LANCY(002612)2020-04-29 16:00Financial Performance - The company's revenue for Q1 2020 was ¥586,527,134.59, representing a decrease of 18.74% compared to ¥721,769,552.24 in the same period last year[8]. - The net profit attributable to shareholders was -¥3,174,066.09, a decline of 106.02% from ¥52,767,437.94 in the previous year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥9,763,092.44, down 119.33% from ¥50,507,597.25 year-on-year[8]. - The basic and diluted earnings per share were both -¥0.0073, a decrease of 105.53% from ¥0.1319 in the same period last year[8]. - The total operating revenue for the first quarter of 2020 was CNY 586,527,134.59, a decrease from CNY 721,769,552.24 in the previous period[52]. - The net profit for the first quarter was a loss of ¥21,957,125.49, compared to a profit of ¥58,248,471.28 in the same period last year[59]. - The total comprehensive income for the first quarter was a loss of ¥31,873,355.48, compared to a profit of ¥46,590,218.41 in the same period last year[59]. - The total profit for the first quarter was a loss of ¥25,356,250.75, compared to a profit of ¥69,289,044.37 in the same period last year[59]. Cash Flow and Assets - The net cash flow from operating activities increased by 30.58% to ¥208,554,894.70, compared to ¥159,720,255.45 in the same period last year[8]. - Cash and cash equivalents increased by 77.18% compared to the beginning of the period, mainly due to the completion of fundraising related to asset acquisition[18]. - The total assets at the end of the reporting period were ¥5,250,299,021.90, a decrease of 0.92% from ¥5,298,938,738.35 at the end of the previous year[8]. - The company's cash and cash equivalents stood at approximately 166.28 million RMB, a decrease from 93.85 million RMB in the previous period[40]. - The total cash and cash equivalents at the end of the period amounted to 166,282,393.62 CNY, compared to 258,460,688.99 CNY in the previous period, reflecting a decrease of about 35.7%[69]. - The cash flow from financing activities showed a net inflow of 55,115,723.64 CNY, compared to 30,040,000.00 CNY in the previous period, indicating an increase of approximately 83.4%[69]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,478[11]. - The largest shareholder, Shen Dongri, holds 48.63% of the shares, amounting to 211,559,098 shares, with a portion pledged[11]. - The company’s major shareholders have pledged that during their tenure, they will not transfer more than 25% of their total shareholdings each year[28]. - The company has committed to ensuring that any stock sales by major shareholders will not exceed 50% of their total shareholdings within twelve months after six months[28]. Operational Changes and Commitments - The company reported non-operating income of ¥6,589,026.35, which includes gains from the disposal of non-current assets and government subsidies[8]. - The company reported a commitment to avoid any actions that could affect its business independence, asset independence, personnel independence, financial independence, and organizational independence[24]. - The actual controllers of the company, Shen Dongri and Shen Jinhua, committed to not engage in any business activities that compete with the company, both currently and in the future[26]. - The company aims to reduce and standardize related party transactions, ensuring that any necessary transactions are conducted fairly and at market prices[26]. - The company has a long-term commitment to maintaining good performance and compliance with its obligations[24]. Impact of COVID-19 - The company experienced a decline in women's clothing business due to the impact of the COVID-19 pandemic, leading to overall losses in the first half of 2020[29]. - Accounts receivable decreased by 29.67% compared to the beginning of the period, largely due to reduced revenue from the impact of COVID-19[18]. - Prepayments decreased by 47.39% compared to the beginning of the period, as the company controlled procurement volume due to COVID-19[18]. - Tax expenses decreased by 38.06% year-on-year, mainly due to a decline in women's clothing sales revenue[18]. Research and Development - Research and development expenses increased to CNY 23,276,627.06 from CNY 15,726,350.63 year-over-year[54]. - Research and development expenses for the first quarter were ¥7,528,144.28, a slight decrease from ¥8,083,149.11 in the previous year[59].