延华智能(002178) - 2020 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2020 was ¥129,364,923.75, a decrease of 33.80% compared to the same period last year[8] - Total revenue decreased by 33.83% year-on-year, primarily due to the impact of COVID-19, which delayed project construction progress in the first quarter[13] - The net profit attributable to shareholders was -¥19,144,506.62, an improvement of 44.70% year-over-year[8] - The net loss for Q1 2020 was CNY 20,921,686.56, compared to a net profit in the previous period[40] - The total comprehensive income for Q1 2020 was -CNY 21,453,747.50, an improvement from -CNY 46,237,499.33 in the previous year[42] - The total profit for Q1 2020 was a loss of CNY 20,905,967.80, an improvement from a loss of CNY 44,384,266.59 in the previous year[42] Cash Flow - The net cash flow from operating activities was -68,646,093.95 CNY, compared to -117,782,265.29 CNY in the previous period, indicating an improvement of approximately 41.7%[49] - The cash inflow from operating activities was CNY 216,481,788.93, down from CNY 329,153,621.01 in the previous period[48] - The total cash inflow from operating activities was 188,562,861.63 CNY, down 36.8% from 298,501,896.94 CNY in the previous period[52] - The total cash outflow from operating activities was 243,903,578.89 CNY, a decrease of 32.9% compared to 363,711,101.65 CNY in the previous period[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,986,213,270.31, a decrease of 2.58% from the end of the previous year[8] - The company’s total assets decreased to CNY 1,718,388,590.18 from CNY 1,774,985,736.00[36] - Total liabilities decreased to CNY 966,431,412.44 from CNY 997,598,925.49[35] - Total liabilities amounted to CNY 997,598,925.49, with current liabilities totaling CNY 939,425,832.42[57] Inventory and Receivables - The company reported a 38.76% increase in accounts receivable due to payments received via notes from customers[16] - Inventory increased by 38.55% as a result of higher contract performance costs incurred by subsidiaries[16] - Accounts receivable decreased to CNY 210,980,945.12 from CNY 228,858,486.96[35] - Inventory significantly dropped to CNY 5,941,358.08 from CNY 376,392,882.60[35] Expenses - Operating costs decreased by 35.84% year-on-year, also attributed to the COVID-19 impact and the corresponding decline in project construction progress[14] - R&D expenses decreased by 46.49% year-on-year, mainly due to reduced capitalized R&D expenditures in the first quarter as a result of COVID-19[15] - The company reported a decrease in R&D expenses to CNY 10,079,893.42 from CNY 18,836,357.76[40] - The company incurred sales expenses of CNY 1,064,270.62, down from CNY 1,657,641.85 in the previous period[44] Financing Activities - Short-term borrowings rose by 49.92% due to increased bank financing during the reporting period[16] - The cash inflow from financing activities was 21,465,331.95 CNY, a decrease of approximately 13.5% compared to 24,710,123.47 CNY in the previous period[50] - The company’s cash flow from financing activities included 30,000,000.00 CNY from borrowings, an increase from 21,080,000.00 CNY in the previous period, reflecting a growth of approximately 42.5%[50] Other Financial Metrics - The weighted average return on net assets was -2.24%, an improvement of 1.96% compared to the previous year[8] - Credit impairment losses decreased by 86.12% year-on-year, as the previous year had significant bad debt provisions for other receivables from a subsidiary[17] - Deferred income tax liabilities decreased by 76.78% year-on-year, due to a reduction in temporary differences that formed deferred tax liabilities during the period[12] - Asset disposal gains increased by 104.24% year-on-year, as the previous year had recorded asset disposal losses[18] Reporting and Standards - The company has adopted new revenue recognition standards effective from January 1, 2020, which may impact future financial reporting[61] - The first quarter report was not audited, which may affect the reliability of the financial data presented[61]