BINGCHUAN(300533)2024-04-26 11:35Financial Performance - The company's operating revenue for Q1 2024 was ¥560,281,693.89, a decrease of 18.76% compared to ¥689,684,426.85 in the same period last year[5]. - The net profit attributable to shareholders was -¥445,500,833.49, representing a decline of 332.94% from ¥191,254,500.31 in Q1 2023[5]. - The cash flow from operating activities showed a net outflow of -¥128,101,222.41, a significant decrease of 2,427.47% compared to a positive cash flow of ¥5,503,877.89 in the previous year[5]. - Total operating revenue for Q1 2024 was ¥560,281,693.89, a decrease of 18.7% compared to ¥689,684,426.85 in the same period last year[31]. - Net profit for Q1 2024 was a loss of ¥444,225,433.56, compared to a profit of ¥205,142,992.67 in Q1 2023[32]. - The total comprehensive income attributable to the parent company was -446,060,881.38 CNY, compared to 191,306,572.44 CNY in the previous period, indicating a significant decline[33]. - The company reported a basic earnings per share of -1.93 CNY, compared to 0.83 CNY in the previous period, indicating a loss[33]. Assets and Liabilities - The total assets at the end of Q1 2024 were ¥2,609,249,124.51, down 1.98% from ¥2,661,885,847.83 at the end of the previous year[5]. - Total liabilities rose to ¥1,442,591,213.04, an increase of 37.0% compared to ¥1,052,251,145.70 at the beginning of the year[29]. - The company's equity attributable to shareholders decreased to ¥1,188,699,834.52 from ¥1,632,985,203.53, a decline of 27.1%[29]. Cash Flow - The company's cash and cash equivalents decreased to ¥519,692,233.00 from ¥647,014,687.82 at the beginning of the period, reflecting a decline of 19.7%[27]. - The net cash flow from operating activities was -128,101,222.41 CNY, a decrease from 5,503,877.89 CNY in the previous period, reflecting operational challenges[34]. - The company incurred operating cash outflows totaling 808,828,238.96 CNY, compared to 698,443,948.14 CNY in the previous period[34]. - The company’s cash flow from financing activities was -5,482,653.63 CNY, a slight increase in outflow compared to -5,355,899.65 CNY in the previous period[36]. Expenses - Total operating costs surged to ¥1,004,476,942.19, up 102.0% from ¥495,961,239.55 in Q1 2023[31]. - The company's research and development expenses decreased by 20.29% to ¥93,756,049.35, mainly due to reduced outsourcing costs[12]. - The company reported a significant increase in sales expenses by 168.36% to ¥854,585,824.49, mainly due to increased game information service fees[12]. - Sales expenses for Q1 2024 reached CNY 85,458.58 million, an increase of 168.36% year-on-year, with internet traffic costs for five major games totaling CNY 68,307.14 million, accounting for 79.93% of sales expenses[16][17]. Accounts Receivable - The accounts receivable increased by 54.21% to ¥284,482,671.10, primarily due to an increase in overseas game recharge amounts[10]. - Accounts receivable increased significantly to ¥284,482,671.10, up 54.2% from ¥184,480,022.26 at the start of the year[27]. Market Strategy and Risks - The company is focusing on expanding its overseas market presence and increasing investment in new game launches to drive future revenue growth[17]. - The company faces risks including extended overseas investment recovery cycles, rising acquisition costs, and increased market competition, which may adversely affect current and future performance[18]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 34,898[20]. - The largest shareholder, Liu Heguo, holds 39.75% of the shares, totaling 91,943,307 shares[20]. Subsidiary Establishment - The company established a wholly-owned subsidiary in Hong Kong to enhance overseas game distribution and operations[25]. Foreign Exchange and Investment - The company experienced a foreign exchange loss of 560,047.89 CNY during the reporting period[33]. - The investment cash outflow increased by 202.78% to ¥96,889,000.00, primarily for purchasing bank wealth management products[14].