SITONG(SH:603838)2020-04-28 16:00Financial Performance - Operating income decreased by 21.04% to CNY 64,435,419.39 year-on-year[5] - Net profit attributable to shareholders decreased by 93.08% to CNY 751,855.10 compared to the same period last year[5] - Basic and diluted earnings per share decreased by 75.00% to CNY 0.01[5] - Total revenue decreased to ¥4,426,551.54, down 66.45% compared to ¥13,192,699.62 in the same period last year[17] - Net profit attributable to shareholders decreased to ¥3,849,943.82, a decline of 64.46% from ¥10,833,835.03[17] - The total comprehensive income attributable to shareholders decreased to ¥3,865,553.07, down 64.27% from ¥10,817,500.21[17] - The company reported a total liability of CNY 335,027,926.33 as of March 31, 2020, compared to CNY 159,770,783.10 in the previous period[30] - The company reported a significant asset impairment loss of CNY -4,363,296.97 in Q1 2020, compared to a gain of CNY 346,300.69 in Q1 2019[37] Cash Flow - Cash flow from operating activities improved significantly, with a net cash inflow of CNY 14,165,233.00, a turnaround from a net outflow of CNY 14,002,609.42 in the previous year[5] - Cash inflow from operating activities in Q1 2020 was CNY 91,860,826.62, an increase of 11.5% compared to CNY 82,219,766.50 in Q1 2019[42] - Net cash flow from operating activities in Q1 2020 was CNY 14,165,233.00, a significant improvement from a net outflow of CNY 14,002,609.42 in Q1 2019[42] - Cash inflow from financing activities reached ¥196,000,000.00, up 553.33% from ¥30,000,000.00[20] - The net cash flow from financing activities in Q1 2020 was CNY 196,000,000.00, a significant increase from CNY 19,861,989.58 in Q1 2019[43] Assets and Liabilities - Total assets increased by 19.71% to CNY 1,087,876,070.37 compared to the end of the previous year[5] - Cash and cash equivalents decreased by 46.33% to ¥87,547,199.30 due to the purchase of structured deposits and a reduction in financial products over three months[12] - Intangible assets surged by 318.05% to ¥304,970,039.53 mainly from acquiring land use rights[13] - Short-term borrowings amounted to ¥196,000,000.00, reflecting new loans taken by a subsidiary[13] - The company's current liabilities included short-term borrowings of ¥196 million and accounts payable of approximately ¥14.74 million[28] - The company’s long-term equity investments decreased from ¥68.70 million at the end of 2019 to ¥59.73 million as of March 31, 2020[28] Shareholder Information - The total number of shareholders reached 15,026, indicating a stable shareholder base[10] - The top ten shareholders collectively hold 60.96% of the shares, with Huang Jianping being the largest individual shareholder at 8.88%[10] Operational Insights - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The first quarter report has not been audited, which may affect the reliability of the financial data presented[5] - Management expenses rose by 119.74% to ¥7,904,573.26 due to increased depreciation and amortization costs[15] - Research and development expenses for Q1 2020 were CNY 3,344,489.87, a slight decrease of 6.3% from CNY 3,571,502.34 in Q1 2019[39] Investment Activities - Cash outflow from investment activities surged to ¥353,546,355.95, a 1,385.91% increase from ¥23,793,276.11[20] - Investment income increased by 386.44% to ¥952,710.37 due to higher returns from equity method investments[16] - The company received a return of investment amounting to ¥7.20 million from Chaozhou Guangzhantong Ceramics Co., Ltd. after a capital reduction[22] Future Outlook - The company expects a significant decline in cumulative net profit for the year due to reduced export sales orders and increased depreciation and amortization expenses related to new projects[24] - The non-public offering of shares was approved, with plans to raise up to ¥500 million to fund an annual production capacity of 8 million square meters of special high-performance ceramic panels[23]