兴业股份(603928) - 2020 Q1 - 季度财报

Financial Performance - Net profit attributable to shareholders was CNY 25,153,150.74, down 27.75% year-on-year[6]. - Operating revenue for the period was CNY 257,694,152.21, a decrease of 17.82% compared to the same period last year[6]. - The company's total equity increased to ¥1,346,318,260.33 from ¥1,320,858,766.70, reflecting retained earnings growth[17]. - The company's revenue for Q1 2020 was ¥243,751,859.44, a decrease of 20.1% compared to ¥304,879,475.36 in Q1 2019[24]. - The net profit for Q1 2020 was ¥27,053,661.78, down 18.3% from ¥33,096,660.57 in Q1 2019[25]. - The company reported a gross profit margin of approximately 10.0% for Q1 2020, down from 12.9% in Q1 2019[22]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 185.35% to CNY 61,243,541.85 compared to the previous year[6]. - Cash and cash equivalents increased by 180.92% to CNY 33,208,280.37 due to increased working capital management needs[11]. - Cash and cash equivalents stood at ¥33,208,280.37, up from ¥11,821,468.55 at the end of 2019, indicating improved liquidity[15]. - The company reported a net cash flow from operating activities of ¥61,243,541.85, significantly up from ¥21,462,845.28 in Q1 2019[28]. - Cash inflow from investment activities totaled ¥99,464,548.90 in Q1 2020, compared to ¥20,117,365.00 in Q1 2019, indicating a substantial increase[32]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,534,271,692.27, a decrease of 0.31% compared to the end of the previous year[6]. - Total liabilities decreased to ¥187,953,431.94 from ¥218,235,481.40, indicating improved financial stability[17]. - Total current assets amounted to RMB 1,089,907,220.73 as of December 31, 2019[39]. - Total liabilities amounted to RMB 171,738,889.67, reflecting a manageable debt level[41]. - The total assets as of December 31, 2019, were ¥1,539,094,248.10, remaining unchanged as of January 1, 2020[34]. Shareholder Information - The number of shareholders at the end of the reporting period was 13,610[9]. - The largest shareholder, Wang Jinxing, held 28.17% of the shares, totaling 56,782,900 shares[9]. Expenses and Costs - Employee compensation decreased by 32.66% to ¥17,241,867.40 due to year-end bonus payments during the reporting period[12]. - Financial expenses dropped by 96.65% to ¥60,888.94 primarily due to reduced cash discounts and no bank loan interest expenses[12]. - Total operating costs for Q1 2020 were CNY 227,152,682.76, down 16.7% from CNY 272,553,279.32 in Q1 2019[22]. - Research and development expenses for Q1 2020 were ¥7,497,594.40, a decrease of 12.8% compared to ¥8,604,389.86 in Q1 2019[24]. Accounting Changes - The company implemented new revenue recognition standards starting January 1, 2020, which did not affect prior financial results[38]. - The adjustment of RMB 1,227,560.02 from "prepayments" to "contract liabilities" reflects compliance with the new standards[42]. - The company confirmed that the change in accounting policy will not affect prior years' financial results[43].