VCG(SZ:000681)2020-04-28 16:00Financial Performance - The company reported a revenue of CNY 110,557,806.82 for Q1 2020, a decrease of 32.54% compared to CNY 163,895,222.11 in the same period last year[8]. - Net profit attributable to shareholders was CNY 29,193,724.41, down 49.28% from CNY 57,557,184.51 year-on-year[8]. - Basic and diluted earnings per share were both CNY 0.0417, representing a decrease of 49.27% from CNY 0.0822 in the same quarter last year[8]. - The total comprehensive income for the period was reported at ¥35,679,664.29, up from ¥28,952,845.53[46]. - The net profit for the current period is 29,089,862.33, down from 55,863,544.32 in the previous period, indicating a decrease of approximately 48%[61]. - The total comprehensive income for the current period is 35,816,681.09, compared to 48,929,989.00 in the previous period, indicating a decline of about 26.8%[64]. Cash Flow - The net cash flow from operating activities was negative CNY 24,161,017.43, a decline of 173.31% compared to CNY 32,958,806.74 in the previous year[8]. - Cash received from sales of goods and services decreased by CNY 92.77 million, a decline of 50.60%, mainly due to the impact of COVID-19 and the suspension of website services[22]. - Cash inflow from operating activities was 101,549,410.73, down from 195,884,287.64[73]. - Cash outflow from operating activities totaled 125,710,428.16, compared to 162,925,480.90 in the previous period[76]. - The ending cash and cash equivalents balance was 222,560,642.39, down from 364,866,570.18[79]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,156,124,394.33, an increase of 0.95% from CNY 4,117,179,172.16 at the end of the previous year[8]. - The total liabilities amounted to ¥1,044,788,826.94, slightly up from ¥1,043,487,285.86 year-over-year[46]. - Total equity attributable to shareholders reached ¥3,109,619,979.42, an increase from ¥3,073,699,436.25[46]. - Non-current assets totaled CNY 34.88 billion as of March 31, 2020, compared to CNY 34.26 billion at the end of 2019[40]. - Current assets totaled CNY 691,365,728.72, with cash and cash equivalents at CNY 373,304,700.19[87]. Expenses and Costs - The total operating costs for the current period amount to 87,191,592.24, compared to 108,486,057.22 in the previous period, showing a reduction of about 19.6%[60]. - Research and development expenses for the current period are 9,554,803.79, slightly down from 10,337,275.15 in the previous period[60]. - The company reported a financial expense of 3,225,201.00 for the current period, up from 1,901,507.40 in the previous period[60]. - The income tax expense for the current period is 5,229,887.86, down from 9,128,905.92 in the previous period, showing a decrease of approximately 42%[61]. Impact of COVID-19 - The decline in revenue and profit was attributed to the impact of the COVID-19 pandemic on clients in sectors such as tourism and automotive, leading to reduced demand[21]. - The company reported a non-operating expense of CNY 1,395,641.37 primarily due to COVID-19 related donations of CNY 2 million[8]. - The company's website was relaunched at the end of Q1 2020, which delayed the delivery of some contracts and affected revenue recognition[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 49,880[12]. - The company reported an increase in undistributed profits to ¥1,367,436,475.83 from ¥1,338,242,751.42[46]. Other Financial Metrics - The weighted average return on equity was 0.96%, down from 1.96% in the previous year[8]. - Credit impairment losses rose by CNY 3.04 million, an increase of 170.70%, mainly due to higher provisions for bad debts on receivables[22]. - Financial expenses increased by CNY 1.32 million, a rise of 69.61%, primarily due to exchange rate fluctuations affecting foreign exchange gains and losses[22].