DDMC(SH:600136)2023-04-26 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 127,746,610.84, representing a decrease of 67.00% compared to the same period last year[5]. - The net profit attributable to shareholders for Q1 2023 was a loss of CNY 197,968,339.81, an increase in loss of 31.94% year-on-year[5]. - The basic and diluted earnings per share for Q1 2023 were both CNY -0.34, reflecting a decrease of 30.77% year-on-year[5]. - Total revenue for Q1 2023 was ¥127,746,610.84, a significant decrease from ¥387,057,800.13 in Q1 2022, representing a decline of approximately 67.0%[25]. - Net profit for Q1 2023 was a loss of ¥200,055,279.20, compared to a loss of ¥184,486,891.92 in Q1 2022, reflecting an increase in losses of approximately 8.3%[26]. - The company experienced a total comprehensive loss of ¥202,559,491.69 in Q1 2023, compared to no comprehensive income reported in Q1 2022[26]. Cash Flow and Assets - The net cash flow from operating activities for Q1 2023 was a negative CNY 60,716,651.22, showing a significant increase of 464.72% compared to the previous year[5]. - Cash and cash equivalents decreased by 77.76% primarily due to the exclusion of Hong Kong Mingcheng and its subsidiaries from the consolidation scope[8]. - The company reported a significant decrease in cash and cash equivalents, with CNY 28,833,686.70 as of March 31, 2023[20]. - Cash and cash equivalents at the end of Q1 2023 were ¥27,546,188.22, down from ¥53,093,978.88 at the end of Q1 2022[29]. - As of March 31, 2023, the company's current assets totaled CNY 1,419,424,677.81, while current liabilities were CNY 5,883,963,139.28[20]. Liabilities and Equity - The company's total liabilities reached CNY 7,069,204,147.08, down from CNY 8,331,219,857.23 in the previous period[22]. - The owner's equity attributable to shareholders was reported at -CNY 4,824,010,745.25, compared to -CNY 4,623,538,192.95 at the end of 2022, indicating a worsening financial position[22]. - The company has defaulted on the principal and interest of its bonds issued in 2020 and 2021, which may further increase liquidity pressure[17]. Operational Issues - The company has identified three instances of violations related to guarantees, but cannot confirm the existence of other similar issues[4]. - The company is involved in multiple equity repurchase obligations and has been sued by counterparties to fulfill these obligations, with the final repurchase amount subject to court rulings[4]. - The company has not audited its Q1 financial statements, indicating a lack of external verification for the reported figures[5]. - The company is unable to verify the accuracy of certain revenue figures related to licensing agreements due to lack of access to detailed agreements[2]. - The company is facing bankruptcy risks due to its negative net assets and has entered a liquidation process in Hong Kong[18]. - The company has appointed a temporary liquidator following the court's decision to enter liquidation, impacting its consolidation scope[18]. Investment and Income - The company reported non-recurring gains and losses totaling CNY 13,513,459.26 for the period, after accounting for tax effects and minority interests[7]. - Investment income increased significantly by 15,642.15% due to the liquidation of Hong Kong Mingcheng[8]. - The company’s investment income for Q1 2023 was ¥689,643,886.38, a significant increase from ¥4,380,876.10 in Q1 2022, marking a growth of approximately 15,700%[25]. - Other income rose by 84.41% due to an increase in government grants received during the period[8]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,499[12]. - The largest shareholder, Wuhan Contemporary Technology Industry Group Co., Ltd., holds 13.50% of shares, with 78,705,094 shares[12]. Audit and Compliance - The company has received a non-standard audit opinion for its 2022 financial report, which may lead to a risk warning for its stock trading[16]. - The company is undergoing a pre-restructuring process as per the court's decision, with uncertainties regarding the success of the restructuring[15].