SKSHU(SH:603737)2020-04-09 16:00Financial Performance - Operating revenue for the period was approximately CNY 434.66 million, a decline of 31.10% compared to the same period last year, primarily due to the impact of COVID-19 and decreased demand from downstream customers[4] - Net profit attributable to shareholders of the listed company was approximately -CNY 126.38 million, a decrease of CNY 12.45 million year-on-year[4] - The company reported a net loss of approximately ¥154.59 million for Q1 2020, compared to a loss of ¥2.56 million in Q1 2019[21] - The company reported a basic and diluted earnings per share of -0.68 RMB for Q1 2020, compared to -0.01 RMB in Q1 2019[22] - The total comprehensive income for Q1 2020 was -53,790,224.11 RMB, compared to -15,183,469.15 RMB in Q1 2019[24] Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 5.36 billion, a decrease of 5.61% compared to the end of the previous year[4] - Total current assets decreased to CNY 3,106,249,804.39 from CNY 3,536,274,996.38, a decline of approximately 12.1% year-over-year[15] - Total liabilities decreased to CNY 3,650,691,751.73 from CNY 3,838,846,370.75, a reduction of about 4.9%[17] - Total non-current assets increased to CNY 2,250,687,123.73 from CNY 2,139,021,094.68, reflecting a growth of about 5.2%[16] - The company's total assets decreased to CNY 5,356,936,928.12 from CNY 5,675,296,091.06, a decline of approximately 5.6%[17] Cash Flow - The net cash flow from operating activities was approximately -CNY 829.31 million, an increase in net outflow of CNY 601.33 million compared to the same period last year[4] - The company reported a net cash flow from financing activities of 467,797,923.35 RMB, compared to 167,347,219.15 RMB in the same quarter last year, showing improved financing conditions[29] - The net cash flow from operating activities was -715,382,348.89 RMB, compared to -182,816,948.63 RMB in the same period last year, indicating a significant decline in operational cash flow[28] Shareholder Information - The total number of shareholders at the end of the reporting period was 6,547[7] - The largest shareholder, Hong Jie, held 65.97% of the shares, with 27.94 million shares pledged[7] Government Support - Government subsidies recognized in the current period amounted to approximately CNY 46.81 million, primarily related to government support[5] - The company reported a significant increase in other income, which rose by RMB 26,364,163.96 or 128.97%, mainly due to increased government subsidies received[11] Inventory and Receivables - The company's inventory decreased by RMB 162,510,549.42, a decline of 32.22%, due to reclassification of completed but unsettled assets to contract assets as per new revenue standards[10] - Accounts receivable increased to CNY 1,180,711,796.92 from CNY 1,508,941,758.79, indicating a decrease of approximately 21.8% year-over-year[15] Borrowings and Financial Expenses - The company's short-term borrowings increased by RMB 572,035,859.97, a rise of 71.46%, primarily due to increased bank loans[10] - The company's financial expenses increased significantly, reporting RMB 7,543,399.38, compared to a negative RMB 1,434,154.80 in the previous year, primarily due to increased interest expenses from bank loans[11] Changes in Accounting Standards - The company is implementing new revenue recognition standards effective from January 1, 2020, impacting financial reporting[37] - The company reclassified completed but unsettled assets worth approximately $236.11 million to contract assets due to the new revenue recognition standards[33]