BOCO(SH:600289)2020-04-28 16:00Financial Performance - Operating revenue for the first quarter was CNY 42,976,438.68, a decrease of 77.72% year-on-year[7]. - Net loss attributable to shareholders was CNY -90,723,511.25, compared to a net loss of CNY -42,619,352.67 in the same period last year[7]. - Basic and diluted earnings per share were both CNY -0.14, compared to CNY -0.07 in the same period last year[7]. - Total operating revenue for Q1 2020 was ¥42,976,438.68, a decrease of 77.7% compared to ¥192,933,832.51 in Q1 2019[26]. - Net loss for Q1 2020 was ¥90,941,878.48, compared to a net loss of ¥43,004,964.76 in Q1 2019, representing a 111.1% increase in losses[27]. - The company reported a total profit loss of ¥91,980,070.93 in Q1 2020, compared to a loss of ¥39,086,186.91 in Q1 2019[26]. - The company’s total comprehensive loss for Q1 2020 was ¥90,941,878.48, compared to a comprehensive loss of ¥43,004,964.76 in Q1 2019[27]. Assets and Liabilities - Total assets decreased by 5.70% to CNY 2,269,170,952.64 compared to the end of the previous year[7]. - The company's total assets amounted to approximately CNY 2.27 billion, a decrease from CNY 2.41 billion as of December 31, 2019, representing a decline of about 5.5%[19]. - Total liabilities as of March 31, 2020, amounted to ¥1,638,802,419.85, a decrease of 2.1% from ¥1,685,031,704.16 on December 31, 2019[21]. - Total current liabilities increased to ¥777,368,727.44 from ¥705,176,003.60, marking a rise of 10.2%[24]. - The company's current liabilities totaled CNY 529.98 million, slightly up from CNY 512.06 million, marking an increase of approximately 3.5%[20]. - Total assets amounted to CNY 2,406,342,115.43 as of January 1, 2020[38]. - Total liabilities reached CNY 1,685,031,704.16, with current liabilities at CNY 512,059,005.06[39]. Cash Flow - Cash flow from operating activities was CNY -91,796,264.60, compared to CNY -81,727,713.71 in the previous year[7]. - In Q1 2020, the company's operating cash inflow was CNY 76,891,438.86, a decrease of 67.4% compared to CNY 235,917,173.92 in Q1 2019[30]. - The net cash flow from operating activities was -CNY 91,796,264.60, compared to -CNY 81,727,713.71 in the same period last year[30]. - The total cash outflow from operating activities was CNY 168,687,703.46, down 47.3% from CNY 317,644,887.63 in Q1 2019[31]. - The company experienced a significant reduction in cash flow from operating activities, indicating potential challenges in revenue generation[30]. - The company is facing liquidity challenges, as indicated by the negative cash flow and significant decrease in cash reserves compared to the previous year[31]. Shareholder Information - The total number of shareholders was 34,234, with the largest shareholder, Yiyang Group, holding 32.89% of shares[11]. - Yiyang Group's shares are subject to a freeze of 64,459,419 shares[11]. - The company has expressed uncertainty regarding the accuracy of financial data due to the pending restructuring of its controlling shareholder, Yiyang Group[6]. Employee and Operational Challenges - The company anticipates a slow revenue growth in the next reporting period due to financial constraints affecting project delivery and employee morale[15]. - The company is facing challenges with user trust and project acceptance due to changes in restructuring processes, which may delay revenue recognition[15]. - The company reported a significant increase in employee compensation liabilities, rising to CNY 15.27 million from CNY 4.14 million, an increase of approximately 269%[20]. - The company is currently not in compliance with certain commitments, which may impact future operations[15]. Inventory and Receivables - Accounts receivable increased to CNY 416.09 million from CNY 404.97 million, reflecting a growth of about 2.7%[19]. - The company has seen a decrease in inventory from CNY 157.86 million to CNY 179.18 million, indicating a change of about 13.5%[19]. - Inventory rose to ¥161,811,565.42 from ¥146,158,835.49, indicating an increase of 10.7%[23].