Willfar(SH:688100)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders increased by 16.49% to CNY 32,713,702.67 year-on-year[12] - Operating revenue rose by 4.71% to CNY 238,901,746.89 compared to the same period last year[12] - Basic earnings per share increased by 16.67% to CNY 0.07 compared to the same period last year[12] - The total profit for the first quarter was CNY 38,689,491.26, compared to CNY 32,086,601.06 in the previous year, marking an increase of approximately 20.8%[48] - The net profit for the first quarter of 2020 was CNY 32,810,588.69, compared to CNY 28,047,586.08 in the previous year, reflecting an increase of about 16.5%[48] Assets and Liabilities - Total assets increased by 23.99% to CNY 3,033,927,792.84 compared to the end of the previous year[12] - The company’s total liabilities decreased to CNY 824,530,398.21 from CNY 881,114,690.13, indicating improved financial stability[36] - Total current assets amounted to ¥2,019,359,031.60, with cash and cash equivalents contributing significantly to this figure[66] - Total liabilities stood at ¥881,114,690.13, reflecting the company's financial obligations[69] - The company’s total liabilities were approximately $722.3 million, indicating a manageable debt level[76] Cash Flow - Net cash flow from operating activities decreased by 59.72% to CNY 40,909,667.44 compared to the previous year[12] - Cash inflow from operating activities totaled CNY 290,525,267.06, a slight decrease from CNY 299,320,131.02 in the same period last year, representing a decline of about 2.7%[56] - The net cash flow from operating activities was CNY 40,909,667.44, down from CNY 101,557,034.46 in the first quarter of 2019, indicating a decrease of approximately 59.8%[56] - Cash outflow from investment activities was CNY 672,941,419.32, significantly higher than CNY 246,299,655.22 in the previous year, marking an increase of about 173.5%[58] - Cash inflow from financing activities was CNY 633,948,900.00, with a net cash flow from financing activities of CNY 609,790,834.00, reflecting a strong financing position[58] Shareholder Information - The total number of shareholders reached 12,572 by the end of the reporting period[22] - The largest shareholder, Weisheng Group Co., Ltd., holds 36.67% of the shares[22] Research and Development - The proportion of R&D investment to operating revenue decreased by 0.27 percentage points to 8.64%[12] - Research and development expenses rose to CNY 20,647,055.85 in the latest quarter, slightly up from CNY 20,336,270.50, indicating a focus on innovation[48] Financial Management - The weighted average return on equity decreased by 0.33 percentage points to 1.76%[12] - The company reported a significant increase in credit impairment losses, which amounted to CNY -2,535,168.03 compared to CNY 755,312.63 in the previous year, indicating potential challenges in credit management[48] - The company’s income tax expense increased by 45.55% to CNY 5,878,902.57 from CNY 4,039,014.98, reflecting higher taxable income[26] Investment Income - Investment income increased by 69.05% to CNY 632,299.85 from CNY 374,023.24, mainly due to higher financial investment returns[26] - The company received CNY 632,299.85 in investment income during the first quarter, an increase from CNY 374,023.24 in the same period last year, representing a growth of approximately 69.2%[58]