PWRD(SZ:002624)2024-04-26 10:17Financial Performance - The company's revenue for Q1 2024 was ¥1,329,062,879.22, a decrease of 30.19% compared to ¥1,903,728,618.64 in the same period last year[3] - The net profit attributable to shareholders was -¥29,764,070.63, representing a decline of 112.33% from ¥241,302,884.95 year-on-year[3] - The net cash flow from operating activities was -¥354,612,700.79, a decrease of 129.50% compared to -¥154,513,914.86 in the previous year[3] - Game business revenue was ¥128,496.92 million, down 23.80% year-on-year, while film business revenue was ¥34.72 million, down 82.19% year-on-year[6] - The company reported a net profit margin decline due to increased operating costs and reduced revenue, impacting overall profitability[18] - Net profit for Q1 2024 was ¥38.22 million, a significant decrease compared to ¥233.09 million in Q1 2023, reflecting a decline of approximately 83%[19] - The total profit for Q1 2024 was ¥247.11 million, slightly down from ¥248.40 million in Q1 2023, indicating a decrease of about 0.5%[19] - The company reported a basic and diluted earnings per share of -¥0.02 for Q1 2024, compared to ¥0.13 in Q1 2023[20] Cash Flow and Liquidity - The net cash outflow from operating activities increased by 129.50% compared to the previous period, mainly due to a decline in recharge revenue from game products and a decrease in government subsidies received[8] - The net cash inflow from investing activities increased by 243.93% compared to the previous period, primarily due to proceeds from the disposal of assets related to Universal Pictures[8] - The net cash inflow from financing activities was ¥73,292,065.31, compared to a net outflow of ¥27,916,643.87 in the previous period, mainly due to reduced cash payments for lease liabilities[8] - The net increase in cash and cash equivalents was ¥1,237,364,113.59, reflecting the net impact of cash inflows and outflows from operating, investing, and financing activities[8] - Cash flow from operating activities for Q1 2024 was -¥354.61 million, worsening from -¥154.51 million in Q1 2023[21] - Cash flow from investing activities generated a net inflow of approximately ¥1.52 billion in Q1 2024, compared to ¥443.18 million in Q1 2023, showing a significant increase[22] - Cash and cash equivalents at the end of Q1 2024 totaled approximately ¥4.25 billion, up from ¥3.22 billion at the end of Q1 2023, representing an increase of about 32%[22] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥14,701,883,384.87, an increase of 1.47% from the previous year[3] - Total assets amounted to CNY 14,701,883,384.87, compared to CNY 14,488,533,708.41 at the beginning of the period, showing a growth of 1.5%[17] - Total liabilities increased to CNY 5,295,594,463.46 from CNY 5,063,762,756.18, marking a rise of 4.6%[17] - The company's non-current assets decreased to CNY 6,661,243,438.74 from CNY 7,679,573,831.03, a decline of 13.2%[16] - Short-term borrowings increased to CNY 540,564,375.00 from CNY 420,573,611.12, reflecting a rise of 28.5%[16] Expenses and Investments - The company reported a 38.48% increase in management expenses due to ongoing optimization of talent teams according to strategic planning[6] - R&D expenses for Q1 2024 were approximately ¥498.16 million, a decrease from ¥553.39 million in Q1 2023, representing a decline of about 10%[19] - The company recorded a decrease in financial expenses, with interest expenses at ¥25.84 million in Q1 2024, down from ¥34.60 million in Q1 2023, a reduction of approximately 25%[19] - The company's investment income for Q1 2024 was ¥343.52 million, a recovery from a loss of ¥30.74 million in Q1 2023[19] - Investment income increased by 1,217.35% primarily due to gains from the disposal of assets related to Universal Pictures[6] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 179,516, with the largest shareholder holding 22.32% of the shares[9] - The largest shareholder, Perfect World Holdings Group Co., Ltd., held 432,907,448 shares, representing 22.32% of the total shares[9] - The company plans to repurchase shares using its own funds, with a total repurchase amount not exceeding ¥200 million and a price not exceeding ¥19 per share[12] - As of the report date, the company had repurchased a total of 3,528,900 shares, accounting for 0.1819% of the total share capital, with a total transaction amount of ¥37,939,638[12] Future Outlook - The company plans to focus on long-term development and resource allocation for key projects while optimizing personnel structure[7] - Future outlook includes potential market expansion and new product development strategies to enhance revenue streams[18] - The company completed the sale of assets related to Universal Pictures during the reporting period[14] - The transaction for the sale of assets was executed with ACA World, LLC, a subsidiary funded by Domain Capital Group, LLC[14]