GSMG(SH:600543)2020-04-24 16:00Financial Performance - Operating revenue for the current period was CNY 17,314,913.01, representing a decline of 70.26% year-on-year[5] - Net profit attributable to shareholders was a loss of CNY 7,241,650.73, a decrease of 159.28% compared to the previous year[5] - Basic earnings per share were CNY -0.02, down 150.00% from CNY 0.04 in the same period last year[5] - The weighted average return on equity decreased by 1.68 percentage points to -0.62%[5] - The net cash flow from operating activities was CNY -22,845,134.43, a significant decline of 2,114.92% compared to the previous year[5] - The company's operating revenue declined by 70.26%, and net profit attributable to shareholders decreased by 159.28%, primarily due to a significant drop in wine sales caused by the COVID-19 pandemic[10] - The net cash flow from operating activities decreased by ¥23.98 million, with cash received from sales down by 51.79% and cash paid for goods up by 57.63% due to delayed payments from the previous year[10] - The company's operating profit for Q1 2020 was a loss of ¥7,844,615.22, compared to a profit of ¥12,714,964.87 in Q1 2019[24] - The net profit for Q1 2020 was a loss of CNY 5,430,239.75, compared to a profit of CNY 11,333,242.24 in Q1 2019, marking a significant decline[29] - The total comprehensive income for Q1 2020 was a loss of CNY 5,430,239.75, compared to a gain of CNY 11,333,242.24 in Q1 2019[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,327,992,595.75, a decrease of 0.46% compared to the end of the previous year[5] - The company's cash and cash equivalents decreased by 47.54% to approximately ¥97.49 million, while trading financial assets increased by 46.05% to approximately ¥254.12 million due to idle funds being invested in wealth management products[10] - The company's long-term borrowings increased by 70.84% to approximately ¥48.70 million, mainly due to a ¥20 million construction loan taken by a subsidiary[10] - Total assets as of the end of Q1 2020 were ¥1,974,723,262.84, slightly up from ¥1,972,307,566.04 at the end of Q1 2019[21] - Total liabilities for Q1 2020 were ¥700,618,778.89, an increase from ¥698,203,082.09 in Q1 2019[21] - The total liabilities amounted to CNY 168,431,841.52, remaining stable compared to the previous period[35] - The company's equity attributable to shareholders was CNY 1,178,824,469.18, consistent with the previous reporting period[35] Shareholder Information - The total number of shareholders at the end of the reporting period was 20,885[8] - The largest shareholder, Gansu Agricultural Reclamation Group Co., Ltd., held 14.27% of the shares, totaling 45,819,636 shares[8] Cash Flow and Investments - The net cash flow from investing activities decreased by ¥49.36 million, primarily due to increased wealth management investments[11] - The net cash flow from financing activities increased by ¥19.36 million, attributed to the new construction loan[11] - The company reported a significant increase in cash outflows related to investment activities, indicating a strategic focus on growth despite current cash flow challenges[31] - The company reported a total cash inflow from investment activities of CNY 70,820,438.35 in Q1 2020, up from CNY 50,000,000.00 in Q1 2019[30] - The net cash flow from investment activities was -CNY 79,417,608.81, compared to -CNY 32,973,526.60 in Q1 2019, indicating increased investment outflows[31] Operational Challenges - The company anticipates a potential cumulative net loss for the year due to the sluggish wine consumption market caused by the pandemic[12] - The company has not disclosed any new product developments or market expansion strategies in this report[5] Research and Development - Research and development expenses for Q1 2020 were ¥140,122.71, down from ¥168,350.25 in Q1 2019[24] - The company incurred research and development expenses of CNY 140,122.71 in Q1 2020, slightly down from CNY 168,350.25 in Q1 2019[28] Financial Management - Financial expenses decreased by 90.42%, primarily due to the transfer of bank deposits to entrusted wealth management[10] - The financial expenses for Q1 2020 were reported as CNY -1,234,504.23, an improvement from CNY -2,645,122.63 in Q1 2019[28]