HAIDA(SZ:300320)2020-04-28 16:00Financial Performance - Total revenue for Q1 2020 was ¥443,844,656.16, a decrease of 21.09% compared to ¥562,450,718.92 in the same period last year[7]. - Net profit attributable to shareholders was ¥26,501,651.07, down 53.80% from ¥57,359,180.25 year-on-year[7]. - Basic earnings per share decreased to ¥0.0441, a decline of 53.77% from ¥0.0954 in the previous year[7]. - Net cash flow from operating activities was ¥55,162,964.93, representing a 29.01% decrease from ¥77,708,082.79 in the same period last year[7]. - Total assets at the end of the reporting period were ¥2,714,620,595.58, down 4.53% from ¥2,843,445,071.86 at the end of the previous year[7]. - The weighted average return on equity was 1.56%, down from 3.75% in the same period last year, a decrease of 2.19%[7]. - The company reported a significant decrease in net profit for Q1 2020, down from CNY 58,609,366.93 to CNY 26,981,951.79, representing a decline of about 53.9%[55]. - The company’s total comprehensive income for Q1 2020 was CNY 26,981,951.79, compared to CNY 58,490,408.59 in the previous year, a decline of about 53.8%[56]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,058[10]. - The top shareholder, Qian Zhenyu, holds 11.69% of the shares, amounting to 70,281,118 shares[10]. Operational Challenges - The company faced challenges due to COVID-19, impacting production capacity and order fulfillment[19]. - The company is actively communicating with suppliers and customers to ensure production and delivery amid the pandemic[19]. - The company faced significant impacts on business revenue due to the COVID-19 pandemic, including delayed resumption of production and logistics[30]. - The company is actively monitoring the pandemic situation and maintaining communication with suppliers and customers to minimize adverse effects[30]. Contracts and Projects - The company signed significant contracts, including a 23.99 million yuan contract for the Suzhou Metro Line 6, with 0% completion as of February 28, 2020[19]. - The company reported a significant project with China Railway Tunnel Group, achieving a contract value of CNY 12,806,250.00 for the FGZH-3 project, with a completion rate of 98%[20]. - Another notable contract was awarded to China Railway 14th Bureau Group for the Jinan Yellow River Tunnel project, valued at CNY 12,538,200.00, with a completion rate of 30%[20]. - The company secured a contract worth CNY 12,517,750.00 for the Fuzhou Metro Line 6, with a completion rate of 91%[20]. - A contract for the Pearl River Delta Intercity New Bai Guang project was valued at CNY 12,271,883.52, with a completion rate of 72%[20]. - The company reported a contract value of CNY 10,291,163.50 for the first phase of Fuzhou Metro Line 4, with a completion rate of 1%[20]. - The company is involved in multiple projects with significant contract values, such as CNY 8,682,560.00 for Hangzhou Metro Line 3, with a completion rate of 36%[20]. Research and Development - The company has developed several new products, including high-temperature suspension products and cold-resistant rubber windshields, which are currently in the research and development phase[29]. - The company is currently in the research phase for developing conductive sealing strips for automotive applications, aiming for excellent conductivity and stable extrusion processing performance[27]. - The company is focused on enhancing product performance while ensuring high production efficiency in its R&D projects[27]. - The company is committed to innovation in sealing technology, which is essential for maintaining competitiveness in the automotive industry[25]. Financial Management - The total procurement amount from the top five suppliers was ¥61,461,489.57, accounting for 21.18% of the total procurement, a decrease from 33.05% in the same period last year[30]. - The total sales amount from the top five customers was ¥81,715,041.54, representing 18.41% of total sales, down from 24.28% in the previous year[30]. - The company has not experienced any single supplier or customer accounting for more than 30% of total procurement or sales, indicating a diversified supply chain[30]. - The company has implemented various measures to manage accounts receivable risks, including performance assessments for sales personnel and regular account reconciliations with clients[34]. Asset Management - As of March 31, 2020, the total assets of Jiangyin Haida Rubber & Plastic Co., Ltd. amounted to CNY 2,714,620,595.58, a decrease from CNY 2,843,445,071.86 at the end of 2019, representing a decline of approximately 4.5%[45]. - The company's total current assets decreased to CNY 1,765,473,914.35 from CNY 1,901,254,739.02, reflecting a reduction of about 7.1%[45]. - Total liabilities decreased to CNY 960,076,244.45 from CNY 1,115,882,672.52, a reduction of about 13.9%[47]. - The company's equity increased to CNY 1,754,544,351.13 from CNY 1,727,562,399.34, reflecting an increase of approximately 1.6%[48]. Market Position - The company is actively involved in the automotive sealing market, with multiple contracts in place for different sealing products, ensuring a diversified revenue stream[24]. - The company is focused on expanding its automotive sealing product line, with multiple contracts for different vehicle models in execution[23]. - The company is positioned to leverage its existing contracts to enhance market presence and drive revenue growth in the automotive sector[24].