ST易购(002024) - 2020 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2020 was CNY 57,839,184, a decrease of 7.07% compared to the same period last year[3]. - The net profit attributable to shareholders of the listed company was a loss of CNY 550,949, a decline of 505.45% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 500,367, an improvement of 49.49% compared to the same period last year[3]. - The net cash flow from operating activities was a loss of CNY 3,925,437, which improved by 32.52% year-on-year[3]. - The total assets at the end of the reporting period were CNY 225,996,595, a decrease of 4.58% from the end of the previous year[3]. - The weighted average return on net assets was -0.63%, a decrease of 0.80% compared to the same period last year[3]. - The basic earnings per share for the reporting period was -CNY 0.0592, a decrease of 502.72% year-on-year[3]. - The company's revenue for Q1 2020 was CNY 57,839,184, a decrease of 7.07% compared to CNY 62,241,506 in Q1 2019[19]. - The net profit attributable to shareholders for Q1 2020 was a loss of CNY 550,949, a decline of 505.45% from a profit of CNY 135,885 in Q1 2019[19]. - The company's operating expenses decreased by 0.74% year-on-year, reflecting strict cost control measures[20]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 345,686[8]. - The top three shareholders held a combined 60.94% of the shares, with Zhang Jindong holding 20.96%[9]. - The company held 65,919,578 shares under the second employee stock ownership plan, accounting for 0.71% of the total share capital as of March 31, 2020[28]. - As of March 31, 2020, the employee stock ownership plan held 73,070,874 shares, accounting for 0.78% of the company's total share capital[30]. - The company has repurchased a total of 34,703,900 shares, representing 0.37% of the total share capital, with a total payment of approximately 354.84 million RMB[34][35]. Operational Highlights - The company's online platform transaction scale reached RMB 61.040 billion (including tax), representing a year-on-year growth of 12.78%[13]. - The number of registered members reached 578 million by March 31, 2020, with a year-on-year increase in monthly active users of 36.87%[13]. - Fast-moving consumer goods (FMCG) sales grew significantly, with a year-on-year increase of 167.99% in Q1 2020[13]. - The company opened 466 new retail cloud franchise stores while closing 561 direct stores, resulting in a total of 4,963 retail cloud franchise stores by March 31, 2020[16]. - The sales scale of the company's open platform increased by 49.05% year-on-year, reaching RMB 24.168 billion (including tax)[13]. - The company implemented various consumer stimulation measures, including 24-month interest-free installment plans and the issuance of consumption vouchers[13]. - The company’s logistics services maintained operations during the pandemic, with "1-hour delivery" services covering 217 stores by March 31, 2020[15]. - The overall sales scale of goods increased by 2.01% year-on-year, with a growth of 4.8% in mainland China[15]. Challenges and Market Conditions - The company faced significant challenges due to the COVID-19 pandemic, with retail sales of home appliances and audio-visual equipment declining by 29.9% year-on-year[11]. - Comparable store sales for the home appliance and 3C home life specialty stores decreased by 42.60% year-on-year due to the impact of the pandemic[18]. - The comparable store sales for the Red Baby maternal and infant stores fell by 20.91% year-on-year, also affected by the pandemic[18]. Cash Flow and Investments - The net cash flow from investment activities increased by 112.30% year-on-year, primarily due to the redemption of maturing investment products[27]. - The company’s short-term borrowings increased by 32.78% to CNY 25,169,019 as of March 31, 2020, compared to CNY 18,954,821 at the end of 2019[22]. - Other income increased by 656.73% year-on-year, mainly due to government subsidies received during the reporting period[21]. - The company’s investment in securities includes a total initial investment cost of approximately 4.16 million RMB in Huatai Securities, with a fair value change loss of 393,214 RMB reported[37]. - The company’s investment strategy includes using self-owned funds for risk investments, with approvals from the board of directors for increasing investment limits[36]. Assets and Liabilities - As of March 31, 2020, total current assets amounted to 109,645.32 million RMB, a decrease from 120,761.47 million RMB at the end of 2019[43]. - Cash and cash equivalents were reported at 31,063.35 million RMB, down from 33,902.22 million RMB at the end of 2019[43]. - Short-term borrowings increased to 25,169.02 million RMB from 18,954.82 million RMB at the end of 2019[43]. - The company reported a total asset value of 225,996.60 million RMB, down from 236,855.05 million RMB at the end of 2019[43]. - The total liabilities decreased to 139,644,612 thousand yuan in Q1 2020 from 149,710,232 thousand yuan in Q4 2019, a reduction of 6.9%[44]. - The total assets as of March 31, 2020, were 225,996,595 thousand yuan, down from 236,855,045 thousand yuan at the end of 2019, a decrease of 4.0%[44]. Research and Development - Research and development expenses for Q1 2020 were 773,031 thousand yuan, compared to 862,687 thousand yuan in Q1 2019, a decrease of 10.4%[47]. - Research and development expenses significantly decreased to CNY 32,884 from CNY 141,275 in the previous period, reflecting a reduction in investment in innovation[50]. Miscellaneous - The first quarter report for 2020 was not audited[63].