ZPEC(SH:603619)2020-04-28 16:00Financial Performance - Operating revenue for the period was CNY 495,251,808.73, representing a year-on-year increase of 20.27%[12] - Net profit attributable to shareholders was CNY 6,737,742.08, a decrease of 74.87% compared to the same period last year[12] - Basic earnings per share were CNY 0.02, a decrease of 71.43% compared to CNY 0.07 in the previous year[12] - The weighted average return on net assets was 0.28%, down 0.84 percentage points from 1.12% in the previous year[12] - The company reported a net profit of RMB 888,553,299.70, compared to RMB 881,815,557.62 in the previous period, reflecting a growth of 0.8%[39] - The net profit for Q1 2020 was approximately ¥23.18 million, compared to a net loss of ¥0.43 million in Q1 2019, indicating a turnaround in profitability[55] - Operating profit for Q1 2020 reached approximately ¥49.53 million, up from ¥12.25 million in the same period last year, reflecting a growth of 304.5%[55] Cash Flow - Net cash flow from operating activities was CNY 2,956,968.26, down 87.94% year-on-year[12] - Cash flow from operating activities was approximately ¥748.17 million in Q1 2020, compared to ¥364.76 million in Q1 2019, indicating improved cash generation[59] - Total cash inflow from financing activities reached 793,090,000.00 RMB, compared to 556,432,574.72 RMB previously, indicating a 42.5% increase[62] - Cash outflow from investing activities amounted to 72,699,167.42 RMB, down from 238,901,051.51 RMB, reflecting a 69.6% decrease[62] - Cash inflow from sales of goods and services was 611,405,858.53 RMB, significantly higher than 197,917,067.34 RMB, representing a 208.5% increase[66] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,329,265,784.49, a decrease of 0.83% compared to the end of the previous year[12] - Current assets totaled RMB 2,361,019,879.95, a slight decrease of 0.9% from RMB 2,382,573,344.28 as of December 31, 2019[34] - Total liabilities were RMB 2,963,727,862.05, down from RMB 3,010,221,401.63, indicating a reduction of 1.5%[39] - Total non-current assets amounted to RMB 2,968,245,904.54, a decrease of 0.8% from RMB 2,991,352,349.19[37] - Total liabilities reached approximately ¥3.01 billion, with non-current liabilities accounting for ¥149.90 million[74] Shareholder Information - The total number of shareholders at the end of the reporting period was 26,662[18] - The largest shareholder, Shanghai Zhongman Investment Holding Co., Ltd., held 36.59% of the shares, with 146,369,800 shares pledged[18] - Total equity attributable to shareholders reached RMB 2,365,509,602.64, a slight increase from RMB 2,363,638,904.88[39] Expenses and Financial Adjustments - Financial expenses increased by 138% to CNY 34,395,242.95, primarily due to increased exchange losses[29] - Research and development expenses for Q1 2020 were approximately $11.66 million, compared to $10.63 million in Q1 2019, indicating a 9.7% increase[49] - The company incurred financial expenses of approximately ¥21.49 million in Q1 2020, compared to ¥9.09 million in Q1 2019, indicating increased borrowing costs[55] - The company reported a net financial expense of approximately $34.40 million in Q1 2020, significantly higher than $14.43 million in Q1 2019[49] Inventory and Receivables - Accounts receivable decreased by 74% to CNY 2,100,000.00, attributed to a reduction in bill settlements[24] - Inventory decreased to RMB 419,728,188.82, down 10.4% from RMB 468,596,035.77[34] - Accounts receivable decreased significantly to RMB 651,179,292.40, down 46.5% from RMB 1,212,841,656.42[34] - The company reported a decrease in accounts receivable by approximately ¥339.92 million due to adjustments in the new revenue standards[77] Compliance and Standards - The company is implementing new revenue recognition standards effective January 1, 2020, which may impact financial reporting[76] - The company is focused on compliance with new accounting standards, ensuring accurate financial reporting and transparency[83] - The financial adjustments made due to the new revenue standards will not affect comparative period data, maintaining consistency in financial analysis[83]