JOEONE(SH:601566)2020-04-23 16:00Financial Performance - Operating revenue decreased by 27.63% to CNY 57,942.72 million year-on-year[6] - Net profit attributable to shareholders decreased by 76.67% to CNY 6,313.38 million compared to the same period last year[6] - The weighted average return on equity decreased by 4.45 percentage points to 1.47%[6] - Basic earnings per share dropped by 76.60% to CNY 0.11 per share[6] - Total revenue for Q1 2020 was 57,311.79 million RMB, a decrease of 26.41% compared to 77,879.16 million RMB in Q1 2019[34] - The company reported a net profit of ¥594,942,994.05 for the first quarter of 2020, compared to ¥594,544,353.26 in the same period last year, showing a slight increase[43] - Net profit for Q1 2020 was approximately ¥62.10 million, a decline of 77.2% from ¥271.34 million in Q1 2019[45] - The company reported an operating profit of approximately ¥76.51 million in Q1 2020, down 78.4% from ¥354.89 million in Q1 2019[45] Assets and Liabilities - Total assets increased by 5.25% to CNY 611,224.47 million compared to the end of the previous year[6] - Current liabilities rose to ¥1,771,563,666.50, compared to ¥1,499,512,435.74, reflecting an increase of about 18.1%[39] - Total liabilities increased to ¥1,777,178,844.17 from ¥1,534,526,980.06, marking a growth of approximately 15.8%[39] - Owner's equity totaled ¥4,335,065,829.86, up from ¥4,272,666,157.90, indicating an increase of around 1.5%[40] - Total current assets amounted to CNY 2,365,618,919.58, a decrease of CNY 116,485,944.65 compared to the previous period[57] - Total liabilities reached 1,333,388,620.72, showing an increase of 70,938,303.72 compared to the prior period[61] Cash Flow - Net cash flow from operating activities increased by 5.51% to CNY 10,814.02 million[6] - The company reported a net cash outflow from operating activities of -CNY 198,109,729.86 in Q1 2020, contrasting with a net inflow of CNY 163,438,241.35 in Q1 2019[53] - The cash inflow from financing activities was CNY 218,195,058.70, significantly higher than CNY 24,674,434.75 in Q1 2019[51] - The net cash flow from financing activities increased to CNY 196,124,871.20 from CNY 1,689,819.75 in the previous year[51] Shareholder Information - The number of shareholders reached 19,610 by the end of the reporting period[10] - The largest shareholder, Jomoo International Investment Holdings, holds 53.73% of the shares[10] Investment Activities - The company has committed to invest CNY 990 million in the "Jinglin Jiusheng Internet Fashion Industry Fund," which focuses on internet fashion-related projects[18] - The company has invested a total of 120,357.12 million RMB in various financial products, with a total expected return of 369.54 million RMB[26] - The company has partially recovered 4.48 million RMB from a bank wealth management product with an annualized return of 3.00%[24] Revenue by Brand - JOEONE brand reported a revenue of 46,690.78 million RMB, down 30.77% year-over-year[30] - FUN brand's revenue increased by 12.96% to 6,960.13 million RMB, with a gross margin of 59.88%[30] - ZIOZIA brand's gross margin improved by 2.81% to 75.97%, despite a revenue decline of 3.82%[30] Store Operations - Total number of stores decreased from 2,932 in Q1 2019 to 2,897 in Q1 2020, a reduction of 1.19%[27] - The total number of direct-operated stores decreased from 766 to 758, while franchise stores decreased from 1,735 to 1,713[29] - The total area of stores decreased from 329,864 square meters at the end of 2019 to 325,262 square meters by March 31, 2020[29] Other Financial Metrics - Government subsidies related to normal business operations amounted to CNY 9,279.58 million[6] - Non-recurring gains and losses totaled CNY 21,396.04 million[8] - Financial expenses decreased by CNY 8.93 million, a reduction of 391.47%, mainly due to lower bond interest and increased financing subsidies compared to the same period last year[14] - Research and development expenses increased to approximately ¥8.13 million in Q1 2020, up 12.7% from ¥7.21 million in Q1 2019[44]