GTCL(000978)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥22,219,223.05, a decrease of 44.85% compared to ¥40,291,008.95 in the same period last year[3] - The net profit attributable to shareholders for Q1 2022 was -¥71,315,050.86, representing a 30.37% increase in loss compared to -¥54,700,672.13 in Q1 2021[3] - The net cash flow from operating activities was -¥49,440,590.88, a decline of 14.12% from -¥43,324,740.80 in the previous year[3] - Total operating revenue for Q1 2022 was ¥22,219,223.05, a decrease of 44.8% compared to ¥40,291,008.95 in Q1 2021[36] - Net profit for Q1 2022 was a loss of ¥75,049,793.64, compared to a loss of ¥58,731,859.06 in Q1 2021, representing a 27.7% increase in loss[36] - Cash flow from operating activities for Q1 2022 was a net outflow of ¥49,440,590.88, worsening from a net outflow of ¥43,324,740.80 in Q1 2021[39] - Cash flow from investing activities resulted in a net outflow of ¥14,663,194.24, compared to a net outflow of ¥4,268,703.89 in the previous year[39] - Cash flow from financing activities generated a net inflow of ¥106,426,896.81, an increase from ¥57,905,905.60 in Q1 2021[39] - Basic and diluted earnings per share for Q1 2022 were both -0.198, compared to -0.152 in Q1 2021[36] Assets and Liabilities - The total assets at the end of Q1 2022 were ¥2,576,270,046.11, an increase of 0.79% from ¥2,556,072,476.94 at the end of the previous year[3] - The equity attributable to shareholders decreased by 6.46% to ¥1,032,462,005.21 from ¥1,103,777,056.06 at the end of the previous year[3] - The total current assets as of March 31, 2022, increased to RMB 297.30 million from RMB 258.66 million as of December 31, 2021, representing a growth of approximately 14.93%[33] - The total liabilities increased to RMB 1.53 billion as of March 31, 2022, compared to RMB 1.44 billion as of December 31, 2021, indicating a rise of about 6.67%[35] - The company's total assets reached RMB 2.58 billion as of March 31, 2022, slightly up from RMB 2.56 billion at the end of 2021[34] Cash and Borrowings - The net increase in cash and cash equivalents was ¥4,232.31 million, a 310.41% increase from ¥1,031.25 million in the previous year[14] - The company increased short-term borrowings by 270.99% to ¥10,205.52 million, reflecting a significant rise in bank loans[9] - Short-term borrowings surged to RMB 102.06 million as of March 31, 2022, compared to RMB 27.51 million at the end of 2021, marking an increase of about 270.73%[35] - The long-term borrowings increased to RMB 841.31 million as of March 31, 2022, compared to RMB 796.05 million at the end of 2021, showing an increase of approximately 5.68%[35] - The company has secured a loan of up to RMB 60 million for the development of the "Vivid Lotus" project, with a cumulative borrowing of RMB 30 million as of the report date[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 33,806[17] - The largest shareholder, Guilin Tourism Development Group Co., Ltd., holds 18.36% of shares, totaling 66,120,473 shares[17] - Guilin Airlines Tourism Group Co., Ltd. holds 16.00% of shares, totaling 57,616,000 shares, which are pledged[17] - The company plans to issue up to 10,803,000 shares at a price of 4.43 RMB per share, raising a maximum of 478.57 million RMB to repay bank loans[19] - The non-public offering of shares has been approved by the China Securities Regulatory Commission as of June 25, 2021[19] Operational Challenges - The company reported a 45% decrease in visitor reception, significantly impacting revenue due to COVID-19 restrictions[12] - The company incurred a loss of ¥41.11 million from the disposal of scrapped assets in its cruise division[6] Legal and Corporate Developments - The company is involved in litigation regarding a decision made at the 2020 second extraordinary general meeting, with the latest ruling upholding the original decision[23] - Guilin Danxia Hot Spring Tourism Co., Ltd. is undergoing bankruptcy liquidation, which has been approved by the company's board and shareholders[25] - The management of Danxia Hot Spring Company signed an auction confirmation with the buyer for a total of RMB 52 million for the assets, including land use rights and equipment[27] - As of April 15, 2022, the available bankruptcy assets for distribution amounted to RMB 52.9985 million, with a cash recovery of RMB 44.1534 million for Zijiang Danxia Company[28] Other Information - The company did not report any new product or technology developments during this quarter[36] - The first quarter report was not audited[40] - The Elephant Trunk Hill scenic area was announced to be fully open for free starting January 31, 2022, affecting the company's collaboration with its controlling shareholder[22] - The company reported a cash balance of RMB 111.66 million as of March 31, 2022, up from RMB 69.33 million at the end of 2021, reflecting a growth of approximately 60.91%[33]