Wangfujing(SH:600859)2024-04-26 07:41Financial Performance - The company's operating revenue for Q1 2024 was CNY 3,308,281,586.14, representing a decrease of 1.74% compared to the same period last year[4]. - Net profit attributable to shareholders was CNY 201,839,334.73, down 10.86% year-on-year[4]. - Basic earnings per share were CNY 0.178, reflecting an 11.00% decline compared to the previous year[4]. - Operating profit for Q1 2024 was ¥316,540,092.52, compared to ¥347,789,041.80 in Q1 2023, indicating a decline of 9.0%[18]. - Net profit for Q1 2024 was ¥327,520,556.68, down from ¥359,376,176.09 in Q1 2023, representing a decrease of 8.8%[18]. - Net profit for Q1 2024 was approximately $208.68 million, a decrease of 10.3% compared to $232.59 million in Q1 2023[19]. - The total comprehensive income attributable to the parent company for Q1 2024 was approximately $201.84 million, down from $226.43 million in Q1 2023, a decline of 10.8%[19]. Cash Flow - The net cash flow from operating activities decreased significantly by 56.28%, amounting to CNY 553,835,281.39[4]. - Cash flow from operating activities for Q1 2024 was $553.84 million, significantly lower than $1.27 billion in Q1 2023, indicating a decrease of 56.4%[20]. - Cash flow from investing activities generated a net inflow of $146.73 million in Q1 2024, compared to $158.76 million in Q1 2023, a decrease of 7.6%[21]. - The company reported a net cash outflow from financing activities of approximately $460.69 million in Q1 2024, compared to a net outflow of $381.73 million in Q1 2023[21]. - The company received $50 million in borrowings during Q1 2024, down from $80 million in Q1 2023, indicating a decrease of 37.5%[21]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 41,305,311,040.38, a slight increase of 0.45% from the end of the previous year[4]. - Total assets as of Q1 2024 amounted to ¥41,305,311,040.38, an increase from ¥41,121,633,967.35 in the previous year[17]. - Total liabilities for Q1 2024 were ¥20,655,734,847.01, slightly down from ¥20,682,813,681.41 in Q1 2023[17]. - Current liabilities decreased to ¥8,348,338,533.95 in Q1 2024 from ¥8,888,705,162.93 in Q1 2023, a reduction of 6.1%[16]. - The company reported a decrease in accounts payable to ¥2,584,244,093.94 in Q1 2024 from ¥2,882,649,761.49 in Q1 2023, a decline of 10.4%[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 93,888[8]. - The largest shareholder, Beijing Capital Tourism Group, held 32.84% of the shares, totaling 372,776,396 shares[8]. Business Operations - The company experienced a significant reduction in cash flow from operating activities primarily due to decreased sales revenue[7]. - In Q1 2024, the company's overall operating revenue slightly decreased compared to the same period last year due to uneven recovery trends across various industries and consumption categories[11]. - The company's revenue from duty-free operations at Wangfujing International Duty-Free Port increased by 81% year-on-year, with customer traffic growing by 33%[11]. - The company is actively expanding its marketing efforts with new campaigns and collaborations, including a theme marketing event across 78 stores in 36 cities[11]. - The company is implementing a transformation strategy for its department stores to improve performance, with some stores already showing improved results[11]. Accounting Standards - The company has adopted new accounting standards effective January 1, 2024, which are not expected to have a significant impact on its financial condition or operating results[12].