Neoway(SH:688159)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 162.39% to a loss of CNY 9,633,019.08 compared to the same period last year[5]. - Operating revenue decreased by 28.71% to CNY 114,714,005.47 compared to the previous year[5]. - Basic and diluted earnings per share were both -CNY 0.11, a decrease of 147.83% compared to the previous year[5]. - The company reported a gross loss of ¥11,951,801.01 for Q1 2020, compared to a gross profit of ¥43,192,385.27 in Q1 2019[27]. - Operating profit for Q1 2020 was a loss of ¥10,497,601.62, compared to a profit of ¥17,337,143.42 in Q1 2019[28]. - The company reported a total comprehensive loss of -4,903,770.10 RMB for the quarter, indicating challenges in profitability[30]. Cash Flow - Cash flow from operating activities showed a significant decline of 739.17%, resulting in a net cash outflow of CNY 100,852,885.48[5]. - In Q1 2020, the company reported a net cash flow from operating activities of -100,852,885.48 RMB, a significant decline compared to 15,778,846.24 RMB in Q1 2019, indicating a negative cash flow trend[33]. - The company experienced a cash outflow of 264,381,437.23 RMB in operating activities, which is an increase of 49.8% compared to 176,483,630.08 RMB in Q1 2019[33]. - Total cash inflow from operating activities was 163,528,551.75 RMB, down 15% from 192,262,476.32 RMB in the same period last year[33]. - Investment activities resulted in a net cash outflow of -292,336,798.48 RMB, worsening from -39,685,224.65 RMB in the previous year[33]. - The net cash flow from financing activities was 413,466,331.45 RMB, compared to 26,045,871.16 RMB in the same quarter last year, reflecting a strong financing position[34]. Assets and Liabilities - Total assets increased by 37.37% to CNY 1,357,570,255.74 compared to the end of the previous year[5]. - Total current assets increased to CNY 1,151,353,215.80 as of March 31, 2020, up from CNY 789,176,644.23 as of December 31, 2019, representing a growth of approximately 46.1%[19]. - Total liabilities decreased to CNY 441,858,053.13 from CNY 475,564,221.37, a reduction of about 7.1%[21]. - Shareholders' equity increased significantly to CNY 915,712,202.61 from CNY 512,682,353.13, representing a growth of approximately 78.6%[21]. - The company reported a decrease in prepayments by CNY 3,095,062.52, indicating a shift in cash flow management[40]. - Long-term borrowings were recorded at CNY 65,707,183.00, suggesting a stable debt structure[40]. Research and Development - Research and development expenses accounted for 15.23% of operating revenue, an increase of 7.67 percentage points[5]. - Research and development expenses increased by 43.72% to RMB 17.47 million, up from RMB 12.16 million in Q1 2019[14]. - The company's R&D expenses increased to ¥17,472,020.81 in Q1 2020, up 43.5% from ¥12,157,400.64 in Q1 2019[27]. Shareholder Information - The number of shareholders reached 8,505 at the end of the reporting period[10]. - The company issued new shares, resulting in a 33.33% increase in share capital to RMB 91.68 million from RMB 68.76 million[14]. - Shareholders' equity increased to ¥944,380,839.07 in Q1 2020, up from ¥536,621,740.61 in Q1 2019, representing a growth of 75.9%[25]. Inventory and Receivables - Inventory increased by 32.80% to RMB 266.61 million, compared to RMB 200.76 million at the end of 2019, due to increased material stocking in response to COVID-19[13]. - Other receivables rose by 37.57% to RMB 19.74 million, attributed to unreceived invoices at the end of the reporting period[13]. - The company reported a total of CNY 356,330,675.82 in accounts receivable as of March 31, 2020, compared to CNY 386,947,351.55 in the previous quarter, indicating a decrease of about 7.9%[24].