GTCL(000978)2025-04-28 10:35Financial Performance - The company's operating revenue for Q1 2025 was ¥82,627,053.64, a decrease of 6.63% compared to ¥88,496,184.04 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥13,080,374.52, showing an improvement of 2.47% from a loss of ¥13,411,376.89 in Q1 2024[4] - Net profit for Q1 2025 was -¥13,775,856.10, an improvement from -¥15,138,300.73 in Q1 2024, indicating a 8.9% reduction in losses[29] - The weighted average return on equity was -1.23%, slightly declining from -1.06% in the previous year[4] Cash Flow - The net cash flow from operating activities improved by 40.58%, reaching -¥12,628,519.21 compared to -¥21,253,662.84 in the previous year[4] - Cash flow from operating activities showed a net outflow of -¥12,628,519.21, an improvement from -¥21,253,662.84 in the previous year[31] - Cash flow from investing activities improved to -496.89 million, a decrease of 613.76 million or 55.26% compared to Q1 2024, primarily due to reduced cash payments for fixed assets and cash dividends received from an associate company of 1.75 million[14] - Cash flow from investing activities resulted in a net outflow of -¥4,968,879.61, compared to -¥11,106,547.05 in Q1 2024, showing a significant reduction in investment losses[31] - Cash flow from financing activities generated a net inflow of ¥26,943,835.27, an increase from ¥21,305,355.27 in the same period last year[31] - The company reported a total cash and cash equivalents balance of ¥57,211,481.03 at the end of Q1 2025, up from ¥49,805,863.24 at the end of Q1 2024[31] Assets and Liabilities - The total assets at the end of Q1 2025 were ¥2,153,117,098.18, a slight decrease of 0.19% from ¥2,157,194,665.64 at the end of the previous year[4] - The total liabilities increased by 41.79% for short-term non-current liabilities, reaching ¥25,416.85 million, indicating a rise in short-term borrowing[10] - Total liabilities increased to 1,089,589,226.98 CNY from 1,079,890,938.34 CNY, showing a slight increase of about 0.7%[27] - The non-current liabilities decreased from 700,957,382.55 CNY to 660,483,915.97 CNY, a reduction of about 5.8%[27] - The total owner's equity decreased to 1,063,527,871.20 CNY from 1,077,303,727.30 CNY, indicating a decline of approximately 1.3%[27] Income and Expenses - The company reported a significant increase in other income, which rose by 233.76% to ¥339.40 million, primarily due to tax reductions received[12] - The company incurred sales expenses of ¥5,779,390.71, which is an increase of 34.2% compared to ¥4,308,995.62 in Q1 2024[29] - The company’s management expenses decreased to ¥21,037,408.58 from ¥22,737,039.54, reflecting a decline of 7.5%[29] - The company’s sales expenses increased by 34.12% to ¥577.94 million, attributed to higher advertising costs[12] Shareholder Information - The total number of common shareholders at the end of the reporting period was 37,316, with the largest shareholder, Guilin Tourism Investment Group, holding 37.20% of shares[15] - Guilin Tourism Investment Group has pledged 66,120,473 shares, while Guilin Airlines Tourism Group has pledged all of its 57,616,000 shares[15] Legal and Leasing Activities - The company received a court ruling to recover 6.7752 million from Guilin Luoshan Lake Group, which will increase the net profit attributable to shareholders by 4.74 million in 2025[18] - The company plans to publicly lease part of the assets of Guilin Guizhen Investment Co., with a total area of 31,092 square meters and a starting rental price of 987,661.50 yuan per month[20] - The total rental income from the leasing of Tianzhitai Building is 13,091,610 CNY, with a rental fee of 11,453,950 CNY and property service fees of 1,637,650 CNY for a total area of 31,092 square meters[21] - The company has signed a leasing contract with Guangxi Yuanchuang for a term of 9 years and 11 months[21] - The company received a performance deposit of 1,975,300 CNY from Guangxi Yuanchuang[21] Accounts Receivable and Current Assets - Accounts receivable increased to 73,216,435.91 CNY from 59,385,591.69 CNY, representing a rise of about 23.3%[24] - The total current assets amounted to 203,712,431.53 CNY, up from 180,522,601.64 CNY, indicating an increase of approximately 12.8%[24]