RAISECOM(SH:603803)2020-04-23 16:00Financial Performance - Operating revenue fell by 76.55% to CNY 170,625,370.11 year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 47,568,302.59, a decrease of 214.08% compared to the previous year[6] - Basic and diluted earnings per share were both CNY -0.11, a decline of 210.00% from the previous year[6] - The company anticipates a cumulative net profit decline of approximately 80% compared to the same period last year, with expectations to return to profitability by the end of the next quarter[18] - The company's operating revenue for Q1 2020 was CNY 161.66 million, a decrease of 77.3% compared to CNY 713.70 million in Q1 2019[34] - The net profit for Q1 2020 was a loss of CNY 24.79 million, compared to a profit of CNY 46.82 million in Q1 2019, indicating a significant decline in profitability[34] - The total profit for Q1 2020 was a loss of CNY 25.03 million, down from a profit of CNY 47.30 million in the same period last year[34] Assets and Liabilities - Total assets decreased by 5.75% to CNY 3,677,571,294.27 compared to the end of the previous year[6] - Cash and cash equivalents decreased by 21.39% to ¥738,379,196.01 from ¥939,268,614.42 due to increased payments during the reporting period[15] - Accounts receivable decreased by 14.38% to ¥1,000,231,490.97 from ¥1,168,238,429.50, primarily due to reduced sales[15] - Inventory increased by 20.42% to ¥940,326,458.05 from ¥780,851,015.75, attributed to decreased sales volume[15] - Total liabilities decreased to ¥1,099,243,642.71 from ¥1,279,116,221.58, a decrease of 13.9%[23] - Total equity attributable to shareholders decreased to ¥2,578,508,998.65 from ¥2,623,292,829.93, a decline of 1.7%[23] Cash Flow - The net cash flow from operating activities improved by 29.93%, reaching a negative CNY 103,872,331.50[6] - Cash flow from operating activities for Q1 2020 was a net outflow of CNY 103.87 million, an improvement from a net outflow of CNY 148.24 million in Q1 2019[38] - The cash inflow from operating activities totaled CNY 423.92 million in Q1 2020, down from CNY 824.16 million in Q1 2019[38] - The company recorded other income of CNY 5.44 million in Q1 2020, a significant decrease from CNY 86,100 in Q1 2019[34] Shareholder Information - The top ten shareholders hold a total of 9.19% each, with four individuals having equal shares of 38,693,251 shares[10] - The total number of shareholders at the end of the reporting period was not disclosed[9] Government Support - The company received government subsidies amounting to CNY 703,298.16 related to normal business operations[8] Operational Challenges - The company faced supply chain disruptions due to the COVID-19 pandemic, impacting production capacity and sales[18] - Financial expenses increased significantly by 862.17% to ¥6,606,225.51, primarily due to foreign exchange losses[16] Research and Development - R&D expenses for Q1 2020 were ¥50,618,648.06, slightly down from ¥54,711,612.19 in Q1 2019[30] - The company's research and development expenses in Q1 2020 were CNY 43.43 million, slightly down from CNY 48.81 million in Q1 2019[34]