Ganso(SH:603886)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 352.37% to a loss of CNY 30,870,122.25 year-on-year[6] - Operating revenue declined by 7.85% to CNY 313,931,796.61 compared to the same period last year[6] - Basic earnings per share decreased by 333.33% to CNY -0.13 compared to the same period last year[6] - The weighted average return on equity decreased by 1.61 percentage points to -2.10%[6] - Net profit for Q1 2020 was a loss of CNY 30,875,803.88, compared to a loss of CNY 6,830,674.64 in Q1 2019, indicating a significant decline in profitability[31] - The net profit attributable to the parent company for Q1 2020 was a loss of CNY 30,870,122.25, compared to a loss of CNY 6,824,027.35 in Q1 2019, indicating a significant decline[34] - The total comprehensive income for Q1 2020 was a loss of CNY 27,785,224.63, compared to a loss of CNY 7,355,424.60 in the same period last year[34] Revenue and Costs - Total operating revenue for Q1 2020 was CNY 313,931,796.61, a decrease of 7.4% compared to CNY 340,679,302.54 in Q1 2019[31] - The company reported a slight increase in operating costs by 2.90% to CNY 12.18 million, attributed to product upgrades[16] - Total operating costs for Q1 2020 were CNY 348,837,497.70, slightly down from CNY 349,222,496.26 in Q1 2019[31] - The total operating costs for Q1 2020 were CNY 115,468,092.39, slightly up from CNY 115,162,452.08 in Q1 2019[34] Assets and Liabilities - Total assets increased by 4.00% to CNY 2,488,367,524.60 compared to the end of the previous year[6] - Cash and cash equivalents decreased by 22.73% to CNY 176.92 million from CNY 228.97 million due to investments in Yuanzi Dream World[16] - Total assets as of March 31, 2020, amounted to CNY 2,175,614,648.23, an increase from CNY 2,072,178,067.19 at the end of 2019[28] - Total liabilities as of March 31, 2020, were CNY 719,041,629.62, up from CNY 612,775,933.31 at the end of 2019[28] - The total liabilities of the company were CNY 900,292,559.28, indicating a stable financial structure[43] Cash Flow - Net cash flow from operating activities improved by 38.26% to a negative CNY 33,622,251.59 compared to the previous year[6] - Cash inflow from operating activities in Q1 2020 was CNY 406,193,440.69, compared to CNY 418,050,866.87 in Q1 2019, reflecting a decrease of 2.0%[36] - The company reported a net loss from investment activities of CNY 2,013,926.86 in Q1 2020, contrasting with a profit of CNY 7,189,196.34 in Q1 2019[34] - The total cash inflow from investment activities was ¥395,605,135.73, down from ¥641,035,800.19 in the previous year, resulting in a net cash flow from investment activities of -¥18,430,802.89 compared to ¥67,574,234.86 in Q1 2019[37] Shareholder Information - The total number of shareholders reached 19,362 by the end of the reporting period[13] - The largest shareholder, Yuan Zu International Limited, holds 49.5% of the shares[13] Investments - Long-term equity investments increased by 118.13% to CNY 507.34 million from CNY 232.58 million, reflecting new investments in Yuanzi Dream World[16] - The company plans to increase its stake in Yuanzi Dream World to 30.45% through a capital increase of USD 40 million (approximately CNY 28 million)[17] - Other payables surged by 172.85% to CNY 188.90 million, including unpaid investments in Yuanzi Dream World amounting to CNY 130 million[16] New Standards and Reporting - The company has adopted new revenue and leasing standards starting from 2020, which may impact future financial reporting[39] - The company has not applied the new revenue and leasing standards retrospectively[48] - There are no adjustments to prior period comparative data due to the new standards[48] - The company has recognized contract assets or liabilities based on the new revenue standards[47]