Increase(SZ:300713)2020-04-27 16:00Financial Performance - Total revenue for Q1 2020 was ¥26,664,338.34, a decrease of 52.75% compared to ¥56,429,632.34 in the same period last year[7]. - Net profit attributable to shareholders was -¥2,137,168.61, representing a decline of 620.94% from a profit of ¥410,252.17 in the previous year[7]. - Basic and diluted earnings per share were both -¥0.0149, down 613.79% from ¥0.0029 in the same period last year[7]. - The company's operating revenue for the reporting period was CNY 26,664,338.34, a decrease of 52.75% compared to CNY 56,429,632.34 in the same period last year[17]. - The net profit attributable to shareholders was CNY -2,137,168.61, a decline of 620.94% from CNY 410,252.17 in the previous year[17]. - The company reported a net profit of ¥1,127,919.04 for the parent company, down from ¥3,780,531.54 in the previous period[59]. - Net profit for the current period is a loss of ¥4,352,993.40, compared to a loss of ¥1,828,150.21 in the previous period[54]. - The company's operating profit for the current period is a loss of ¥5,437,063.33, compared to a loss of ¥4,753,697.97 in the previous period[54]. Cash Flow - Net cash flow from operating activities improved to ¥17,358,383.87, a significant increase of 350.93% compared to -¥6,918,346.32 in Q1 2019[7]. - Cash inflow from operating activities totaled CNY 75,372,940.52, while cash outflow was CNY 58,014,556.65, resulting in a net cash flow of CNY 17,358,383.87[61]. - The company received CNY 1,885,680.88 in tax refunds, an increase from CNY 945,319.71 in the previous period[61]. - Cash inflow from investment activities was CNY 213,528,949.34, while cash outflow was CNY 250,411,856.18, leading to a net cash flow of negative CNY 36,882,906.84[62]. - The company reported a cash balance of CNY 114,188,110.94 at the end of the period, down from CNY 133,632,805.50 at the beginning[63]. - The total cash inflow from operating activities increased to CNY 69,078,536.48 from CNY 66,808,170.16 in the previous period[65]. - The company paid CNY 30,977,687.44 for goods and services, a decrease from CNY 36,436,556.24 in the previous period[65]. - The net cash flow from investment activities was negative CNY 37,159,857.33, compared to negative CNY 27,344,499.33 in the previous period[66]. Assets and Liabilities - Total assets at the end of the reporting period were ¥969,679,388.86, a decrease of 1.74% from ¥986,866,129.13 at the end of the previous year[7]. - Total liabilities decreased to CNY 245,521,274.62 from CNY 258,355,021.49, a reduction of about 4.9%[46]. - Total equity as of March 31, 2020, was CNY 724,158,114.24, slightly down from CNY 728,511,107.64, a decrease of approximately 0.5%[47]. - Current assets totaled CNY 687,232,053.62, down from CNY 705,477,134.85, indicating a decrease of about 2.5%[44]. - Cash and cash equivalents decreased to CNY 213,170,501.36 from CNY 242,707,435.63, a decline of approximately 12.2%[44]. - Accounts receivable decreased to CNY 204,600,388.96 from CNY 232,281,235.52, representing a decrease of about 11.9%[44]. - Inventory increased to CNY 124,877,740.48 from CNY 105,206,706.36, an increase of approximately 18.7%[44]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,122[11]. - The largest shareholder, Yin Wei, holds 45.08% of the shares, totaling 64,662,175 shares[11]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[12]. Government Support and Subsidies - The company received government subsidies amounting to ¥102,660.53 during the reporting period[8]. Strategic Initiatives - The company plans to enhance market research and adjust strategies in response to potential changes in industry policies and market conditions[21]. - The company aims to maintain product gross margins by continuously innovating and launching high-value-added products[22]. - The company is expanding its market share in the electric power operation and automotive charging power module sectors, facing increasing competition[24]. - The company plans to mitigate raw material price volatility risks by improving product technology solutions and strengthening supply chain management[25]. - The company aims to enhance external expansion through investments, mergers, and acquisitions, having completed a 51% stake acquisition in Changsha Guangyi Converter Technology Co., Ltd. for RMB 68 million in 2018[28]. Project Updates - The company has announced a delay in fundraising investment projects related to the "Smart High-Frequency Switching Power Supply Industrialization Project" and "Smart High-Frequency Switching Power Supply R&D Center Project"[32]. - The smart high-frequency switch power supply industrialization project has a total investment commitment of RMB 23,500 million, with RMB 9,203.25 million invested, representing 39.16% of the planned progress[35]. - The smart high-frequency switch power supply R&D center project has a total investment commitment of RMB 7,500 million, with RMB 750.46 million invested, representing 10.01% of the planned progress[35]. - The company plans to adjust the expected usable status date of the projects from April 25, 2020, to October 25, 2020, due to delays in construction progress[36]. Compliance and Governance - There were no violations regarding external guarantees during the reporting period[38]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[39]. - The company has ensured that all disclosed information regarding raised funds is timely, truthful, accurate, and complete, with no violations in the use and management of raised funds[36].