ERDOS(SH:900936)2020-04-29 16:00Financial Performance - Operating revenue for the current period was CNY 4.37 billion, a decrease of 18.58% year-on-year[7] - Net profit attributable to shareholders was CNY 115 million, down 39.39% from the previous year[7] - Basic earnings per share decreased by 55.56% to CNY 0.08[7] - The weighted average return on net assets fell to 0.89%, a decrease of 1.04 percentage points[7] - The company reported a significant decrease in tax and additional charges by 38.61% to ¥84,480,224.89 from ¥137,619,831.46, attributed to lower sales revenue[8] - The company reported a net profit margin decline due to reduced revenue and increased costs, reflecting market challenges[28] - The company is focusing on cost control and efficiency improvements to navigate the current market environment[28] Cash Flow - Cash flow from operating activities was CNY 44.93 million, a significant decline of 86.81% compared to the same period last year[7] - The net cash flow from operating activities decreased by 86.81% to ¥44,925,193.32 from ¥340,514,073.25, largely due to reduced sales revenue caused by the pandemic[4] - The net cash flow from financing activities dropped by 454.16% to -¥813,730,826.18 from ¥229,760,575.26, primarily due to repayments to the parent company[5] - The cash inflow from borrowing in Q1 2020 was ¥6,287,322,553.35, compared to ¥8,977,245,742.76 in Q1 2019, showing a decrease of about 30.5%[34] - The net increase in cash and cash equivalents for Q1 2020 was -¥790,964,601.23, contrasting with an increase of ¥611,555,256.59 in Q1 2019, highlighting a significant shift in cash flow dynamics[35] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 49.53 billion, an increase of 0.81% compared to the end of the previous year[7] - Total liabilities reached CNY 31.87 billion, with current liabilities at CNY 23.83 billion and non-current liabilities at CNY 8.04 billion[41] - The company's total equity was CNY 10,186,392,414.20, a decrease from CNY 10,247,038,746.23 at the end of 2019[27] - The company has a short-term loan liability of CNY 12.21 billion, which represents a significant portion of current liabilities[41] - Total assets amounted to approximately CNY 19.97 billion, with non-current assets at CNY 14.79 billion[44] Shareholder Information - The total number of shareholders reached 58,821 at the end of the reporting period[9] - The largest shareholder, Inner Mongolia Ordos Cashmere Group Co., Ltd., holds 54.30% of the shares[10] - Shareholders' equity totaled CNY 17.26 billion, with CNY 12.84 billion attributable to the parent company[41] Research and Development - Research and development expenses decreased by 31.48% to ¥9,086,914.94 from ¥13,261,225.13, as some projects were not implemented due to the pandemic[7] - Research and development expenses for Q1 2020 were CNY 9,086,914.94, down 31.7% from CNY 13,261,225.13 in Q1 2019[30] Other Financial Metrics - The company reported non-recurring gains and losses totaling CNY 18.23 million for the period[9] - Other income increased by 241.24% to ¥38,308,980.08 from ¥11,226,321.29, mainly due to increased government subsidies[6] - The company did not report any significant changes in expected cumulative net profit compared to the previous year[10] - The company adopted new revenue and leasing standards effective January 1, 2020, impacting the financial statements[46]