Youon(SH:603776)2020-04-24 16:00Financial Performance - Operating revenue for the first quarter was CNY 173,941,862.35, down 7.55% year-on-year[7] - Net profit attributable to shareholders was CNY 28,311,568.25, a slight increase of 0.24% compared to the same period last year[7] - Basic earnings per share decreased by 28.57% to CNY 0.15[7] - Total revenue for Q1 2020 was CNY 173,941,862.35, a decrease of 7.3% compared to CNY 188,145,706.87 in Q1 2019[31] - Net profit for Q1 2020 was CNY 28,075,584.55, slightly up from CNY 27,965,212.41 in Q1 2019, representing a growth of 0.4%[32] - Basic earnings per share for Q1 2020 was CNY 0.15, compared to CNY 0.21 in Q1 2019, reflecting a decrease of 28.6%[32] - Total comprehensive income for Q1 2020 was CNY 28,413,389.16, slightly up from CNY 27,021,668.15 in Q1 2019[36] Cash Flow - The net cash flow from operating activities decreased by 54.01% to CNY 15,839,761.07 compared to the previous year[7] - Cash flow from operating activities generated CNY 15,839,761.07, a decline of 54.0% compared to CNY 34,438,432.47 in Q1 2019[38] - The net cash flow from operating activities for Q1 2020 was ¥37,158,095.09, a significant improvement compared to a net outflow of ¥17,282,786.64 in Q1 2019, representing a turnaround of over 215%[41] - Total cash inflow from operating activities increased to ¥222,201,026.10 in Q1 2020, up by approximately 15.7% from ¥192,043,057.08 in Q1 2019[41] - Cash outflow from operating activities decreased to ¥185,042,931.01 in Q1 2020, down by about 11.6% from ¥209,325,843.72 in Q1 2019[41] - The net cash flow from investing activities was negative at -¥29,091,929.36 in Q1 2020, compared to a positive cash flow of ¥54,264,698.03 in Q1 2019, indicating a shift in investment strategy[41] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,880,958,247.82, a decrease of 2.09% compared to the end of the previous year[7] - Total liabilities decreased to ¥1,145,075,124.88 from ¥1,256,052,624.52[25] - The company's total equity increased to ¥2,735,883,122.94 from ¥2,707,777,659.82[25] - Total assets as of March 31, 2020, were CNY 3,822,627,080.92, a slight decrease from CNY 3,862,221,334.27 at the end of 2019[30] - Total liabilities decreased to CNY 1,120,941,407.46 from CNY 1,189,161,314.11 at the end of 2019, a reduction of 5.7%[30] - Current assets totaled CNY 3,193,408,110.64, down from CNY 3,248,592,505.87 at the end of 2019, a decrease of 1.7%[29] - Non-current assets increased to CNY 629,218,970.28 from CNY 613,628,828.40 at the end of 2019, an increase of 2.5%[29] Expenses - Sales expenses decreased by 52.21% to ¥1,553,273.55, primarily due to reduced after-sales maintenance costs[16] - Management expenses decreased by 33.46% to ¥5,905,727.72, mainly attributed to a reduction in travel expenses[16] - Research and development expenses decreased to CNY 7,729,816.15, down 31.5% from CNY 11,313,662.32 in Q1 2019[35] - The company reported a decrease in sales expenses to CNY 831,132.32, down 33.0% from CNY 1,240,924.48 in Q1 2019[35] Investments - Long-term equity investments increased by 181.73% to CNY 24,588,670.95, primarily due to investments in chip companies[13] - Investment income surged by 138.98% to ¥1,718,779.74, mainly from interest income on purchased financial products[16] - Investment cash flow net amount improved by 86.48% to -¥54,625,022.00, mainly due to a reduction in idle fund investments[18] Government Support - The company received government subsidies amounting to CNY 1,249,778.75 during the reporting period[9] Accounting Standards - The company implemented new revenue and leasing standards starting January 1, 2020, which may impact future financial reporting and performance metrics[43] - The company has not made any adjustments to comparable period information under the new revenue standards[51]