CYTS(SH:600138)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,657,756,086.53, representing a year-on-year increase of 20%[3] - The net profit attributable to shareholders was a loss of CNY 4,801,532.12, compared to a loss of CNY 112,054,142.13 in the same period last year[5] - The net cash flow from operating activities was a negative CNY 56,478,835.01, an improvement from a negative CNY 348,961,625.60 in the previous year[5] - The weighted average return on net assets was -0.08%, improving from -1.78% in the same period last year[5] - The basic and diluted earnings per share were both -0.0066, compared to -0.1548 in the previous year[5] - The net profit attributable to the parent company for Q1 2023 was -4,801,532.12 RMB, compared to -112,054,142.13 RMB in Q1 2022, indicating a significant improvement[21] - The total comprehensive income for Q1 2023 was -17,034,584.70 RMB, compared to -178,542,192.12 RMB in the same period last year, reflecting a reduction in losses[21] - Net profit for Q1 2023 was a loss of ¥15,559,326.43, compared to a loss of ¥177,822,237.83 in Q1 2022, indicating an improvement in financial performance[20] Revenue and Visitor Statistics - The Wuzhen Scenic Area received 1.2742 million visitors, a year-on-year increase of 626.45%, generating revenue of CNY 0.331 billion, up 137.59%[10] - The Gubei Water Town welcomed 248,500 visitors, a year-on-year increase of 19.59%, with revenue of CNY 0.165 billion, up 10.43%[11] - The integrated marketing business achieved revenue of CNY 0.239 billion, a year-on-year increase of 43.61%[11] - In Q1 2023, the company achieved operating revenue of CNY 1.658 billion, a year-on-year increase of 20.00%[9] Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 17,335,561,996.32, down 1.30% from CNY 17,564,752,231.70 at the end of the previous year[4] - Total liabilities for Q1 2023 were ¥9,251,042,766.18, a decrease from ¥9,461,927,167.62 in the previous period[17] - Current assets totaled ¥5,896,766,292.77, down from ¥6,119,605,698.33, indicating a decline of approximately 3.6%[17] - The total equity as of Q1 2023 was CNY 3,179,704,180.95, slightly down from CNY 3,184,599,234.57 in Q1 2022[28] Cash Flow and Liquidity - As of March 31, 2023, the company's cash and cash equivalents were CNY 975.93 million, down from CNY 1.197 billion at the end of 2022[15] - The total cash inflow from financing activities in Q1 2023 was 1,117,800,000.00 RMB, compared to 1,736,200,000.00 RMB in Q1 2022, indicating a decrease of approximately 36%[25] - The net cash flow from financing activities for Q1 2023 was 48,317,767.46 RMB, a decline from 776,861,030.14 RMB in the previous year[25] - The cash inflow from operating activities in Q1 2023 was 2,045,427,782.79 RMB, up from 1,825,291,103.43 RMB in Q1 2022, showing a year-over-year increase of approximately 12%[23] Strategic Initiatives - The company is focusing on gradually releasing tourism consumption potential as the market shows signs of recovery[5] - The company launched new smart features in scenic areas, including facial recognition and self-service language guides, to enhance visitor experience[10] - The hotel business reported revenue growth, continuing its digital transformation to improve service quality[13] - The company is actively expanding outbound tourism products, successfully launching trips to Thailand, Egypt, UAE, New Zealand, and Serbia[12] - The company maintains stable development in strategic investment, contributing to steady income and profit[14] Research and Development - The company reported an increase in research and development expenses to ¥2,397,214.28 from ¥2,283,992.56 year-over-year[20] - Research and development expenses for Q1 2023 were CNY 152,853.65, significantly higher than CNY 15,000.00 in Q1 2022, indicating increased investment in innovation[29] Operational Costs - Total operating costs for Q1 2023 were ¥1,654,200,113.01, up from ¥1,564,634,795.26 in Q1 2022, reflecting a rise of approximately 5.5%[20] - The total operating cash outflow for Q1 2023 was 2,101,906,617.80 RMB, compared to 2,174,252,729.03 RMB in Q1 2022, reflecting a decrease of about 3%[24] - Operating costs for Q1 2023 were CNY 8,577,765.38, down from CNY 13,561,846.19 in the same period last year, reflecting a reduction of 36.5%[29]