JJIT(SH:900929)2020-04-29 16:00Financial Performance - Operating revenue fell by 60.45% to CNY 116,630,823.23 year-on-year[7] - Net profit attributable to shareholders decreased by 42.33% to CNY 8,296,754.44 compared to the same period last year[7] - The company reported a significant decline in operating profit, down 77.63% to CNY 3,102,000[13] - Basic earnings per share decreased by 42.33% to CNY 0.0626[7] - The company's main business revenue from tourism and related services was CNY 109,373,314.54, with a gross margin of 14.42%, reflecting a decrease of 61.35% compared to the same period last year[40] - The total revenue for the company was CNY 110,467,606.93, with a gross margin of 14.73%, indicating a decrease of 61.19% compared to the previous year[40] - The company reported a decrease in cash received from sales of goods and services, totaling ¥120,717,317.99 in Q1 2020, down 58.9% from ¥293,650,594.49 in Q1 2019[67] - The company's operating revenue for Q1 2020 was ¥7,082,972.81, a decrease of 81.8% compared to ¥38,879,330.46 in Q1 2019[63] - The net profit for Q1 2020 was ¥1,593,329.64, down 84.2% from ¥10,125,380.51 in Q1 2019[63] Assets and Liabilities - Total assets decreased by 10.15% to CNY 1,175,368,154.30 compared to the end of the previous year[7] - Current assets totaled CNY 346,718,995.25, down from CNY 430,195,215.43, indicating a decrease of about 19.4%[50] - Total liabilities decreased to CNY 328,121,377.48 from CNY 432,579,021.27, a reduction of about 24.1%[52] - Current liabilities totaled CNY 253,862,853.31, down from CNY 346,346,922.94, indicating a decrease of approximately 26.7%[51] - The company's equity attributable to shareholders decreased to CNY 843,815,238.25 from CNY 871,295,923.29, a decline of approximately 3.1%[52] - Total owner's equity decreased to ¥996,727,642.90 in Q1 2020 from ¥1,030,911,752.74 in Q1 2019, a decrease of 3.3%[57] Cash Flow - Net cash flow from operating activities improved to CNY -9,533,062.50, a reduction in loss compared to CNY -66,594,740.18 in the previous year[7] - The net cash flow from operating activities improved by CNY 57,061,677.68, reaching -CNY 9,533,062.50, primarily due to reduced tax payments[31] - Cash flow from operating activities showed a net outflow of -¥9,533,062.50 in Q1 2020, compared to -¥66,594,740.18 in Q1 2019[67] - The net cash flow from investing activities was 3,492,069.95 RMB, a turnaround from -2,254,179.62 RMB in Q1 2019[72] Shareholder Information - The total number of shareholders reached 12,798 by the end of the reporting period[11] - The top shareholder, Shanghai Jinjiang Capital Co., Ltd., holds 50.21% of the shares[12] Government Support and Other Income - The company received government subsidies amounting to CNY 8,522,490.97, primarily for tourism development[8] - Other income increased by 399.33% to CNY 3,622,490.97, mainly due to increased government subsidies[23] Operational Adjustments - The company suspended group tours and "flight + hotel" products starting January 24, 2020, in response to the pandemic[33] - The company plans to adjust and upgrade tourism products and enhance operational efficiency to minimize pandemic-related losses[36] - The company plans to continue its market expansion and product development strategies, focusing on enhancing its service offerings in the tourism sector[44] Accounting Policies - The company has adopted new revenue recognition standards effective from January 1, 2020, which are expected to increase gross margins despite a decrease in overall revenue and costs[47] - The overall impact of the new accounting policy is not expected to significantly affect the company's net profit, net assets, or operating cash flow[47] - The company is implementing new revenue and leasing standards starting in 2020, which may impact future financial reporting[81]