LGWH(SH:601599)2019-04-26 16:00Financial Performance - Operating revenue for the current period was CNY 759,769,168.40, representing a growth of 6.01% year-on-year[6] - Net profit attributable to shareholders of the listed company was CNY 5,539,765.71, down 67.63% compared to the same period last year[6] - Total profit decreased by 45.02% to RMB 15,341,237 compared to RMB 27,905,333 in the same period last year, primarily due to reduced earnings in the film sector[12] - Basic earnings per share decreased by 50% to CNY 0.01 from CNY 0.02 in the same period last year[6] - The weighted average return on equity dropped by 32 percentage points to 0.35%[6] - The company reported a net loss of -7,324,923.54 CNY, which is an improvement of approximately 46.8% compared to -13,765,151.96 CNY in Q1 2018[30] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 10,452,702.02, a decline of 113.79% compared to the previous year[6] - Net cash flow from operating activities decreased by 113.79% to -RMB 10,452,702, primarily due to an increase in receivables[12] - Cash inflows from operating activities totaled 705,335,112.50 CNY, down from 981,847,146.73 CNY in Q1 2018, representing a decline of about 28.1%[33] - The net cash flow from operating activities for Q1 2019 was ¥18,174,753.38, a significant improvement compared to a net outflow of ¥138,791,636.22 in Q1 2018[35] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,522,568,254.15, a decrease of 2.47% compared to the end of the previous year[6] - Total assets decreased from RMB 6,687,517,682.88 to RMB 6,522,568,254.15, indicating a reduction in overall asset value[18] - Current liabilities decreased from RMB 3,647,338,622.33 to RMB 3,489,688,432.57, showing a reduction in short-term obligations[18] - Total liabilities reached CNY 4,058,393,644.92, with non-current liabilities at CNY 411,055,022.59[39] Shareholder Information - The total number of shareholders at the end of the reporting period was 37,205[11] - The largest shareholder, Qian Wenlong, holds 13.32% of the shares, with 118,923,722 shares pledged[11] Income and Expenses - The company reported non-operating income of CNY 3,409,775.11 from non-recurring gains and losses[9] - Tax and additional charges increased by 185.16% to RMB 7,051,443, attributed to an increase in export tax exemptions[12] - Other income rose by 63.14% to RMB 6,230,365, mainly from government subsidies[12] - Investment income fell by 49.29% to RMB 2,437,260, due to decreased financial management returns[12] Financial Reporting Changes - The company adjusted its financial statements for the first quarter of 2019 due to the implementation of new financial standards, impacting various asset classifications[45] - The company transitioned to an expected loss model for impairment provisions, moving away from the incurred loss model[45] - The adjustments made were in accordance with the revised accounting standards issued by the Ministry of Finance in 2017[45] - The company has made significant changes to its financial reporting practices in line with new regulations[45] - The company did not apply retrospective adjustments to prior comparative data for the first-time adoption of the new financial instrument standards[45] Other Financial Metrics - Cash paid for investment activities increased by 2823.78% to RMB 39,893,296, reflecting a rise in financial product purchases[13] - The company reported a significant increase in minority shareholder profit by 643.10% to RMB 3,594,758, due to increased profits from subsidiaries[12] - Cash received from tax refunds decreased by 74.65% to RMB 6,360,298, indicating a decline in tax recovery[12]