Guirenniao(SH:603555)2020-04-29 16:00Financial Performance - Operating revenue fell by 66.92% to CNY 172,608,126.29 compared to the same period last year[5]. - Net profit attributable to shareholders was a loss of CNY 200,915,899.51, a decrease of 1,543.56% compared to the same period last year[5]. - Basic earnings per share decreased by 1,700% to CNY -0.32 compared to the same period last year[5]. - The net profit for the current period is -¥200,742,245.20, a significant decline of 1,561.15% from a profit of ¥13,738,606.50 in the previous year[12]. - The net loss for Q1 2020 was ¥205,735,071.92, compared to a net profit of ¥21,225,216.57 in Q1 2019, indicating a significant decline in profitability[42]. Cash Flow and Liquidity - Net cash flow from operating activities was negative at CNY -39,079,448.84, a decrease of 151.42% compared to the same period last year[5]. - The cash flow from operating activities showed a net outflow of -¥39,079,448.84, a decrease of 294.49% compared to a positive cash flow of ¥76,007,027.98 in the same period last year[14]. - Cash and cash equivalents decreased to ¥4,647,801.60 from ¥8,703,121.89, a decline of 46.51%[32]. - The total cash outflow from operating activities was CNY 118,578,707.21, a decrease of 77.85% from CNY 533,841,536.76 in the previous year[49]. - The company reported a net cash outflow from investing activities of CNY -2,566,049.00, indicating a decrease in investment activity compared to the previous year[49]. Assets and Liabilities - Total assets decreased by 6.35% to CNY 3,680,680,700.63 compared to the end of the previous year[5]. - Net assets attributable to shareholders decreased by 40.89% to CNY 289,188,281.56 compared to the end of the previous year[5]. - The company's accounts receivable decreased to RMB 1.05 billion from RMB 1.16 billion, a reduction of about 8.9%[27]. - Total liabilities decreased to ¥4,408,825,045.04 from ¥4,418,655,280.14, a slight reduction of 0.23%[34]. - A total of RMB 1.2799474 billion in assets has been frozen due to overdue debts, including bank accounts and equity investments[22]. Shareholder Information - The total number of shareholders was 23,703 at the end of the reporting period[9]. - The largest shareholder, Guirenniao Group (Hong Kong) Limited, holds 76.22% of the shares[9]. Operational Metrics - The number of retail terminals for the Guirenniao brand decreased to 2,239 from 2,371, with 143 closures during the period[17]. - Online sales revenue for the first quarter was ¥62,476,365.36, accounting for 37.15% of total sales, compared to 20.59% in the same period last year[19]. - The gross profit margin for the Guirenniao brand increased to 52.78%, up by 17.39 percentage points from the previous year, despite a 73.89% decline in revenue[15]. Financial Obligations and Defaults - The company failed to pay the principal and interest of the "14 Guirenniao" bonds, leading to lawsuits from creditors totaling RMB 315.66 million[20]. - The company also defaulted on the "2016 First Phase Non-Public Debt Financing Instruments," with a claim of RMB 105 million from Sanya Rural Commercial Bank[20]. - The company has not reached a debt settlement agreement with creditors as of the report date[22]. Expenses and Investments - Total operating costs decreased by 54.65% to ¥213,107,142.43 from ¥469,895,645.75, reflecting the decline in revenue[12]. - Research and development expenses were reduced by 45.59% to ¥5,326,605.34 from ¥9,789,754.06, indicating a decrease in R&D investment[12]. - The company reported a significant increase in financial expenses, totaling ¥42,660,357.25, attributed to higher interest expenses[12].