Rongtai health(SH:603579)2020-04-29 16:00Financial Performance - Operating revenue fell by 36.17% to CNY 326,233,469.82 year-on-year[5] - Net profit attributable to shareholders decreased by 48.75% to CNY 29,605,974.36 compared to the same period last year[5] - Basic and diluted earnings per share dropped by 46.34% to CNY 0.22[6] - The company reported a net profit margin decline due to reduced revenue and increased costs, reflecting ongoing market challenges[30] - The net profit for Q1 2020 was CNY 27.64 million, down 48.9% from CNY 54.25 million in Q1 2019[32] - The total profit for Q1 2020 was CNY 31.66 million, a decrease of 49.1% from CNY 62.32 million in Q1 2019[32] - The company's operating revenue for Q1 2020 was CNY 272.37 million, a decrease of 36.9% compared to CNY 431.68 million in Q1 2019[33] - The gross profit margin decreased from 23.7% in Q1 2019 to 22.8% in Q1 2020, reflecting increased cost pressures[34] Cash Flow - Net cash flow from operating activities was negative at CNY -227,682,868.54, a decline of 262.49% year-on-year[5] - In Q1 2020, the company's cash inflow from operating activities was CNY 373,746,109.88, a decrease of 43.5% compared to CNY 662,222,564.45 in Q1 2019[35] - The net cash flow from operating activities was -CNY 227,682,868.54, compared to a positive CNY 140,117,835.39 in the same period last year[35] - Cash inflow from financing activities was CNY 186,501,089.00, with a net cash flow of CNY 156,121,760.87, compared to -CNY 18,662,726.73 in Q1 2019[36] - The total cash outflow from investing activities was CNY 476,103,839.27, significantly lower than CNY 893,693,738.49 in Q1 2019, resulting in a net cash flow of -CNY 215,559,059.55[36] Assets and Liabilities - Total assets decreased by 5.91% to CNY 2,316,011,598.50 compared to the end of the previous year[5] - Cash and cash equivalents decreased by 31.35% to ¥601,295,127.35 from ¥875,856,255.08 due to increased operational payments[9] - The company's total assets amounted to RMB 2,316,011,598.50, a decrease from RMB 2,461,373,036.61 as of December 31, 2019[25] - The company’s total liabilities increased significantly, with short-term borrowings rising from RMB 69,762 to RMB 186,070,851.00[25] - Total liabilities as of March 31, 2020, were CNY 685,212,292.58, down from CNY 806,945,984.73 at the end of 2019[29] - The company reported a total current asset of RMB 1,433,304,858.68 as of March 31, 2020, down from RMB 1,734,317,319.01 at the end of 2019[25] Shareholder Information - The total number of shareholders reached 9,116[7] - The largest shareholder, Lin Qi, holds 28.93% of the shares, totaling 40,500,400 shares[7] - The company completed a share repurchase of 3,630,263 shares, accounting for 2.59% of the total share capital, with a total payment of RMB 100,606,911.51[20] Government Subsidies and Other Income - The company reported a government subsidy of CNY 6,465,497.04 related to normal business operations[8] - Other income increased by 125.53% to ¥6,465,497.04 from ¥2,866,774.88, mainly due to increased government subsidies[9] - Non-operating income and expenses totaled CNY 7,452,700.13, after accounting for various adjustments[8] Research and Development - Research and development expenses increased to CNY 22,436,820.50 in Q1 2020, up 26.9% from CNY 17,779,693.07 in Q1 2019[30] - Research and development expenses increased to CNY 16.88 million, up 8.4% from CNY 15.58 million in the previous year[34] Stock Options and Incentives - The company adjusted the exercise price of the stock options from RMB 63.9 to RMB 63.6 for the first grant and from RMB 66.5 to RMB 66.2 for the reserved grant[17] - The company terminated the 2017 stock option incentive plan due to unmet performance targets, resulting in the cancellation of 2,173,000 unexercised stock options[19] Future Outlook - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company is implementing new revenue and leasing standards starting in 2020, which may impact financial reporting[39]