BJCT(SZ:000802)2020-04-28 16:00Financial Performance - The company's operating revenue for Q1 2020 was CNY 1,177,642.85, a decrease of 96.62% compared to CNY 34,842,184.23 in the same period last year[7]. - The net profit attributable to shareholders was a loss of CNY 19,235,504.69, which is a 9.93% improvement from a loss of CNY 27,129,624.18 in the previous year[7]. - The basic earnings per share were CNY -0.0269, a decrease of 10.25% from CNY -0.0244 in the previous year[7]. - The net loss for Q1 2020 was CNY 19,236,809.36, slightly improved from a net loss of CNY 19,602,107.63 in Q1 2019[49]. - The total operating profit for the current period is -CNY 4,416,609.41, an improvement from -CNY 10,430,320.46 in the previous period[52]. - The net profit for the current period is -CNY 16,595,331.93, compared to -CNY 14,051,940.96 in the previous period, indicating a worsening loss[53]. Cash Flow - The net cash flow from operating activities improved by 79.11%, reaching CNY -130,970,217.82 compared to CNY -626,973,189.37 in the same period last year[7]. - The cash flow from operating activities shows a net outflow of -CNY 130,970,217.82, improving from -CNY 626,973,189.37 in the previous period[54]. - The cash flow from investing activities has a net outflow of -CNY 461,003,280.00, compared to -CNY 176,389,836.75 in the previous period[56]. - The cash flow from financing activities shows a net inflow of CNY 531,345,680.03, significantly higher than CNY 142,820,487.50 in the previous period[56]. - The total cash and cash equivalents at the end of the period is CNY 115,263,110.88, down from CNY 243,354,814.36 in the previous period[56]. - The company reported a cash outflow of 461,003,280.00 CNY from investing activities in Q1 2020, compared to 176,389,836.75 CNY in Q1 2019[58]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,957,248,461.44, reflecting an increase of 8.30% from the previous year's end[7]. - The company's total assets as of March 31, 2020, amounted to CNY 4,803,690,083.24, an increase from CNY 4,448,912,214.90 at the end of 2019[46]. - Current liabilities increased to CNY 2,293,095,283.15 in Q1 2020, compared to CNY 1,909,964,622.30 in the previous quarter, reflecting a rise of approximately 20.06%[46]. - Total liabilities rose to CNY 2,484,025,541.35 from CNY 2,084,766,560.69, an increase of about 19%[42]. - The company's equity attributable to shareholders decreased to CNY 2,480,627,767.29 from CNY 2,499,863,271.97, a decline of approximately 0.77%[43]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 45,820[11]. - The top shareholder, Fude Life Insurance Co., Ltd., held 15.60% of the shares, totaling 111,649,909 shares[11]. - Shareholder China Huali Holdings increased its stake by 108,510,309 shares, representing 15.16% of the total share capital[21]. - Huali Holdings passively reduced its holdings by 4,029,000 shares, accounting for 0.56% of the total share capital due to market conditions[21]. - Huali Holdings faces a risk of disposal for 54,473,628 shares, which is 7.61% of the total share capital, due to a dispute with Haitong Securities[22]. Operational Updates - The company is currently in the post-production phase for the film project "Fengshen Trilogy," which has completed all exterior shooting[18]. - The film project "Lion Boy" is currently in production, with a planned release in 2021[27]. - The film "Growing Up Tomorrow" is in post-production, with no set release date[27]. - The company has multiple film projects in various stages, including "封神三部曲" expected to be completed between 2020-2022, currently in post-production[29]. - The project "大宋宫词" has been issued a distribution license and is currently in the distribution phase[29]. - The company is actively developing new projects such as "东极岛" and "多远都要在一起," both in the early development stage[30]. Regulatory and Compliance - The company received government subsidies amounting to CNY 845,445.86 during the reporting period[9]. - The company has secured filming permits for several projects, indicating regulatory compliance and progress[29]. - The company reported a significant accounting error correction related to revenue recognition from previous years, leading to adjustments in financial statements[7]. - The company reported no overdue commitments from major shareholders or related parties during the reporting period[32]. - There were no securities investments or entrusted financial management activities reported during the period[33][34]. Management and Expenses - Operating costs for Q1 2020 were CNY 796,566.97, down 83.05% from CNY 4,698,407.59 year-on-year[16]. - Sales expenses decreased by 70.71% to CNY 412,356.26 from CNY 1,407,620.38 in the previous year[16]. - Management expenses were CNY 21,653,440.62, a reduction of 54.96% compared to CNY 48,071,883.37 in the same period last year[16]. - The company incurred interest expenses of CNY 5,511,757.50, compared to CNY 625,312.50 in the previous period, indicating a significant increase[52]. - The company's management expenses for the current period are CNY 17,816,114.58, compared to CNY 42,563,441.56 in the previous period, showing a reduction[51].