Peacebird(SH:603877)2020-04-26 16:00Financial Performance - Operating revenue for the first quarter was CNY 1,382,753,087.69, a decline of 16.66% year-on-year[11] - Net profit attributable to shareholders dropped by 89.89% to CNY 8,755,904.40 compared to the same period last year[11] - Basic and diluted earnings per share fell by 88.89% to CNY 0.02[11] - The company's operating revenue for Q1 2020 was approximately CNY 1.37 billion, a decrease of 16.50% year-over-year[23] - The gross profit margin for the apparel operations segment was 52.21%, down by 5.38% compared to the previous year[23] - The company achieved a retail sales revenue of CNY 2.6 billion, a decline of 12% year-over-year, with a notable recovery compared to the industry[27] - Operating profit for Q1 2020 was CNY 19,796,401.28, significantly lower than CNY 128,477,903.47 in Q1 2019, indicating a decline of approximately 84.6%[51] - Net profit for Q1 2020 was CNY 14,862,261.71, down from CNY 128,535,336.21 in Q1 2019, reflecting a decrease of around 88.4%[51] - The total comprehensive income for Q1 2020 was CNY 7,332,407.37, significantly lower than CNY 84,092,819.82 in Q1 2019, reflecting a decline of about 91.3%[52] Cash Flow and Assets - Total assets decreased by 6.38% to CNY 6,567,508,777.78 compared to the end of the previous year[11] - The net cash flow from operating activities improved to CNY -182,240,557.60, compared to CNY -270,566,589.88 in the previous year[11] - The company's total assets amounted to ¥6.57 billion, down from ¥7.02 billion, representing a decrease of approximately 6.3%[41] - The total current assets decreased to ¥4.50 billion from ¥4.96 billion, reflecting a reduction of about 9.4%[36] - The company's total cash and cash equivalents decreased by $167.04 million, compared to a decrease of $261.63 million in the previous year[62] - The cash flow from operating activities in Q1 2020 was CNY 1,646,894,968.97, down from CNY 2,178,377,246.88 in Q1 2019, a decrease of about 24.4%[59] Shareholder Information - The total number of shareholders was 11,297 at the end of the reporting period[14] - The largest shareholder, Taiping Bird Group Co., Ltd., held 47.90% of the shares, with 229,362,000 shares pledged[14] Liabilities and Equity - Total liabilities decreased to ¥3.04 billion from ¥3.50 billion, reflecting a reduction of about 13.1%[41] - Total equity decreased from CNY 2,542,814,636.60 to CNY 2,524,888,750.23, a slight decrease of approximately 0.7%[46] - The company's equity attributable to shareholders increased to ¥3.52 billion from ¥3.51 billion, a slight increase of approximately 0.2%[41] Store Operations - The company opened 24 new direct stores and 53 franchise stores, while closing 38 direct stores and 88 franchise stores, resulting in a net decrease of 49 stores[26] - The total number of offline stores at the end of the reporting period was 4,447, including 1,619 direct stores and 2,825 franchise stores[26] Marketing and Product Development - The company emphasized the importance of product development and design, launching several collaborative collections during the first quarter, including the "Mulan" women's collection and the "Doraemon" series[33] - The company is focusing on a multi-faceted marketing strategy targeting younger consumers through various channels, including celebrity endorsements and live streaming[33] Revenue Recognition and Standards - The company adopted new revenue recognition standards starting January 1, 2020, impacting the classification of certain assets and liabilities[76] - The company did not make retrospective adjustments to prior financial statements under the new revenue standards[76]