TIBET TOURISM(SH:600749)2020-04-17 16:00Financial Performance - Operating revenue for the period was CNY 5,476,412.48, representing a decline of 64.38% year-on-year from CNY 15,375,666.16[7] - Net profit attributable to shareholders was a loss of CNY 18,684,889.53, worsening from a loss of CNY 7,617,882.53 in the same period last year[7] - Basic earnings per share were CNY -0.0831, compared to CNY -0.0336 in the same period last year[7] - The weighted average return on net assets was -1.7866%, down from -0.7245% year-on-year[7] - The company reported a net loss of CNY 149,790,707.91 as of March 31, 2020, compared to a net loss of CNY 131,105,539.14 at the end of 2019, indicating a worsening of approximately 14.3%[25] - Net loss for Q1 2020 was CNY 19,631,589.23, compared to a net loss of CNY 8,757,855.56 in Q1 2019, representing an increase in loss of 123.5%[31] - The total comprehensive loss for Q1 2020 was CNY 14,569,807.30, compared to a loss of CNY 2,122,716.70 in Q1 2019[35] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,337,874,107.58, an increase of 1.31% compared to the end of the previous year[7] - Current assets totaled CNY 600,469,789.75, up from CNY 587,877,895.56 at the end of 2019, reflecting a growth of approximately 1.5%[23] - The total liabilities increased to CNY 307,985,404.35 from CNY 266,349,377.21, reflecting an increase of about 15.7%[25] - Total liabilities as of Q1 2020 amounted to CNY 265,242,755.23, an increase from CNY 235,960,785.98 in the previous year[30] - The total current liabilities of CNY 288,290,237.73, an increase from CNY 246,622,960.58, representing a growth of about 16.9%[24] - Short-term borrowings increased significantly to CNY 142,593,749.00 from CNY 93,634,614.65, representing a rise of approximately 52.2%[24] Cash Flow - Net cash flow from operating activities was negative at CNY -10,216,431.98, a decline of 241.78% compared to CNY 7,205,748.69 in the previous year[7] - The company generated CNY 10,287,751.11 in cash inflows from operating activities in Q1 2020, a decrease of 64.5% compared to CNY 28,965,168.28 in Q1 2019[37] - Cash outflows from operating activities totaled CNY 20,504,183.09 in Q1 2020, slightly lower than CNY 21,759,419.59 in Q1 2019[37] - The company raised CNY 48,959,134.35 through financing activities in Q1 2020, a significant increase from CNY 2,000,000.00 in Q1 2019[38] - The cash flow from financing activities generated a net cash inflow of 45,112,805.11 CNY, with cash received from borrowings amounting to 48,959,134.35 CNY[41] Shareholder Information - The total number of shareholders at the end of the reporting period was 19,899[10] - The largest shareholder, Guofeng Group Co., Ltd., held 29,921,325 shares, accounting for 13.18% of total shares[10] - The company repurchased 2,395,000 shares, accounting for 1.06% of the total share capital, with a total payment of RMB 23,643,586.01[16] Operational Insights - The company anticipates a potential net profit loss for the first half of 2020 due to the impact of the pandemic[19] - The company is exploring online platforms like "Cloud Spring Tour" to enhance marketing and product innovation[18] - The company is focusing on the recovery of visitor numbers and sales revenue as operations resume post-pandemic[19] Expense Management - The company experienced a 91.52% decrease in taxes and surcharges, dropping to RMB 9,948.62 from RMB 117,349.81[13] - The company reported a 74.73% reduction in selling expenses, which fell to RMB 1,398,593.32 from RMB 5,534,601.67[13] - The company reported a significant increase in financial expenses, with interest expenses rising to CNY 1,647,272.45 in Q1 2020 from CNY 780,500.72 in Q1 2019[30] Investment Activities - The company’s cash paid for the acquisition of fixed assets decreased by 24.74% to RMB 25,855,640.70 from RMB 34,353,475.19[13] - Investment activities resulted in a net cash outflow of CNY 27,355,640.70 in Q1 2020, compared to a net inflow of CNY 400,830,758.51 in Q1 2019[38]