HSTD(SH:900942)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 427.71% to a loss of CNY 77,241,228.73, primarily due to an 81.15% decline in visitor numbers caused by the COVID-19 pandemic[5] - Operating revenue fell by 73.59% to CNY 69,792,009.71 compared to the same period last year[5] - Basic and diluted earnings per share dropped by 427.86% to -CNY 0.1059[5] - Total operating revenue for Q1 2020 was CNY 69,792,009.71, a decrease of 73.59% compared to CNY 264,215,356.13 in the same period last year, primarily due to an 81.15% decline in visitor numbers caused by the COVID-19 pandemic[12] - Net profit for Q1 2020 was a loss of CNY 80,765,446.80, compared to a profit of CNY 25,308,688.15 in Q1 2019, indicating a significant decline[24] - Total comprehensive income for Q1 2020 was a loss of CNY 67,976,446.80, compared to a gain of CNY 97,980,928.15 in Q1 2019[25] Cash Flow and Liquidity - Net cash flow from operating activities was negative at CNY -128,502,598.39, compared to CNY -54,766,386.79 in the previous year[5] - Cash and cash equivalents decreased by 51.91% to CNY 866,261,692.25 from CNY 1,801,357,943.33, mainly due to the investment of idle funds in bank wealth management products[12] - Cash received from sales of goods and services in Q1 2020 was CNY 70,993,654.69, down 72.6% from CNY 259,079,212.85 in Q1 2019[30] - Operating cash inflow for Q1 2020 was CNY 43,673,883.90, a decrease of 79.5% compared to CNY 212,439,427.16 in Q1 2019[33] - Net cash outflow from operating activities was CNY -109,201,070.20, worsening from CNY -46,191,161.15 in the same period last year[33] - Total cash outflow from investing activities reached CNY 801,242,103.57, compared to CNY 1,065,896,170.14 in Q1 2019, indicating a reduction in investment spending[34] Assets and Liabilities - Total assets decreased by 3.51% to CNY 4,793,326,907.64 compared to the end of the previous year[5] - Total liabilities decreased to CNY 338,136,650.10 in Q1 2020 from CNY 444,611,728.69 in Q4 2019, a reduction of 24%[18] - Current liabilities totaled CNY 232,800,000.92, down 32% from CNY 342,979,653.34 in the previous quarter[18] - Total assets as of March 31, 2020, amounted to CNY 4,793,326,907.64, down from CNY 4,967,778,433.03 at the end of 2019, representing a decline of 3.5%[18] - The company’s total assets decreased to CNY 1,961,356,784.06 from CNY 2,210,386,720.24, indicating a reduction in overall financial resources[16] Shareholder Information - The total number of shareholders at the end of the reporting period was 56,512[10] - The largest shareholder, Huangshan Tourism Group Co., Ltd., held 40.66% of the shares[10] - The total equity attributable to shareholders was CNY 4,294,626,504.45, down from CNY 4,359,078,733.18, a decrease of 1.5%[18] Other Financial Metrics - The weighted average return on net assets decreased by 2.36 percentage points to -1.79%[5] - Other income surged by 1173.12% to CNY 2,231,435.82 from CNY 175,273.37, mainly due to subsidies received from the cultural tourism bureau[13] - The company reported non-recurring gains and losses totaling CNY 6,222,225.10[8] - The company anticipates a significant decline in cumulative net profit for the year due to the ongoing uncertainty of the COVID-19 pandemic[13] - The company executed a reclassification of amounts settled with customers but not yet fulfilled into contract liabilities, resulting in a new contract liability of CNY 13,125,989.57[12] Investment and Development - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company has long-term investments amounting to RMB 41,479,491.29 in equity investments and RMB 133,464,248.60 in long-term receivables[37] - The company has a total of RMB 177,154,613.00 in intangible assets, reflecting ongoing investments in technology and innovation[37] - The company is adapting to the new revenue recognition standards effective from January 1, 2020, which may impact future financial reporting[39] - The company has adopted the new revenue recognition standard effective January 1, 2020, impacting the accounting policies[43]