GTCL(SZ:000978)2020-04-28 16:00Financial Performance - The company's operating revenue for Q1 2020 was ¥27,492,234.59, a decrease of 76.34% compared to ¥116,205,663.91 in the same period last year[7] - The net profit attributable to shareholders was -¥67,102,231.49, representing a 3,346.53% increase in loss compared to -¥1,946,948.59 in the previous year[7] - The basic and diluted earnings per share were both -¥0.186, reflecting a 3,620.00% increase in loss compared to -¥0.005 in the previous year[7] - The company reported a net loss attributable to shareholders of CNY 67,102,231.49 for Q1 2020, compared to a profit of CNY 1,946,948.59 in Q1 2019[17] - Net profit for Q1 2020 was a loss of CNY 74,741,307.86, compared to a loss of CNY 6,438,038.76 in Q1 2019, representing an increase in loss of 1,161.66%[46] - The company’s total comprehensive loss for Q1 2020 was CNY 74,741,307.86, compared to a loss of CNY 6,438,038.76 in Q1 2019[46] Cash Flow and Liquidity - The net cash flow from operating activities was -¥42,734,500.96, a decrease of 10.90% from -¥47,960,444.70 in the same period last year[7] - The cash inflow from operating activities for the first quarter of 2020 was CNY 51,976,355.48, a decrease of 59.0% compared to CNY 127,005,191.44 in the same period last year[51] - The total cash and cash equivalents at the end of the period were CNY 37,979,140.67, down from CNY 118,874,163.70 in the same period last year[51] - The company reported a cash outflow of CNY 66,630,216.39 for employee payments, which is a decrease of 16.7% from CNY 80,041,865.86 in the previous year[51] - The cash inflow from sales of goods and services was CNY 39,923,826.23, a decline of 62.4% from CNY 106,069,275.64 year-over-year[51] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,810,216,243.52, a decrease of 2.12% from ¥2,871,037,043.45 at the end of the previous year[7] - The total current assets as of March 31, 2020, amount to 216.06 million yuan, a decrease from 247.85 million yuan on December 31, 2019, representing a decline of approximately 12.8%[38] - The total non-current assets as of March 31, 2020, amount to 2.59 billion yuan, down from 2.62 billion yuan on December 31, 2019, indicating a decrease of about 1.0%[38] - As of March 31, 2020, total liabilities amounted to CNY 1,287,014,130.71, a slight increase from CNY 1,273,093,622.78 as of December 31, 2019, reflecting a growth of approximately 1.5%[39] - The company's total liabilities were ¥1,273,093,622.78, with current liabilities at ¥473,040,912.12 and non-current liabilities at ¥800,052,710.66[55] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,567[10] - The largest shareholder, Guilin Tourism Development Company, held 18.09% of the shares, totaling 65,136,273 shares[10] - The total equity attributable to shareholders decreased to CNY 1,525,159,752.49 from CNY 1,592,261,983.98, reflecting a decrease of about 4.2%[39] Government Support - The company received government subsidies amounting to ¥7,865,342.24 during the reporting period[8] - The company received government subsidies totaling CNY 6,000,000 during the reporting period, which helped mitigate losses[17] Operational Changes - The company has resumed operations for several business segments, including scenic areas and ferry services, while some areas remain closed due to the pandemic[20] - The company’s management indicated a focus on cost control and exploring new revenue streams in response to the challenging market conditions[46] Accounting Adjustments - The company reported a significant adjustment in prepayments, with a decrease of ¥4,891,723.88 in the current liabilities due to the new revenue accounting standards[55] - As of January 1, 2020, the company adopted new revenue accounting standards, which required adjustments to the initial contract liabilities[56]