Eastcompeace(SZ:002017)2020-04-24 16:00Financial Performance - The company's operating revenue for Q1 2020 was ¥180,848,970.97, a decrease of 28.65% compared to ¥253,459,087.41 in the same period last year[8]. - The net profit attributable to shareholders was ¥4,728,964.67, down 42.61% from ¥8,239,785.01 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥4,300,730.03, reflecting a decline of 52.81% compared to ¥9,113,507.13 in the previous year[8]. - Basic earnings per share decreased by 42.70% to ¥0.0106 from ¥0.0185 year-on-year[8]. - The company's net profit for the reporting period was positive, contributing to the company's commitment to distribute cash dividends, ensuring at least 30% of the average distributable profit over the next three years[24]. - The company's net profit for the current period is ¥5,454,249.78, compared to ¥9,252,968.10 in the previous period, representing a decrease of approximately 41.5%[49]. - The total comprehensive income for the current period is ¥5,454,249.78, down from ¥9,252,968.10, reflecting the overall decline in profitability[49]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥74,546,903.49, an improvement of 34.89% from -¥114,496,137.35 in the same period last year[8]. - The net cash flow from operating activities of the company was -¥74,546,903.49, an improvement from -¥114,496,137.35 in the previous period[52]. - The net increase in cash and cash equivalents decreased by 32.32 million yuan year-on-year, primarily due to the combined effects of the above three items[17]. - Cash and cash equivalents at the end of the period stand at ¥1,085,927,150.44, down from ¥911,417,371.61 in the previous period[53]. - The company received 20,000,000.00 CNY from financing activities, resulting in a net cash flow of 393,992,379.24 CNY from financing activities[56]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,158,665,119.67, an increase of 2.90% from ¥2,097,784,053.98 at the end of the previous year[8]. - The total liabilities of the company were CNY 757,619,287.73, up from CNY 698,409,314.86, which is an increase of approximately 8.5%[36][37]. - The company's total assets increased to CNY 2,138,226,068.87 from CNY 2,063,506,185.83 at the end of the previous quarter[40]. - The company's total equity amounted to 1,399,374,739.12 CNY as of January 1, 2020[59]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 68,814[11]. - The basic and diluted earnings per share are both ¥0.0122, down from ¥0.0207 in the previous period, indicating reduced shareholder returns[49]. Operational Metrics - The company's current assets totaled CNY 1,818,906,906.15, compared to CNY 1,750,086,327.35 at the end of 2019, indicating an increase of about 3.9%[34][36]. - Accounts receivable at the end of the reporting period amounted to 181.21 million yuan, an increase of 48.62% compared to the beginning of the year, primarily due to the seasonal collection characteristics of accounts receivable concentrated at year-end[16]. - Inventory levels increased to CNY 487,154,451.25 from CNY 423,972,346.97, representing a growth of about 14.9%[34]. - The company's retained earnings increased to CNY 360,010,621.85 from CNY 355,281,657.18, reflecting a growth of about 1.0%[37]. Expenses and Costs - Total operating costs for Q1 2020 were CNY 176,746,706.03, down from CNY 238,483,897.27 in the previous period[43]. - The company reported a decrease in research and development expenses to CNY 23,933,491.32 from CNY 25,293,751.87[43]. - The company experienced a significant increase in financial costs, with interest income of ¥4,634,246.85 compared to interest expenses of ¥355,780.64 in the previous period[47]. - The company experienced a 48.29% year-on-year decrease in business tax and additional fees, primarily due to a decline in operating revenue[16]. Accounting Changes - The company implemented new revenue and leasing standards starting January 1, 2020, adjusting the presentation of contract liabilities[61].