海新能科(300072) - 2020 Q1 - 季度财报

Financial Performance - Total revenue for Q1 2020 was CNY 1,026,635,611.10, a decrease of 47.96% compared to the same period last year[11]. - Net profit attributable to shareholders was CNY -81,716,828.41, representing a decline of 878.57% year-on-year[11]. - The company reported a basic earnings per share of CNY -0.035, a decrease of 800.00% year-on-year[11]. - Operating revenue decreased by 46.85% to ¥930,089,082.86 due to a decline in sales[31]. - The company reported a net profit of CNY 5,446,261,621.88 in undistributed profits, down from CNY 5,527,978,450.29, a decline of approximately 1.5%[77]. - The company reported a net loss of ¥115,668,724.91 for the current period, compared to a net profit of ¥20,167,679.56 in the previous period, indicating a significant decline in profitability[92]. - The total comprehensive income for the current period was -¥92,987,888.24, compared to ¥10,328,925.65 in the previous period, reflecting a substantial decline[96]. - The company’s total profit for the current period was -¥117,476,809.11, compared to a profit of ¥28,790,980.17 in the previous period, highlighting a significant downturn in financial performance[92]. Cash Flow and Liquidity - Net cash flow from operating activities was CNY -472,034,862.66, an increase of 489.11% compared to the previous year[11]. - Cash received from sales decreased by 33.94% to ¥1,429,299,849.79, reflecting a decline in revenue[31]. - Cash inflow from operating activities totaled 1,526,105,184.48, down from 2,194,534,039.57 in the previous period, indicating a decrease of approximately 30.5%[109]. - The net cash flow from operating activities was -472,034,862.66, compared to -80,127,267.61 in the previous period, reflecting a significant decline[109]. - Cash outflow from investing activities was 25,943,579.91, a decrease from 70,543,876.59 in the previous period[109]. - The ending cash and cash equivalents balance was 2,636,919,474.39, an increase from 2,066,778,599.73 in the previous period[111]. - The cash and cash equivalents net decrease was -822,587,358.95, contrasting with an increase of 253,768,307.36 in the previous period[115]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 20,424,193,444.74, down 4.36% from the end of the previous year[11]. - Total liabilities decreased to CNY 9,173,944,729.45 from CNY 10,013,953,036.09, reflecting a reduction of approximately 8.4%[77]. - Current assets totaled CNY 8,294,813,854.74, down from CNY 8,971,117,621.67, indicating a decrease of approximately 7.5%[78]. - Total equity attributable to shareholders decreased to CNY 9,576,124,281.53 from CNY 9,646,035,048.83, a decline of about 0.7%[77]. - Total assets decreased to CNY 20,424.19 million from CNY 21,355.72 million, a decline of approximately 4.4%[71]. - Total liabilities amounted to CNY 10,013,953,036.09, with current liabilities totaling CNY 8,166,330,808.41[123]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 58,934[14]. - The largest shareholder, Beijing Haidian Technology Development Co., Ltd., held 29.48% of the shares[14]. - The top ten shareholders did not engage in repurchase transactions during the reporting period[18]. Operational Highlights - The company received government subsidies amounting to CNY 12,038,004.24 during the reporting period[11]. - The company plans to enhance its biomass energy production capabilities in Shandong, Henan, and Guangxi[39]. - The company achieved a stable production and sales of desulfurization and denitrification agents, with increased output and sales compared to the previous year[39]. - The company plans to invest RMB 100 million to establish a wholly-owned subsidiary in Guangxi for the development of biomass liquefaction technology and green energy industry[44]. Changes in Receivables and Payables - Accounts receivable decreased by 73.22% to RMB 139,679,472.12 from RMB 521,676,858.50, primarily due to a reduction in customer acceptance bills received[27]. - Other receivables decreased by 35.22% to RMB 169,027,205.61 from RMB 260,908,174.28, attributed to the recovery of land deposit guarantees[27]. - Tax payable decreased by 62.60% to RMB 33,496,649.05 from RMB 89,554,769.22, resulting from a decline in operating income[27]. - The company has a total of 33,199,293.39 in taxes payable[129]. Research and Development - Research and development expenses were ¥46,492,398.89, slightly decreased from ¥50,436,689.77 in the previous period, indicating a focus on maintaining R&D investment despite losses[92]. - The company received a total of 45 patent authorizations during the reporting period, including 41 invention patents[35]. Risks and Challenges - The company is facing risks in its biofuel project due to uncertainties in the supply chain and a projected short-term decline in biofuel demand due to reduced fuel consumption in Europe[42]. - The company has seen a significant decrease in accounts receivable due to strategic adjustments, although some accounts remain uncollected[43]. - The company has a substantial backlog of overseas modular equipment manufacturing projects, but these may be impacted by global economic uncertainties and the COVID-19 pandemic[43]. - The company is optimizing project management processes to address challenges related to the implementation of existing external engineering projects[43].