TKC(SZ:200512)2020-04-28 16:00Financial Performance - The company's operating revenue for Q1 2020 was ¥311,268,019.82, a decrease of 24.83% compared to ¥414,109,550.74 in the same period last year[9]. - The net profit attributable to shareholders was ¥8,577,244.43, down 75.01% from ¥34,325,162.34 year-on-year[9]. - Basic and diluted earnings per share were both ¥0.05, a decrease of 73.68% from ¥0.19 in the same period last year[9]. - The company reported a significant increase in net profit excluding non-recurring gains and losses, reaching ¥7,008,708.45, compared to a loss of ¥3,740,527.91 in the same period last year, representing a growth of 287.37%[9]. - The company reported a rise in undistributed profits from CNY 218,523,906.99 to CNY 227,101,151.42, an increase of about 3.3%[35]. - The total profit for Q1 2020 was RMB 15,637,762.20, a decrease of 83% from RMB 92,312,107.46 in the same period last year[39]. - The company achieved a gross profit margin of approximately 16% in Q1 2020, down from 20% in the previous year[39]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥56,790,702.14, a decline of 553.72% compared to ¥12,516,737.69 in the previous year[9]. - Cash generated from operating activities was RMB -56,790,702.14, a decline of 553.72% year-on-year, primarily due to reduced cash receipts from sales[18]. - The total cash inflow from operating activities was CNY 424,995,382.32, a decrease of 23.5% compared to CNY 555,885,544.97 in the previous period[43]. - The cash and cash equivalents at the end of the period were CNY 265,029,380.80, down from CNY 367,672,193.24 at the end of the previous period[45]. - The company experienced a net cash decrease of CNY -374,593,821.18 during the period, compared to a decrease of CNY -80,820,102.23 in the previous period[45]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,795,950,144.51, down 8.20% from ¥1,956,448,835.98 at the end of the previous year[9]. - The company's financial assets decreased by 97.99% to RMB 72,900 from RMB 3,620,689, mainly due to reduced forward foreign exchange contract valuation gains[18]. - Total liabilities decreased from CNY 789,179,960.42 to CNY 643,480,555.85, a decline of about 18.4%[35]. - Current liabilities decreased from CNY 739,918,342.31 to CNY 594,724,809.64, reflecting a reduction of approximately 19.6%[34]. - Non-current assets totaled CNY 266,839,696.50 as of March 31, 2020, down from CNY 271,255,488.43 at the end of 2019, a decrease of about 1.6%[34]. Shareholder Information - The total number of shareholders at the end of the reporting period was 15,902[13]. - The largest shareholder, FORDCHEE DEVELOPMENT LIMITED, held 29.10% of the shares, totaling 53,940,530 shares[13]. Operational Impact - Main operating revenue decreased by 26% year-on-year, significantly impacted by the COVID-19 pandemic and related operational disruptions[19]. - The company plans to closely monitor the ongoing impact of the pandemic and adjust operational strategies accordingly to mitigate adverse effects[19]. - The company has implemented stringent measures to manage inventory and cash flow, including careful procurement and credit management[19]. Financial Derivatives - The company reported a derivative investment amount of RMB 46.37 million as of the end of the reporting period[28]. - The company aims to conduct derivative transactions primarily for hedging purposes and not for speculative trading[28]. - The company’s financial derivative investment is limited to not exceeding 20% of the total investment amount as a loss cap[28]. - The company has established strict internal evaluations and regulatory mechanisms for its financial derivative business, ensuring that risks are controllable[28]. Changes in Accounting Policies - The company has not reported any significant changes in accounting policies or principles for derivative investments compared to the previous reporting period[28]. - The company adopted new revenue and lease standards starting in 2020[56].