BYE(SH:603861)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders was -¥81,119,221.55, a decrease of 446.76% year-on-year[8] - Operating revenue for the period was ¥313,656,931.29, down 36.78% from the previous year[8] - The net cash flow from operating activities was -¥261,436,174.68, representing a decline of 172.24% compared to the same period last year[8] - Basic earnings per share were -¥0.1795, a decrease of 439.96% year-on-year[9] - The weighted average return on equity was -3.01%, a decrease of 400.06 basis points compared to the previous year[9] - The company anticipates a significant fluctuation in net profit compared to the previous year due to various operational challenges[19] - Total operating revenue for Q1 2020 was ¥313,656,931.29, a decrease of 36.8% compared to ¥496,113,527.88 in Q1 2019[32] - Net profit for Q1 2020 was a loss of ¥88,918,996.09, compared to a profit of ¥21,737,827.63 in Q1 2019, indicating a significant decline[32] - The company's gross margin for Q1 2020 was approximately -24.5%, compared to a positive margin in Q1 2019[32] - The company reported a total comprehensive income of -53,005,096.35 RMB for the quarter, compared to 27,022,492.17 RMB in Q1 2019[37] Shareholder Information - The total number of shareholders at the end of the reporting period was 19,322[13] - The top three shareholders, each holding 15.93% of shares, are Hu Mingsen, Hu Minggao, and Hu Mingcong, all of whom have pledged part of their shares[13] - The total number of shareholders is 21,078[15] Assets and Liabilities - Total assets at the end of the reporting period reached ¥6,841,193,418.43, an increase of 0.55% compared to the previous year[8] - Current assets totaled CNY 4,721,717,361.01, slightly up from CNY 4,695,760,193.10, indicating an increase of about 0.55%[25] - Total liabilities increased to CNY 4,109,482,363.13 from CNY 4,014,741,385.97, indicating a rise of approximately 2.5%[26] - The company's equity attributable to shareholders decreased to CNY 2,488,106,340.93 from CNY 2,563,334,198.12, a decline of about 2.93%[26] - The total liabilities as of Q1 2020 were ¥3,349,200,933.32, an increase from ¥3,267,603,065.07 in Q1 2019[32] - The total equity decreased to ¥2,467,683,888.81 in Q1 2020 from ¥2,514,797,620.80 in Q1 2019, reflecting a decline of 1.9%[32] Cash Flow - The company reported a significant increase in net cash flow from financing activities of CNY 187,341,723.17, compared to -21,668,172.57 in Q1 2019, indicating a positive turnaround[38] - In Q1 2020, the company reported a net cash flow from operating activities of -261,436,174.68 RMB, compared to -96,031,675.31 RMB in Q1 2019, indicating a significant decline in operational cash flow[38] - Total cash inflow from operating activities was 523,500,032.86 RMB, down from 694,900,924.14 RMB in the same period last year, reflecting a decrease of approximately 24.6%[38] - The ending cash and cash equivalents balance was 581,681,396.69 RMB, down from 877,218,577.05 RMB at the beginning of the quarter, reflecting a decrease of approximately 33.8%[38] Operational Insights - The company has not disclosed any new product developments or market expansion strategies in this report[4] - The company is focusing on expanding its market presence in the rail transit, power grid, and 5G infrastructure sectors[20] - The company has implemented a digital transformation strategy with the launch of a green intelligent digital factory to enhance production efficiency[20] Investment and Expenses - The company reported non-operating income of ¥2,291,835.81 from government subsidies, which is a significant contributor to the financial results[10] - The company's short-term borrowings increased by 43.36% to CNY 714,129,448.82 due to increased bank loans[17] - The company experienced a 57.97% increase in other receivables, totaling CNY 84,352,042.36, primarily due to increased bid guarantees[17] - Research and development expenses in Q1 2020 were ¥18,713,956.01, slightly down from ¥20,968,914.09 in Q1 2019, showing a decrease of 10.7%[32] - The company reported a significant increase in financial expenses, with total financial costs reaching ¥15,112,893.39 in Q1 2020, up from ¥7,727,891.07 in Q1 2019[32]