TORCH ELECTRON(SH:603678)2020-04-28 16:00Financial Performance - Operating revenue for the reporting period was CNY 604,872,135.40, an increase of 30.29% year-on-year [11]. - Net profit attributable to shareholders was CNY 68,538,740.60, a decrease of 4.82% compared to the same period last year [11]. - Basic and diluted earnings per share were both CNY 0.15, a decrease of 6.25% compared to the previous year [11]. - Total operating revenue for Q1 2020 was CNY 604,872,135.40, an increase of 30.2% compared to CNY 464,263,862.29 in Q1 2019 [45]. - Net profit for Q1 2020 was CNY 68,986,143.87, a decrease of 6.3% from CNY 73,359,801.12 in Q1 2019 [46]. - Earnings per share for Q1 2020 were CNY 0.15, compared to CNY 0.16 in Q1 2019 [48]. - The company reported a total profit of CNY 84,796,904.90 for Q1 2020, down from CNY 89,811,450.67 in Q1 2019 [46]. - The total comprehensive income for the first quarter of 2020 was CNY 38,385,324.13, compared to CNY 44,796,787.26 in the first quarter of 2019, representing a decrease of approximately 14.5% [50]. Cash Flow and Investments - Net cash flow from operating activities was CNY 15,133,669.73, down 81.89% year-on-year [11]. - Cash received from sales and services in Q1 2020 amounted to CNY 793.90 million, a 35.56% increase from CNY 585.64 million in Q1 2019 [22]. - The company did not recover any investment cash in Q1 2020, a 100% decrease from CNY 417.20 million in the same period last year [22]. - Cash inflow from operating activities was CNY 795,836,144.92, an increase of 33.6% from CNY 594,971,259.94 in the same period last year [53]. - Net cash flow from investing activities was negative at CNY -81,430,354.32, contrasting with a positive CNY 307,422,261.55 in the first quarter of 2019 [53]. - Cash outflow for investing activities was CNY 84,454,140.95, compared to CNY 119,958,660.34 in the previous year, indicating a reduction of 29.6% [53]. - The net cash flow from financing activities improved to CNY 18,082,779.84, compared to a negative CNY -24,309,582.21 in the first quarter of 2019 [53]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,392,713,030.31, a decrease of 0.54% compared to the end of the previous year [11]. - Total liabilities decreased to CNY 1,137,110,948.40 from CNY 1,235,682,905.01, a reduction of about 7.9% [36]. - Total current assets amounted to 2,890,093,906.93 RMB, with significant components including accounts receivable of 1,190,145,833.58 RMB and inventory of 707,692,391.57 RMB [59]. - Total non-current assets reached approximately $1.75 billion, including long-term equity investments of $1.30 billion and fixed assets of $328.80 million [68]. - Total equity was approximately $2.61 billion, with retained earnings of $942.94 million and capital reserves of $1.11 billion [72]. Shareholder Information - The number of shareholders at the end of the reporting period was 26,714 [14]. - The top shareholder, Cai Mingtong, held 36.78% of the shares, with 9,080,000 shares pledged [14]. Future Outlook and Strategy - The company plans to issue convertible bonds to raise up to CNY 600 million for a high-tech project and working capital [25]. - The company plans to continue focusing on market expansion and new product development in the upcoming quarters [45]. - Future guidance indicates a commitment to maintaining financial stability while exploring strategic opportunities for growth and expansion [63]. - The company is focused on expanding its market presence and enhancing product development strategies [73].