Phoenix Media(SH:601928)2020-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 2.09 billion, down 11.09% year-on-year[5] - Net profit attributable to shareholders of the listed company was CNY 261.70 million, a decrease of 18.75% compared to the same period last year[5] - Basic earnings per share were CNY 0.1028, representing an 18.80% decrease compared to the previous year[5] - The net cash flow from operating activities was CNY 441.67 million, down 36.72% year-on-year[5] - Total operating revenue for Q1 2020 was ¥2,089,556,341.27, a decrease of 11.1% compared to ¥2,350,113,236.61 in Q1 2019[23] - Net profit for Q1 2020 was ¥257,551,415.96, a decline of 20.8% from ¥325,256,496.48 in Q1 2019[24] - The net profit for Q1 2020 was ¥41,396,373.44, a decline of 26.6% from ¥56,404,458.31 in Q1 2019[27] - The total comprehensive income for Q1 2020 was ¥41,547,325.78, down 26.4% from ¥56,404,458.31 in Q1 2019[28] Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 23.71 billion, a decrease of 0.46% compared to the end of the previous year[5] - Total assets decreased slightly to ¥23,712,422,856.95 from ¥23,822,020,770.63, indicating stability in asset management[10] - Total liabilities decreased to ¥8,872,945,017.15 from ¥9,266,913,929.67, reflecting improved financial health[10] - Total liabilities increased to ¥9,673,565,946.09 as of March 31, 2020, compared to ¥9,555,136,902.57 at the end of 2019[20] - Total current liabilities include accounts payable of CNY 233,605,665.61[40] Shareholder Information - The total number of shareholders at the end of the reporting period was 56,652[8] - The largest shareholder, Jiangsu Phoenix Publishing & Media Group Co., Ltd., held 46.08% of the shares[8] - The total equity attributable to shareholders was ¥10,603,322,003.88 as of March 31, 2020, compared to ¥10,561,774,678.10 at the end of 2019[20] Cash Flow - The net cash flow from operating activities was ¥441,665,823.07, down 36.7% from ¥697,917,914.53 in the same period last year[30] - Cash inflow from investment activities was ¥22,431,761.41, a decrease of 93.5% compared to ¥345,169,609.49 in Q1 2019[30] - The company reported a net cash outflow from investment activities of ¥335,083,841.05, contrasting with a net inflow of ¥145,253,226.50 in the previous year[30] - Total cash and cash equivalents at the end of Q1 2020 amounted to ¥10,317,764,862.61, up from ¥9,900,198,774.80 at the end of Q1 2019[31] Expenses and Costs - Total operating costs for Q1 2020 were ¥1,803,960,979.97, down from ¥2,001,087,597.07 in Q1 2019, reflecting a reduction of 9.9%[23] - Research and development expenses increased by 97.50% to ¥10,344,405.39 from ¥5,237,601.99, indicating a focus on innovation[10] - The company incurred financial expenses of -¥51,635,298.77, slightly higher than -¥51,591,998.53 in the previous year[27] - The company reported a significant decrease in sales expenses to ¥242,520.34, down 66.4% from ¥721,763.95 in the previous year[27] Other Financial Metrics - Non-recurring gains and losses amounted to CNY 4.77 million for the reporting period[9] - Investment income decreased by 91.54% to ¥1,333,847.17 from ¥15,769,717.91, reflecting a decline in various investment returns[10] - Other comprehensive income rose by 137.37% to ¥47,444,513.86 from ¥19,987,365.76 due to changes in foreign currency translation and fair value of equity investments[10] - The company has not disclosed any new product developments or market expansion strategies in this report[5] Changes in Accounting Standards - The company has adopted new revenue and leasing standards starting from 2020, impacting the financial statements[32] - The company implemented the new revenue accounting standards starting January 1, 2020, affecting the recognition of contract liabilities[37] - The company recorded a contract liability of CNY 6,387,787.05, reflecting the adjustment due to the new revenue standards[40]