Net263(SZ:002467)2020-04-29 16:00Financial Performance - The company's operating revenue for Q1 2020 was CNY 247,129,628, a decrease of 5.84% compared to the same period last year[8]. - The total profit increased by 29.62% year-on-year, primarily due to growth in corporate meetings and live streaming services amid the pandemic, along with government social security exemptions[8]. - The net profit attributable to shareholders decreased by 3.46% year-on-year, mainly due to the recognition of deferred tax assets in the previous year[8]. - The net cash flow from operating activities was CNY 25,114,823, down 38.86% from the previous year[8]. - Total operating revenue for Q1 2020 was CNY 247,129,628, a decrease of 5.1% from CNY 262,463,173.80 in Q4 2019[57]. - Net profit for Q1 2020 was CNY 36,301,854.24, a slight decrease of 1.9% compared to CNY 36,987,553.09 in Q4 2019[57]. - Total operating costs decreased to CNY 211,161,025.24, down 8.4% from CNY 230,442,600.81 in Q4 2019[57]. - Operating profit turned negative at -¥6,724,520.01 compared to a loss of -¥286,293.75 in the previous period[65]. - Net profit for the period was -¥4,539,218.57, a significant decrease from a profit of ¥9,450,983.09 in the same period last year[65]. - Comprehensive income totalled -¥4,539,218.57, down from ¥9,450,983.09 year-over-year[65]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,761,240,329.35, an increase of 1.94% from the end of the previous year[8]. - The total liabilities increased to CNY 662,338,136.01 from CNY 653,172,100.75 at the end of 2019, reflecting a rise of 1.8%[53]. - The company's total assets as of March 31, 2020, were CNY 2,532,848,836.17, a marginal increase from CNY 2,526,758,271.21 at the end of 2019[50]. - The total assets increased slightly from ¥2,708,651,589.48 to ¥2,712,587,831.46[79]. - The total liabilities rose from ¥559,763,245.68 to ¥563,963,852.54, indicating an increase of ¥4,200,606.86[81]. - The company recognized accounts receivable of ¥100,569,283.13 and contract assets of ¥58,599,933.20 due to the new revenue recognition standards[83]. - The company reported a total of ¥208,815,635.98 in contract liabilities, reflecting obligations to transfer goods to customers[83]. Shareholder Information - The net assets attributable to shareholders increased by 2.01% to CNY 2,104,091,406.86 compared to the end of the previous year[8]. - The total number of shareholders at the end of the reporting period was 161,773[15]. - The equity attributable to shareholders of the parent company rose to CNY 1,870,510,700.16, compared to CNY 1,873,586,170.46 at the end of 2019[53]. - The company's equity attributable to shareholders decreased by ¥264,364.88, from ¥2,062,692,811.76 to ¥2,062,428,446.88[81]. Cash Flow and Investments - Cash and cash equivalents decreased to CNY 56,886,010.12 from CNY 80,606,353.02 at the end of 2019, a decline of 29.5%[50]. - Cash flow from operating activities generated a net inflow of ¥25,114,823.31, down from ¥41,078,463.72 in the previous period[69]. - Investment activities resulted in a net cash outflow of -¥29,227,695.79, compared to a net inflow of ¥41,912,908.41 in the previous period[69]. - The company reported a significant increase in other income, which rose by 101395.56% to ¥4,708,977.97, driven by government subsidies related to social security reductions due to the pandemic[23]. - The company reported an investment income of CNY 2,879,397.39, compared to a loss of CNY 124,433.69 in Q4 2019[57]. Research and Development - Research and development expenses for Q1 2020 were CNY 27,818,574.88, down from CNY 29,431,963.75 in Q4 2019, indicating a reduction of 5.5%[57]. - The company reported a significant increase in research and development expenses to ¥1,980,109.87, indicating a focus on innovation[62]. Government Support - The company received government subsidies amounting to CNY 4,769,937.57 during the reporting period[10]. - The company confirmed a bad debt provision for accounts receivable amounting to ¥9,833,611.29 and for contract assets amounting to ¥5,366,154.47[83]. Other Financial Metrics - The basic and diluted earnings per share for the period were both CNY 0.03, unchanged from the previous year[8]. - The weighted average return on equity was 1.71%, a decrease of 0.26% from the previous year[8]. - Financial expenses rose by 135.02% to ¥734,073.29, mainly due to a decrease in interest income from fixed-rate structured deposits[23]. - The company plans to expand its market presence and enhance product offerings through strategic investments and partnerships[64]. - The first quarter report for 2020 was not audited[91].