CRCH(SH:600636)2021-04-26 16:00Financial Performance - The total revenue for the first quarter of 2021 was CNY 46,707,105.83, a decrease of 45% compared to CNY 84,915,969.60 in the same period last year[6] - The net profit attributable to shareholders was CNY 4,064,255.22, down 76.91% from CNY 17,601,868.68 year-on-year[7] - The company's operating revenue for the first quarter of 2021 was RMB 46,707,105.83, a decrease of 45% compared to RMB 84,915,969.60 in the same period last year[11] - The company's net profit attributable to shareholders was RMB 4,064,255.22, down 77.02% from RMB 17,683,824.46 in the previous year[12] - Operating profit for Q1 2021 was CNY 3,747,822.49, down from CNY 13,652,141.26 in Q1 2020, indicating a decline of about 72.5%[26] - Net profit for Q1 2021 was CNY 4,064,255.22, compared to CNY 17,683,824.46 in Q1 2020, reflecting a decrease of approximately 77%[27] - The company reported a significant decrease in investment income, which fell by 84.3% to RMB 4,372,934.06 from RMB 27,860,812.48 in the previous year[12] - Basic and diluted earnings per share for Q1 2021 were CNY 0.0091, down from CNY 0.0394 in Q1 2020, a decrease of approximately 76.9%[27] Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 67,249,359.81, compared to negative CNY 51,264,428.60 in the previous year[7] - Cash inflows from operating activities totaled CNY 81,633,961.69 in Q1 2021, down from CNY 131,781,460.98 in Q1 2020, a decline of about 38%[31] - The company incurred financial expenses of CNY -4,799,486.71 in Q1 2021, slightly higher than CNY -4,301,756.31 in Q1 2020[26] - The total cash outflow from investing activities was 263,552,130.80 RMB in Q1 2021, up from 215,603,061.79 RMB in the same period last year, resulting in a net cash flow from investing activities of -60,424,886.77 RMB[32] - The company experienced a net cash flow from financing activities of -72,866,321.42 RMB in Q1 2021, reflecting a significant increase in cash outflows compared to the previous year[33] - The total cash and cash equivalents at the end of Q1 2021 were 644,251,333.07 RMB, down from 903,475,629.05 RMB at the end of Q1 2020, showing a decrease of approximately 29% year-over-year[33] - The cash inflow from operating activities totaled 8,437,578.76 RMB in Q1 2021, a significant drop from 34,050,222.81 RMB in Q1 2020, highlighting a decline in operational performance[34] - The company reported a total cash outflow of 148,883,321.50 RMB from operating activities in Q1 2021, compared to 183,045,889.58 RMB in Q1 2020, showing improved cash management[32] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,132,193,593.43, a decrease of 3.99% from CNY 3,262,279,119.21 at the end of the previous year[7] - The company's total assets as of March 31, 2021, amounted to CNY 2,777,284,556.66, compared to CNY 2,854,403,463.22 at the end of 2020[22] - Total liabilities as of March 31, 2021, were CNY 30,221,727.09, significantly reduced from CNY 101,619,847.48 at the end of 2020[22] - The company's equity attributable to shareholders was CNY 2,747,062,829.57, slightly down from CNY 2,752,783,615.74 at the end of 2020[23] - Total liabilities amounted to CNY 216,337,788.75, with current liabilities at CNY 212,835,281.99[38] - Non-current liabilities totaled CNY 3,502,506.76, primarily consisting of deferred tax liabilities of CNY 3,502,506.76[38] - The company reported a decrease in retained earnings by CNY 749,680.97 compared to the previous period[39] Shareholder Information - The total number of shareholders at the end of the reporting period was 26,290[10] - The largest shareholder, China Cultural Industry Development Group Co., Ltd., held 110,216,220 shares, accounting for 24.66% of the total shares[10] Research and Development - Research and development expenses increased by 33.62% to RMB 16,726,109.56 from RMB 12,517,775.80 year-on-year[11] - Research and development expenses increased to CNY 16,726,109.56 in Q1 2021 from CNY 12,517,775.80 in Q1 2020, marking a rise of about 33.5%[26] Operational Efficiency - The company plans to focus on cost management and operational efficiency to improve profitability in the upcoming quarters[25] - The company reported a net profit margin decline due to increased sales and management expenses, with sales expenses at CNY 16,378,196.35 in Q1 2021[25] Other Financial Metrics - The company reported non-recurring gains and losses totaling CNY 799,148.90 for the period[9] - The company signed a total of 412 product contracts in the first quarter, with a total contract value of RMB 49 million[14] - The company implemented a new leasing standard effective January 1, 2021, impacting the financial statements[40] - The total equity after adjustments was CNY 2,752,783,615.74, reflecting a decrease due to the new leasing standard[44]