Changqing(SH:603768)2020-04-28 16:00Financial Performance - Operating revenue for the first quarter was CNY 426,415,927.47, representing a decrease of 20.08% year-on-year [5]. - Net profit attributable to shareholders of the listed company was CNY -5,713,600.06, a decline of 117.84% compared to the same period last year [5]. - Basic earnings per share were CNY -0.01, down 105.88% from CNY 0.17 in the same period last year [5]. - Total operating revenue for Q1 2020 was CNY 426,415,927.47, a decrease of 20% compared to CNY 533,564,486.96 in Q1 2019 [23]. - Operating profit for Q1 2020 was CNY 2,052,584.31, significantly lower than CNY 42,202,546.80 in Q1 2019 [23]. - The company reported a net loss from asset impairment of CNY 20,689,937.17 in Q1 2020, compared to a loss of CNY 13,341,158.99 in Q1 2019 [23]. - The total comprehensive income for Q1 2020 was a loss of ¥1,802,804.60, compared to a comprehensive income of ¥33,979,158.05 in Q1 2019 [27]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY -139,224,239.83, worsening by 210.93% compared to the previous year [5]. - The net cash flow from operating activities decreased by 210.93% to -RMB 139,224,239.83 compared to the same period last year [12]. - Cash flow from operating activities for Q1 2020 was ¥212,632,381.49, down from ¥236,023,160.96 in Q1 2019 [29]. - Operating cash inflow totaled ¥219,243,637.36, a decrease from ¥258,286,147.57 in the previous year [30]. - Net cash flow from financing activities was ¥19,870,527.91, a decrease from ¥76,361,903.89 in the same quarter last year [31]. - The net increase in cash and cash equivalents was ¥192,697,599.25, contrasting with a decrease of -¥345,359,529.11 in the previous year [31]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,714,472,041.80, an increase of 0.88% compared to the end of the previous year [5]. - The total number of shareholders at the end of the reporting period was 15,416 [9]. - Total liabilities as of March 31, 2020, were CNY 1,616,685,260.67, compared to CNY 1,494,751,528.19 at the end of 2019, indicating an increase of approximately 8.2% [21]. - Total equity as of March 31, 2020, was CNY 1,543,347,414.69, slightly down from CNY 1,544,077,062.09 at the end of 2019 [21]. - The company's short-term borrowings increased slightly to RMB 677,267,352.06 from RMB 671,342,928.25 [16]. Inventory and Receivables - Trade receivables rose by 34.60% to RMB 194,325,000.00, primarily due to a decrease in endorsed bills [10]. - Inventory increased by 33.04% to RMB 387,858,223.41, mainly due to the growth in raw material stock [10]. - Inventory as of March 31, 2020, was CNY 143,724,767.33, up from CNY 86,738,642.39 at the end of 2019, reflecting an increase of about 65% [20]. Research and Development - Research and development expenses for Q1 2020 were CNY 13,800,313.34, compared to CNY 12,390,353.04 in Q1 2019, indicating an increase of approximately 11.4% [23]. - Research and development expenses for Q1 2020 were ¥9,921,004.77, slightly up from ¥9,049,005.47 in Q1 2019, indicating continued investment in innovation [26]. Shareholder Information - The top three shareholders held a combined 61.88% of the shares, with the largest shareholder holding 31.86% [9]. - The company has not disclosed any new product developments or market expansion strategies in this report [5].