GLCC(SH:600234)2019-04-25 16:00Financial Performance - Operating revenue decreased by 3.78% to CNY 31,775,136.67 year-on-year[5] - Net profit attributable to shareholders increased by 3.38% to CNY 1,382,096.03 compared to the same period last year[5] - The net profit excluding non-recurring gains and losses decreased by 22.54% to CNY 1,382,096.03[5] - Net profit for Q1 2019 was CNY 1,545,229.61, down 52.8% from CNY 3,276,286.73 in Q1 2018[20] - The net profit for Q1 2019 was a loss of CNY 3,104,220.20, compared to a loss of CNY 1,038,863.84 in Q1 2018, indicating a significant decline in profitability[24] Assets and Liabilities - Total assets increased by 3.49% to CNY 522,830,597.45 compared to the end of the previous year[5] - The total assets as of March 31, 2019, amounted to CNY 542,160,381.40, an increase from CNY 501,611,625.49 at the end of 2018[17] - Total liabilities as of March 31, 2019, were CNY 435,893,995.09, up from CNY 392,241,018.98 at the end of 2018[18] - The company reported a total equity of 72,787,443.45 RMB, with an accumulated deficit of -489,976,521.69 RMB[34] - Total liabilities reached 392,241,018.98, with current liabilities at 293,337,962.55 and non-current liabilities at 98,903,056.43[37] Cash Flow - Cash flow from operating activities improved significantly to CNY 166,474.15 from a negative CNY 40,980,071.62 in the previous year[5] - The cash flow from operating activities for Q1 2019 was CNY 166,474.15, a recovery from a negative cash flow of CNY 40,980,071.62 in Q1 2018[26] - The company incurred cash outflows of 23,667,352.40 RMB from financing activities, primarily due to debt repayments and dividend distributions[30] Shareholder Information - The number of shareholders at the end of the reporting period was not disclosed, but the top ten shareholders held a total of 13.42% to 9.89% of shares[8] - The largest shareholder, Shenzhen Qianhai Paide Gaosheng Investment Partnership, held 27,164,647 shares, accounting for 13.42%[8] - The company reported a basic earnings per share of CNY 0.01, unchanged from the previous year[5] - The company reported a basic earnings per share of CNY 0.01 for Q1 2019, unchanged from Q1 2018[21] Expenses - Sales expenses rose by 82.86% to ¥2,098,511.92 due to increased media business costs[9] - Financial expenses increased by 44.20% to ¥3,259,002.79 due to higher interest costs from increased borrowings[9] - The company incurred financial expenses of CNY 2,920,405.23 in Q1 2019, significantly higher than CNY 448,211.94 in Q1 2018[23] - The management expenses decreased to CNY 1,269,218.27 in Q1 2019 from CNY 1,810,692.90 in Q1 2018, reflecting cost control measures[23] Accounts and Provisions - Accounts receivable increased by 217.72% to ¥25,008,065.38 due to business growth[9] - Deferred tax assets rose by 217.57% to ¥296,634.98 as a result of bad debt provisions[9] - Accounts payable increased by 61.28% to ¥26,127,919.17 due to higher supplier payments[9] - Asset impairment losses surged by 445.70% to ¥942,859.60 due to increased bad debt provisions[9] - The company reported an asset impairment loss of CNY 2,174,581.66 in Q1 2019, compared to CNY 1,352,905.94 in Q1 2018[23] Cash and Equivalents - The company’s cash and cash equivalents were CNY 538,960.75 as of March 31, 2019, down from CNY 1,389,032.90 at the end of 2018[16] - The total cash and cash equivalents at the end of Q1 2019 were CNY 20,766,927.63, down from CNY 36,394,513.46 at the end of Q1 2018[27] - Cash and cash equivalents were reported at 1,389,032.90, indicating liquidity position[36]