龙星化工(002442) - 2020 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2020 was ¥471,393,619.53, representing a decrease of 31.74% compared to ¥690,581,947.27 in the same period last year[8]. - Net profit attributable to shareholders was ¥1,252,739.32, down 21.01% from ¥1,585,978.49 year-on-year[8]. - The company's total revenue decreased by 31.74% to ¥471,393,619.53 compared to the previous period, primarily due to reduced sales volume and pricing impacts from the pandemic[17]. - Net profit for Q1 2020 was CNY 1,252,739.32, compared to CNY 1,585,978.49 in the same period last year, representing a decline of approximately 21%[40]. - The total comprehensive income for the first quarter of 2020 was -2,934,277.53 CNY, compared to 7,074,265.18 CNY in the same period last year[45]. Cash Flow - The net cash flow from operating activities was negative at -¥83,385,391.75, a decline of 194.11% compared to ¥88,601,105.13 in the same period last year[8]. - The net cash flow from operating activities turned negative at -¥83,385,391.75, a decrease of 194.11% compared to the previous year, largely due to pandemic-related impacts[17]. - Cash inflow from operating activities was 562,051,605.50 CNY, down from 853,781,722.60 CNY year-on-year, representing a decrease of approximately 34%[47]. - Cash outflow from operating activities totaled 645,436,997.25 CNY, compared to 765,180,617.47 CNY in the previous year, indicating a reduction of about 15.7%[48]. - The cash flow from investment activities was -12,836,961.70 CNY, an improvement from -30,145,244.53 CNY in the previous year, indicating a reduction in cash outflow[48]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,518,637,018.53, a decrease of 5.40% from ¥2,662,487,831.67 at the end of the previous year[8]. - Total current assets decreased from CNY 1,426,682,767.23 on December 31, 2019, to CNY 1,310,514,898.98 on March 31, 2020, representing a decline of approximately 8.1%[30]. - Total liabilities decreased from CNY 1,425,274,367.42 to CNY 1,280,174,440.11, a reduction of about 10.2%[32]. - The company's total liabilities decreased to CNY 881,489,763.00 from CNY 935,259,665.84[39]. - The company's long-term borrowings decreased from CNY 37,444,343.06 to CNY 18,936,764.34, a significant reduction of about 49.5%[32]. Shareholder Information - The company reported a total of 28,840 common shareholders at the end of the reporting period[11]. - Liu Jiangshan was the largest shareholder, holding 20.40% of the shares, equivalent to 97,897,902 shares[11]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[12]. Income and Expenses - Operating costs fell by 34.94% to ¥401,946,877.28, mainly due to inventory write-backs[17]. - Other income increased by 119.31% to ¥2,479,441.23, attributed to VAT refunds related to resource utilization[17]. - The company reported a significant increase in income tax expenses by 1755.95% to ¥1,572,281.52, due to adjustments from high-tech qualifications in the previous period[17]. - Research and development expenses for Q1 2020 were CNY 3,605,326.93, compared to CNY 3,890,551.92 in the previous period[39]. - The company reported a decrease in financial expenses to CNY 11,817,466.32 from CNY 12,866,057.60 year-on-year[39]. Changes in Accounting Standards - The company has implemented new revenue and lease standards starting in 2020, with no retrospective adjustments made[59]. - Prepayments decreased by 98.65% to ¥234,373.15, as the company reclassified these amounts under contract liabilities following new revenue recognition standards[16].