L&K(SH:603929)2020-04-29 16:00Financial Performance - Operating revenue fell by 76.68% to CNY 142,054,136.84 year-on-year[5] - Net profit attributable to shareholders was a loss of CNY 12,144,305.52, a decline of 132.24% compared to the previous year[5] - Basic and diluted earnings per share were both CNY -0.06, down 133.33% from CNY 0.18 in the previous year[5] - The company reported a significant drop in financial assets, with trading financial assets decreasing by 97.41% to RMB 5,039,531.51 from RMB 194,488,287.67[12] - The net profit for Q1 2020 was a loss of ¥12,811,489.24, contrasting with a net profit of ¥37,819,387.23 in Q1 2019, marking a shift of approximately 133.9%[25] - The total comprehensive income for Q1 2020 was a loss of ¥12,803,038.18, compared to a comprehensive income of ¥36,767,487.98 in Q1 2019[26] Assets and Liabilities - Total assets decreased by 14.02% to CNY 1,828,902,505.18 compared to the end of the previous year[5] - Total liabilities decreased from CNY 959,668,138.53 to CNY 674,346,720.58, representing a decrease of approximately 29.8%[19] - Current liabilities decreased from CNY 959,546,066.61 to CNY 674,337,737.70, a reduction of about 29.8%[19] - Total equity decreased from CNY 1,167,425,846.33 to CNY 1,154,555,784.60, a decline of about 1.1%[19] - Cash and cash equivalents decreased from CNY 271,662,368.08 to CNY 166,739,922.71, a drop of approximately 38.7%[21] - Accounts receivable decreased from CNY 831,411,603.61 to CNY 338,780,413.98, a decline of about 59.3%[21] - Inventory decreased from CNY 445,011,838.85 to CNY 123,171,266.08, a reduction of approximately 72.2%[21] Cash Flow - Net cash flow from operating activities was negative at CNY -192,249,834.72, compared to CNY -156,976,097.84 in the same period last year[5] - Cash flow from operating activities in Q1 2020 was ¥255,930,034.71, down from ¥464,052,323.44 in Q1 2019, reflecting a decrease of about 44.8%[29] - Total cash inflow from operating activities was 263,910,778.37 RMB, while cash outflow was 456,160,613.09 RMB, resulting in a net cash flow deficit[30] - The company reported a significant decrease in cash received from sales of goods and services, totaling 217,438,152.72 RMB in Q1 2020, down from 458,082,305.91 RMB in Q1 2019, reflecting a 52.5% decline[33] Shareholder Information - The total number of shareholders at the end of the reporting period was 18,122[10] - The largest shareholder, Yaxiang Engineering Co., Ltd., held 53.99% of the shares[10] Government Support and Other Income - Government subsidies recognized during the period amounted to CNY 509,620.02[8] - The company received government subsidies, resulting in other income increasing to RMB 509,620.02 from RMB 15,306.29, a rise of 3,229.48%[14] Research and Development - The company has increased its investment in research and development, as indicated by the rise in non-current assets related to R&D projects[13] - Research and development expenses for Q1 2020 were ¥4,825,301.19, slightly up from ¥4,118,681.84 in Q1 2019, showing an increase of approximately 17.2%[24] Impact of COVID-19 - The company anticipates potential losses for the year, influenced by the ongoing impacts of the COVID-19 pandemic and reduced demand from downstream customers[14]