BAIDA GROUP(SH:600865)2020-04-28 16:00Financial Performance - Operating revenue fell by 26.41% to CNY 165,384,691.57 year-on-year[5] - Net profit attributable to shareholders decreased by 113.17% to a loss of CNY 7,476,826.77[5] - The company's operating revenue for Q1 2020 was ¥165.38 million, a decrease of 26.41% compared to ¥224.73 million in the same period last year, primarily due to the impact of the COVID-19 pandemic on the operations of its subsidiary, Hangzhou Department Store[13] - The net profit for Q1 2020 was a loss of ¥7.48 million, a significant decline of 113.17% from a profit of ¥56.75 million in the same period last year, largely due to substantial decreases in fair value gains from stock holdings[13][14] - Total operating revenue for Q1 2020 was ¥165,384,691.57, a decrease of 26.4% compared to ¥224,730,021.61 in Q1 2019[42] - Net profit for Q1 2020 was a loss of ¥7,476,826.77, compared to a profit of ¥56,754,307.33 in Q1 2019, representing a significant decline[43] - Basic and diluted earnings per share for Q1 2020 were both -¥0.020, compared to ¥0.151 in Q1 2019[43] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 37,400,650.33, compared to a net inflow of CNY -217,522.04 in the previous year[5] - The net cash flow from operating activities was negative CNY 37,400,650.33 in Q1 2020, compared to negative CNY 217,522.04 in Q1 2019[48] - Cash inflow from operating activities was CNY 183,107,652.64 in Q1 2020, compared to CNY 265,201,172.90 in Q1 2019, marking a decline of about 30.9%[50] - Cash outflow from investing activities totaled CNY 474,936,163.00 in Q1 2020, a decrease from CNY 721,787,017.99 in Q1 2019, indicating a reduction of about 34.3%[48] - Net cash flow from investing activities was negative CNY 52,885,866.93 in Q1 2020, compared to positive CNY 77,431,620.38 in Q1 2019[48] Assets and Liabilities - Total assets decreased by 3.73% to CNY 2,171,063,568.57 compared to the end of the previous year[5] - Total liabilities decreased from ¥354,924,139.97 in December 2019 to ¥278,367,591.07 in March 2020, a decrease of approximately 21.56%[36] - Current liabilities decreased from ¥267,514,563.53 in December 2019 to ¥204,117,263.48 in March 2020, a reduction of about 23.69%[35] - The company reported a total of 984,838,419.36 RMB in current assets as of March 31, 2020, a decrease from 1,107,457,155.99 RMB at the end of 2019[33] - The company's cash and cash equivalents amounted to 223,545,868.74 RMB, down from 313,832,386.00 RMB in December 2019[33] Shareholder Information - The number of shareholders reached 24,654 at the end of the reporting period[10] - The largest shareholder, Xizi International Holdings, holds 32.00% of the shares[10] Inventory and Accounts - Inventory increased significantly by 653.93% to CNY 2,927,571.05[11] - Accounts payable decreased by 42.92% to CNY 56,620,988.86[11] - The company’s accounts receivable decreased due to a reduction in balances at its subsidiary, Hangzhou Department Store[12] - The company’s inventory increased, primarily due to a rise in stock at Hangzhou Department Store[12] Investment Activities - The company reported an increase in investment income to ¥11.35 million, compared to a loss of ¥0.58 million in the same period last year, attributed to an increase in the scale of entrusted financial management[14] - The company purchased entrusted financial products totaling ¥287 million during the reporting period, generating a return of ¥7.17 million, with no overdue or loss incidents reported as of March 31, 2020[22] - The company has a plan for future entrusted wealth management investments, indicating ongoing investment strategies[25] Accounting Standards - The company executed the new revenue accounting standards starting January 1, 2020, impacting the financial reporting framework[55] - The company adopted new revenue accounting standards effective January 1, 2020, which may impact future financial reporting[58]