Chunqiu ET(SH:603890)2020-04-27 16:00Financial Performance - Net profit attributable to shareholders rose by 103.33% to CNY 41,889,868.65 year-on-year[6] - Operating revenue increased by 15.66% to CNY 477,664,756.16 compared to the same period last year[6] - Basic earnings per share increased by 87.50% to CNY 0.15[6] - The company reported a net profit of CNY 136,065,736.62, down from CNY 145,584,262.92, reflecting a decrease of approximately 6.5%[22] - Total operating revenue for Q1 2020 was ¥477.66 million, an increase of 15.7% compared to ¥412.98 million in Q1 2019[24] - Net profit for Q1 2020 reached ¥41.85 million, representing a 102.5% increase from ¥20.60 million in Q1 2019[25] - Basic and diluted earnings per share for Q1 2020 were ¥0.15, compared to ¥0.08 in Q1 2019[25] Assets and Liabilities - Total assets increased by 2.67% to CNY 2,975,800,806.53 compared to the end of the previous year[6] - Total assets increased to CNY 2,975,800,806.53 from CNY 2,898,376,793.75, representing a growth of approximately 2.8% year-over-year[17] - Non-current assets totaled CNY 1,081,802,624.38, up from CNY 1,067,475,923.84, indicating a growth of about 1.9%[17] - Total liabilities increased to CNY 1,403,168,977.78 compared to CNY 1,372,240,613.98, marking a rise of about 2.3%[18] - Current liabilities rose to CNY 1,328,661,979.41 from CNY 1,319,942,001.96, reflecting an increase of approximately 0.6%[17] - Total current assets increased to ¥1.89 billion from ¥1.83 billion, reflecting a growth in cash and cash equivalents[16] Cash Flow - Net cash flow from operating activities decreased by 56.95% to CNY 23,101,315.67[6] - Net cash received from operating activities rose by 184.71% to ¥34.36 million due to higher government subsidies compared to the previous year[13] - The net cash flow from operating activities was ¥23.10 million in Q1 2020, a decrease of 57.05% from ¥53.67 million in Q1 2019[30] - The company reported a net cash outflow of ¥107.22 million in Q1 2020, compared to a net inflow of ¥130.57 million in Q1 2019[33] Shareholder Information - The number of shareholders reached 15,615 at the end of the reporting period[10] - The largest shareholder, Xue Gewen, holds 43.12% of the shares, with 52,500,000 shares pledged[10] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 5,365,998.52 during the reporting period[8] - Other income surged by 238.06% to ¥1.19 million, mainly from increased government subsidies[13] - The company reported a significant increase in deferred revenue by 84.37% to ¥46.39 million due to government subsidies[12] Research and Development - Research and development expenses increased by 36.10% to ¥23.91 million to enhance market competitiveness[13] - Research and development expenses increased to ¥23.91 million in Q1 2020, up 36.1% from ¥17.57 million in Q1 2019[24] Financial Adjustments and Standards - The company implemented the new revenue recognition standard starting January 1, 2020, which resulted in the reclassification of "prepayments" of 347,135.00 yuan to "contract liabilities" on the balance sheet[44] - The adjustment to the financial statements will not affect the company's financial position or operating results from previous years[44] - The company will not perform retrospective adjustments for comparative data from the previous year due to the new revenue recognition standard[45]