Taihe Intelligent(SH:603656)2020-04-24 16:00Financial Performance - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 411.59% compared to the same period last year, primarily due to high preparatory expenses incurred by the newly established wholly-owned subsidiary Hefei Zhengyuan Intelligent Packaging Technology Co., Ltd.[5] - The net profit attributable to shareholders was CNY 3,381,374.91, an 8.18% decrease from the previous year.[7] - The company's net profit for Q1 2020 showed a significant increase in other income, which rose by 968.80% to 1,290,526.15 RMB compared to 120,744.99 RMB in Q1 2019[12] - Net profit for Q1 2020 was ¥2,964,886.50, down from ¥3,381,487.65 in Q1 2019, representing a decrease of 12.3%[26] - Net profit for Q1 2020 was ¥7,457,587.48, compared to ¥4,050,695.59 in Q1 2019, reflecting a significant increase of approximately 84.5%[31] Revenue and Operating Income - Operating revenue for the period was CNY 68,259,397.18, down 2.05% year-on-year.[7] - Total revenue for Q1 2020 was ¥68,259,397.18, a decrease of 2.05% compared to ¥69,685,426.91 in Q1 2019[25] - The company reported a significant increase in government subsidies received, which contributed to the rise in operating income[12] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,046,605,382.84, a decrease of 0.89% from the end of the previous year.[7] - The total assets as of March 31, 2020, amounted to 1,046,605,382.84 RMB, a slight decrease from 1,055,984,640.45 RMB at the end of 2019[18] - The company's total liabilities decreased to 106,234,819.93 RMB from 117,821,557.57 RMB in the previous year[18] - The total liabilities decreased to ¥96,265,868.35 in Q1 2020 from ¥115,565,753.67 in Q1 2019[22] - The total equity of the company as of March 31, 2020, was ¥942,355,775.83, slightly up from ¥934,848,236.97 at the end of 2019[22] Cash Flow - The net cash flow from operating activities was negative CNY 23,797,807.74, representing a decrease of 45.75% compared to the same period last year.[7] - The company's cash flow from operating activities for Q1 2020 was -23,797,807.74 RMB, a decrease of 45.75% compared to -16,327,440.68 RMB in Q1 2019[12] - The company's cash inflow from operating activities was CNY 74,262,441.38, a decrease of 3.4% compared to CNY 76,588,136.08 in Q1 2019[36] - The net cash flow from operating activities was negative at CNY -17,870,335.95, compared to CNY -15,453,396.82 in the same period last year[36] Investments and Expenditures - Long-term equity investments increased by 202.67% to CNY 17,719,307.46, primarily due to a substantial investment in Hefei Yuancheng Equity Investment Partnership (Limited Partnership).[11] - The company’s intangible assets rose by 140.45% to CNY 98,884,472.86, largely due to the acquisition of land use rights.[11] - Research and development expenses for Q1 2020 were ¥11,224,737.87, up from ¥9,439,928.27 in Q1 2019, reflecting a growth of 18.9%[26] - The company’s total operating expenses increased to ¥58,843,304.77 in Q1 2020 from ¥55,250,644.42 in Q1 2019, representing an increase of approximately 6.5%[31] Shareholder Information - The total number of shareholders was 8,368, with the largest shareholder, Xu Dahong, holding 38.02% of the shares.[9] Accounting Standards and Compliance - The company implemented new revenue and leasing standards starting January 1, 2020, affecting the financial statements[37] - The company implemented new revenue recognition standards starting January 1, 2020, which resulted in reclassifications affecting accounts receivable and contract liabilities[45] - The company’s financial adjustments reflect compliance with revised accounting standards, ensuring accurate financial reporting[45]