SSSW(SH:688399)2020-04-23 16:00Financial Performance - Operating revenue surged by 276.21% to CNY 200,370,470.59 year-on-year[5] - Net profit attributable to shareholders increased by 670.91% to CNY 103,590,955.13 compared to the same period last year[5] - Basic earnings per share reached CNY 1.77, up 470.97% from CNY 0.31 in the previous year[5] - The total profit for Q1 2020 was ¥121,762,260.48, a 672.22% increase from ¥15,767,773.74 in Q1 2019, driven by the surge in COVID-19 reagent sales[15] - Net profit for Q1 2020 reached ¥103,590,955.13, a significant increase of 670.91% compared to ¥13,437,489.22 in Q1 2019[16] - Total operating revenue for Q1 2020 reached RMB 200,370,470.59, a significant increase of 275.5% compared to RMB 53,260,054.29 in Q1 2019[28] Assets and Liabilities - Total assets increased by 14.28% to CNY 1,319,233,644.95 compared to the end of the previous year[5] - Total liabilities rose by 45.88% to ¥194,853,220.95 from ¥133,572,994.95, mainly due to changes in current liabilities[14] - The total assets as of March 31, 2020, were ¥1,319,233,644.95, compared to ¥1,154,362,463.82 at the end of 2019[20] - The company's total liabilities increased to ¥194,853,220.95 from ¥133,572,994.95 in the previous year[22] - Total current assets as of March 31, 2020, amounted to RMB 1,010,852,686.85, an increase from RMB 875,555,345.95 as of March 31, 2019[24] Cash Flow - The net cash flow from operating activities was CNY 85,282,505.75, a significant improvement from a negative cash flow of CNY -1,540,234.54 in the previous year[5] - Cash received from sales and services amounted to ¥179,837,552.93, marking a 261.04% increase from ¥49,810,364.74 in Q1 2019, primarily due to increased sales of COVID-19 testing reagents[16] - The cash flow from operating activities showed a net increase, contributing to the rise in cash and cash equivalents[16] - The net cash flow from operating activities was ¥83,872,193.40, compared to a negative cash flow of ¥1,146,514.18 in the same period last year[35] Research and Development - Research and development expenses accounted for 5.87% of operating revenue, a decrease of 50.85 percentage points compared to the previous year[5] - Research and development expenses grew by 85.18% to ¥11,785,699.91 from ¥6,364,423.30, reflecting increased investment in R&D[15] - Research and development expenses for Q1 2020 were RMB 11,785,699.91, compared to RMB 6,364,423.30 in Q1 2019, indicating an increase of 84.5%[28] Shareholder Information - The total number of shareholders reached 6,305 by the end of the reporting period[11] - The top shareholder, Shaoxing RunKang Biomedical Investment Partnership, holds 26.61% of the shares[11] Market Conditions - The company is currently facing uncertainties regarding the sales of non-COVID-19 products due to the pandemic, making it difficult to predict specific growth rates for net profit[17] - The company anticipates a significant increase in cumulative net profit for the first half of 2020 compared to the same period in 2019, driven by the surge in COVID-19 testing reagent sales[17] Investment Activities - Investment activities resulted in a net cash outflow of -¥109,136,018.41 in Q1 2020, compared to -¥16,743,633.15 in Q1 2019, indicating significant investment activities[33] - The company reported total cash inflow from investment activities of ¥186,141,118.32, a substantial increase from ¥690,593.68 in Q1 2019[35] Changes in Accounting Standards - The company has adopted new revenue and lease standards starting from 2020, which may impact future financial reporting[36] - The company implemented the revised Accounting Standards for Revenue from January 1, 2020, which is not expected to significantly impact revenue recognition or net profit[45]