SNC Net(SH:605398)2025-04-25 09:50Financial Performance - The company's operating revenue for Q1 2025 was ¥120,717,420.21, a decrease of 9.44% compared to ¥133,304,564.23 in the same period last year[4] - Net profit attributable to shareholders decreased by 41.32% to ¥5,461,213.88 from ¥9,306,431.56 year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 71.82% to ¥2,417,658.34 from ¥8,578,776.78 in the previous year[4] - The basic earnings per share decreased by 41.32% to ¥0.03 from ¥0.06 in the same period last year[4] - Total revenue for Q1 2025 was CNY 120,717,420.21, a decrease of 9.5% compared to CNY 133,304,564.23 in Q1 2024[20] - Net profit for Q1 2025 was CNY 5,276,014.01, a decline of 43.5% from CNY 9,312,517.07 in Q1 2024[22] - The basic earnings per share for Q1 2025 was CNY 0.03, down from CNY 0.06 in Q1 2024[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,157,552,651.28, a decrease of 4.06% from ¥1,206,497,226.03 at the end of the previous year[5] - Total assets decreased from ¥1,206,497,226 to ¥1,157,552,651, a reduction of about 4.05%[17] - Total liabilities decreased to CNY 129,374,193.75 in the latest report from CNY 183,587,849.60 in the previous period[18] - Current liabilities decreased from ¥177,980,011 to ¥122,527,145, a decrease of approximately 31.1%[17] - Accounts payable decreased from ¥79,941,904 to ¥63,433,953, a decline of about 20.7%[17] - The company reported a decrease in accounts receivable from ¥98,228,085 to ¥86,454,012, a reduction of approximately 12%[16] Cash Flow - The net cash flow from operating activities increased significantly to ¥18,780,336.38 from a negative cash flow of ¥60,059,378.43 in the same period last year[4] - Operating cash flow for Q1 2025 was CNY 18,780,336.38, compared to a negative cash flow of CNY -60,059,378.43 in Q1 2024[24] - The company reported a significant increase in cash received from sales, totaling CNY 180,083,043.31 in Q1 2025, compared to CNY 113,299,050.58 in Q1 2024[24] - Cash and cash equivalents decreased to ¥604,150,798 from ¥790,669,517, a decline of approximately 23.5%[16] - The ending balance of cash and cash equivalents was $603.08 million, down from $742.18 million at the end of the previous period[25] - The net increase in cash and cash equivalents was -$186.73 million, compared to -$197.64 million in the prior year[25] Shareholder Information - Total shareholders at the end of the reporting period reached 23,275[13] - The top 10 shareholders hold a combined 60.5% of the shares, with the largest shareholder owning 18.61%[13] - The company repurchased a total of 2,475,366 shares, representing 1.52% of the total share capital of 162,716,379 shares[14] Business Operations - The company attributed the decline in revenue to a structural transformation in customer business systems and a decrease in sales of non-core products and services[10] - The new business segment focused on "short dramas and intelligent content production and marketing" is still in the early stages of technology investment, with revenue not yet covering initial costs[10] Government Support - Government subsidies recognized during the period amounted to ¥2,207,823.70, contributing to the non-recurring gains[7] Financial Management - The company’s financial management team is led by Sun Zhengyang, with Shi Hui overseeing accounting operations[25] - The overall financial performance indicates a need for strategic adjustments to improve cash flow and investment returns moving forward[25] - The company is set to implement new accounting standards starting in 2025, which may impact future financial reporting[25]