SCS(SH:601555)2020-04-29 16:00Financial Performance - Operating income decreased by 16.65% to CNY 1.25 billion compared to the same period last year[4] - Net profit attributable to shareholders decreased by 39.43% to CNY 371.54 million compared to the same period last year[4] - Basic earnings per share decreased by 36.84% to CNY 0.12 compared to the same period last year[4] - Net profit attributable to shareholders of the parent company was ¥371,541,437.90, down from ¥613,361,741.98 in the same period last year, representing a decline of about 39.4%[20] - Total comprehensive income for Q1 2020 was ¥158,210,157.91, significantly lower than ¥970,161,859.80 in Q1 2019, reflecting a decline of approximately 83.7%[20] - Net profit for Q1 2020 was ¥375,547,995.12, a decrease of 38.9% from ¥614,279,023.98 in Q1 2019[19] Assets and Liabilities - Total assets increased by 8.10% to CNY 104.03 billion compared to the end of the previous year[4] - Total assets as of March 31, 2020, amounted to ¥90,555,127,981.09, an increase from ¥82,963,650,002.38 at the end of 2019[18] - The company’s total liabilities increased, with short-term financing payables rising to CNY 5,582,512,666.84, up from CNY 4,894,327,023.67[15] - Total liabilities reached ¥64,095,492,002.35 as of Q1 2020, compared to ¥62,437,961,218.19 in Q1 2019[18] - Total assets amounted to approximately $96.23 billion, with total liabilities at around $74.98 billion, resulting in total equity of about $21.26 billion[28] Cash Flow - Cash flow from operating activities decreased by 28.42% to CNY 3.88 billion compared to the same period last year[4] - Net cash inflow from operating activities was ¥10,822,507,402.08, down from ¥15,016,172,315.22 in the previous year, a decrease of about 27.8%[23] - The net cash flow from operating activities for Q1 2020 was ¥3,881,239,666.25, a decrease of 28.5% compared to ¥5,422,483,104.49 in Q1 2019[24] - The cash inflow from operating activities totaled ¥9,215,802,676.28, down from ¥13,289,558,138.01 in Q1 2019, representing a decline of 30.5%[25] Shareholder Information - The number of shareholders at the end of the reporting period was 114,565[6] - The largest shareholder, Suzhou International Development Group, holds 23.64% of the shares[6] - Shareholders' equity totaled ¥26,459,635,978.74 in Q1 2020, up from ¥20,525,688,784.19 in Q1 2019, reflecting a growth of 28.5%[18] Investment and Income - The net income from asset management business increased by 62.47% to CNY 43,827,806.77, driven by improved performance fees[10] - The company reported a significant increase in other income by 1282.77% to CNY 8,296,806.44, mainly due to government subsidies and tax refunds[10] - Investment income for Q1 2020 was ¥527,042,754.80, significantly higher than ¥284,249,260.43 in Q1 2019, marking an increase of 85.6%[19] - Net commission income increased to ¥573,847,837.89 in Q1 2020, compared to ¥432,497,371.79 in Q1 2019, representing a growth of 32.7%[19] Goodwill and Acquisitions - The company completed the acquisition of 100% equity in Zhongtou Securities (Hong Kong) Financial Holdings, resulting in a 121.33% increase in goodwill[8] - The company has a goodwill amounting to approximately $149.91 million, indicating potential value from acquisitions[28] Changes in Financial Metrics - Net interest income fell by 31.08% to CNY 47,002,202.63, primarily due to a decrease in interest income[10] - The fair value change income showed a loss of CNY 77,476,239.94, a significant decline compared to the previous year[10] - The company reported a credit impairment loss of ¥118,691,270.61 in Q1 2020, significantly higher than ¥9,643,577.69 in Q1 2019[19] - The company reported a net loss from fair value changes of financial assets of ¥31,069,583.43, a stark contrast to the gain of ¥526,258,507.57 in the same quarter last year[21]