Junhe(SH:603617)2020-04-29 16:00Financial Performance - Operating revenue decreased by 29.54% to CNY 149,785,271.46 year-on-year[5] - Net profit attributable to shareholders decreased by 31.16% to CNY 12,908,607.78 compared to the same period last year[5] - Basic earnings per share decreased by 20.00% to CNY 0.12[7] - The weighted average return on equity decreased by 1.3 percentage points to 2.81%[5] - Total operating revenue for Q1 2020 was ¥149,785,271.46, a decrease of 29.5% compared to ¥212,590,544.64 in Q1 2019[31] - Net profit for Q1 2020 was ¥16,736,457.09, a decline of 24.4% from ¥22,075,793.46 in Q1 2019[32] - Total profit for Q1 2020 was ¥19,341,010.98, down 25.7% from ¥26,052,570.10 in Q1 2019[31] Assets and Liabilities - Total assets increased by 26.22% to CNY 1,151,813,179.63 compared to the end of the previous year[5] - The company’s total tax expenses decreased by 34.51% to CNY 2,604,553.89, due to a reduction in total profit[16] - Total liabilities increased to ¥578,577,172.17 from ¥370,313,677.10, reflecting a growth of about 56.3%[28] - Current liabilities rose to ¥416,485,958.95 compared to ¥369,949,416.37, an increase of about 12.5%[28] - Non-current liabilities totaled ¥162,091,213.22, up from ¥364,260.73, indicating a significant increase in long-term obligations[28] Cash Flow - Cash flow from operating activities decreased by 9.06% to CNY 29,185,066.87 year-on-year[5] - The net cash flow from financing activities was ¥283.66 million, a significant increase of 496.65% compared to the previous period[17] - The total cash inflow from operating activities was ¥196,489,077.14, down from ¥213,874,032.79 in Q1 2019, indicating a decline in operational performance[42] - The company reported a net cash outflow from investing activities of ¥163,134,834.85, compared to a net outflow of ¥45,248,860.00 in Q1 2019, indicating increased investment expenditures[40] Shareholder Information - The number of shareholders reached 8,038 at the end of the reporting period[12] - The largest shareholder, Ningbo Junhe Investment Holding Co., Ltd., holds 52.66% of the shares[12] Investment and Expenditures - The company’s capital expenditures for fixed assets, intangible assets, and other long-term assets rose by 593.79% to CNY 43,284,251.53, reflecting increased investment in projects[16] - The company raised a total of ¥210 million through the issuance of convertible bonds during the reporting period[17] - The company reported a decrease in investment income by 83.48% to CNY 149,416.68, due to changes in the valuation method of trading financial assets[16] Market and Operational Strategy - The company plans to continue focusing on product development and market expansion strategies[5] - The company is actively monitoring the impact of U.S.-China trade tensions, which could affect sales performance in the U.S. market[18] - The company plans to enhance its production capacity and technology levels through the proceeds from the convertible bond issuance, aiming to increase its global market share[18] Other Financial Metrics - Other income surged by 728.03% to CNY 5,647,636.98, attributed to an increase in government subsidies received[16] - The company reported a significant decrease in employee compensation payable by 58.88% to CNY 5,702,664.18, due to payments of last year's wages and bonuses[15] - The company reported a credit impairment loss of ¥1,149,914.88 in Q1 2020, compared to a gain of -¥1,771,352.36 in Q1 2019[31]