TANAC(SZ:300461)2020-04-28 16:00Financial Performance - Total revenue for Q1 2020 was ¥38,389,566.10, a decrease of 85.97% compared to ¥273,621,703.77 in the same period last year[9]. - Net profit attributable to shareholders was ¥1,610,369.29, down 95.52% from ¥35,937,537.66 year-on-year[9]. - The net profit after deducting non-recurring gains and losses was -¥2,181,401.13, a decline of 106.25% compared to ¥34,881,156.16 in the previous year[9]. - Basic earnings per share were ¥0.01, down 96.55% from ¥0.29 in the previous year[9]. - The company reported a significant decrease in operating revenue of 85.97%, amounting to 38.39 million, primarily due to losing control over its subsidiary and the impact of the pandemic on order deliveries[20]. - Net profit attributable to shareholders fell by 95.52% to 1.61 million, reflecting the adverse effects of the pandemic and loss of control over the subsidiary[21]. - Total operating revenue for Q1 2020 was CNY 38,389,566.10, a significant decrease of 86.96% compared to CNY 273,621,703.77 in the same period last year[48]. - Net profit for Q1 2020 was CNY 1,593,066.52, a decrease of 97.66% compared to CNY 68,145,561.14 in Q1 2019[50]. Cash Flow and Assets - Operating cash flow for the period was ¥25,615,877.41, an increase of 74.27% from ¥14,698,872.04 in the same period last year[9]. - Cash flow from operating activities increased by 74.27% to 25.62 million, mainly due to reduced tax payments resulting from lower sales[20]. - The company’s cash flow from investing activities decreased by 88.18% to 99.12 thousand, attributed to reduced purchases of fixed and intangible assets[20]. - Cash and cash equivalents rose to CNY 78.43 million, up from CNY 59.09 million, indicating a significant increase of approximately 32.8%[39]. - The company’s cash and cash equivalents at the end of the current period amount to ¥57,646,537.74, down from ¥93,948,263.63 in the previous period[58]. - The company reported a net cash outflow from financing activities of ¥20,000,000.00, compared to a net inflow of ¥259,325.59 in the previous period[58]. - The cash inflow from financing activities totaled 53,000,000.00, down from 110,000,000.00[61]. Assets and Liabilities - Total assets at the end of the period were ¥508,482,841.09, an increase of 4.85% from ¥484,985,218.59 at the end of the previous year[9]. - The company's total assets increased to CNY 510,368,858.08 as of March 31, 2020, up from CNY 489,327,524.50 at the end of 2019[45]. - Total liabilities increased to CNY 476.73 million from CNY 454.70 million, reflecting a rise of about 4.9%[41]. - The company's total liabilities rose to CNY 472,019,126.65, compared to CNY 453,628,157.23 at the end of 2019[46]. - The company’s total equity was 30,288,841.83, reflecting a stable financial position[64]. Shareholder Information - The total number of shareholders at the end of the period was 7,557, with the top ten shareholders holding significant stakes[11]. - Net assets attributable to shareholders increased by 5.15% to ¥30,350,350.94 from ¥28,864,498.25 at the end of the previous year[9]. Operational Changes and Future Plans - The company plans to enhance R&D investments in wireless charging, consumer electronics, and automotive electronics, aiming to improve product competitiveness[21]. - The company has begun trial production of masks through its subsidiary, which is expected to significantly contribute to profits due to increased global demand[21]. - The company will continue to strengthen cost control measures to enhance profit margins amid ongoing challenges[21]. - The company has not made significant changes to its core technology team or supplier relationships, maintaining stable operations despite market fluctuations[22][23]. Performance Commitments and Obligations - The compensation obligations for the target company's net profit during the performance commitment period (2016-2018) are set at RMB 50 million, RMB 65 million, and RMB 85 million respectively[29]. - The total cash compensation amount that the compensation obligors must pay to the company due to unfulfilled performance commitments is RMB 213.08 million[30]. - The company has established a mechanism for cash compensation if the net profit falls below the committed net profit during any accounting year[30]. - The performance commitment period is subject to adjustments based on requirements from the China Securities Regulatory Commission or the exchange[29]. Miscellaneous - The company has lost actual control over its subsidiaries Yuanyang Xiangrui and Wolf since November 2019, and they will no longer be included in the consolidated financial statements[28]. - The first quarter report was not audited, indicating preliminary financial results[68].