THVOW(SZ:002564)2020-04-28 16:00Financial Performance - The company's revenue for Q1 2020 was ¥1,011,298,093.56, a decrease of 53.89% compared to ¥2,193,031,863.97 in the same period last year[9] - The net profit attributable to shareholders was a loss of ¥191,681,475.04, representing a decline of 1,668.22% from a profit of ¥12,222,884.88 in the previous year[9] - Basic earnings per share were -¥0.2205, a decrease of 1,686.33% from ¥0.0139 in the previous year[9] - The company reported a net loss in the first quarter, with undistributed profits falling from ¥525 million to ¥334 million, a decrease of about 36.4%[36] - Net profit for Q1 2020 was a loss of ¥219,402,189.09, compared to a profit of ¥24,565,412.19 in Q1 2019, representing a significant decline[43] - The total equity decreased to ¥2,646,762,067.56 in Q1 2020 from ¥2,715,074,887.10 in the same period last year, reflecting a decline of 2.5%[42] Cash Flow and Liquidity - The net cash flow from operating activities was -¥1,040,082,725.74, which is an increase of 181.64% in cash outflow compared to -¥369,283,108.80 in the same period last year[9] - Cash and cash equivalents decreased by 48% to ¥1,315,191,246.34 due to reduced sales impacted by the pandemic[16] - Cash inflow from operating activities totaled 2,667,429,938.66 CNY, while cash outflow was 3,707,512,664.40 CNY, resulting in a net cash outflow of 1,040,082,725.74 CNY[49] - Cash and cash equivalents at the end of the period were 792,409,858.85 CNY, down from 1,909,885,776.08 CNY at the beginning of the period[51] - The net cash flow from investing activities was -8,904,668.06 CNY, an improvement from -53,909,700.37 CNY year-over-year[50] Assets and Liabilities - Total assets at the end of the reporting period were ¥31,204,596,866.53, down 1.95% from ¥31,826,113,029.86 at the end of the previous year[9] - The total current assets decreased to ¥24.76 billion from ¥25.37 billion, representing a decline of about 2.40%[33] - The total liabilities decreased from ¥27.33 billion to ¥26.92 billion, a decline of approximately 1.49%[35] - The company's long-term borrowings increased from ¥4.63 billion to ¥5.19 billion, an increase of about 11.87%[35] - The total assets of the company amounted to ¥9,291,210,512.08 in Q1 2020, slightly up from ¥9,255,477,356.86 in the previous year[42] Shareholder Information - The total number of common shareholders at the end of the reporting period was 50,263[12] - The largest shareholder, Shanghai Electric Group Co., Ltd., held 15.24% of the shares, amounting to 132,458,814 shares[12] - Chen Yuzhong, a natural person, held 15.10% of the shares, totaling 131,290,074 shares, with 130,000,000 shares pledged[12] Operational Performance - Operating revenue fell by 54% to ¥1,011,298,093.56 as project commencement was delayed due to the pandemic[16] - Operating costs decreased by 57% to ¥861,403,567.47, reflecting the same project delays[16] - The company reported a 76627% increase in credit impairment losses to ¥169,426,213.79 due to new standards and aging effects[16] - Research and development expenses for Q1 2020 were ¥23,104,968.31, an increase of 12% from ¥20,560,938.80 in the previous year[42] Financial Adjustments and Plans - The company plans to issue non-public A-shares to its controlling shareholder, Shanghai Electric, for up to ¥120,000.00 million[17] - The company has withdrawn its application for the non-public share issuance and plans to resubmit after adjustments[20] - The company’s financial expenses increased by 31% to ¥136,302,776.22 due to a higher scale of interest-bearing liabilities[16] - The company’s other payables increased by 53% to ¥465,063,164.54 primarily due to the collection of performance guarantees[16] Market Activity - The company did not engage in any securities investments or derivative investments during the reporting period[23][25] - The company did not report any new product launches or significant market expansion strategies during the quarter[56]