NBJF(SH:603997)2020-04-29 16:00Financial Performance - Operating revenue fell by 14.34% to CNY 3,958,927,959.23 year-on-year[11] - Net profit attributable to shareholders was a loss of CNY 47,941,980.55, compared to a profit of CNY 60,369,970.68 in the same period last year[11] - Basic earnings per share were CNY -0.05, down from CNY 0.06 in the same period last year[11] - The company reported a loss of CNY 49,812,800.75 for net profit after deducting non-recurring gains and losses[11] - The company anticipates a significant decline in net profit for the year, with a warning of potential losses compared to the previous year's profit of approximately $125 million[25] - Total comprehensive income for Q1 2020 was CNY 33,622,731.30, compared to CNY 63,114,401.15 in Q1 2019, indicating a decrease[50] Cash Flow - Net cash flow from operating activities was negative at CNY -139,866,050.97, compared to a positive CNY 65,541,837.72 in the previous year[11] - The net cash flow from operating activities turned negative at approximately -$139.87 million, a decline of over $205 million compared to the previous year, impacted by factory closures and a downturn in the automotive industry[23] - Cash inflow from operating activities totaled CNY 4,635,496,414.95 in Q1 2020, down from CNY 5,013,863,139.91 in Q1 2019, reflecting a decline of approximately 7.5%[54] - Net cash flow from financing activities improved to approximately $63.30 million, a turnaround from -$155.31 million in the previous year, reflecting the company's efforts to secure liquidity[23] - The company paid CNY 1,042,893,551.21 to employees in Q1 2020, a decrease from CNY 1,191,356,310.24 in Q1 2019, reflecting a reduction of about 12.5%[54] Assets and Liabilities - Total assets decreased by 4.05% to CNY 16,853,437,346.87 compared to the end of the previous year[11] - The total current assets decreased to approximately $6.48 billion from $7.18 billion at the end of the previous year, primarily due to declines in cash and accounts receivable[28] - Long-term borrowings rose by 30.45% to approximately $2.31 billion, as the company replaced short-term loans with long-term financing to alleviate cash flow pressure[19] - Total liabilities decreased from 12,646,402,880.35 to 11,926,223,339.27, a decline of about 5.7%[31] - Current liabilities decreased from 7,038,603,398.15 to 5,963,239,201.66, a reduction of about 15.3%[30] Shareholder Information - The total number of shareholders at the end of the reporting period was 20,612[15] - The largest shareholder, Ningbo Jihong Investment Co., Ltd., held 32.48% of the shares, with 332,441,497 shares pledged[15] - Shareholders' equity increased slightly from 4,919,126,727.72 to 4,927,214,007.60, an increase of about 0.16%[31] Government Support and Subsidies - The company received government subsidies amounting to CNY 2,446,044.90 during the period[13] Foreign Exchange and Other Comprehensive Income - The company reported a significant increase in foreign exchange losses, with a change of 1881.71% to approximately -$92.74 million, largely due to currency fluctuations during the pandemic[22] - The company experienced a substantial increase in other comprehensive income, improving by 90.92% to approximately -$5.87 million, reflecting changes in pension liabilities[19] Research and Development - Research and development expenses increased slightly to ¥66,729,103.08 in Q1 2020 from ¥65,055,882.09 in Q1 2019[42] - Development expenditures decreased by 34.63% to approximately $51.87 million, attributed to the capitalization of R&D projects into intangible assets[20] Changes in Accounting Standards - The company has implemented new revenue recognition standards effective January 1, 2020, impacting the classification of contract liabilities[66] - The company has implemented new revenue and leasing standards, which may impact future financial reporting and performance metrics[63]