CSI(SH:600158)2021-04-26 16:00Financial Performance - Operating revenue for the first quarter was approximately ¥181.54 million, representing an increase of 46.98% year-on-year[13]. - Net profit attributable to shareholders was approximately -¥53.73 million, showing a decline compared to -¥30.83 million in the same period last year[13]. - Cash flow from operating activities was approximately -¥289.84 million, indicating a significant decrease compared to -¥120.95 million in the previous year[13]. - Basic and diluted earnings per share were both -¥0.0560, reflecting a decline from -¥0.0365 in the same period last year[13]. - The company reported a gross profit margin of approximately -43.9% for Q1 2021, compared to -22.5% in Q1 2020[47]. - Net loss for Q1 2021 was RMB 86,511,246.19, slightly improved from a net loss of RMB 87,021,174.05 in Q1 2020[50]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥5.26 billion, a decrease of 1.52% compared to the end of the previous year[13]. - The total number of shareholders at the end of the reporting period was 77,297[16]. - Total assets decreased from $5,343,922,844.50 to $5,262,446,634.68, a decline of approximately 1.5%[34]. - Current liabilities decreased from $1,557,779,265.60 to $1,372,265,325.70, a reduction of about 11.9%[34]. - Non-current liabilities increased from $309,284,710.00 to $499,633,398.32, an increase of approximately 61.5%[34]. - Total equity decreased from $3,476,858,868.90 to $3,390,547,910.66, a decline of about 2.5%[34]. Cash Flow - The net cash flow from operating activities was -¥289,840,299.48, showing a significant decline from -¥235,627,727.17 in the previous period[22]. - Cash flow from financing activities surged by 1413.15% to ¥112,159,004.82, reflecting increased borrowings and investments received[24]. - Cash inflow from operating activities for Q1 2021 was CNY 270,734,933.67, an increase of 6.4% compared to CNY 254,810,341.26 in Q1 2020[60]. - Cash outflow from operating activities for Q1 2021 was CNY 560,575,233.15, up from CNY 490,438,068.43 in Q1 2020, resulting in a net cash flow from operating activities of -CNY 289,840,299.48[60]. Shareholder Information - The largest shareholder, the State Sports General Administration Sports Fund Management Center, held 19.49% of the shares[16]. - The company’s equity attributable to shareholders totaled RMB 2,496,061,607.65, a decrease of RMB 711,792.38 compared to the previous period[77]. Expenses - The company experienced a significant increase in management expenses, which rose to RMB 56,162,185.06 from RMB 46,648,763.30 in the previous year[47]. - The company’s sales expenses decreased by 44.16% to ¥17,884,228.84 from ¥32,029,899.82, primarily due to reduced labor costs[22]. Investment and Financing - Long-term borrowings increased by 57.01% to ¥445,909,325.32 from ¥283,999,325.32, indicating a strategy to leverage for growth[22]. - The company’s investment income turned negative at -¥5,457,948.07, a decline of 156.13% from ¥9,723,774.74, mainly due to reduced investment returns from associates[22]. Government Support - Government subsidies recognized in the current period, closely related to normal business operations, totaled approximately ¥59,900.00[13]. Research and Development - Research and development expenses for Q1 2021 amounted to RMB 28,685,431.94, an increase of 24.0% from RMB 22,975,335.78 in Q1 2020[47]. - Deferred income rose significantly by 1483.23% to ¥798,662.14, attributed to research and development grants received[22].