*ST商城(600306) - 2020 Q1 - 季度财报

Financial Performance - Operating revenue fell by 54.05% to CNY 134,316,195.77 year-on-year[5] - Net profit attributable to shareholders was CNY -22,614,771.31, worsening from CNY -19,428,688.33 in the same period last year[5] - Operating revenue decreased by 54.05% year-on-year, mainly due to reduced sales and rent concessions caused by the pandemic[14] - Total revenue for Q1 2020 was ¥134,316,195.77, a decrease of 54.0% compared to ¥292,310,927.05 in Q1 2019[26] - The company's operating revenue for Q1 2020 was ¥38,503,714.79, a decrease of 68.7% compared to ¥122,791,691.44 in Q1 2019[30] - The net profit for Q1 2020 was a loss of ¥27,681,771.41, compared to a loss of ¥27,638,042.57 in Q1 2019, indicating a slight increase in losses[31] Cash Flow - Net cash flow from operating activities improved to CNY 4,926,946.61, compared to CNY -5,074,505.24 in the previous year[5] - The net cash flow from operating activities for Q1 2020 was ¥4,926,946.61, a significant improvement from a negative cash flow of ¥5,074,505.24 in Q1 2019[33] - Operating cash outflow totaled $88,756,869.25, a decrease of 62% compared to $233,051,978.59 in the previous year[36] - Net cash flow from operating activities was $4,832,329.76, down from $14,078,056.48, reflecting a decline of 65.7%[36] Assets and Liabilities - Total assets decreased by 2.29% to CNY 1,385,739,590.37 compared to the end of the previous year[5] - Cash and cash equivalents decreased by 36.40% compared to the beginning of the period, primarily due to a reduction in sales revenue[14] - Total assets as of March 31, 2020, were ¥1,408,143,102.37, a slight decrease from ¥1,430,441,945.51 as of December 31, 2019[22] - Total liabilities as of March 31, 2020, were ¥1,749,806,455.71, an increase from ¥1,744,423,527.44 as of December 31, 2019[23] - Current assets totaled ¥85,983,048.09 as of March 31, 2020, down from ¥93,488,687.65 as of December 31, 2019[22] - Non-current assets amounted to ¥1,322,160,054.28 as of March 31, 2020, compared to ¥1,336,953,257.86 as of December 31, 2019[22] Shareholder Information - The number of shareholders reached 11,474 at the end of the reporting period[11] - The largest shareholder, Zhongzhao Investment Management Co., Ltd., holds 24.22% of the shares[11] Government Support and Future Plans - The company reported a total of CNY 325,237.55 in government subsidies related to normal business operations[8] - The company acknowledged significant uncertainties regarding its ability to continue as a going concern, as noted in the audit report[12] - The company plans to take effective measures to maintain stable and healthy development to protect shareholder interests[12] - The company expects to continue receiving financial support from its actual controller, with CNY 140 million in loan capacity from related party Shenzhen Maoye Department Store Co., Ltd. in 2020[15] - The company plans to leverage its core store locations in Shenyang to enhance supplier cooperation and improve consumer experience, aiming to recover profitability[15] Cost Management - Operating costs decreased by 57.41% year-on-year, reflecting the decline in sales[14] - The company’s management expenses were ¥21,220,339.20 in Q1 2020, down from ¥25,538,009.30 in Q1 2019, indicating a reduction of 16.9%[30]