Appo(SH:688007)2020-04-28 16:00Financial Performance - Operating revenue for the first quarter was CNY 306,900,748.84, down 14.60% year-on-year[11] - Net profit attributable to shareholders was CNY 13,322,216.29, representing a decline of 52.16% compared to the same period last year[11] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -7,989,708.14, a decrease of 146.24% year-on-year[11] - Basic earnings per share were CNY 0.03, a decrease of 57.14% compared to CNY 0.07 in the same period last year[11] - Net profit for the first quarter decreased by 80.59% to RMB 7,299,713 from RMB 37,606,521, attributed to reduced revenue and increased expenses[24] - The total profit for Q1 2020 was approximately $13.9 million, a decrease of 73.6% from $52.7 million in Q1 2019[54] - The company’s comprehensive income for Q1 2020 was approximately $11.1 million, compared to $34.5 million in Q1 2019, indicating a decline of 67.7%[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,984,904,808.29, a decrease of 3.70% compared to the end of the previous year[11] - The company’s total liabilities decreased by 43.88% to RMB 36,459,795.66 from RMB 64,968,795.02, primarily due to a reduction in long-term borrowings[23] - Total liabilities decreased from ¥975,298,947.03 to ¥839,903,522.37, a reduction of approximately 14%[46] - Total current liabilities decreased to approximately CNY 551.56 million from CNY 648.01 million, a decline of about 14.9%[40] - The total amount of contract liabilities was adjusted to CNY 11,116,659.11 due to the new revenue recognition standards[84] Cash Flow - Cash flow from operating activities was CNY -38,289,185.55, an improvement compared to CNY -65,364,673.16 in the same period last year[11] - The net cash flow from operating activities improved to -CNY 38,289,185.55 in Q1 2020 from -CNY 65,364,673.16 in Q1 2019, showing a positive change of approximately 41.5%[64] - Cash inflow from investment activities significantly increased to CNY 546,234,390.24 in Q1 2020, compared to CNY 3,700,000.00 in Q1 2019[64] - Cash outflow from financing activities decreased to CNY 84,058,542.79 in Q1 2020 from CNY 111,570,541.75 in Q1 2019, reflecting a reduction of approximately 24.7%[66] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,029[14] - Total equity attributable to shareholders increased from ¥1,974,559,837.64 to ¥2,001,216,429.95, a rise of approximately 1.3%[46] Research and Development - Research and development expenses accounted for 14.26% of operating revenue, an increase of 4.09 percentage points year-on-year[11] - Research and development expenses increased to approximately $43.8 million in Q1 2020, up from $36.5 million in Q1 2019, reflecting a 19.5% increase[52] Legal Matters - The company has 5 ongoing civil lawsuits as a defendant, with claims totaling RMB 1,614.53 million[27] - The company signed a mediation agreement with Casio Computer Co., Ltd. in March 2020 to resolve multiple litigation cases[28] - The company has four invalidation requests as a patent holder, indicating ongoing legal challenges in its intellectual property[30] - The company has also filed four invalidation requests against patents held by Delta Electronics, reflecting its active stance in protecting its intellectual property[30] Other Income and Expenses - The company reported a significant increase in other income, which rose to approximately $14.0 million in Q1 2020 from $7.0 million in Q1 2019[52] - The company reported a tax expense of approximately $6.6 million for Q1 2020, down from $15.1 million in Q1 2019[54]