锦江B股(900934) - 2021 Q1 - 季度财报

Financial Performance - Operating revenue for the first quarter was CNY 2.30 billion, a 5.06% increase from CNY 2.19 billion in the same period last year[4] - Net profit attributable to shareholders was a loss of CNY 182.70 million, a decrease of 207.12% compared to a profit of CNY 170.56 million in the previous year[4] - Operating profit was RMB -186.59 million, a decline of 414.65% compared to the same period last year[14] - The company reported a significant increase in accounts receivable, rising to CNY 25,692,995.50 from CNY 22,471,734.82, indicating a growth of 9.87%[52] - The company reported a total comprehensive income of CNY -152,712,156.62 for Q1 2021, compared to CNY 103,913,512.24 in Q1 2020[55] - The company’s financial performance indicates a need for strategic adjustments to address the significant losses and declining profitability[55] Assets and Liabilities - Total assets increased by 35.11% to CNY 52.20 billion compared to the end of the previous year[4] - The total liabilities amounted to RMB 34,429.00 million, reflecting a growth of 38.10% year-on-year[13] - The company’s total current assets amounted to CNY 14.06 billion, up from CNY 9.42 billion, representing a growth of approximately 49.5%[47] - The company has a significant amount of lease liabilities totaling CNY 9.31 billion, which were not present in the previous reporting period[49] - The total liabilities increased to CNY 34.43 billion from CNY 24.93 billion, reflecting a rise of approximately 38.3%[49] Shareholder Equity - Net assets attributable to shareholders rose by 32.31% to CNY 16.82 billion year-over-year[4] - The company's equity attributable to shareholders rose to CNY 16.82 billion, compared to CNY 12.71 billion at the end of 2020, marking an increase of around 32.9%[49] Cash Flow - Cash flow from operating activities showed an improvement, with a loss of CNY 496.20 million compared to a loss of CNY 1.35 billion in the same period last year[4] - Net cash flow from operating activities improved to -¥496,203,675.90, a reduction in outflow of ¥853,806,641.63 compared to -¥1,350,010,317.53 in the previous year, due to improved operations of domestic limited-service hotels[38] - Net cash flow from financing activities increased significantly to ¥4,788,134,158.44, up 2,852.77% from ¥162,157,221.33, primarily due to the completion of a non-public issuance of A-shares[40] Hotel Operations - The limited service hotel business generated consolidated revenue of RMB 2,234.74 million, a 4.64% increase year-on-year, with domestic revenue growing by 27.76%[18] - As of March 31, 2021, the total number of opened hotels reached 9,563, with a total of 934,301 rooms[19] - The average RevPAR for the company's hotels in mainland China in March 2021 recovered to 95.98% of the same period in 2019, with an expected RevPAR of 96% in April 2021[21] - The average occupancy rate for mid-range hotels in Q1 2021 was 64.92%, up 22.89% from 42.03% in Q1 2020, but down 9.36% from 74.28% in Q1 2019[80] Strategic Initiatives - The company is actively optimizing its debt structure and reducing operational costs in response to the uncertain recovery of the overseas market[24] - The company has initiated brand restructuring, product upgrades, and new concept innovations to prepare for accelerated growth post-pandemic[24] - The company has committed to avoiding any business that may compete with Jin Jiang Hotels, ensuring no conflicts of interest arise post-restructuring[42] Other Financial Metrics - Basic earnings per share were -CNY 0.1836, a decrease of 203.15% from CNY 0.1780 in the previous year[4] - The company reported non-recurring losses of CNY 21.54 million, primarily due to depreciation and rent expenses from hotels affected by the pandemic[8] - Interest expenses rose to ¥185,665,724.49, an increase of 171.82% from ¥68,303,633.06, primarily due to the implementation of new leasing standards[35]