SPEG(SH:900916)2020-04-28 16:00Financial Performance - Operating revenue for the period was CNY 215,227,904.08, down 17.46% year-on-year[6] - Net profit attributable to shareholders of the listed company was CNY -75,429.68, a decline of 101.47% compared to the same period last year[6] - The weighted average return on net assets was -0.0055%, a decrease of 101.43 percentage points compared to the previous year[6] - Basic earnings per share were CNY -0.0002, down 101.56% from CNY 0.0128 in the same period last year[6] - The company reported a total comprehensive loss of ¥14,339,039.67 for Q1 2020, contrasting with a total comprehensive income of ¥20,585,452.03 in Q1 2019[22] - The net profit for Q1 2020 was a loss of ¥4,536,040.94, compared to a loss of ¥1,434,948.52 in Q1 2019, indicating a significant decline in profitability[24] - The company reported a significant loss in investment income of -¥976,267.83 in Q1 2020, compared to a gain of ¥1,658,839.67 in Q1 2019, highlighting challenges in investment performance[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,834,201,274.47, a decrease of 0.20% compared to the end of the previous year[6] - Total liabilities as of March 31, 2020, were ¥214,394,256.56, compared to ¥174,107,212.51 at the end of 2019, reflecting a rise of 23.1%[19] - The total equity attributable to shareholders was ¥1,213,885,119.13, down from ¥1,233,517,522.36 at the end of 2019[19] - Current assets totaled CNY 707,534,967.05, with cash and cash equivalents at CNY 215,383,907.14[29] - Total liabilities reached CNY 379,023,667.32, with current liabilities at CNY 331,388,078.99[30] Cash Flow - The net cash flow from operating activities was CNY -31,264,996.54, a decrease of 599.40% year-on-year[6] - Operating cash flow net amount decreased by 599.40% to -¥31,264,996.54, mainly due to reduced cash received from sales[11] - The net cash flow from operating activities for Q1 2020 was -¥31,264,996.54, a sharp decline from a positive cash flow of ¥6,260,502.72 in Q1 2019[25] - The company received cash from sales of goods and services amounting to ¥201,991,896.99 in Q1 2020, down from ¥288,823,212.97 in Q1 2019, reflecting a decline in sales[25] Shareholder Information - The top ten shareholders held a total of 29.18% of shares, with the largest shareholder being Shanghai Jinshan District State-owned Assets Supervision and Administration Commission[9] - Jiangsu Meile Investment Co., Ltd. held 9.78% of shares, with all shares pledged[9] Investment and Expenses - Trading financial assets increased by 60.74% to ¥77,499,358.69 due to the purchase of structured deposits[10] - Accounts receivable financing rose by 53.90% to ¥25,877,397.15, primarily from increased bill settlements[10] - Inventory increased by 40.53% to ¥94,066,077.17, mainly due to a rise in finished bicycle products[10] - Tax expenses rose by 90.43% to ¥643,587.18, attributed to higher bicycle sales compared to the same period last year[10] - Research and development expenses for Q1 2020 were ¥1,266,657.83, a decrease from ¥1,492,891.01 in Q1 2019[21] - Financial expenses improved by 155.07% to -¥1,600,325.67, primarily due to exchange rate fluctuations[10] Major Transactions and Restructuring - The company plans to acquire 100% of Tianjin Aisike Bicycle Co., Ltd. and 100% of Tianjin Tianren Bicycle Material Co., Ltd. through cash payments and share issuance[11] - The company is in the process of a major asset restructuring, with related audits and evaluations ongoing as of March 30, 2020[12]