Bestore(SH:603719)2020-04-28 16:00Financial Performance - Operating revenue for the period was CNY 1,908,931,177.93, representing a year-on-year increase of 4.16%[14] - Net profit attributable to shareholders of the listed company decreased by 19.43% to CNY 87,979,426.00[14] - Basic earnings per share decreased by 20.00% to CNY 0.24[14] - The company reported a significant increase in minority shareholders' profit, amounting to RMB 3,366,715.50, due to improved performance from a subsidiary[30] - Total revenue for Q1 2020 was approximately ¥1.91 billion, an increase from ¥1.83 billion in Q1 2019, representing a growth of about 4%[51] - Net profit for Q1 2020 was approximately ¥121.51 million, compared to ¥117.79 million in Q1 2019, reflecting a growth of about 3%[51] - The company reported a decrease in sales expenses to approximately ¥386.62 million from ¥396.16 million in Q1 2019, a reduction of about 2%[52] - The total profit for Q1 2020 was CNY 123,871,890.30, a decrease of 15.6% from CNY 146,740,848.10 in Q1 2019[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,725,050,915.96, a decrease of 2.78% compared to the end of the previous year[14] - The company's total equity increased to RMB 1,977,371,794.69 from RMB 1,465,152,471.39, representing a growth of approximately 35%[42] - Total liabilities decreased to RMB 1,747,679,121.27 from RMB 2,366,542,162.20, reflecting a reduction of about 26.1%[42] - The company's cash and cash equivalents were RMB 1,856,412,089.38, up from RMB 1,523,677,625.79 year-on-year[36] - Total current assets amounted to RMB 2,916,406,199.22, a decrease from RMB 3,014,904,523.23 in the previous year[36] - The company reported fixed assets of ¥521,509,661.82 and intangible assets of ¥163,503,540.80[69] - The company holds long-term equity investments valued at approximately $268.06 million, indicating a strategic investment approach[80] Cash Flow - Net cash flow from operating activities was CNY 59,954,403.15, down 16.33% from the previous year[14] - The net cash flow from financing activities was RMB 443,789,664.88, resulting from funds raised through the company's initial stock issuance[31] - The net cash flow from investment activities was -96,478,256.06 RMB, improving from -191,927,442.88 RMB, indicating a reduction in losses[62] - The net increase in cash and cash equivalents was 407,265,811.97 RMB, compared to a decrease of 120,268,075.35 RMB in the previous period[64] - Cash inflow from financing activities reached 445,466,080.00 RMB, with cash outflow totaling 1,676,415.12 RMB, resulting in a net cash flow of 443,789,664.88 RMB[64] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,596[20] - The largest shareholder, Ningbo Hanyi Investment Management Partnership, held 37.30% of the shares[20] - The company issued 41 million A-shares at a price of RMB 11.90 per share, raising a total of RMB 487.9 million, with a net amount of RMB 420.87 million after deducting issuance costs[32] Changes in Financial Position - Accounts receivable decreased by 30.45% to RMB 179,802,090.13, primarily due to reduced online sales[26] - Inventory saw a substantial decline of 42.08%, ending at RMB 562,311,124.60, attributed to seasonal sales fluctuations[26] - The company's capital reserve rose by 90.84% to RMB 798,053,956.19, due to the premium from the initial public offering[29] - The company experienced a 99.66% decrease in advance receipts, now classified as contract liabilities under new revenue recognition standards[26] - The company reclassified ¥150,064,379.08 from advance receipts to contract liabilities and other current liabilities due to the new revenue recognition standards[76] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 17,425,577.65 during the reporting period[16] - Other income dropped by 52.50% to RMB 17,425,577.65, mainly due to a reduction in government subsidies received[29] - The company reported other income of CNY 90,422.60 in Q1 2020, significantly lower than CNY 24,313,429.00 in Q1 2019[56]