Tianan New Material(SH:603725)2020-04-27 16:00Financial Performance - Operating revenue for the reporting period was ¥115,705,938.67, representing a decrease of 37.20% year-on-year[5]. - Net profit attributable to shareholders of the listed company was -¥3,064,526.84, a decline of 461.02% compared to the previous year[5]. - Basic earnings per share were -¥0.01, a decrease of 200.00% compared to the previous year[5]. - The company reported a net loss of -¥7,583,461.63 after deducting non-recurring gains and losses[5]. - The company reported a decrease in accounts receivable to CNY 135,744,290.45 from CNY 176,126,188.61, a reduction of 23.0%[21]. - The company reported a net loss of -¥3,448,180.21 for Q1 2020, compared to a net profit of ¥343,139.40 in Q1 2019[27]. - The total profit for Q1 2020 was -¥3,423,881.80, compared to a profit of ¥1,130,379.21 in Q1 2019[27]. Cash Flow - The net cash flow from operating activities improved by 20.96%, amounting to -¥7,552,346.67[5]. - The company raised CNY 104,000,000.00 through borrowings in Q1 2020, an increase of 48.57% from CNY 70,000,000.00 in Q1 2019[34]. - The net cash flow from financing activities was CNY 67,089,051.47, significantly higher than CNY 14,849,572.45 in the previous year[33]. - The cash inflow from sales of goods and services was CNY 146,322,135.86, a decline of 21.05% from CNY 185,323,601.68 in the previous year[32]. - The cash inflow from investment activities totaled CNY 85,269,940.93, down from CNY 111,831,080.99 in Q1 2019, resulting in a net cash flow of CNY 31,445,577.53, compared to CNY 658,845.01 previously[33]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,244,546,421.62, an increase of 0.65% compared to the end of the previous year[5]. - The company’s total liabilities decreased by 47.43% in accounts payable to ¥52,861,591.03 from ¥100,551,810.37, mainly due to a reduction in material payables[12]. - Total liabilities reached RMB 429,654,897.34, while total equity was RMB 806,900,494.43[38]. - Current liabilities totaled RMB 418,000,585.67, with short-term borrowings at RMB 284,369,713.26[38]. - The total current assets were RMB 470,682,455.71, with cash and cash equivalents at RMB 62,911,712.18[40]. Shareholder Information - The total number of shareholders at the end of the reporting period was 11,821[10]. - The largest shareholder, Wu Qichao, held 30.73% of the shares, with 12,040,000 shares pledged[10]. Research and Development - Research and development expenses fell by 37.59% to ¥4,816,879.21 from ¥7,718,668.90, as some R&D projects were delayed during the reporting period[13]. - Research and development expenses for Q1 2020 were ¥4,816,879.21, a decrease of 37.8% from ¥7,718,668.90 in Q1 2019[27]. Other Income and Expenses - Non-recurring gains and losses totaled ¥4,518,934.79 for the reporting period[9]. - Other income increased by 112.26% to ¥4,636,076.09 from ¥2,184,160.26, mainly due to an increase in government subsidies recognized during the reporting period[13]. - The company incurred financial expenses of ¥2,823,040.77 in Q1 2020, down from ¥3,663,448.64 in Q1 2019[27]. Changes in Accounting Standards - The company executed the new revenue accounting standards starting January 1, 2020, affecting the financial statements[39].