JOEONE(SH:601566)2019-04-24 16:00Financial Performance - Net profit attributable to shareholders rose by 40.12% to CNY 27,061.52 million year-on-year[6]. - Operating revenue grew by 7.20% to CNY 80,066.53 million compared to the same period last year[6]. - Basic earnings per share increased by 38.24% to CNY 0.47 per share[6]. - Total revenue for Q1 2019 reached 77,879.16 million RMB, a year-on-year increase of 5.33%[42]. - The company reported a significant increase in investment income for Q1 2019, totaling CNY 202,535,659.54, compared to CNY 14,783,400.56 in Q1 2018[54]. - Net profit for Q1 2019 was CNY 354,497,612.33, an increase from CNY 246,347,968.65 in Q1 2018, representing a growth of 43.9%[54]. - The total comprehensive income for Q1 2019 was CNY 267.71 million, compared to a loss of CNY 43.74 million in Q1 2018[55]. Cash Flow - The net cash flow from operating activities decreased by 52.32% to CNY 10,249.19 million compared to the previous year[6]. - Net cash flow from operating activities decreased by 112.4825 million RMB, a decline of 52.32%, mainly due to increased payments for goods and expenses during the reporting period[18]. - Cash inflow from operating activities in Q1 2019 was CNY 917.81 million, slightly higher than CNY 905.11 million in Q1 2018, marking an increase of 1.9%[59]. - The net cash flow from operating activities for Q1 2019 was ¥102,491,900.33, a decrease of 52.4% compared to ¥214,974,396.03 in Q1 2018[60]. - The total cash inflow from operating activities was ¥763,365,164.03, down 7.6% from ¥826,416,478.18 in Q1 2018[63]. Assets and Liabilities - Total assets increased by 2.24% to CNY 622,357.88 million compared to the end of the previous year[6]. - Total assets as of March 31, 2019, amounted to 6,223,578,819.89 RMB, compared to 6,087,507,530.34 RMB at the end of 2018[46]. - Total liabilities as of March 31, 2019, were CNY 1,488,067,895.19, a slight decrease from CNY 1,507,685,185.33 at the end of 2018[51]. - Total liabilities reached approximately $1.51 billion, with current liabilities accounting for about $1.47 billion[73]. - Shareholders' equity as of March 31, 2019, was CNY 4,188,576,303.37, compared to CNY 4,067,564,665.12 at the end of 2018, indicating an increase of 3.0%[51]. Investments - The company plans to invest 765 million RMB in a joint venture with Kitsune France to operate the "Maison Kitsune" brand in China, Hong Kong, and Macau[24]. - The company has invested 1.3584 million RMB in Han Du Yi She E-Commerce Group, holding 7.82% of its total shares[19]. - The company has established a new cultural industry investment fund with a total scale of 510 million RMB, focusing on investments in new cultural fashion-related enterprises[20]. - The company has invested a total of 20,000.00 million RMB in fixed income products with an annualized return of 5.20%, expecting a return of 1,040.00 million RMB, which has not yet been recovered[29]. - The total amount of financial products managed by various banks and securities firms reached 176,221.24 million RMB, generating a total income of 532.74 million RMB[32]. Sales and Revenue Breakdown - Online sales accounted for 8.61% of total revenue, generating 6,705.33 million RMB with a gross margin of 58.80%[40]. - Offline sales contributed 91.39% of total revenue, amounting to 71,173.83 million RMB with a gross margin of 57.49%[40]. - Direct stores generated 30,837.01 million RMB in revenue with a gross margin of 64.00%, while franchise stores brought in 38,682.41 million RMB with a gross margin of 52.71%[38]. - Revenue from East China region was 31,138.96 million RMB, accounting for 39.98% of total revenue, with a year-on-year growth of 9.71%[41]. Expenses - The financial expenses increased to CNY 2.76 million in Q1 2019 from CNY 1.79 million in Q1 2018, an increase of 54.4%[57]. - Research and development expenses for Q1 2019 were CNY 5.80 million, up from CNY 5.15 million in Q1 2018, representing an increase of 12.7%[57]. - The company reported a decrease in sales expenses to CNY 116.49 million in Q1 2019 from CNY 110.71 million in Q1 2018, a reduction of 5.0%[57]. Store Operations - The total number of physical stores decreased from 2,774 at the end of 2018 to 2,760 by March 31, 2019, with a net closure of 47 stores[35]. - The total area of physical stores increased from 287,697 square meters at the end of 2018 to 290,961 square meters by March 31, 2019[36]. - The total number of new stores opened in the first quarter of 2019 was 47, while 61 stores were closed[35].