久其软件(002279) - 2019 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2019 was ¥522,758,320.57, representing a 25.01% increase compared to ¥418,189,044.75 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥59,221,556.61, a significant decline from a profit of ¥7,448,361.08 in the previous year[8] - The net cash flow from operating activities was a negative ¥213,063,496.02, an improvement from a negative ¥254,623,092.80 in the same period last year[8] - The basic and diluted earnings per share were both -¥0.0833, compared to ¥0.0105 in the same period last year[8] - The weighted average return on equity was -5.36%, a decrease of 5.64% from 0.28% in the previous year[8] - The company reported a significant net loss due to an asset impairment provision of CNY 1.08 billion related to goodwill from acquisitions[17] - Net loss for Q1 2019 amounted to CNY 65.21 million, compared to a net profit of CNY 18.91 million in Q1 2018[39] - The net loss for the current period was ¥48,158,101.90, compared to a net loss of ¥40,302,760.25 in the previous period, indicating a deterioration in profitability[43] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,936,502,783.74, down 10.39% from ¥3,277,058,167.32 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 5.79%, from ¥1,133,828,543.29 to ¥1,068,236,046.48[8] - Total liabilities decreased from 2,110,488,979.18 yuan to 1,841,514,273.12 yuan, a reduction of about 12.7%[30] - The company's total equity decreased from 1,166,569,188.14 yuan to 1,094,988,510.62 yuan, a decline of about 6.1%[31] - The company's long-term borrowings increased to CNY 386.11 million, up from CNY 252.00 million at the end of 2018[35] Cash Flow - Cash and cash equivalents decreased by 38.94% to CNY 484.75 million, primarily due to the payment for the acquisition of 49% equity in Shanghai Yitong[15] - The company's cash and cash equivalents decreased from 793,917,307.25 yuan on December 31, 2018, to 484,747,316.59 yuan on March 31, 2019, representing a decline of approximately 39%[28] - The ending cash and cash equivalents balance decreased to ¥462,967,270.18 from ¥1,298,527,787.24, reflecting a significant reduction of 64.3%[47] - Cash inflow from financing activities amounted to ¥218,000,000.00, with cash outflow totaling ¥66,861,286.77, resulting in a net cash flow of ¥151,138,713.23[50] Shareholder Information - The company had a total of 49,406 common shareholders at the end of the reporting period[11] - The largest shareholder, Beijing Jiuxi Technology Investment Co., Ltd., held 23.13% of the shares, amounting to 164,527,890 shares[11] - As of March 31, 2019, the company repurchased a total of 901,100 shares, accounting for 0.1267% of the total share capital, with a total transaction amount of 7,997,567.30 yuan[21] - The company has initiated a share repurchase plan with a total budget of up to CNY 120 million, with a maximum repurchase price of CNY 10 per share[20] Operational Challenges - The company is facing operational risks due to legal issues involving Shanghai Yitong, which may impact its business continuity[16] - The company reported non-recurring losses totaling ¥2,084,244.82 during the reporting period[9] Expenses - Operating costs increased by 58.83% to CNY 397.09 million, mainly due to higher media resource purchases for digital communication business expansion[15] - Management expenses increased by 37.55% to CNY 87.77 million, primarily due to increased employee compensation[15] - Research and development expenses increased to CNY 70.76 million, a rise of 24.4% from CNY 56.92 million in the same period last year[37] Miscellaneous - The company did not undergo an audit for the first quarter report[52] - The report does not apply to the new financial instruments, revenue, and leasing standards adjustments[52] - The company’s legal representative is Zhao Fujun[53]