CYTS(600138)2021-04-29 16:00Financial Performance - Operating revenue for the period was ¥1.40 billion, representing a year-on-year increase of 16.40%[11] - The net profit attributable to shareholders was -¥65.19 million, a reduction in loss of ¥133 million compared to the previous year[17] - The hotel business saw a revenue increase of 52% year-on-year in Q1, with net profit reducing losses by 20.81 million yuan[20] - The company reported a gross profit margin of approximately 10.5% for Q1 2021, compared to 10.3% in Q1 2020[46] - Net loss for Q1 2021 was CNY -89,025,875.66, compared to a net loss of CNY -290,925,920.67 in Q1 2020, showing an improvement of 69.4%[48] - Basic earnings per share for Q1 2021 were CNY -0.0901, an improvement from CNY -0.2732 in Q1 2020[48] Visitor Statistics - The number of visitors to Wuzhen Scenic Area reached 502,900, a 75.65% increase year-on-year, generating revenue of ¥129.25 million, up 76%[18] - The number of visitors to Gubei Water Town increased by 170.73% year-on-year to 160,000, with revenue of ¥105.78 million, a 130% increase[18] - During the Qingming Festival holiday, visitor numbers and revenue for Wuzhen and Gubei Water Town recovered to 60%-70% and 70%-90% of the same period in 2019, respectively[18] Cash Flow and Liquidity - The net cash flow from operating activities was -¥90.72 million, compared to ¥333.41 million in the same period last year[11] - Cash and cash equivalents decreased by 37.51% from the beginning of the year, primarily due to investments in financial products and repayment of bank loans[22] - The cash flow from operating activities for Q1 2021 was CNY -90,723,512.28, a significant decline compared to CNY 333,411,769.45 in Q1 2020[56] - The company reported cash inflow from operating activities totaling CNY 2,019,574,325.02 in Q1 2021, slightly up from CNY 2,011,919,098.08 in Q1 2020[56] - Cash outflow from operating activities in Q1 2021 was CNY 2,110,297,837.30, compared to CNY 1,678,507,328.63 in Q1 2020, marking an increase of approximately 25.7%[56] Assets and Liabilities - Total assets at the end of the reporting period reached ¥17.16 billion, a 0.63% increase compared to the end of the previous year[11] - Non-current assets totaled ¥10,650,796,161.54, an increase from ¥9,577,923,072.74[33] - Total liabilities amounted to ¥8,678,887,115.68, up from ¥8,482,995,404.21[35] - Current liabilities decreased to ¥6,928,554,408.13 from ¥7,608,124,823.41[35] - The company's equity attributable to shareholders was ¥6,260,795,372.07, down from ¥6,326,566,696.57[35] Cost Management - The company has actively compressed costs and expenses in response to the ongoing pandemic and changing consumer behavior[17] - Total operating costs for Q1 2021 were CNY 1,529,934,461.56, up from CNY 1,454,568,951.49 in Q1 2020, reflecting a rise of 5.2%[46] - The company reported a decrease in sales expenses to CNY 183,609,633.42 in Q1 2021 from CNY 225,049,998.47 in Q1 2020, a reduction of 18.4%[46] Investments and Financial Activities - Investment income improved significantly, with a year-on-year increase as the profits of a joint venture recovered[22] - The company realized asset disposal gains of 50.98 million yuan from selling a property, contributing positively to financial results[22] - The total cash flow from investment activities in Q1 2021 was CNY -341,082,380.02, an improvement from CNY -516,488,193.63 in Q1 2020[56] - The company raised CNY 988,700,000.00 from financing activities in Q1 2021, a decrease from CNY 1,689,730,910.20 in Q1 2020, indicating a decline of approximately 41.3%[56] Changes in Financial Position - Total equity reached ¥8,572,425,893.86, remaining unchanged from the previous period[66] - The total liabilities decreased to CNY 1,613,339,571.99 in Q1 2021 from CNY 1,834,481,516.50 in Q1 2020, a reduction of 12.0%[46] - The total equity decreased to CNY 3,166,711,692.14 in Q1 2021 from CNY 3,197,958,543.79 in Q1 2020, a decline of 1.0%[46] Research and Development - Research and development expenses increased to CNY 1,791,977.15 in Q1 2021 from CNY 796,181.11 in Q1 2020, representing a growth of 125.0%[46] - Research and development expenses were reported at CNY 8,854.10 for Q1 2021, while management expenses increased to CNY 22,780,303.99 from CNY 14,871,439.99 in Q1 2020, reflecting a rise of about 52.9%[51] Other Financial Metrics - The weighted average return on net assets was -1.0357%, an improvement from -3.1607% in the previous year[11] - Financial expenses increased by 46.21% year-on-year due to new leasing interest expenses under the updated accounting standards[22] - Other comprehensive income after tax for Q1 2021 was CNY -584,449.98, compared to CNY 461,872.91 in Q1 2020[48]