XINRI E-VEHICLE(SH:603787)2020-04-24 16:00Financial Performance - Operating revenue decreased by 37.96% to CNY 383,408,739.77 year-on-year[6] - Net profit attributable to shareholders decreased by 242.34% to a loss of CNY 23,389,758.88 compared to the same period last year[6] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 523.06% to a loss of CNY 25,836,681.06[6] - The weighted average return on net assets decreased by 4.19 percentage points to -2.46%[6] - Basic earnings per share dropped by 237.50% to -CNY 0.11[6] - The company reported a 97.39% decline in investment income, down to RMB 130,529.56 from RMB 5,001,170.40, primarily due to reduced returns from bank wealth management products[10] - The company reported a net loss of -4,027,923.75 CNY for Q1 2020, compared to a net profit of 5,278,171.91 CNY in Q1 2019, highlighting a significant downturn in overall financial performance[24] - The company's total comprehensive income for Q1 2020 was -23,391,698.12 CNY, compared to 16,432,054.96 CNY in Q1 2019, showing a substantial decrease[21] Assets and Liabilities - Total assets increased by 3.75% to CNY 1,888,678,930.84 compared to the end of the previous year[6] - Total assets as of March 31, 2020, amounted to CNY 1,609.17 million, an increase from CNY 1,577.53 million at the end of 2019[18] - Total liabilities as of March 31, 2020, were CNY 844.14 million, compared to CNY 808.48 million at the end of 2019[18] - The total equity attributable to shareholders reached ¥963,515,329.68, with retained earnings of ¥474,528,098.35[35] - The company’s total liabilities and equity combined reached ¥1,820,345,697.31[35] Cash Flow - Net cash flow from operating activities improved by 61.87% to -CNY 51,736,294.89 compared to the previous year[6] - Cash inflows from operating activities decreased to 367,714,042.63 CNY in Q1 2020, down from 478,413,692.60 CNY in Q1 2019, a decline of 23.2%[26] - The net cash flow from operating activities for Q1 2020 was -61,161,071.18 RMB, compared to -187,198,827.40 RMB in Q1 2019, showing an improvement of approximately 67% year-over-year[31] - The net cash flow from investing activities was -29,787,653.15 RMB in Q1 2020, compared to 404,943,319.50 RMB in Q1 2019, indicating a significant decline in investment returns[31] Shareholder Information - The total number of shareholders reached 14,000 by the end of the reporting period[8] - The largest shareholder, Zhang Chongshun, holds 45.50% of the shares, with 29,019,000 shares pledged[8] Impact of COVID-19 - The company experienced a decline in market demand due to the COVID-19 pandemic, impacting revenue and profit figures significantly[5] - Revenue for Q1 2020 was RMB 383,408,739.77, a decrease of 37.96% compared to RMB 618,043,840.63 in the previous period, primarily due to the impact of COVID-19[9] Operational Costs and Expenses - Operating costs decreased by 32.59% to RMB 349,833,968.85 from RMB 518,933,191.75, reflecting a reduction in costs corresponding to lower sales revenue[9] - Sales expenses decreased by 37.54% to RMB 31,599,510.17 from RMB 50,592,061.03, largely due to reduced marketing expenses amid the pandemic[9] - The company reported a decrease in research and development expenses to CNY 11.43 million in Q1 2020 from CNY 11.90 million in Q1 2019[20] Changes in Accounting Standards - The company implemented new revenue accounting standards, resulting in the recognition of contract liabilities of RMB 33,316,754.14 during the reporting period[9] - The company has implemented new revenue recognition standards effective January 1, 2020, impacting the classification of contract liabilities[39]