Ribo Fashion(SH:603196)2020-04-27 16:00Financial Performance - Operating revenue for the first quarter was CNY 162.17 million, representing a decline of 44.32% year-on-year due to the impact of the COVID-19 pandemic[7]. - The net profit attributable to shareholders of the listed company was a loss of CNY 16.46 million, compared to a profit of CNY 4.67 million in the same period last year[5]. - Basic and diluted earnings per share were both -CNY 0.0686, compared to CNY 0.0194 in the same period last year[5]. - The company reported a net profit of CNY 314,652,490.15 for the first quarter of 2020, compared to CNY 306,808,343.19 in the same period of the previous year, reflecting a growth of approximately 2.8%[23]. - Net profit for Q1 2020 was a loss of ¥19.25 million, compared to a profit of ¥2.27 million in Q1 2019, representing a significant decline[25]. - The total comprehensive income for Q1 2020 was a loss of ¥18.97 million, compared to a gain of ¥1.41 million in Q1 2019[26]. Cash Flow - Cash flow from operating activities increased by 71.51% year-on-year, amounting to CNY 15.43 million, primarily due to timing differences in payments during the pandemic[5][7]. - Cash inflow from operating activities for Q1 2020 was CNY 172,726,997.68, a decrease from CNY 346,873,352.43 in Q1 2019, representing a decline of approximately 50%[30]. - The net cash flow from operating activities was CNY 15,427,546.21 in Q1 2020, an increase from CNY 8,995,111.60 in Q1 2019, representing a growth of approximately 72%[30]. - Cash inflow from sales of goods and services was CNY 170,260,870.04 in Q1 2020, compared to CNY 340,641,994.48 in Q1 2019, showing a decline of about 50%[30]. - Cash outflow for purchasing goods and services was CNY 54,729,268.71 in Q1 2020, down from CNY 173,425,063.19 in Q1 2019, indicating a reduction of about 68%[30]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 1.11 billion, a decrease of 2.66% compared to the end of the previous year[5]. - Total liabilities decreased to CNY 228,441,116.36 from CNY 239,752,418.62, reflecting a reduction of about 4.4%[20]. - Current assets totaled CNY 684,990,901.21, down from CNY 718,983,185.04, indicating a decrease of approximately 4.7%[19]. - The company's equity attributable to shareholders decreased to CNY 906,351,295.40 from CNY 922,525,741.06, a decline of about 1.8%[20]. - Total liabilities amounted to ¥167,815,704.67, with non-current liabilities at ¥30,053,716.67[42]. Shareholder Information - The total number of shareholders at the end of the reporting period was 16,418[11]. - The largest shareholder, Shanghai Ribo Investment Holding Co., Ltd., held 54% of the shares, with 129.6 million shares pledged[11]. Revenue Recognition and Accounting Changes - The company reported a 100% decrease in advance receipts, down to zero from ¥10,178,992.18, due to the implementation of new revenue recognition standards[13]. - Contract liabilities increased by 100% to ¥14,641,389.78, reflecting the impact of new revenue recognition standards[14]. - Other current assets increased by 100% to ¥17,664,049.54, attributed to the reclassification under new revenue recognition standards[13]. - The new revenue recognition standard was applied, affecting the classification of accounts receivable and contract liabilities[43]. Operating Costs and Expenses - Operating revenue fell by 44.32% to ¥162,170,773.86 from ¥291,273,615.72, significantly impacted by the pandemic[14]. - Operating costs decreased by 42.66% to ¥64,475,217.19 from ¥112,452,479.66, reflecting the decline in sales due to the pandemic[14]. - Research and development expenses decreased by 35.57% to ¥6,505,944.94 from ¥10,096,959.97, also influenced by the pandemic[14]. - The company reported a significant increase in operating expenses, with a rise of 694.58% in other expenses, mainly due to increased donations related to the Wuhan pandemic[14].