Chahua(SH:603615)2020-04-24 16:00Financial Performance - Operating revenue for the first quarter was CNY 116,108,307.88, representing a decline of 42.22% year-on-year[6] - Net profit attributable to shareholders was CNY 6,946,991.56, down 65.60% compared to the same period last year[6] - Basic and diluted earnings per share were both CNY 0.03, a decrease of 62.50% year-on-year[6] - Net profit for Q1 2020 decreased by 65.60% to ¥6,946,991.56 compared to ¥20,193,467.80 in Q1 2019[12] - Operating profit fell by 65.72% to ¥9,284,218.20 from ¥27,086,908.98 year-on-year[12] - Total revenue for Q1 2020 was CNY 116,108,307.88, a decrease of 42.3% compared to CNY 200,939,834.26 in Q1 2019[21] - Total operating costs for Q1 2020 were CNY 107,826,435.81, down 38.0% from CNY 174,082,831.10 in Q1 2019[21] - The company reported a total comprehensive income of ¥6,932,309.05 for Q1 2020, down 58.2% from ¥16,573,055.37 in Q1 2019[25] Cash Flow - The net cash flow from operating activities was negative CNY 16,274,781.43, compared to a positive CNY 27,877,552.55 in the same period last year[6] - Cash flow from operating activities turned negative at -¥16,274,781.43, a significant decline from ¥27,877,552.55 in the previous year[12] - In Q1 2020, the net cash flow from operating activities was ¥6,028,513.25, a decrease of 74.7% compared to ¥23,725,545.94 in Q1 2019[31] - Cash inflow from investment activities totaled ¥130,802,602.74, while cash outflow was ¥131,392,589.15, resulting in a net cash flow of -¥589,986.41, compared to -¥12,221,876.79 in Q1 2019[32] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,553,561,163.20, a decrease of 0.42% compared to the end of the previous year[6] - Total liabilities as of March 31, 2020, were ¥165,654,057.65, down from ¥182,835,287.31 at the end of 2019[17] - Current liabilities decreased to ¥158,098,526.21 from ¥175,519,479.27, reflecting a reduction of 9.06%[17] - Total assets as of March 31, 2020, were CNY 1,344,332,529.79, slightly up from CNY 1,343,149,411.17 at the end of 2019[20] - Total liabilities decreased to CNY 82,478,090.97 in Q1 2020 from CNY 91,872,400.15 in Q1 2019, a reduction of 10.2%[20] Shareholder Information - The total number of shareholders was 18,536, with the top ten shareholders holding a significant portion of shares[10] - The total equity attributable to shareholders was ¥1,377,314,995.24, reflecting the company's financial stability[37] Expenses - The company reported a 90.09% increase in management expenses, primarily due to equity incentive plan allocations[12] - Financial expenses increased by 798.91% to -¥3,303,402.51, attributed to higher interest income from time deposits[12] - Total operating expenses for Q1 2020 were ¥112,083,929.99, compared to ¥174,626,801.63 in Q1 2019, reflecting a decrease of 35.8%[24] - Research and development expenses for Q1 2020 were ¥2,372,809.16, a decrease of 17.5% from ¥2,873,361.37 in Q1 2019[24] Inventory and Assets Management - Inventory impairment losses decreased by 91.18%, indicating improved inventory management[12] - Inventory decreased to CNY 47,306,741.70 in Q1 2020 from CNY 50,304,649.39 at the end of 2019, a decline of 5.9%[20] - The company’s inventory remained stable at ¥144,532,475.30 as of Q1 2020, indicating consistent stock management[35] Revenue Recognition and Standards - The company adopted the new revenue recognition standard effective January 1, 2020, with no significant impact on financial reporting[42] - The company reported a decrease in contract liabilities due to the reclassification of advance payments to contract liabilities[41] - The company is preparing to implement the new lease standard starting January 1, 2021, which may affect future financial statements[42]