茂业商业(600828) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was CNY 640,829,874.74, a decrease of 22.12% compared to CNY 822,892,307.59 in the same period last year[5] - Net profit attributable to shareholders decreased by 75.46% to CNY 14,341,941.98 from CNY 58,435,895.63 year-on-year[5] - Basic and diluted earnings per share fell by 75.37% to CNY 0.0083 from CNY 0.0337 in the same period last year[5] - Net profit for Q1 2025 was CNY 13,289,192.75, a decline of 77.49% from CNY 59,159,148.84 in Q1 2024[20] - Total revenue for Q1 2025 was CNY 640,829,874.74, a decrease of 22.08% compared to CNY 822,892,307.59 in Q1 2024[19] Cash Flow and Assets - The net cash flow from operating activities was CNY 208,599,999.75, down 49.12% from CNY 409,981,043.63 in the previous year[5] - Cash flow from operating activities in Q1 2025 was CNY 1,333,124,576.26, down 27.48% from CNY 1,840,666,679.68 in Q1 2024[23] - The company's cash and cash equivalents decreased to RMB 195,157,258.18 from RMB 246,530,768.21, reflecting a reduction of about 20.87%[15] - The ending cash and cash equivalents balance was $182.6 million, down from $594.0 million at the end of the previous period[25] - Cash inflow from other operating activities was $31.2 million, a decrease from $51.7 million, suggesting reduced operational revenue[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 18,377,579,330.67, a decrease of 1.71% from CNY 18,697,875,742.66 at the end of the previous year[6] - Total liabilities decreased from CNY 11,186,063,838.18 to CNY 10,839,917,193.83, a reduction of 3.10%[18] - Non-current liabilities decreased from CNY 6,155,306,534.32 to CNY 5,922,777,340.35, a reduction of 3.79%[18] - The company's total equity increased slightly from CNY 7,511,811,904.48 to CNY 7,537,662,136.84, an increase of 0.35%[18] Operational Insights - The significant decline in net profit was mainly attributed to the decrease in operating revenue[9] - The company did not report any new product developments or market expansion strategies during this quarter[9] - The company reported a decrease in sales expenses from CNY 228,515,474.30 in Q1 2024 to CNY 207,593,047.34 in Q1 2025, a reduction of 9.15%[20] Regulatory and Management Changes - The company received a warning letter from the China Securities Regulatory Commission due to inaccuracies in investment income accounting for the years 2021 to 2023[13] - The company appointed a new secretary to the board, Mr. Zhang Qiang, following the resignation of Ms. Xu Li[13] Investment and Financing Activities - The company has applied for a loan of RMB 48 million from the Industrial and Commercial Bank of China, with a term of 12 months, secured by real estate assets[12] - Cash received from borrowings was $141.4 million, a significant decrease from $916.0 million in the previous period, indicating reduced reliance on debt financing[25] - Cash paid for dividends and interest was $57.2 million, down from $68.2 million, reflecting a decrease in shareholder returns[25]