BPSemi(SH:688368)2020-04-29 16:00Financial Performance - Operating revenue for the first quarter reached CNY 181,731,240.39, a year-on-year increase of 9.59%[6] - Net profit attributable to shareholders decreased by 75.56% to CNY 2,739,982.40 compared to the same period last year[6] - Basic earnings per share dropped by 83.33% to CNY 0.04 per share[6] - Operating profit for Q1 2020 decreased to CNY 3,076,542.99, down 73.3% from CNY 11,541,407.28 in Q1 2019[38] - Net profit for Q1 2020 was CNY 3,049,642.55, a decline of 73.9% compared to CNY 11,644,866.79 in Q1 2019[38] - The company reported a total comprehensive income for Q1 2020 of -¥646,822, contrasting sharply with a comprehensive income of ¥13.23 million in Q1 2019[43] - Basic and diluted earnings per share for Q1 2020 were both -¥0.01, down from ¥0.29 in Q1 2019, indicating a decline of 103.4%[43] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -45,034,404.13, a decline of 918.67% year-on-year[6] - The company reported a net cash outflow from operating activities of approximately -¥45.03 million in Q1 2020, compared to a positive cash flow of ¥5.50 million in Q1 2019[46] - The company generated cash inflows from investment activities totaling approximately ¥473.85 million in Q1 2020[46] - The cash flow from investment activities included 470,500,000.00 RMB from recovering investments[49] - The total cash and cash equivalents at the end of Q1 2020 amounted to 125,201,863.85 RMB, up from 58,863,873.20 RMB at the end of Q1 2019, reflecting a net increase of 3,582,413.34 RMB[49] Assets and Liabilities - Total assets increased by 3.45% to CNY 1,419,699,706.05 compared to the end of the previous year[6] - Total assets as of March 31, 2020, amounted to CNY 1,417,487,170.80, compared to CNY 1,373,143,250.65 as of March 31, 2019[36] - Total liabilities as of March 31, 2020, were CNY 266,182,721.38, an increase from CNY 238,284,328.63 in the previous year[36] - The company reported a significant increase in other payables by 258.41% to RMB 16,178,244.45, primarily due to unpaid equity investment amounts[17] - The total liabilities to equity ratio is approximately 0.21, indicating a conservative leverage position[58] Shareholder Information - The number of shareholders at the end of the reporting period was 5,249[12] - The top three shareholders held a combined 73.05% of the total shares, indicating significant ownership concentration[12] Research and Development - R&D expenses accounted for 9.44% of operating revenue, an increase of 0.25 percentage points compared to the previous year[8] - The company reported a significant increase in R&D expenses, totaling CNY 17,149,701.58 in Q1 2020, compared to CNY 15,237,149.31 in Q1 2019[38] - Research and development expenses increased to ¥17.02 million in Q1 2020, up from ¥15.24 million in Q1 2019, reflecting a growth of 11.7%[42] Inventory and Other Assets - Inventory increased by 49.02% to RMB 161,129,176.04 due to seasonal inventory adjustments[16] - Other current assets surged by 2622.97% to RMB 9,237,897.02 primarily from deferred VAT deductions[16] - Intangible assets rose by 66.28% to RMB 16,540,492.75 due to changes in the scope of consolidation from equity investments[16] - Accounts receivable increased to CNY 209,713,756.67 from CNY 202,532,617.98 year-over-year[35] Taxation - The company reported a 41.73% decrease in taxes payable to RMB 1,151,504.72, mainly due to reduced VAT obligations[17] - The company paid 7,599,644.98 RMB in taxes during Q1 2020, compared to 6,458,332.15 RMB in Q1 2019, reflecting an increase of approximately 17.7%[49] Other Financial Metrics - The weighted average return on equity decreased by 4.10 percentage points to 0.24%[6] - The company recognized a total of CNY 6,265,186.45 in non-recurring gains and losses during the reporting period[11] - Management expenses increased by 309.61% to RMB 26,667,693.18, mainly due to higher share-based payment costs[18] - Other income grew by 72.60% to RMB 151,884.60 from deferred income related to assets[18] - The company experienced an 86.06% reduction in credit impairment losses to RMB 21,945.71, resulting from decreased accounts receivable[18]