WG Tech(SH:603773)2020-04-28 16:00Financial Performance - Operating income for the period was CNY 105,300,068.64, representing a growth of 7.72% year-on-year[5]. - Net profit attributable to shareholders was a loss of CNY 6,256,489.09, a decline of 159.87% compared to the previous year[5]. - The company reported a net loss of CNY 7,226,006.35 after deducting non-recurring gains and losses, a decrease of 767.73% year-on-year[5]. - Net profit decreased by 159.87% to -¥6,256,489.09 from ¥10,449,740.18 in the previous year, attributed to increased operational losses due to COVID-19[13]. - Net profit for Q1 2020 was a loss of CNY 6,256,489.09, compared to a profit of CNY 10,449,740.18 in Q1 2019, indicating a significant decline in profitability[25]. - Operating profit for Q1 2020 was a loss of ¥11,865,440.74, compared to a profit of ¥4,935,685.19 in Q1 2019[27]. - Net profit for Q1 2020 was a loss of ¥12,273,174.20, compared to a profit of ¥3,809,430.79 in Q1 2019[28]. - The total comprehensive income for Q1 2020 was -¥12,273,174.20, compared to ¥3,809,430.79 in Q1 2019[28]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,822,450,711.79, an increase of 0.73% compared to the end of the previous year[5]. - Total assets as of March 31, 2020, amounted to ¥1,822,450,711.79, up from ¥1,809,304,220.46 at the end of 2019[17]. - The total assets of the company as of March 31, 2020, were CNY 1,687,588,086.25, compared to CNY 1,678,418,990.20 at the end of 2019, showing a modest increase[22]. - Total liabilities increased to ¥212,299,454.58 from ¥192,896,474.16, reflecting a rise in short-term borrowings[18]. - Total liabilities increased to CNY 200,360,183.24 from CNY 178,917,912.99, reflecting an increase of approximately 11.5%[22]. - The total liabilities amounted to ¥192,896,474.16, remaining stable compared to the previous year[35]. Cash Flow - The net cash flow from operating activities increased by 29.62% to CNY 68,189,912.16 compared to the same period last year[5]. - Cash flow from operating activities for Q1 2020 was ¥68,189,912.16, an increase from ¥52,605,545.77 in Q1 2019[30]. - Cash inflow from operating activities totaled ¥157,516,515.54, compared to ¥139,989,561.78 in the same period last year, reflecting a growth of 12.6%[31]. - Cash flow from financing activities showed a net increase of ¥28,998,066.67, compared to a net outflow of -¥18,130,500.01 in the previous year[13]. - Cash flow from financing activities for Q1 2020 was a net inflow of ¥28,998,066.67, compared to a net outflow of ¥18,130,500.01 in Q1 2019[30]. Shareholder Information - The number of shareholders at the end of the reporting period was 16,457[10]. - The largest shareholder, Yi Weihua, held 27.31% of the shares, with 25,834,251 shares pledged[10]. Research and Development - R&D expenses increased by 37.77% to ¥5,835,449.41 compared to ¥4,235,559.92 in the same period last year[13]. - Research and development expenses for Q1 2020 were CNY 5,835,449.41, up from CNY 4,235,559.92 in Q1 2019, indicating a year-over-year increase of 37.7%[25]. - The company incurred research and development expenses of ¥5,835,449.41 in Q1 2020, up from ¥4,235,559.92 in Q1 2019[27]. Financial Ratios - The weighted average return on equity decreased by 1.03 percentage points to -0.39%[5]. - The gross profit margin declined, leading to an operating profit of -¥3,959,768.56, down from ¥13,857,553.94 in the previous year[13]. Inventory and Receivables - Accounts receivable decreased by 45.46% to CNY 17,410,108.93 due to the collection of overdue receivables[12]. - Accounts receivable decreased to CNY 151,361,614.63 from CNY 181,492,463.75, representing a reduction of approximately 16.6%[20]. - Inventory decreased slightly to ¥22,259,823.75 from ¥22,542,787.96, indicating stable inventory management[17]. - Inventory decreased slightly to CNY 20,032,841.04 from CNY 21,296,397.63, a decline of about 5.9%[20]. Financial Expenses - Financial expenses rose significantly by 490.81% to -¥7,822,909.63, primarily due to increased exchange rate fluctuations[13]. - The company reported a financial expense of CNY -7,822,909.63 in Q1 2020, compared to CNY -1,324,108.82 in Q1 2019, highlighting a significant change in financial performance[25].