SINOMED(SH:688108)2020-04-23 16:00Financial Performance - Operating revenue for the period was CNY 72.12 million, representing a decline of 28.84% year-on-year[6]. - Net profit attributable to shareholders was CNY 7.88 million, down 66.21% from the previous year[6]. - The net profit after deducting non-recurring gains and losses was CNY 6.61 million, a decrease of 71.14% compared to the same period last year[6]. - Basic and diluted earnings per share were both CNY 0.02, down 66.67% from the previous year[6]. - The company reported a total operating cost of 62,280,142.35 RMB in Q1 2020, a reduction of 14.8% from 73,055,588.24 RMB in Q1 2019[30]. - Operating profit for Q1 2020 was 12,005,982.73 RMB, down 58.6% from 28,367,962.30 RMB in Q1 2019[30]. - Comprehensive income for Q1 2020 was 8,116,229.27 RMB, a decrease of 64.6% from 22,859,022.36 RMB in Q1 2019[31]. Cash Flow - The net cash flow from operating activities was negative CNY 2.05 million, an improvement of 45.75% year-on-year[6]. - The company reported a net cash outflow from operating activities of ¥2,051,148.03 in Q1 2020, an improvement of 45.75% compared to a net outflow of ¥3,780,743.40 in Q1 2019[16]. - The cash inflow from operating activities was CNY 103,100,099.90, a decrease of 27.5% compared to CNY 142,195,909.80 in Q1 2019[36]. - The net cash flow from investment activities was CNY -252,195,657.01, worsening from CNY -78,811,719.50 year-over-year[37]. - The cash outflow for investment activities totaled CNY 252,195,657.01, significantly higher than CNY 78,811,719.50 in Q1 2019, indicating increased investment[37]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 1.19 billion, a decrease of 1.22% compared to the end of the previous year[6]. - Cash and cash equivalents at the end of Q1 2020 were ¥384,165,237.95, a decrease of 39.82% from ¥638,380,397.83 at the end of 2019, attributed to investments in principal-protected financial products[13]. - Total liabilities were reported at ¥84,309,301.64, down from ¥107,107,238.58, reflecting a decrease of about 21%[23]. - Current liabilities decreased to ¥56,290,137.37 from ¥79,179,837.31, indicating a reduction of approximately 29%[22]. - Shareholders' equity increased to ¥1,106,629,635.63 from ¥1,098,513,406.36, showing a growth of approximately 0.8%[23]. Shareholder Information - The total number of shareholders at the end of the reporting period was 10,869[9]. - The top ten shareholders held a combined 92.59% of the shares, with the largest shareholder owning 22.17%[9]. Research and Development - Research and development expenses accounted for 34.54% of operating revenue, an increase of 0.07 percentage points compared to the previous year[6]. - Research and development expenses increased to 19,268,529.24 RMB in Q1 2020, up 7.3% from 17,957,433.75 RMB in Q1 2019[30]. Other Income and Expenses - The company’s other income increased significantly by 631.83% to ¥544,809.26, driven by government subsidies and deferred income recognition[14]. - The tax expense for Q1 2020 was 3,165,834.86 RMB, a decrease of 41.5% compared to 5,413,434.85 RMB in Q1 2019[30]. - Sales expenses decreased significantly to 15,866,595.25 RMB, down 34% from 24,080,390.20 RMB in Q1 2019[30]. Future Outlook - The company expects a significant change in net profit compared to the same period last year, with a positive outlook for the next reporting period[19].