YONGTAI TECH.(SZ:002326)2020-04-28 16:00Financial Performance - The company's operating revenue for Q1 2020 was ¥507,591,429.39, a decrease of 31.19% compared to ¥737,707,368.38 in the same period last year[9]. - The net profit attributable to shareholders was ¥59,196,933.52, down 47.16% from ¥112,030,352.36 year-on-year[9]. - The net profit after deducting non-recurring gains and losses was -¥10,874,116.96, a decline of 124.50% compared to ¥44,385,672.61 in the previous year[9]. - Basic earnings per share were ¥0.067, down 51.09% from ¥0.137 year-on-year[9]. - Operating profit for the current period was ¥92,432,042.34, down 35.2% from ¥142,536,742.03 in the previous period[59]. - Net profit for the current period was ¥55,668,874.86, a decline of 48.9% compared to ¥109,220,649.41 in the previous period[63]. - The company's operating revenue for the current period is ¥134,699,801.31, a decrease of 56.0% compared to ¥305,196,380.89 in the previous period[66]. - Operating profit for the current period is ¥50,229,252.89, down 62.4% from ¥133,588,516.24 in the previous period[66]. - Net profit for the current period is ¥33,427,561.29, a decline of 70.6% compared to ¥113,607,486.04 in the previous period[66]. Cash Flow - The net cash flow from operating activities was ¥21,001,861.33, a decrease of 32.89% from ¥31,294,478.62 in the same period last year[9]. - The total cash inflow from operating activities is ¥673,284,433.59, down 18.7% from ¥828,396,757.41 in the previous period[73]. - The net cash flow from operating activities was -69,906,027.72 CNY, an improvement from -133,690,907.11 CNY in the previous period, indicating a 47.7% reduction in cash outflow[77]. - Total cash inflow from operating activities was 283,102,173.50 CNY, slightly up from 280,776,120.98 CNY in the previous period[77]. - The company reported a net cash outflow from investing activities of ¥88,563,614.26, compared to a larger outflow of ¥142,816,043.04 in the previous period[73]. - Cash flow from financing activities resulted in a net outflow of -28,198,926.59 CNY, a decrease from a net inflow of 24,254,503.62 CNY in the previous period[80]. Assets and Liabilities - Total assets at the end of the reporting period were ¥6,756,527,876.03, a decrease of 1.60% from ¥6,866,369,855.46 at the end of the previous year[9]. - Total liabilities decreased from ¥3,505,153,752.04 to ¥3,329,882,990.33, a decline of approximately 5%[46]. - Current liabilities decreased from ¥3,004,177,475.64 to ¥2,704,322,950.46, a reduction of approximately 10%[46]. - Long-term borrowings increased from ¥233,531,347.22 to ¥353,649,180.55, an increase of about 51.4%[46]. - Total liabilities decreased to ¥2,304,197,449.29 from ¥2,477,741,287.68, a reduction of 7.0%[56]. - The company reported a total liability of 3,004,177,475.64 CNY in current liabilities, indicating a stable financial position[83]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 97,527, with the largest shareholder holding 18.33% of the shares[13]. - The net assets attributable to shareholders increased by 1.89% to ¥3,256,714,784.35 from ¥3,196,175,834.72 at the end of the previous year[9]. - Owner's equity increased from ¥3,361,216,103.42 to ¥3,426,644,885.70, an increase of about 1.9%[49]. - The company’s total equity attributable to shareholders was ¥3,140,540,451.92, with retained earnings of ¥1,183,840,830.12[93]. Operational Challenges - The company's operating revenue decreased by 31.19% year-on-year due to the impact of the COVID-19 pandemic, resulting in delayed production and order fulfillment[25]. - The net cash flow from operating activities decreased by 32.89% year-on-year, primarily due to delayed production resumption and reduced sales revenue[25]. - The company aims to mitigate the negative impact of the first quarter's performance decline on the annual results by ramping up production to meet stable customer demand in essential sectors[25]. - Accounts receivable financing decreased by 38.85% compared to the end of the previous period, attributed to a reduction in bill settlements during the reporting period[24]. - Prepayments increased by 87.31% compared to the end of the previous period, due to an increase in advance payments for raw material purchases[24]. - Other receivables grew by 194.64% compared to the end of the previous period, mainly due to increased personal advances and the acquisition of office properties by subsidiaries[24]. Other Financial Metrics - Research and development expenses were ¥14,725,856.35, down 19.9% from ¥18,175,025.09 in the previous period[59]. - Other income increased to ¥7,293,607.39 from ¥3,594,802.84, representing a growth of 102.5%[59]. - The company reported a credit impairment loss of ¥22,854,028.83, with no comparable figure in the previous period[59]. - Cash and cash equivalents decreased from ¥430,868,436.26 to ¥192,775,131.03, a decline of approximately 55.3%[50]. - Cash and cash equivalents at the end of the period were 128,052,850.95 CNY, down from 130,917,405.27 CNY in the previous period[80].