Tianyu Ecology(SH:603717)2020-04-29 16:00Financial Performance - Operating revenue fell by 48.88% to CNY 87,523,920.56, down from CNY 171,209,033.54 in the same period last year[5] - Net profit attributable to shareholders was a loss of CNY 7,418,047.66, a decrease of 735.72% compared to a profit of CNY 1,166,873.77 in the previous year[5] - Basic earnings per share were -CNY 0.0307, a decline of 739.58% from CNY 0.0048 in the same period last year[5] - Net profit was a loss of ¥7,540,756.52, a decline of 748.11% compared to the previous period, primarily due to decreased income from landscaping engineering construction[14] - Total revenue for Q1 2020 was CNY 87,523,920.56, a decrease of 48.9% compared to CNY 171,209,033.54 in Q1 2019[28] - Net profit for Q1 2020 was a loss of CNY 7,540,756.52, compared to a profit of CNY 1,163,501.86 in Q1 2019[28] - The total comprehensive income for Q1 2020 was -¥7,540,756.52, compared to ¥1,163,501.86 in Q1 2019[29] - The company's operating profit for Q1 2020 was -¥4,072,733.88, a significant decline from ¥12,540,591.91 in Q1 2019[31] Assets and Liabilities - Total assets decreased by 2.50% to CNY 3,370,724,722.78 compared to the end of the previous year[5] - Total assets decreased to ¥3,370,724,722.78 from ¥3,457,126,873.63, reflecting a decline in both current and non-current assets[19][20] - Current liabilities decreased to ¥1,374,050,109.55 from ¥1,495,692,341.62, indicating a reduction in short-term financial obligations[20] - Total liabilities as of March 31, 2020, were CNY 1,605,432,695.02, down from CNY 1,660,228,137.19 at the end of 2019[24] - Total liabilities reached CNY 2,006,211,230.24, indicating the company's overall debt level[41] - Owner's equity amounted to CNY 1,450,915,643.39, demonstrating the company's net worth after liabilities[41] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 66,534,007.17, which is a 9.33% increase in outflow compared to CNY 60,854,531.84 in the previous year[5] - Cash flow from financing activities increased by 28.38% to ¥103,371,675.51, due to a larger reduction in cash paid for loan repayments compared to cash received from borrowings[14] - Cash inflows from operating activities totaled ¥236,374,240.93 in Q1 2020, slightly up from ¥230,592,595.91 in Q1 2019[34] - The total cash outflow for operating activities was ¥321,967,705.06, slightly down from ¥334,682,446.35 in the previous year, reflecting a decrease of 3.8%[36] - The cash flow from operating activities showed a net outflow of -¥66,534,007.17, compared to -¥60,854,531.84 in the previous year, indicating a worsening of 9.8%[35] Shareholder Information - The number of shareholders at the end of the reporting period was 18,420[9] - The top ten shareholders held a total of 63.28% of the shares, with the largest shareholder holding 26.28%[9] Inventory and Assets Classification - The company reported a significant decrease in inventory by 91.37% to CNY 85,725,111.77 due to adjustments in revenue recognition[11] - The company adjusted its accounting practices, moving certain projects from "inventory" to "other non-current assets" and "contract assets"[42] - The company implemented new revenue recognition standards, adjusting various asset classifications, which may impact future financial reporting[46] Research and Development - R&D expenses decreased by 65.56% to ¥2,490,254.10, attributed to reduced spending on R&D projects[14] - The company reported a decrease in R&D expenses to CNY 2,490,254.10 from CNY 7,229,773.95, a reduction of 65.5%[28] - Research and development expenses decreased to ¥606,533.12 in Q1 2020 from ¥1,698,840.29 in Q1 2019, reflecting a reduction of 64.3%[31] Financial Ratios - The weighted average return on net assets decreased by 0.62 percentage points to -0.53%[5] - Financial expenses increased by 78.89% to ¥12,587,191.99, mainly due to higher interest expenses on borrowings[14]