Linewell(SH:603636)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders was CNY -16,362,675.35, representing a decline of 172.45% year-on-year[12]. - Operating revenue for the period was CNY 102,944,825.44, down 3.82% compared to the same period last year[12]. - The company reported a significant increase in sales expenses, which rose to CNY 22,127,303.33, up 43.3% from CNY 15,433,196.70 in the previous year[40]. - Net loss for Q1 2020 was CNY 16,485,651.75, compared to a net loss of CNY 7,898,431.06 in Q1 2019, representing a 108.1% increase in losses[41]. - The total comprehensive loss for Q1 2020 was CNY -16,485,651.75, compared to CNY -7,898,431.06 in the same quarter of the previous year[41]. - Basic and diluted earnings per share for Q1 2020 were both CNY -0.03, compared to CNY -0.01 in Q1 2019[41]. Cash Flow - The net cash flow from operating activities improved by 28.70% year-on-year, amounting to CNY -180,450,798.46[12]. - The company reported a net cash flow from operating activities of CNY -180,450,798.46, an improvement of 28.70% compared to CNY -253,096,784.19 in the previous year[24]. - Cash flow from operating activities in Q1 2020 was -¥180,450,798.46, an improvement from -¥253,096,784.19 in Q1 2019[50]. - The net cash flow from operating activities was -CNY 108,147,818.82, an improvement from -CNY 121,178,440.18 in the same period last year[54]. - The cash inflow from investment activities totaled CNY 647,352,006.12, compared to only CNY 31,000.00 in Q1 2019[56]. - The net cash flow from investment activities was -CNY 271,933,929.23, worsening from -CNY 133,240,008.33 year-over-year[56]. - The cash inflow from financing activities was CNY 29,380,469.17, up from CNY 13,872,142.12 in Q1 2019[56]. - The net cash flow from financing activities was -CNY 5,775,052.58, compared to CNY 13,872,142.12 in the previous year[56]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,695,494,849.69, a decrease of 3.05% compared to the end of the previous year[12]. - The company’s total liabilities decreased to CNY 1,120,729,843.71, down 34.3% from CNY 1,705,108,168.40[33]. - The total liabilities decreased to CNY 1,036,056,980.38 from CNY 1,546,563,885.39, a reduction of 33.0%[40]. - The total liabilities were CNY 1,911,305,963.56, reflecting a slight decrease from CNY 1,924,153,199.45 in the previous year[58]. - The company’s total equity attributable to shareholders reached CNY 2,529,019,763.20, an increase of 22.7% from CNY 2,062,434,716.60[33]. - The company’s total equity, including minority interests, was CNY 2,106,653,396.17, a decrease of CNY 7,708,505.27[62]. Research and Development - The company's R&D investment accounted for 0.25% of operating revenue, an increase of 0.02 percentage points from the previous year[12]. - The company increased its research and development expenses by 62.91% to CNY 14,655,286.57 from CNY 8,995,944.06, reflecting a commitment to enhancing its R&D capabilities[22]. - Research and development expenses rose significantly to CNY 14,655,286.57, an increase of 63.5% from CNY 8,995,944.06 in the previous year[40]. - The company plans to strengthen R&D and innovate product transformation to achieve high-quality development amid the ongoing digital government reforms[14]. Operational Efficiency - Management and sales expenses increased slightly due to business and personnel scale expansion, contributing to the decline in net profit[14]. - The company reported a significant improvement in cash flow management, focusing on supplier credit management and accounts receivable collection[14]. - The company experienced a credit impairment loss of ¥3,393,849.64 in Q1 2020, compared to a gain of ¥1,971,868.85 in Q1 2019[44]. Inventory and Receivables - Accounts receivable increased to CNY 413,760,509.69, up 8.4% from CNY 380,467,266.20[35]. - The company’s inventory increased to CNY 265,207,977.86, up 14.4% from CNY 231,727,295.96[35]. - The company reported a decrease in inventory to CNY 323,728,802.32 from CNY 306,208,261.09 year-over-year, indicating a reduction of CNY 17,520,541.23[58]. Financial Adjustments - The company executed the new revenue standards starting January 1, 2020, affecting the financial reporting[67]. - The adjustment included an increase in accounts receivable by CNY 14,389,700.78 and a decrease in inventory by CNY 17,245,632.73[67]. - Contract liabilities increased by CNY 156,398,811.92, offsetting a decrease in advance receipts by the same amount[67].