BESTWAY(SZ:300008)2020-06-03 16:00Financial Performance - Total revenue for Q1 2020 was ¥84,771,732.06, a decrease of 57.47% compared to the same period last year[8]. - Net profit attributable to shareholders was ¥12,726,695.52, an increase of 369.42% year-on-year[8]. - Net profit excluding non-recurring gains and losses was ¥10,938,570.74, up 230.80% from the previous year[8]. - Basic earnings per share increased to ¥0.0133, compared to a loss of ¥0.0049 in the same period last year, representing a growth of 371.43%[8]. - The weighted average return on net assets was 3.10%, an increase of 3.73% compared to -0.63% last year[8]. - The company reported a net loss of ¥1,767,207,566.51, an improvement from a loss of ¥1,779,934,262.03 in the previous period[83]. - The company reported a total comprehensive income of ¥17,246,677.41, compared to a loss of ¥5,485,750.72 in the previous period[99]. - The total profit for the period was -1,930,857.36, reflecting a decrease of 80,008.45 from the previous period[103]. - The total comprehensive income for the period was 1,397,273.45, a decrease of 80,008.45 compared to the previous period[106]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,036,196,370.25, a slight increase of 0.58% from the end of the previous year[8]. - Total assets increased to ¥2,036,196,370.25, up from ¥2,024,537,949.15, reflecting a growth of approximately 0.08%[82]. - The total assets amount to ¥2,328,130,328.34, an increase from ¥2,303,756,495.24 in the previous period[90]. - Total liabilities decreased slightly to ¥1,615,708,794.43 from ¥1,621,297,050.74, a reduction of approximately 0.34%[80]. - The total liabilities amount to ¥959,064,455.15, a decrease from ¥972,703,459.81 in the previous period[90]. - Current liabilities totaled ¥1,610,500,366.01, showing a marginal increase from ¥1,606,426,133.98[80]. - The company has a long-term receivable balance of 481,393,913.24 CNY, reflecting ongoing financial commitments[120]. - Owner's equity totals ¥1,369,065,873.19, an increase from ¥1,331,053,035.43 in the previous period[90]. - The total equity attributable to shareholders was 404,298,197.16 CNY, indicating a challenging profitability environment with retained earnings showing a deficit[124]. Cash Flow - The net cash flow from operating activities was -¥2,458,301.34, a decrease of 146.51% compared to the previous year[8]. - Cash inflows from operating activities totaled 153,863,474.03, down from 269,184,547.05 in the previous period[107]. - Cash outflows from operating activities were 156,321,775.37, compared to 263,899,434.86 in the previous period[110]. - The ending cash and cash equivalents balance was 50,759,875.22, down from 68,083,761.60 in the previous period[113]. - Cash inflows from investment activities amounted to 1,195,000.00, down from 6,200,000.00 in the previous period[110]. - Cash inflows from financing activities totaled 3,200,000.00, compared to 58,500,000.00 in the previous period[113]. Operational Changes - Operating costs decreased by 64.36% year-on-year, attributed to the decline in revenue and cost control measures[28]. - Sales expenses dropped by 85.24% year-on-year, mainly due to reduced business development investments by a subsidiary[28]. - R&D expenses fell by 55.61% year-on-year, reflecting a decrease in investment due to declining operational performance[28]. - Financial expenses decreased by 161.81% year-on-year, influenced by restructuring and foreign currency receivables[28]. - The company confirmed cumulative revenue of 47.82 million yuan from a major contract with Dalian Yintai, which is currently at risk of breach[30]. - Cumulative revenue from contracts with Green Power Water Transport reached 15.99 million yuan, with all 45 units of a specific LNG vessel model delivered[31]. Reorganization and Compliance - The company has filed for reorganization due to an inability to repay due debts, with the Shanghai Third Intermediate People's Court accepting the case on February 14, 2020[36]. - The court appointed a manager for the reorganization process, allowing the company to manage its assets and operations under supervision[36]. - There is a risk of bankruptcy if the reorganization plan is not submitted or approved within the legal timeframe[38]. - The company has committed to not engaging in competitive business activities that could harm its interests or those of its shareholders[39]. - The company has made promises regarding share repurchase and reduction, with specific timelines for lifting restrictions on shares[39]. - The company has not reported any significant changes in its core technology team or major suppliers and customers during the reporting period[36]. - There are no major changes in the company's intangible assets or core competencies reported[36]. - The company has not disclosed any significant new product developments or market expansion strategies in the current report[36]. - The company has committed to avoiding any competitive business activities during the tenure of its key personnel, ensuring compliance with regulatory standards[60]. - There were no violations regarding external guarantees during the reporting period, maintaining a clean compliance record[66]. - The company has made commitments to avoid any illegal occupation of funds or assets, ensuring the protection of shareholder interests[63]. - The company is actively pursuing market expansion and new technology development, although specific figures were not disclosed in the current report[62]. Inventory and Receivables - Accounts receivable increased to CNY 276,563,674.21 from CNY 202,773,913.04, indicating a growth of approximately 36.4%[74]. - Inventory decreased significantly to CNY 83,516,545.30 from CNY 492,684,748.19, reflecting a reduction of about 83.0%[74]. - The company reported a total of CNY 356,044,219.43 in contract assets, with no previous data available for comparison[74].