TIBET TOURISM(SH:600749)2023-07-16 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 25,387,253.27, representing a year-on-year increase of 139.69%[5] - The net profit attributable to shareholders was a loss of CNY 8,639,421.33, with a basic and diluted earnings per share of -0.0389 yuan[5] - The company reported a net loss of RMB 172,494,392.98 in retained earnings as of March 31, 2023, worsening from a loss of RMB 163,854,971.65 at the end of 2022[16] - The net loss for Q1 2023 was CNY 8,978,255.08, an improvement compared to a net loss of CNY 23,450,918.24 in Q1 2022, reflecting a reduction in losses by approximately 61.7%[19] - The company achieved a gross profit margin of approximately 12.1% in Q1 2023, compared to a gross profit margin of 0.8% in Q1 2022, indicating improved profitability[18] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,370,791,999.17, an increase of 0.54% compared to the end of the previous year[6] - The equity attributable to shareholders decreased by 0.77% to CNY 988,280,224.19[6] - The company's non-current assets totaled RMB 730,947,454.11, down from RMB 776,770,147.57 at the end of 2022, reflecting a decrease of approximately 5.9%[15] - The total current liabilities rose to RMB 264,681,800.27, compared to RMB 249,267,100.92 at the end of 2022, indicating an increase of approximately 6.5%[15] - The company's short-term borrowings increased significantly to RMB 80,081,527.78 from RMB 40,000,000.00, marking a 100.2% increase[15] Cash Flow - The net cash flow from operating activities was a negative CNY 27,177,988.00, impacted by the payment of previous years' liabilities totaling CNY 20,510,000[6] - Cash flow from operating activities showed a net outflow of CNY 27,177,988.00 in Q1 2023, an improvement from a net outflow of CNY 32,018,403.84 in Q1 2022[20] - Cash flow from investing activities resulted in a net outflow of CNY 2,749,102.74 in Q1 2023, compared to a net outflow of CNY 18,591,682.55 in Q1 2022, indicating a significant reduction in investment losses[21] - Cash flow from financing activities generated a net inflow of CNY 76,527,850.04 in Q1 2023, contrasting with a net outflow of CNY 83,667,590.17 in Q1 2022, showing a turnaround in financing activities[21] - The total cash and cash equivalents at the end of Q1 2023 amounted to CNY 420,829,449.28, an increase from CNY 386,597,771.47 at the end of Q1 2022[21] Expenses and Costs - The company reported a significant increase in tax expenses by 328.34% due to the rise in operating revenue[8] - Financial expenses rose by 150.14% due to a decrease in interest income during the period[8] - Total operating costs for Q1 2023 were CNY 35,804,635.96, slightly up from CNY 35,369,549.98 in Q1 2022, indicating a marginal increase of about 1.2%[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,668[9] - The company has adjusted its share repurchase plan to support the employee stock ownership plan, with 4,770,000 shares repurchased, accounting for 2.10% of the total share capital[14] Strategic Plans - The company aims to enhance its product system and deepen market channels to ensure steady recovery of annual operating performance[12] - The company plans to continue leveraging marketing strategies and product offerings to expand its market presence and profitability[12] - The company plans to continue focusing on market expansion and new product development to enhance future performance[22] - The company achieved a reduction in losses by approximately 62% due to improved management mechanisms despite the net loss[8] Tourism and Market Recovery - The core scenic area visitor reception has nearly recovered to the levels seen in the same period of 2019, indicating a positive trend in tourism recovery[12]