GLCC(SH:600234)2020-04-28 16:00Financial Performance - Operating revenue surged by 117.71% to CNY 69,177,293.29 compared to the same period last year[5] - Net profit attributable to shareholders rose by 86.78% to CNY 2,581,529.78 year-on-year[5] - Basic earnings per share increased by 57.14% to CNY 0.011[5] - Diluted earnings per share also increased by 57.14% to CNY 0.011[5] - The company's net profit for Q1 2020 was CNY 2,762,482.63, a significant increase from CNY 1,545,229.61 in Q1 2019, representing a growth of approximately 78.7%[22] - Operating profit for Q1 2020 was CNY 3,885,521.20, compared to CNY 2,085,895.22 in Q1 2019, reflecting an increase of approximately 86.1%[22] - The company's total profit for Q1 2020 was CNY 4,474,019.17, compared to CNY 2,085,895.22 in Q1 2019, showing an increase of approximately 114.4%[22] - The total comprehensive income for Q1 2020 was CNY 2,762,482.63, up from CNY 1,545,229.61 in Q1 2019, indicating a growth of approximately 78.7%[23] Assets and Liabilities - Total assets decreased by 0.85% to CNY 599,845,072.52 compared to the end of the previous year[5] - Total liabilities increased to 455,503,183.26 RMB in Q1 2020 from 453,323,542.80 RMB in Q4 2019[20] - Total assets as of March 31, 2020, amounted to 550,777,876.84 RMB, down from 554,083,214.81 RMB at the end of 2019[20] - Total liabilities amounted to ¥511,840,678.16, with current liabilities at ¥411,721,147.14 and non-current liabilities at ¥100,119,531.02[34] - Owner's equity was reported at ¥93,134,632.30, with a significant negative retained earnings of -¥471,821,607.39[34] Cash Flow - Net cash flow from operating activities decreased significantly by 12,800.78% to -CNY 21,143,508.88 compared to the previous year[5] - Cash inflows from operating activities in Q1 2020 totaled CNY 63,226,832.61, significantly higher than CNY 21,380,680.77 in Q1 2019, representing an increase of approximately 195.5%[27] - The net cash flow from operating activities for Q1 2020 was CNY -21,143,508.88, compared to CNY 166,474.15 in Q1 2019, indicating a decline in cash flow[27] - The company had a net cash flow from investing activities of -45,928.00 RMB, reflecting a significant decrease from -200,180.25 RMB in the previous year[28] - Cash flow from financing activities showed a net inflow of 387,970.62 RMB, a notable change from the previous year's outflow[28] Shareholder Information - The total number of shareholders reached 8,391 at the end of the reporting period[9] - The top ten shareholders held a total of 81,000,000 shares, representing 40.5% of the total shares[9] Business Operations - Operating costs increased by 180.71% to ¥53,057,356.60 in Q1 2020 from ¥18,901,059.84 in Q1 2019, primarily due to the addition of new decoration business[12] - The net accounts receivable rose by 81.42% to ¥31,575,943.02 as of March 31, 2020, compared to ¥17,405,244.28 at the end of 2019, indicating increased business activity[11] - The company plans to establish a subsidiary in Hong Kong with an investment of HKD 1 million, focusing on exhibition planning and internet marketing[12] - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[21] Tax and Other Financial Metrics - The company reported a 67.84% decrease in taxes payable, down to ¥1,247,178.74 from ¥3,878,489.85, due to payments of last year's accrued corporate income tax[11] - Deferred income tax liabilities were recorded at 98,799,791.43 RMB, unchanged from the previous quarter[20] - The capital reserve stood at ¥330,243,636.02, reflecting the company's financial strength[34] - The company executed a new revenue recognition standard starting January 1, 2020, transferring completed but unsettled construction contract assets of ¥14,551,581.80 to contract assets[34]