Xianhe(SH:603733)2020-04-22 16:00Financial Performance - Net profit attributable to shareholders of the listed company was ¥104,587,103.10, an increase of 193.16% year-on-year[18]. - Operating revenue for the period was ¥903,508,931.79, down 10.84% from the same period last year[18]. - Basic earnings per share were ¥0.17, representing an increase of 183.33% year-on-year[18]. - Total profit increased by 210.01% to ¥124,494,153.65 from ¥40,157,752.19, attributed to higher profit levels during the period[32]. - The company reported a comprehensive income total of CNY 102,931,904.28 for Q1 2020, compared to CNY 35,644,116.13 in Q1 2019[56]. - Net profit for Q1 2020 reached CNY 104,861,007.83, representing a significant increase of 94.67% compared to CNY 35,644,116.13 in Q1 2019[56]. - Net profit for Q1 2020 was approximately ¥71.80 million, representing a significant increase of 116.7% compared to ¥33.16 million in Q1 2019[61]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,253,122,537.19, a decrease of 1.70% compared to the end of the previous year[18]. - Total liabilities decreased from CNY 3,533,556,905.42 to CNY 3,305,424,424.23, a decrease of about 6.5%[45]. - Current liabilities decreased from CNY 2,256,534,709.32 to CNY 1,959,871,717.42, a reduction of approximately 13.2%[43]. - The company's equity attributable to shareholders increased from CNY 3,830,452,318.46 to CNY 3,933,110,318.01, an increase of approximately 2.7%[45]. - Total liabilities amounted to ¥3,533,556,905.42, with current liabilities at ¥2,256,534,709.32 and non-current liabilities at ¥1,277,022,196.10[76]. - Total equity reached ¥3,844,766,208.68, with equity attributable to shareholders of the parent company at ¥3,830,452,318.46[76]. Cash Flow - Net cash flow from operating activities was -¥53,225,178.75, a decrease of 291.71% compared to the previous year[18]. - Cash and cash equivalents decreased by 36.5% to ¥813,052,709.47 from ¥1,280,328,894.41, primarily due to the repayment of current loans[29]. - Cash flow from operating activities showed a net outflow of approximately ¥53.23 million, compared to a net inflow of ¥27.76 million in Q1 2019[66]. - The total cash outflow from operating activities increased to 604,338,220.98 RMB in Q1 2020, compared to 504,540,832.07 RMB in Q1 2019, representing a rise of 19.7%[68]. - The company reported a significant decrease in cash and cash equivalents net increase of -1,078,386,465.87 RMB in Q1 2020 compared to -12,039,834.59 RMB in Q1 2019[70]. Research and Development - Research and development expenses increased by 102.78% to ¥27,854,860.50 from ¥13,736,431.03, mainly due to an increase in R&D projects[29]. - Research and development expenses increased to CNY 27,854,860.50 in Q1 2020, compared to CNY 13,736,431.03 in Q1 2019, reflecting a growth of 102.67%[55]. - Research and development expenses rose to approximately ¥19.35 million, an increase of 78.5% from ¥10.85 million in Q1 2019[61]. Financial Expenses and Income - Financial expenses increased by 65.48% to ¥24,915,720.84 from ¥15,056,288.95, primarily due to accrued convertible bond interest and exchange losses[29]. - Investment income rose by 184.97% to ¥33,020,036.05 from ¥11,587,002.13, primarily due to increased earnings from the joint venture Xiawang Paper[32]. - The company reported a total of ¥13,283,834.94 in non-operating income and expenses[21]. - The company reported a significant increase in other income by 111.56% to ¥6,473,234.48 from ¥3,059,811.41, mainly due to increased government subsidies received[29]. Shareholder Information - The total number of shareholders at the end of the reporting period was 20,047[22]. - Zhejiang Xianhe Holdings Co., Ltd. held 88.24% of the shares, with 540,000,000 shares pledged[22]. Regulatory Changes - The company executed the new revenue recognition standards starting January 1, 2020, impacting financial reporting[78]. - The company adopted the new revenue recognition standards starting January 1, 2020, impacting financial reporting[84]. - The company has not made adjustments to comparative data for the new revenue standards[85].