CECO(SH:603698)2020-04-29 16:00Financial Performance - Operating income for the period was CNY 41,024,649.97, representing a significant decrease of 72.87% year-on-year[9]. - Net profit attributable to shareholders of the listed company was a loss of CNY 29,239,809.39, a decline of 201.24% compared to the previous year[9]. - Basic earnings per share were CNY -0.05, a decrease of 200.00% compared to CNY 0.05 in the previous year[9]. - The weighted average return on net assets was -1.05%, a decrease of 2.13 percentage points from the previous year[9]. - The company reported a significant increase in tax expenses, with a rise of 677.56% to CNY 48,850,018.63, due to the payment of various taxes[18]. - Total operating revenue for Q1 2020 was CNY 41,024,649.97, a decrease of 72.9% compared to CNY 151,241,521.82 in Q1 2019[31]. - The net loss for Q1 2020 was CNY 29,239,809.39, a significant decline from a profit of CNY 31,415,791.43 in Q1 2019[31]. - The total comprehensive income for Q1 2020 was -¥27,249,769.18, compared to ¥26,972,958.25 in Q1 2019[34]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,881,016,216.71, a decrease of 1.07% compared to the end of the previous year[9]. - The company's total liabilities were RMB 1,125,628,350.66, down from RMB 1,136,466,063.50, a decrease of about 0.76%[24]. - The company's current assets totaled RMB 2,889,302,225.27, compared to RMB 2,759,061,580.48 at the end of 2019, indicating an increase of about 4.71%[24]. - The company's total non-current assets decreased to RMB 991,713,991.44 from RMB 1,164,086,939.83, a decline of approximately 14.8%[23]. - The total liabilities and shareholders' equity amounted to CNY 3,806,145,807.12, consistent with total assets[49]. Shareholder Information - Net assets attributable to shareholders of the listed company were CNY 2,755,387,866.05, down 1.12% from the previous year[9]. - The total number of shareholders at the end of the reporting period was 25,567[12]. - The largest shareholder, China Academy of Launch Vehicle Technology, held 45.98% of the shares[12]. - The total equity attributable to shareholders reached CNY 2.79 billion, showing a decrease of CNY 2.80 million compared to the previous period[42]. Cash Flow - Net cash flow from operating activities was CNY 221,103,113.53, an increase of 256.61% year-on-year[9]. - Cash received from sales and services increased by 50.24% to CNY 421,800,285.97, driven by improved collection from installment projects[18]. - The cash inflow from operating activities was ¥421,457,707.70 in Q1 2020, an increase from ¥303,853,428.63 in Q1 2019[34]. - The cash flow from operating activities outpaced cash outflows, resulting in a net increase in cash and cash equivalents of 219,248,844.01 RMB[37]. Accounts Receivable and Inventory - As of the end of the reporting period, accounts receivable decreased by 60.72% to CNY 346,733,522.37, attributed to improved management and collection efforts[14]. - Inventory levels decreased to RMB 187,470,717.36 from RMB 241,023,569.08, showing a decline of approximately 22.2%[24]. - Accounts receivable decreased significantly to RMB 346,733,522.37 from RMB 882,806,872.90, a reduction of about 60.7%[24]. - The company reported a decrease in inventory from CNY 135,518,891.29 to CNY 188,869,386.56[27]. Accounting Policies - The company has adjusted its accounting policies in accordance with the new revenue standards, impacting the presentation of various financial statement items[16]. - The company implemented new revenue recognition standards effective January 1, 2020, impacting the financial reporting[44].