SXN(SH:600661)2020-04-29 16:00Financial Performance - Operating revenue fell by 27.76% to CNY 392,898,049.44 year-on-year due to the impact of the pandemic[9] - Net profit attributable to shareholders decreased by 165.87% to a loss of CNY 18,158,271.00 compared to the same period last year[9] - Basic earnings per share dropped by 165.9% to -CNY 0.0634[9] - The company's operating revenue for the first quarter of 2020 was 39,289.80 million RMB, a decrease of 27.76% compared to the previous year, primarily due to the impact of the COVID-19 pandemic on offline teaching[23] - Net profit for Q1 2020 was a loss of ¥32,326,019.45, compared to a profit of ¥17,839,898.16 in Q1 2019, indicating a significant decline[45] - Total revenue for Q1 2020 was ¥392,898,049.44, a decrease of 27.7% compared to ¥543,862,096.15 in Q1 2019[44] - Total operating costs for Q1 2020 were ¥475,704,105.82, down from ¥532,541,325.92 in Q1 2019, reflecting a reduction of 10.6%[44] - The total comprehensive income for Q1 2020 was -760,365.34 RMB, compared to -3,952,995.13 RMB in Q1 2019, showing an improvement in comprehensive loss by approximately 80.8%[50] Cash Flow and Liquidity - Net cash flow from operating activities improved by 26.26% to a negative CNY 198,691,983.61, reflecting cost control measures[10] - The net cash flow from operating activities was -198,691,983.61 RMB in Q1 2020, an improvement from -269,447,102.83 RMB in Q1 2019, showing a reduction in cash outflow by approximately 26.2%[54] - The company’s cash inflow from financing activities was 20,932,465.25 RMB in Q1 2020, a turnaround from a cash outflow of -74,086,652.31 RMB in Q1 2019[54] - The company maintained a strong liquidity position with a net increase in cash and cash equivalents of approximately ¥268.00 million during the quarter[57] - The company reported a net cash flow from investment activities of 21,192.00 million RMB, an increase of 32.40% compared to the previous year[24] - The company’s total operating cash outflow was 550,854,068.07 RMB in Q1 2020, down from 707,519,832.29 RMB in Q1 2019, indicating a decrease of about 22.1%[54] Assets and Liabilities - Total assets decreased by 9.22% to CNY 2,461,396,984.79 compared to the end of the previous year[8] - As of March 31, 2020, total assets amounted to approximately 2.46 billion RMB, down from 2.71 billion RMB at the end of 2019[34] - Current liabilities totaled approximately 1.47 billion RMB, a decrease from 1.69 billion RMB at the end of 2019[35] - Total liabilities rose to ¥1,103,161,553.20 in Q1 2020, compared to ¥966,532,961.50 in Q1 2019, marking an increase of 14.1%[40] - The total current liabilities were approximately ¥1.69 billion, with accounts payable amounting to ¥103.50 million[61] Shareholder Information - As of March 31, 2020, the largest shareholder, Jiaoda Industrial Group, and its action-in-concert entity held 54,731,463 shares, accounting for 19.10% of the total share capital[17] - Longjia Investment and its action-in-concert entities held 49,272,004 shares, representing 17.19% of the total share capital as of March 31, 2020[18] - As of March 31, 2020, the total shares held by Zhongjin Group and its action-in-concert entities amounted to 65,164,419 shares, representing 22.74% of the total share capital[19] Strategic Initiatives - The company accelerated the transition to online education, which helped stabilize operations during the pandemic[10] - The company reported a significant increase in online teaching investment and promotion efforts to adapt to the changing market conditions[10] - The company is actively seeking rent reductions and deferred payment policies to manage fixed costs during the pandemic[10] - The company is focusing on integrating internal resources, controlling costs, and enhancing online teaching platforms to mitigate pandemic impacts[27] - The company plans to adjust the acquisition of shares in CDL Company and establish a new joint venture for further cooperation[26] Government Support - The company received government subsidies amounting to 1,441.99 million RMB, an increase of 107.41% compared to the previous year[23] Research and Development - Research and development expenses for Q1 2020 were ¥4,120,439.26, an increase from ¥3,638,629.82 in Q1 2019, indicating a focus on innovation[44]