Sunriver Culture Tourism(600576)2024-04-29 09:21Financial Performance - The company's operating revenue for Q1 2024 was ¥136,678,005.46, a decrease of 13.07% compared to ¥157,233,543.98 in the same period last year[4] - Net profit attributable to shareholders decreased by 57.06% to ¥12,059,585.89 from ¥28,086,441.02 year-on-year[4] - Basic and diluted earnings per share both fell by 66.67%, from ¥0.03 to ¥0.01[5] - Operating profit for Q1 2024 was ¥16,891,503.66, down 52.5% from ¥35,520,766.87 in Q1 2023[21] - Net profit for Q1 2024 was ¥13,407,187.19, a decline of 51.5% compared to ¥27,659,376.88 in Q1 2023[22] - Total revenue for Q1 2024 was ¥136,678,005.46, a decrease of 13.09% compared to ¥157,233,543.98 in Q1 2023[20] - The decrease in net profit was attributed to seasonal impacts on the tourism business, fixed costs, and reduced government subsidies[10] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥26,556,023.73, a decline of 216.05% compared to the previous year[4] - Cash flow from operating activities was ¥128,829,753.86 in Q1 2024, down from ¥156,271,070.66 in Q1 2023, a decrease of 17.55%[25] - Total cash inflow from operating activities was 172,101,494.41, leading to a net cash flow of -172,101,494.41 from 38,843,953.61 in cash to employees, which is an increase compared to the previous period's payment of $23,127,070.09[26] - Cash and cash equivalents as of March 31, 2024, amount to ¥427,512,493.93, down from ¥524,883,284.05 as of December 31, 2023, reflecting a decrease of approximately 18.5%[15] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,712,650,800.17, a decrease of 2.34% from the previous year-end[5] - Total assets decreased to ¥3,712,650,800.17 in Q1 2024 from ¥3,801,622,191.50 in Q1 2023, a reduction of 2.34%[18] - Total liabilities decreased to ¥878,990,246.45 in Q1 2024 from ¥923,091,524.97 in Q1 2023, a decline of 4.77%[18] - The company's equity attributable to shareholders decreased by 1.62% to ¥2,737,672,170.03 from ¥2,782,860,698.00[5] - The company's total equity decreased to ¥2,833,660,553.72 in Q1 2024 from ¥2,878,530,666.53 in Q1 2023, a decline of 1.56%[18] Investments and Acquisitions - The company completed the acquisition of 100% equity of Huangshan Qiyun Mountain Tourism Management Co., Ltd., which is now a wholly-owned subsidiary[6] - The company has ongoing investments in construction projects, with capitalized costs increasing to ¥27,493,119.34 from ¥11,959,192.89, a significant rise of approximately 129.5%[16] - The company has made adjustments to prior financial data due to asset swaps and acquisitions completed in 2023[5][6] Shareholder Information - The total number of common shareholders at the end of the reporting period is 35,333[12] - The largest shareholder, Xiangyuan Tourism Development Co., Ltd., holds 394,158,357 shares, accounting for 36.9% of total shares[12] - Zhejiang Xiangyuan Industrial Co., Ltd. holds 207,773,258 shares, representing 19.4% of total shares[12] Other Financial Metrics - Non-recurring gains included government subsidies amounting to ¥1,159,150.01, while losses from fair value changes of financial assets were -¥1,116,475.14[8][9] - Research and development expenses for Q1 2024 were ¥2,953,967.58, compared to ¥3,307,498.61 in Q1 2023, a decrease of 10.66%[21] - The company reported a significant increase in financial expenses, totaling ¥4,360,521.99 in Q1 2024, compared to a negative expense of -¥369,483.11 in Q1 2023[21] - Accounts receivable increased to ¥69,827,466.56 from ¥52,343,453.16, showing a growth of approximately 33.5%[16] - Inventory as of March 31, 2024, is reported at ¥97,514,921.59, slightly up from ¥96,501,283.00, indicating a marginal increase[16] - Non-current assets include goodwill valued at ¥530,531,577.16, down from ¥532,246,298.26, a decrease of about 0.3%[16] - The company has no significant new product launches or technological developments reported in the current quarter[15]