NFC(SZ:000758)2020-04-29 16:00Financial Performance - The company's operating revenue for Q1 2020 was ¥1,358,559,027.42, a decrease of 49.28% compared to ¥2,678,356,811.17 in the same period last year[7]. - Net profit attributable to shareholders was ¥73,528,354.80, representing a 3.79% increase from ¥70,843,221.98 year-on-year[7]. - The net profit after deducting non-recurring gains and losses was ¥25,024,158.84, down 62.17% from ¥66,154,933.87 in the previous year[7]. - The net cash flow from operating activities was -¥381,592,526.42, a decline of 128.62% compared to -¥166,912,401.61 in the same period last year[7]. - The basic earnings per share for the reporting period was ¥0.0373, a 3.61% increase from ¥0.0360 year-on-year[7]. - Operating profit for Q1 2020 was CNY 150,245,738.47, a decrease of 15.2% compared to CNY 177,194,873.29 in Q1 2019[37]. - The total comprehensive income for Q1 2020 was CNY 96,654,508.14, compared to CNY 25,483,370.19 in Q1 2019, an increase of 279.5%[37]. - The company's total comprehensive income for the current period is negative CNY 19.95 million, compared to positive CNY 60.78 million in the previous period[39]. Assets and Liabilities - Total assets at the end of the reporting period were ¥25,078,355,391.32, a decrease of 1.55% from ¥25,473,356,455.04 at the end of the previous year[7]. - Current assets decreased to CNY 13,676,324,921.38 from CNY 14,181,500,145.89, representing a reduction of about 3.55%[29]. - Total liabilities decreased to CNY 16,302,956,442.38 from CNY 16,773,812,773.29, indicating a decrease of around 2.81%[31]. - The company's equity attributable to shareholders increased slightly to CNY 4,889,219,735.98 from CNY 4,856,580,520.23, an increase of about 0.67%[31]. - Total liabilities decreased to CNY 12,328,359,914.81 as of March 31, 2020, down from CNY 12,496,970,200.87 at the end of 2019, a reduction of 1.3%[35]. - Total assets decreased to CNY 14,847,035,726.72 as of March 31, 2020, down from CNY 15,035,591,486.86 at the end of 2019, a reduction of 1.2%[35]. Cash Flow - The total cash flow from operating activities is negative CNY 381.59 million, worsening from negative CNY 166.91 million in the previous period[41]. - Cash inflow from operating activities totaled 458,150,778.33 CNY, down 33.7% from 691,275,116.03 CNY in the prior period[43]. - Cash outflow from operating activities was 639,998,220.35 CNY, a decrease of 48.3% compared to 1,236,341,390.11 CNY last year[43]. - The company reported a cash inflow from financing activities of CNY 3.04 billion, an increase from CNY 1.76 billion in the previous period[41]. - Cash inflow from financing activities was 2,974,826,141.06 CNY, an increase of 71.9% from 1,730,967,690.41 CNY in the last period[43]. Expenses - Operating costs decreased by 50.41% to ¥1,113,660,564.45 from ¥2,245,946,896.65, primarily due to reduced revenue from the parent company and subsidiaries[14]. - Research and development expenses were ¥1,176,827.17, down 42.07% from ¥2,031,412.22, attributed to decreased R&D investment by the subsidiary[14]. - The company reported a decrease in sales expenses to CNY 32,623,684.82 in Q1 2020, down 50.0% from CNY 65,063,520.22 in Q1 2019[37]. - The company incurred financial expenses of CNY 33.08 million, compared to a financial income of CNY 51.44 million in the previous period[39]. Investments and Other Income - The company reported non-operating income of ¥66,969,567.59 mainly from the disposal of non-current assets by its subsidiary[7]. - The company reported a significant increase in other income, which rose by 4,746.94% to ¥3,878,476.58 from ¥80,019.00, primarily due to increased government subsidies[14]. - Investment income decreased by 61.54% to ¥2,939,188.52 from ¥7,642,071.55, mainly due to reduced investment income from joint ventures[14]. - The company’s investment income decreased to CNY 2.43 million from CNY 33.24 million in the previous period[39]. Impairment and Financial Analysis - The company recorded a credit impairment loss of ¥14,877,656.93 during the period[14]. - The financial expenses increased by 177.54% to -¥23,830,007.65 from -¥8,586,275.64, mainly due to increased exchange gains[14]. - The company faced a 52.55% decrease in asset impairment losses, which amounted to ¥11,247,679.35 compared to ¥23,704,323.97 in the previous year[14]. Miscellaneous - The company has not yet audited the first quarter report for 2020, indicating it is unaudited[57]. - The chairman of the board, Qin Junman, approved the report submission date on April 28, 2020[58]. - The company is implementing new revenue and lease standards starting in 2020, with no retrospective adjustments to prior data[57].