Etrol(SZ:300370)2020-04-29 16:00Financial Performance - Total revenue for Q1 2020 was ¥46,802,979.66, a decrease of 76.72% compared to ¥201,081,421.36 in the same period last year[8] - Net profit attributable to shareholders was -¥47,076,209.00, representing a decline of 4,716.83% from ¥1,019,666.21 in the previous year[8] - The net cash flow from operating activities was -¥17,783,454.97, a decrease of 266.93% compared to -¥4,846,524.81 in Q1 2019[8] - Basic and diluted earnings per share were both -¥0.0492, down 4,572.73% from ¥0.0011 in the same quarter last year[8] - The company reported a net loss of CNY 276,863,884.77 in Q1 2020, compared to a loss of CNY 229,787,675.77 in the previous quarter[50] - The net profit for Q1 2020 was a loss of CNY 51.89 million, a significant decline of 3976.52% from a loss of CNY 1.27 million in Q1 2019[21] - The total operating revenue for Q1 2020 was CNY 46,802,979.66, a significant decrease of 76.7% compared to CNY 201,081,421.36 in the same period last year[55] - The total operating cost for Q1 2020 was CNY 106,896,062.08, a decrease from CNY 210,589,108.02 in the same period last year, representing a reduction of approximately 49.3%[56] - The total comprehensive income for Q1 2020 was a loss of CNY 52,084,057.20, compared to a loss of CNY 1,248,814.72 in the same period last year[57] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,480,176,150.21, a decrease of 4.70% from ¥3,651,776,235.49 at the end of the previous year[8] - The total liabilities decreased from CNY 2,639,136,769.13 in Q4 2019 to CNY 2,519,519,505.47 in Q1 2020, reflecting a reduction of approximately 4.5%[50] - The total equity attributable to shareholders of the parent company decreased from CNY 869,101,767.22 at the end of 2019 to CNY 821,841,757.29, a decline of about 5.4%[50] - Cash and cash equivalents at the end of Q1 2020 were CNY 30.84 million, down 53.28% from CNY 66.00 million at the end of Q4 2019, primarily due to reduced cash inflows[21] - The company's cash and cash equivalents decreased to RMB 46,702,764.16 from RMB 115,472,998.32, representing a decline of about 59.6%[47] - Accounts receivable decreased to RMB 737,280,317.02 from RMB 816,769,777.55, a reduction of approximately 9.7%[47] - The company’s total assets slightly decreased from CNY 3,651,776,235.49 at the end of 2019 to CNY 3,480,176,150.21 in Q1 2020, a decline of approximately 4.7%[50] Cash Flow - The company reported a significant decrease in operating cash flow, with a net outflow of CNY 17.78 million in Q1 2020, compared to a net outflow of CNY 4.85 million in Q1 2019[21] - Cash inflows from operating activities for Q1 2020 totaled CNY 264,249,243.38, down from CNY 432,591,658.07 in Q1 2019, representing a decrease of approximately 38.8%[63] - The net cash flow from operating activities was -17,783,454.97 CNY, compared to -4,846,524.81 CNY in the previous period, indicating a decline in operational cash flow[64] - Total cash outflow from operating activities amounted to 282,032,698.35 CNY, down from 437,438,182.88 CNY year-over-year[64] - The net cash flow from financing activities was -60,421,541.33 CNY, compared to -108,785,136.71 CNY in the previous period, reflecting a reduced outflow[65] Shareholder Information - There were 55,914 total common shareholders at the end of the reporting period[12] - The largest shareholder, Yu Ling, held 17.44% of the shares, totaling 166,911,026 shares, all of which were pledged[12] Government Support and Subsidies - The company received government subsidies amounting to ¥1,382,182.02 during the reporting period[9] Operational Challenges - The company faced significant risks due to the COVID-19 pandemic, leading to project delays and potential impacts on achieving business targets[25] - As of the end of the reporting period, the company had 46 frozen bank accounts, with a total frozen amount of 14.79 million RMB, which has restricted project bidding capabilities[29] Technological Development - The company received three patent authorizations during the reporting period, including two invention patents and one utility model patent[23] - The company is currently testing the CyberE601 safety RTU, which integrates various security features and is expected to enhance its market position in industrial control security[24] - The first-generation CyberEC108 safety switch has completed functional development and is in the testing phase, contributing to the company's overall industrial control security solutions[24] - The SuperE32 L520 RTU project has completed the project initiation and is in the demand analysis and design phase, aimed at increasing the localization rate of key equipment[24] Financial Management - The company plans to enhance accounts receivable collection, aiming for a recovery rate of over 60% for new contracts[27] - The company is implementing stricter internal controls and contract management to mitigate financial risks associated with project selection and execution[27] - The overall financing environment remains uncertain, posing additional funding pressure on the company's growth initiatives[26] Investment and Projects - Cumulative investment in the RTU product industrialization project is CNY 11,624.74 million, achieving 100% of the planned investment[36] - Cumulative investment in the Hangzhou Smart Industrial Park project is CNY 25,177.59 million, also achieving 100% of the planned investment[36] - The acquisition of a 52.40% stake in Sanda New Technology has been fully funded with CNY 12,860 million[36] - The RTU product industrialization project is expected to generate CNY 5,010 million in benefits for 2020, but only CNY 261.12 million has been realized due to seasonal business impacts[37] - The Hangzhou Smart Industrial Park project has faced delays due to increased costs and design adjustments, with total investment reaching CNY 31,001.69 million as of April 25, 2019[37]