XIANGPIAOPIAO(SH:603711)2020-04-24 16:00Financial Performance - Operating revenue decreased by 48.61% to CNY 430,016,348.18 compared to the same period last year[12]. - Net profit attributable to shareholders was CNY -85,568,691.70, a significant decline from CNY 51,964,138.16 in the previous year[12]. - The company reported a gross profit margin of -27.5% in Q1 2020, compared to a positive margin in Q1 2019[51]. - Total operating revenue for Q1 2020 was CNY 430,016,348.18, a decrease of 48.7% compared to CNY 836,747,965.24 in Q1 2019[51]. - Net profit for Q1 2020 was a loss of CNY 85,568,691.70, compared to a profit of CNY 51,964,138.16 in Q1 2019[54]. - The total profit for Q1 2020 was a loss of CNY 116,315,828.31, compared to a profit of CNY 66,450,917.04 in Q1 2019[54]. - The company expects a continued loss for the first half of 2020 due to the substantial losses incurred in Q1[32]. Cash Flow - Net cash flow from operating activities was CNY -477,961,943.34, compared to CNY 39,079,135.52 in the same period last year[12]. - Cash inflow from operating activities was CNY 500,793,287.03, down from CNY 981,985,958.30 in the first quarter of 2019, representing a decline of approximately 49%[64]. - Cash outflow from operating activities totaled CNY 978,755,230.37, resulting in a net cash flow from operating activities of -CNY 477,961,943.34, compared to a positive cash flow of CNY 39,079,135.52 in the previous year[64]. - Cash inflow from investment activities was CNY 236,494,365.81, while cash outflow was CNY 611,756,337.02, leading to a net cash flow from investment activities of -CNY 375,261,971.21[64]. - Cash inflow from financing activities was CNY 847,000,000.00, with a net cash flow from financing activities of CNY 628,358,630.41, compared to a net outflow of CNY 18,125.00 in the previous year[64]. - The company experienced a net decrease in cash and cash equivalents of CNY 225,168,586.91 during the first quarter of 2020[66]. Assets and Liabilities - Total assets increased by 4.41% to CNY 4,088,200,119.61 compared to the end of the previous year[12]. - Total liabilities increased to CNY 1,601,841,535.58 from CNY 1,381,498,199.81, representing a growth of approximately 15.9% year-over-year[41]. - The company's current liabilities increased to CNY 1.53 billion in Q1 2020, up from CNY 1.31 billion in the previous year[39]. - Total current assets amounted to approximately ¥2.11 billion as of December 31, 2019[77]. - Non-current assets totaled approximately ¥823.18 million, leading to total assets of approximately ¥2.93 billion[79]. - The company reported cash and cash equivalents of approximately ¥464.17 million as of December 31, 2019[77]. Shareholder Information - The total number of shareholders at the end of the reporting period was 10,422[16]. - The largest shareholder, Jiang Jianqi, holds 56.42% of the shares[16]. - The company reported a total equity of CNY 2,486,358,584.03, down from CNY 2,534,120,339.13, a decline of about 1.9%[41]. Research and Development - R&D expenses increased by 101.23% to ¥6,053,100.09, reflecting the company's increased investment in research and development[24]. - Research and development expenses increased to CNY 6,053,100.09 in Q1 2020, up from CNY 3,008,001.10 in Q1 2019, representing a growth of 101.5%[51]. Government Subsidies - Government subsidies recognized in the current period amounted to CNY 13,099,671.34[14]. - The company received government subsidies amounting to ¥13,099,671.34, a significant increase of 1,321.45% compared to the previous year[24]. Inventory and Receivables - Accounts receivable decreased by 65.40% to ¥15,601,988.18 as a result of recovering receivables from distributors[21]. - Accounts receivable dropped significantly from CNY 45.09 million in 2019 to CNY 15.60 million in Q1 2020[36]. - The company’s inventory stood at $166,095,818.46, which is crucial for its operational efficiency[70].