Jia Yuan Technology(SH:688388)2020-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 147,674,107.71, representing a 55.91% decrease year-on-year due to delays in downstream customers' resumption of work and production caused by the COVID-19 pandemic[17]. - Net profit attributable to shareholders was CNY 23,720,058.30, down 70.37% from the same period last year[20]. - Basic earnings per share were CNY 0.10, a decrease of 78.26% compared to CNY 0.46 in the same period last year[17]. - Total operating revenue for Q1 2020 was ¥147,674,107.71, a decrease of 56% compared to ¥334,921,234.10 in Q1 2019[52]. - Net profit for Q1 2020 was ¥23,787,738.30, a decline of 70% from ¥80,053,365.60 in Q1 2019[54]. - Total profit for Q1 2020 was ¥28,019,160.89, a decrease of 70% from ¥93,848,079.36 in Q1 2019[52]. - Total operating costs for Q1 2020 were ¥130,989,836.74, down 46% from ¥242,989,274.95 in Q1 2019[52]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 4,407,190.07, a decline of 103.23% compared to the previous year[17]. - Cash flow from operating activities for Q1 2020 was negative at approximately -¥4.41 million, compared to positive cash flow of ¥136.34 million in Q1 2019[62]. - The cash inflow from operating activities was 153,953,651.11 RMB, while cash outflow was 158,327,321.31 RMB, indicating a challenging operational environment[66]. - The company’s cash and cash equivalents at the end of Q1 2020 stood at 741,313,009.53 RMB, up from 158,021,360.18 RMB in the same period last year[68]. - The net increase in cash and cash equivalents for Q1 2020 was 135,947,257.23 RMB, compared to 109,946,327.71 RMB in Q1 2019[68]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,663,730,715.41, a 0.38% increase compared to the end of the previous year[17]. - The company's total current assets amounted to CNY 2,005,457,932.51, slightly down from CNY 2,016,447,838.62 at the end of the previous year[37]. - Total liabilities decreased to ¥96,351,938.91 from ¥110,170,028.92, representing a decline of about 12.5%[42]. - Current liabilities decreased to ¥33,572,723.66 from ¥45,849,020.97, a reduction of approximately 26.8%[40]. - The company's total liabilities decreased to ¥135,726,235.66 in Q1 2020 from ¥144,569,212.12 in Q1 2019, a reduction of approximately 6%[52]. Research and Development - The company's R&D investment accounted for 8.15% of operating revenue, an increase of 4.87 percentage points year-on-year[17]. - R&D expenses increased to ¥12,032,804.80 in Q1 2020, up 10% from ¥10,994,295.50 in Q1 2019[52]. - Research and development expenses increased to approximately ¥12.03 million in Q1 2020, up 9.5% from ¥10.99 million in Q1 2019[57]. Shareholder Information - The total number of shareholders at the end of the reporting period was 14,129[23]. - The company's equity attributable to shareholders increased to ¥2,547,316,415.71 from ¥2,523,596,357.41, an increase of about 0.94%[42]. - Total equity increased to ¥2,575,226,816.78 in Q1 2020, compared to ¥2,551,670,668.33 in Q1 2019, reflecting a growth of about 1%[52]. Future Outlook and Strategic Initiatives - The company has resumed production since February 10, 2020, and is taking measures to mitigate the temporary adverse effects of the external economic environment[20]. - The company plans to continue increasing production and sales of ultra-thin copper foil and PCB copper foil to improve capacity utilization[20]. - The company has not reported any significant changes in its future outlook or strategic initiatives during the conference call[34].