GZCBN(SH:600996)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 274.40% to CNY 55,680,115.99 compared to the same period last year[8] - Operating revenue decreased by 14.23% to CNY 638,415,690.68 compared to the same period last year[8] - Basic earnings per share decreased by 280% to CNY 0.05[8] - Operating revenue for Q1 2020 was ¥547,548,183.17, a decline of 14.23% compared to ¥638,415,690.68 in Q1 2019, primarily due to the impact of the COVID-19 pandemic[12] - Net profit for Q1 2020 was a loss of ¥97,707,774.39, representing a decrease of 279.12% compared to a profit of ¥54,548,701.98 in the same period last year[12] - The company's gross profit margin decreased to -17.4% in Q1 2020 from 8.6% in Q1 2019[22] - The total profit for Q1 2020 was a loss of ¥97.71 million, contrasting with a profit of ¥54.49 million in Q1 2019[22] - The total comprehensive income for Q1 2020 was -95,581,382.17 CNY, compared to 57,502,713.02 CNY in Q1 2019[28] Cash Flow and Liquidity - Net cash flow from operating activities was negative at CNY -27,378,573.88[8] - The net cash flow from operating activities improved to ¥54,789,503.78, compared to a negative cash flow of ¥27,378,573.88 in Q1 2019[12] - Cash inflow from operating activities was 571,631,292.17 CNY, a decrease from 586,137,482.83 CNY in the same period last year[28] - Cash outflow for purchasing goods and services was 92,619,675.97 CNY, down from 166,178,911.73 CNY year-over-year[28] - Cash outflow for employee payments was 304,304,995.71 CNY, compared to 324,573,578.29 CNY in Q1 2019[28] - Net cash flow from investing activities was -459,646,209.55 CNY, an improvement from -910,395,038.55 CNY in the previous year[29] - The ending cash and cash equivalents balance was 838,626,287.14 CNY, down from 2,852,388,699.29 CNY at the end of Q1 2019[29] Assets and Liabilities - Total assets decreased by 2.58% to CNY 15,086,813,870.65 compared to the end of the previous year[8] - The total assets as of March 31, 2020, amounted to ¥14,697,708,479.93, down from ¥15,086,813,870.65 at the end of 2019[16] - Total liabilities decreased from CNY 10,244,103,965.99 to CNY 9,965,239,389.74, reflecting a decline of around 2.7%[20] - Long-term borrowings increased from CNY 2,253,579,600.00 to CNY 2,364,571,000.00, an increase of approximately 4.4%[20] - The company's equity attributable to shareholders decreased from CNY 4,734,506,539.41 to CNY 4,638,958,337.05, a decline of about 2.0%[20] - Current assets decreased from CNY 4,889,264,967.90 to CNY 4,503,980,005.38, a reduction of about 7.9%[19] - Cash and cash equivalents dropped significantly from CNY 1,200,230,929.30 to CNY 714,004,618.34, a decrease of approximately 40.4%[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 47,483[10] - The largest shareholder, Guizhou Broadcasting Film and Television Investment Co., Ltd., holds 42.15% of the shares[10] Operational Insights - The company has not disclosed any new product developments or market expansion strategies in this report[8] - The company anticipates potential losses for the year, influenced by ongoing challenges related to the COVID-19 pandemic[12] - The company reported a significant increase in contract assets, totaling RMB 1,479,712,578.79[32] - The company has implemented new revenue and leasing standards starting from 2020, affecting financial reporting[32] Expenses - Financial expenses increased by 33.31% to ¥51,074,562.56, attributed mainly to increased borrowing costs[12] - Total operating costs increased to ¥645.18 million, up 11.5% from ¥578.67 million in Q1 2019[22] - Research and development expenses were ¥27.39 million, down 14.5% from ¥32.04 million in Q1 2019[22] - Financial expenses rose to ¥51.07 million, an increase of 33.3% compared to ¥38.31 million in Q1 2019[22]