西王食品(000639) - 2020 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2020 was ¥1,207,630,520.71, a decrease of 12.68% compared to ¥1,382,926,225.89 in the same period last year[8] - The net profit attributable to shareholders was ¥77,581,974.51, down 15.44% from ¥91,743,304.15 in the previous year[8] - Basic earnings per share decreased by 22.22% to ¥0.07 from ¥0.09 in the previous year[8] - The company's operating revenue for the reporting period was CNY 1,207,630,520.71, a decrease of 12.68% compared to CNY 1,382,926,225.89 in the same period last year, primarily due to reduced sales of bulk oil and sports nutrition products impacted by the pandemic[15] - Net profit for Q1 2020 was CNY 80,672,731.68, a decline of 22.6% from CNY 104,208,835.07 in Q1 2019[37] - The company's net profit attributable to shareholders increased to CNY 643,605,983.47 from CNY 566,024,008.96, showing a growth in retained earnings despite the revenue decline[29] Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥20,616,842.68, a decline of 231.94% compared to a positive cash flow of ¥15,625,944.07 in the same period last year[8] - The cash flow from operating activities showed a significant decline, with a net cash outflow of CNY 20,616,842.68 compared to a positive cash inflow of CNY 15,625,944.07 in the same period last year, reflecting increased raw material purchases[15] - The company's cash and cash equivalents decreased from CNY 2,302,822,092.15 at the beginning of the period to CNY 2,168,480,318.18, indicating a reduction in liquidity[26] - Cash and cash equivalents at the end of the period decreased to ¥708,480,318.18 from ¥947,770,670.39, a decline of approximately 25.2%[45] - The company received cash from operating activities amounting to ¥1,319,648,518.30, slightly down from ¥1,398,166,310.94 in the previous period[43] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,079,984,501.41, a decrease of 0.74% from ¥8,140,129,890.14 at the end of the previous year[8] - The total assets decreased from CNY 8,140,129,890.14 at the beginning of the period to CNY 8,079,984,501.41, reflecting a slight contraction in the asset base[27] - The total liabilities decreased from CNY 4,039,450,097.99 to CNY 3,812,731,219.94, indicating a reduction in the company's debt levels[28] - The total liabilities as of January 1, 2020, were CNY 4,039,450,097.99, with current liabilities amounting to CNY 2,427,082,325.95[51] Shareholder Information - The top shareholder, Xiwang Group Co., Ltd., holds 29.70% of the shares, while the second-largest shareholder, Shandong Yonghua Investment Co., Ltd., holds 22.62%[11] - The total number of ordinary shareholders at the end of the reporting period was 34,526[11] - The total equity attributable to shareholders was CNY 1,654,886,783.80 as of March 31, 2020, down from CNY 1,659,029,566.84 at the end of 2019[33] Expenses - The company's sales expenses decreased by 19.69% to CNY 246,040,002.23 from CNY 306,366,502.46, attributed to reduced marketing activities due to the pandemic[15] - Research and development expenses for Q1 2020 were CNY 13,847,907.83, an increase from CNY 10,412,612.11 in the same period last year[36] - Management expenses increased to ¥3,238,899.25 from ¥2,661,031.54, reflecting a rise of approximately 21.6%[40] - Financial expenses showed a significant change, with interest expenses rising to ¥5,319,116.67 from ¥2,392,499.99, an increase of about 121.1%[40] Tax and Other Comprehensive Income - The company reported a significant reduction in tax payable, decreasing by 75.21% from CNY 38,317,331.68 to CNY 9,498,323.01, primarily due to tax payments made during the reporting period[15] - The company’s other comprehensive income after tax for Q1 2020 was CNY 85,900,757.64, compared to a loss of CNY 29,454,249.19 in Q1 2019[37] Audit and Standards - The first quarter report for 2020 was not audited[54] - The company has implemented new revenue and lease standards starting January 1, 2020, affecting the financial statements[54]