QJCT(SH:600706)2020-04-28 16:00Financial Performance - Operating revenue for the first quarter was RMB 164,506,399.32, a decrease of 48.15% year-on-year, primarily due to reduced ticket and travel agency income impacted by the pandemic[5] - Net profit attributable to shareholders was a loss of RMB 67,922,652.26, representing a decrease of 321.75% compared to the same period last year[5] - Basic and diluted earnings per share were both -0.32 RMB, a decline of 328.57% year-on-year[5] - Total operating revenue for Q1 2020 was CNY 164,506,399, down CNY 152,766,086, or 48.15% year-over-year, primarily due to the impact of the pandemic on ticket and travel agency revenues[14] - The company reported a net loss of CNY 68,340,060 for Q1 2020, a decrease of CNY 98,462,238, or 326.88% compared to a profit in the same period last year[14] - The net loss for Q1 2020 was ¥68,340,059.53, compared to a net profit of ¥30,122,178.91 in Q1 2019, indicating a significant decline in profitability[32] - The operating profit for Q1 2020 was a loss of ¥65,620,483.72, compared to a profit of ¥29,651,090.94 in Q1 2019[33] Cash Flow - The net cash flow from operating activities improved, with a net outflow of RMB 24,736,274.45, compared to a net outflow of RMB 38,511,154.35 in the same period last year[6] - The company’s cash flow statement showed significant changes, indicating potential liquidity challenges[15] - Cash outflow from operating activities totaled approximately $226.6 million in Q1 2020, a decrease of 37.56% compared to $362.8 million in Q1 2019, mainly due to lower costs associated with the pandemic[16] - The cash flow from operating activities showed a net outflow of ¥24,736,274.45 in Q1 2020, an improvement from a net outflow of ¥38,511,154.35 in Q1 2019[34] - The net cash flow from operating activities was approximately -$24.7 million in Q1 2020, an improvement of 35.8% compared to -$38.5 million in Q1 2019[16] - The cash and cash equivalents at the end of Q1 2020 were CNY 40,068,920.38, down from CNY 157,193,238.38 at the end of Q1 2019[35] Assets and Liabilities - Total assets at the end of the reporting period reached RMB 2,667,960,011.09, an increase of 0.85% compared to the end of the previous year[5] - As of March 31, 2020, the company's total assets amounted to approximately CNY 2.67 billion, a slight increase from CNY 2.65 billion at the end of 2019[27] - The company's total liabilities as of March 31, 2020, were approximately CNY 1.68 billion, compared to CNY 1.59 billion at the end of 2019, representing an increase of about 5.4%[28] - The company's total equity decreased to approximately CNY 990.30 million from CNY 1.06 billion, reflecting a decline of about 6.5%[28] - The company's accounts receivable increased to approximately CNY 568.49 million, up from CNY 555.41 million, indicating a rise of about 2.4%[27] Shareholder Information - The company had a total of 15,864 shareholders at the end of the reporting period[9] - The largest shareholder, Xi'an Qujiang Tourism Investment (Group) Co., Ltd., held 53.16% of the shares, totaling 114,511,121 shares[9] Government Support and Future Plans - Non-recurring gains and losses amounted to RMB 1,494,677.86, with government subsidies contributing RMB 260,073.99[7] - The company plans to focus on recovery strategies post-pandemic, including potential market expansion and new product development[14] - The company plans to actively apply for special funds to support the development of tourism enterprises in response to the pandemic[24] - The company announced plans to gradually resume operations following the pandemic, indicating a focus on recovery strategies[18] Financial Ratios and Metrics - The weighted average return on net assets decreased by 9.59 percentage points to -6.64%[5] - Financial expenses increased by CNY 2,906,176, or 55.27%, due to a larger borrowing scale compared to the same period last year[14] - The company's cash and cash equivalents decreased to approximately CNY 140.23 million from CNY 190.70 million at the end of 2019, reflecting a decline of about 26.4%[27]