SHANGGONG GROUP(SH:900924)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 92.62% to CNY 2,519,783.12 from CNY 34,133,771.60 in the same period last year[5] - Operating revenue fell by 21.87% to CNY 630,060,899.76 compared to CNY 806,402,508.96 in the previous year[5] - Operating profit decreased by 83.65% to ¥7,164,594.53 from ¥43,813,213.74[16] - The company reported a significant decline in net profit due to high tax rates and losses from subsidiaries affected by the pandemic[16] - Basic earnings per share dropped by 92.60% to CNY 0.0046 from CNY 0.0622 in the previous year[5] - Net profit for Q1 2020 was ¥1,066,486.41, a significant decline from ¥34,346,513.42 in Q1 2019, representing a decrease of 96.9%[30] - The company reported a total comprehensive loss of ¥13,324,928.72 for Q1 2020, compared to a comprehensive income of ¥2,201,415.59 in Q1 2019[31] Cash Flow - The net cash flow from operating activities improved to CNY 33,496,486.85 from a negative CNY 104,148,009.08 in the same period last year[5] - Net cash flow from operating activities improved by ¥137,644,495.93, reaching ¥33,496,486.85 compared to -¥104,148,009.08[17] - Cash flow from operating activities in Q1 2020 was 33,496,486.85 RMB, a recovery from a negative cash flow of -104,148,009.08 RMB in Q1 2019[35] - The net cash flow from operating activities was -CNY 33,609,448.78, an improvement from -CNY 161,926,418.79 in the same period last year[38] Assets and Liabilities - Total assets decreased by 1.71% to CNY 4,397,814,706.61 compared to the end of the previous year[5] - Total current assets decreased to ¥2,747,792,293.14 from ¥2,824,674,903.87[22] - Current liabilities totaled CNY 1,191,231,170.92, down from CNY 1,260,567,715.37, indicating a reduction of about 5.5%[23] - Non-current liabilities increased to CNY 634,086,158.97 from CNY 619,152,975.05, reflecting an increase of approximately 2.3%[23] - The company's total liabilities as of March 31, 2020, were CNY 1,825,317,329.89, down from CNY 1,879,720,690.42, reflecting a decrease of approximately 2.9%[23] - The total assets as of January 1, 2020, were CNY 4,474,294,619.36, unchanged from the previous year[41] - The total current liabilities were CNY 645,701,830.27, reflecting short-term obligations[45] Shareholder Information - The total number of shareholders was 52,590, with 26,910 A-share shareholders and 25,680 B-share shareholders[11] - Owner's equity as of March 31, 2020, was CNY 2,572,497,376.72, a decrease from CNY 2,594,573,928.94, showing a decline of about 0.8%[24] - The total equity attributable to shareholders was ¥1,510,282,954.33, slightly down from ¥1,521,450,488.39 at the end of 2019[30] Investment and Expenses - Investment income increased by 55.82% to ¥2,628,883.26 from ¥1,687,133.17[16] - Research and development expenses for Q1 2020 were ¥21,155,203.36, down 21.8% from ¥27,059,190.21 in Q1 2019[30] - The company incurred a financial expense of ¥5,363,320.94 in Q1 2020, down from ¥9,960,031.62 in Q1 2019[30] - The company reported an investment income of 4,870,405.56 RMB in Q1 2020, significantly higher than 1,687,133.17 RMB in Q1 2019, an increase of 189.1%[33] Changes in Financial Position - Fair value changes in financial assets resulted in a loss of ¥12,188,256.24 compared to a gain of ¥9,454,405.77[16] - The company adopted new revenue and lease standards starting in 2020, impacting the financial statements[39] - The company experienced a fair value loss of -12,188,256.24 RMB in Q1 2020, contrasting with a gain of 9,454,405.77 RMB in Q1 2019, indicating a negative shift in asset valuations[33]