DFSS(SH:603377)2020-04-29 16:00Financial Performance - Operating revenue fell by 68.16% to CNY 64,120,587.03 year-on-year[5] - Net profit attributable to shareholders was CNY -44,672,876.62, a decrease of 253.87% compared to the same period last year[5] - Basic earnings per share were CNY -0.08, down 260.00% from CNY 0.05 in the previous year[5] - The weighted average return on net assets decreased by 4.21 percentage points to -2.56%[5] - The net profit for Q1 2020 was a loss of ¥46,944,057.03, compared to a net profit of ¥28,846,564.44 in Q1 2019, indicating a shift of over 263% into loss[47] - Total operating revenue for Q1 2020 was ¥64,120,587.03, a significant decrease from ¥201,400,165.06 in Q1 2019, representing a decline of approximately 68.15%[46] - Total operating costs for Q1 2020 were ¥145,124,968.54, down from ¥194,830,484.27 in Q1 2019, a reduction of about 25.5%[46] - Operating profit for Q1 2020 was a loss of ¥73,592,268.81, compared to a profit of ¥6,363,289.49 in Q1 2019, marking a decline of over 1,200%[46] Cash Flow and Assets - Net cash flow from operating activities was CNY -59,886,922.59, a decline of 139.34% year-on-year[5] - The company's total assets decreased significantly, with cash and cash equivalents dropping by 49.59% to RMB 185,525,263.53 from RMB 368,017,574.59 at the beginning of the year, due to reduced cash inflow[15] - Cash and cash equivalents decreased significantly from ¥192,347,940.44 to ¥60,301,698.64, a drop of about 68.7%[40] - The total cash and cash equivalents at the end of Q1 2020 were CNY 185,851,750.59, a decrease from CNY 408,058,383.40 at the end of Q1 2019[53] - The company reported a significant decrease in cash inflow from sales of goods and services, which was CNY 64,355,630.10 in Q1 2020, down 80.4% from CNY 327,410,337.09 in Q1 2019[52] Shareholder Information - The company had a total of 7,986 shareholders at the end of the reporting period[11] - The largest shareholder, Dongfang Shifang Investment Co., Ltd., held 45.5% of shares, totaling 267,801,250 shares[11] - The second-largest shareholder, Xuyong, held 7.05% of shares, totaling 41,440,000 shares[11] Liabilities and Equity - The total liabilities decreased from ¥2,307,877,167.88 to ¥2,099,550,567.38, reflecting a reduction of about 9.0%[39] - The total equity attributable to shareholders decreased from ¥1,764,125,349.24 to ¥1,719,452,472.62, indicating a decline of approximately 2.5%[39] - The retained earnings decreased from ¥1,020,524,074.03 to ¥995,439,756.22, a decline of approximately 2.5%[42] Legal and Compensation Matters - The company is currently involved in a pending lawsuit related to a guarantee provided for a loan, which may have financial implications, but the original shareholders have committed to compensating for any losses incurred[24] - The company signed a pledge agreement involving 4,245,374 shares to secure compensation obligations related to a lawsuit, with the shares pledged to the controlling shareholder, Dongfang Shishang Investment Co., Ltd.[25] - The original shareholders of Jingzhou Dongfang Shishang have committed to a total performance compensation of RMB 110.99 million, with RMB 40 million due by March 31, 2020, and the remainder by December 31, 2021[29] Investment and Asset Management - The company reported non-recurring gains and losses totaling CNY 16,222,746.55[9] - The company’s investment income increased to RMB 6,312,173.70 from a loss of RMB 168,149.73 in the previous year, attributed to the disposal of equity in Jinzhong Real Estate Company[18] - The company is currently undergoing a significant asset transfer process, with a valuation of RMB 62.57 million for the investment facilities at the Shijiazhuang testing site[30] - The company has completed a capital increase for Dongfang Shishang (Xihua) Airport Co., Ltd., with total contributions of RMB 22 million, resulting in a shareholding structure of 51% for Dongfang Shishang International Aviation Development Co., Ltd.[32] Future Outlook - The company anticipates potential significant changes in cumulative net profit due to uncertainties arising from the COVID-19 pandemic, urging investors to monitor future announcements[33] - The company has not recognized any expected liabilities related to the lawsuit, as it believes the litigation will not negatively impact current or future profits[26]