OTIC(SZ:000962)2020-04-29 16:00Financial Performance - The company's operating revenue for Q1 2020 was ¥96,233,962.82, a decrease of 44.44% compared to ¥173,195,020.47 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥5,255,252.27, representing a decline of 274.85% from a profit of ¥3,005,660.87 in the previous year[8] - Basic and diluted earnings per share were both -¥0.0119, a decrease of 275.00% from ¥0.0068 in the same period last year[8] - The net loss for Q1 2020 was ¥5,298,751.42, compared to a net profit of ¥3,161,733.05 in Q1 2019[36] - The company's operating profit for Q1 2020 was -5,149,961.65 CNY, a decrease from the operating profit of 2,269,999.03 CNY in Q1 2019[40] - The total comprehensive income for Q1 2020 was -5,177,975.60 CNY, compared to 2,847,909.90 CNY in Q1 2019[37] Cash Flow - The net cash flow from operating activities decreased by 74.51%, amounting to ¥20,239,298.33 compared to ¥79,397,349.26 in the prior year[8] - The net cash flow from operating activities decreased to ¥22,527,916.74 from ¥93,872,359.13, representing a decline of approximately 76% year-over-year[46] - Cash inflows from operating activities totaled ¥123,399,989.30, down 34.6% compared to ¥188,869,698.75 in the previous period[46] - Cash outflows from operating activities increased to ¥100,872,072.56, up 6.9% from ¥94,997,339.62[46] - The company reported a net cash outflow from financing activities of -62,452,961.81 CNY in Q1 2020, compared to -129,814,749.99 CNY in Q1 2019[45] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,550,074,822.14, down 5.78% from ¥1,645,241,166.13 at the end of the previous year[8] - The company's total liabilities decreased to ¥381,840,385.76 in Q1 2020 from ¥471,780,908.28 at the end of 2019, a reduction of 19.1%[30] - The total assets decreased to CNY 1,550,074,822.14 from CNY 1,645,241,166.13, indicating a reduction in overall asset base[28] - The company's equity attributable to shareholders was ¥1,168,234,016.39, reflecting stability in ownership equity[51] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,994[10] - The largest shareholder, China Northern Rare Earth Group, held 45.80% of the shares, amounting to 201,916,800 shares, with 20,000,000 shares pledged[10] - There were no significant changes in the shareholder structure or any repurchase transactions during the reporting period[11] Government Subsidies and Expenses - The company received government subsidies amounting to ¥3,184,250.99 during the reporting period[9] - The company incurred total sales expenses of 1,109,952.93 CNY in Q1 2020, a decrease of 40.0% compared to 1,848,430.85 CNY in Q1 2019[40] - Research and development expenses for Q1 2020 were ¥295,150.33, indicating ongoing investment in innovation[36] Accounting Changes - The company has implemented new accounting standards for revenue and leasing, affecting the presentation of contract liabilities[52] - The company has implemented a new accounting policy for revenue recognition starting January 1, 2020, adjusting the presentation of advance receipts to contract liabilities[55] - The first quarter report for 2020 has not been audited[56]