Freelynet(SH:603602)2020-04-29 16:00Financial Performance - Operating revenue for the period was CNY 87,171,627.83, a decrease of 3.37% year-on-year[6] - Net loss attributable to shareholders was CNY -12,352,955.07, compared to a loss of CNY -4,646,277.92 in the same period last year[6] - Basic and diluted earnings per share were both CNY -0.08, compared to CNY -0.04 in the same period last year[6] - Total operating revenue for Q1 2020 was ¥87,171,627.83, a decrease of 3.4% compared to ¥90,211,657.22 in Q1 2019[28] - Net loss for Q1 2020 was ¥17,824,931.65, compared to a net loss of ¥5,104,872.59 in Q1 2019, representing a significant increase in losses[30] - Total profit for Q1 2020 was -¥17,218,738.75, compared to -¥4,741,097.68 in Q1 2019, indicating a decline in overall profitability[30] Assets and Liabilities - Total assets decreased by 8.38% to CNY 1,108,865,165.30 compared to the end of the previous year[6] - Cash and cash equivalents decreased by 49.91% to ¥150,236,801.37 from ¥299,948,196.44 due to increased operating expenses[11] - Total liabilities decreased from ¥495,725,094.71 to ¥385,926,208.96, a decrease of approximately 22.2%[26] - Current liabilities decreased from ¥499,731,537.48 to ¥416,635,495.92, a reduction of about 16.6%[22] - Non-current assets increased from ¥152,970,839.20 to ¥166,991,681.81, an increase of about 9.2%[25] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,657[10] - The largest shareholder, Su Weifeng, holds 30.56% of the shares, totaling 47,911,024 shares[10] - Shareholders' equity decreased from ¥710,544,601.03 to ¥692,229,669.38, a decline of about 2.6%[22] Cash Flow - Cash flow from operating activities was CNY -115,484,592.18, an improvement from CNY -172,660,920.00 in the previous year[6] - Cash received from operating activities rose by 208.52% to ¥16,402,584.54, primarily due to cash recovery from guarantees[16] - The net cash flow from operating activities for Q1 2020 was -111,830,806.50 RMB, compared to -106,031,110.60 RMB in Q1 2019, indicating a decline in operational cash flow[36] - The company reported a total operating cash inflow of 153,673,653.15 RMB in Q1 2020, down from 162,842,514.48 RMB in Q1 2019[36] Expenses - Total operating costs increased to ¥107,354,970.08 in Q1 2020, up 9.9% from ¥97,514,828.76 in Q1 2019[28] - Sales expenses surged by 118.21% to ¥6,232,024.14, primarily due to increased sales costs at subsidiaries[14] - R&D expenses grew by 31.59% to ¥13,112,742.72, driven by higher personnel costs in R&D[14] - The cash paid to employees in Q1 2020 was 29,061,686.95 RMB, compared to 22,509,274.87 RMB in Q1 2019, reflecting a 29% increase[36] - The cash paid for taxes in Q1 2020 was 16,455,401.83 RMB, up from 12,744,269.05 RMB in Q1 2019, indicating a 29% increase[36] Government Support - The company received government subsidies amounting to CNY 349,936.53 during the reporting period[8] - Other income increased by 191.61% to ¥349,936.53, mainly from tax incentives[14] Investment and Financing - The company plans to issue up to ¥270 million in convertible bonds for network construction and R&D center projects, with approval received from the China Securities Regulatory Commission[17] - Cash inflow from financing activities was 60,000,000.00 RMB, down from 200,000,000.00 RMB in Q1 2019, with a net cash flow of -11,733,107.40 RMB for Q1 2020[37]