新乳业(002946) - 2020 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2020 was ¥1,055,155,140.90, a decrease of 13.66% compared to ¥1,222,051,044.53 in the same period last year[8] - The net profit attributable to shareholders was -¥26,442,445.89, representing a decline of 216.79% from ¥22,641,053.11 in the previous year[8] - The net cash flow from operating activities was -¥159,644,093.35, a significant drop of 450.38% compared to ¥45,562,519.53 in the same period last year[8] - The basic earnings per share were -¥0.03, down 200.00% from ¥0.03 in the previous year[8] - The company's net profit attributable to shareholders decreased by RMB 49.08 million, a decline of 216.79%, largely due to investment losses from its associate company, Chongqing Tianyou, impacted by the pandemic[19][20] - Operating cash flow net amount decreased by RMB 205.21 million, a decline of 450.38%, mainly due to reduced sales revenue during the pandemic[22] - The company reported a net loss in other comprehensive income of CNY -319,897,860.67 compared to CNY -88,021,085.86 in the previous period[45] - The company reported a total comprehensive loss of CNY 34,415,275.02 for the current period, compared to a loss of CNY 16,838,336.12 in the previous period[66] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,319,572,886.18, a decrease of 0.83% from ¥5,364,086,115.97 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 13.12% to ¥1,710,587,005.88 from ¥1,968,906,226.58 at the end of the previous year[8] - The company's total liabilities rose to CNY 3,521,773,770.83 from CNY 3,307,727,860.06, indicating an increase of around 6.5%[42] - The company's short-term borrowings increased significantly to CNY 1,809,511,003.26 from CNY 1,363,151,184.07, representing a growth of approximately 32.7%[42] - The total equity attributable to shareholders decreased to CNY 1,710,587,005.88 from CNY 1,968,906,226.58, a decline of about 13.1%[45] - The total non-current assets decreased to CNY 3,857,951,031.43 from CNY 4,064,850,296.38, a decline of approximately 5.1%[39] - Total liabilities amounted to approximately ¥3.31 billion as of January 1, 2020, unchanged from December 31, 2019[87] - Total equity attributable to shareholders was approximately ¥1.97 billion as of January 1, 2020, consistent with the previous period[87] Shareholder Information - The top shareholder, Universal Dairy Limited, holds 65.60% of the shares, amounting to 560,000,000 shares[11] - The total number of ordinary shareholders at the end of the reporting period was 25,809[11] Cash Flow and Financing Activities - The company reported a net cash inflow from financing activities of RMB 331.91 million, an increase of 136.20%, due to increased borrowings from financial institutions and public stock issuance[23] - The company raised CNY 505,008,656.91 from financing activities, compared to CNY 582,782,783.08 in the previous period, indicating a decrease of approximately 13.3%[73] - The net cash flow from financing activities was 126,721,012.86 yuan, compared to 147,641,983.48 yuan in the previous period, showing a decline in cash inflow from financing[77] - The company received 218,000,000.00 yuan from borrowings, an increase from 150,000,000.00 yuan in the previous period, indicating a higher reliance on debt financing[77] Inventory and Operating Costs - Inventory rose by RMB 116.99 million, a 35.62% increase, primarily due to delayed school openings caused by the COVID-19 pandemic, resulting in higher finished product stock[18] - Total operating costs for Q1 2020 were CNY 1,059,997,772.94, down from CNY 1,196,817,570.48 in Q4 2019, reflecting a reduction of 11.5%[56] Changes in Accounting and Reporting - The company reclassified "prepayments" to "contract liabilities" as part of the new revenue recognition standards, resulting in a decrease in prepayments and an increase in contract liabilities[18] - The company has implemented new revenue recognition standards starting January 1, 2020, affecting the classification of contract liabilities[90] Research and Development - Research and development expenses for Q1 2020 were CNY 7,671,404.19, compared to CNY 6,996,190.27 in Q4 2019, reflecting an increase of 9.7%[56] - Research and development expenses increased to CNY 2,175,964.37 from CNY 1,120,188.49, reflecting a growth of approximately 94.3% year-over-year[63] General Information - The company did not engage in any repurchase transactions during the reporting period[15] - The first quarter report for 2020 was not audited[98]