TQCC(SZ:002523)2020-04-29 16:00Financial Performance - Revenue for Q1 2020 was ¥92,609,695.61, a decrease of 58.58% compared to ¥223,588,152.48 in the same period last year[8] - Net profit attributable to shareholders was -¥5,696,661.91, representing a decline of 134.94% from ¥16,305,393.83 year-on-year[8] - Basic and diluted earnings per share were both -¥0.004, down 133.33% from ¥0.012 in the same period last year[8] - The net profit for Q1 2020 was a loss of CNY 7,452,643.07, compared to a profit of CNY 14,889,393.51 in Q1 2019, indicating a significant decline[39] Cash Flow - Net cash flow from operating activities was -¥95,701,202.33, a decrease of 405.36% compared to -¥18,937,257.66 in the previous year[8] - The net cash flow from operating activities was -95,701,202.33 CNY, a significant decline compared to -18,937,257.66 CNY in the previous period, indicating a worsening operational cash flow situation[44] - Cash inflow from operating activities totaled 289,571,691.42 CNY, down 45.6% from 532,367,314.85 CNY in the prior period[43] - Cash outflow from operating activities was 385,272,893.75 CNY, a decrease of 30.1% compared to 551,304,572.51 CNY in the previous period[44] - The net cash flow from investment activities was 18,228,837.49 CNY, a recovery from -45,393,474.05 CNY in the prior period, showing improved investment performance[44] - Cash inflow from investment activities was 194,759,233.18 CNY, down 39.7% from 322,971,485.48 CNY in the previous period[44] - Cash outflow from investment activities decreased to 176,530,395.69 CNY from 368,364,959.53 CNY, a reduction of 52.1%[44] - The net cash flow from financing activities was 32,334,600.38 CNY, down 62.9% from 87,093,770.65 CNY in the previous period[45] - Total cash and cash equivalents at the end of the period were 164,436,123.14 CNY, down from 228,838,243.22 CNY in the previous period, reflecting a decrease of 28.1%[45] - The company reported a cash inflow of 105,770,000.00 CNY from financing activities, a decrease of 38.7% compared to 172,690,000.00 CNY in the prior period[45] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,598,506,640.70, a decrease of 1.06% from ¥3,636,886,662.67 at the end of the previous year[8] - Current liabilities decreased from CNY 1,375,311,270.84 to CNY 1,349,449,985.03, a reduction of about 1.89%[31] - Total liabilities decreased from CNY 1,409,283,525.22 to CNY 1,384,093,863.87, a decline of about 1.79%[31] - Owner's equity decreased from CNY 2,227,603,137.45 to CNY 2,214,412,776.83, a decrease of approximately 0.59%[32] - The company's total liabilities amounted to CNY 591,806,792.90, a decrease from CNY 663,832,425.48 year-over-year[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,878[12] - The largest shareholder, Zhuzhou State-owned Assets Investment Holding Group Co., Ltd., held 24.08% of the shares[12] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[13] - The company completed the transfer of shares to CRRC Industrial Investment Co., Ltd., making it the second-largest shareholder with a 5% stake[18] Operational Impact - The company's operating revenue for the current period was ¥92,609,695.61, a decrease of ¥130,978,456.87 or 58.58% compared to the same period last year, primarily due to the impact of the COVID-19 pandemic on production[16] - The company's operating costs decreased to ¥69,965,669.66, down by ¥100,433,821.47 or 58.94%, reflecting lower revenue and reduced costs[16] - The company reported a significant increase in credit impairment losses of CNY 4,079,451.30, compared to no losses in the same period last year[38] Other Financial Metrics - The company reported non-recurring gains and losses totaling ¥1,520,121.53 for the reporting period[10] - The company’s financial expenses decreased by 49.54% to ¥2,214,716.58, mainly due to lower interest expenses compared to the same period last year[16] - The company recorded a fair value change gain of ¥2,489,260.27, a significant increase of 404.53% compared to the previous year[16] - Research and development expenses for Q1 2020 were CNY 8,308,555.53, down from CNY 10,927,496.95 in the previous year, reflecting a 24.0% decrease[38] - The company has not disclosed any new product developments or market expansion strategies in the current report[40]