跨境通(002640) - 2020 Q1 - 季度财报

Section I Important Notice](index=2&type=section&id=第一节%20重要提示) The board, supervisory board, and senior management guarantee the quarterly report's truthfulness and completeness, assuming legal responsibility - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, assuming legal responsibility[3] - The company's principal officer, head of accounting, and head of accounting department declare the financial statements are true, accurate, and complete[4] Section II Company Profile](index=3&type=section&id=第二节%20公司基本情况) This section outlines key accounting data and financial indicators, detailing total shareholders and top ten shareholders' holdings, including restricted and pledged shares I. Key Accounting Data and Financial Indicators Operating revenue decreased by 4.79% year-on-year, net profit attributable to shareholders significantly dropped by 41.08%, and net cash flow from operating activities turned negative, decreasing by 1312.00% Key Accounting Data and Financial Indicators for the Current Period | Indicator | Current Period (Yuan) | Prior Year Period (Yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 4,496,724,190.00 | 4,722,793,595.00 | -4.79% | | Net Profit Attributable to Shareholders of Listed Company | 131,287,959.44 | 222,835,795.71 | -41.08% | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-recurring Gains and Losses | 122,476,017.28 | 210,203,234.02 | -41.73% | | Net Cash Flow from Operating Activities | -647,021,277.65 | 53,384,632.35 | -1,312.00% | | Basic Earnings Per Share | 0.08 | 0.14 | -42.86% | | Diluted Earnings Per Share | 0.08 | 0.14 | -42.86% | | Weighted Average Return on Net Assets | 2.82% | 2.92% | -0.10% | Key Balance Sheet Indicators at Period-End | Indicator | End of Current Period (Yuan) | End of Prior Year (Yuan) | Change from End of Prior Year | | :--- | :--- | :--- | :--- | | Total Assets | 10,566,198,926.35 | 10,511,318,777.47 | 0.52% | | Net Assets Attributable to Shareholders of Listed Company | 4,739,501,900.30 | 4,576,280,371.72 | 3.57% | Non-recurring Gains and Losses Items and Amounts | Item | Amount from Year-Beginning to Period-End (Yuan) | | :--- | :--- | | Gains and Losses from Disposal of Non-current Assets | 20,408.25 | | Government Grants Included in Current Profit and Loss | 12,710,021.01 | | Other Non-operating Income and Expenses Apart from the Above | -1,666,052.92 | | Less: Income Tax Impact | 2,267,571.17 | | Impact of Minority Interests (After Tax) | -15,136.99 | | Total | 8,811,942.16 | II. Total Shareholders and Top Ten Shareholders' Holdings at Period-End As of period-end, the company had 60,541 accounts of common shareholders, with Yang Jianxin and Xu Jiadong as top two, holding 13.69% and 12.20% respectively, with most shares pledged or frozen - Total common shareholders at the end of the reporting period were 60,541 accounts[10] Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Holding Percentage | Number of Shares | Number of Restricted Shares | Pledged or Frozen Status (Shares/Quantity) | | :--- | :--- | :--- | :--- | :--- | :--- | | 杨建新 | Domestic Natural Person | 13.69% | 213,360,500 | 160,020,375 | Pledged: 211,587,600; Frozen: 213,360,500 | | 徐佳东 | Domestic Natural Person | 12.20% | 190,150,715 | 150,160,677 | Pledged: 183,289,417; Frozen: 190,150,715 | | 广州开发区新兴产业投资基金管理有限公司 | State-owned Legal Entity | 7.96% | 124,010,000 | 0 | Pledged: 62,000,000 | | 周敏 | Domestic Natural Person | 2.19% | 34,052,063 | 19,838,791 | None | | 应一城 | Domestic Natural Person | 2.15% | 33,489,993 | 0 | None | - Yang Jianxin is the actual controller of Xinyu Ruijing Enterprise Management Service Co., Ltd., holding 90.62% equity, indicating a related party relationship[11] Section III Significant Events](index=6&type=section&id=第三节%20重要事项) This section details reasons for changes in key financial data and discloses research activities, with other significant matters like share repurchases and investments being inapplicable or non-existent I. Changes and Reasons for Key Financial Data and Indicators During the Reporting Period Several financial indicators changed significantly, including other receivables increasing by 82.06%, accounts payable decreasing by 45.89%, and other payables increasing by 94.75%, while operating cash flow significantly decreased by 1312.00% due to untimely collections - Other receivables increased by 82.06% (312 million Yuan), primarily due to an increase in receivables from brand write-offs[14] - Accounts payable decreased by 45.89% (717 million Yuan), primarily due to payments to suppliers[14] - Other payables increased by 94.75% (784 million Yuan), primarily due to borrowings from shareholders[14] - Taxes and surcharges decreased by 44.35% year-on-year, primarily due to a decline in operating revenue caused by the epidemic[14] - Financial expenses decreased by 66.81% year-on-year, primarily due to the repayment of some borrowings[15] - Investment income increased by 120.32% year-on-year, primarily due to profit from associate company Shenzhen Cross-border Wing E-commerce Co., Ltd[15] - Credit impairment losses increased by 289.56% year-on-year, primarily due to the provision for doubtful accounts on receivables[15] - Net cash flow from operating activities decreased by 1312.00% year-on-year (700 million Yuan), primarily due to untimely platform collections affected by the epidemic[15] II. Progress of Significant Events, Their Impact, and Analysis of Solutions No significant event developments, impacts, or solutions required explanation during the reporting period - The company had no analysis or explanation of significant event progress, impact, or solutions during the reporting period[16] III. Unfulfilled Commitments by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company No overdue unfulfilled commitments from controlling shareholders, related parties, or the company during the reporting period - The company had no overdue unfulfilled commitments during the reporting period[16] IV. Securities Investment The company had no securities investments during the reporting period - The company had no securities investments during the reporting period[18] V. Wealth Management The company had no wealth management activities during the reporting period - The company had no wealth management activities during the reporting period[19] VI. Derivative Investments The company had no derivative investments during the reporting period - The company had no derivative investments during the reporting period[20] VII. Irregular External Guarantees The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[21] VIII. Non-operating Funds Occupied by Controlling Shareholder and Related Parties No non-operating funds were occupied by the controlling shareholder or related parties from the listed company during the reporting period - The company had no non-operating funds occupied by the controlling shareholder or its related parties during the reporting period[22] IX. Registration Form for Research, Communication, and Interview Activities During the Reporting Period The company conducted a site visit for institutional investors on January 8, 2020, with information disclosed on the Investor Relations platform Research Activities Received During the Reporting Period | Reception Date | Reception Method | Recipient Type | Research Overview Index | | :--- | :--- | :--- | :--- | | 2020 年 01 月 08 日 | Site Visit | Institutional Investor | Investor Relations Platform Cross-border E-commerce Research Activity Information 20200109 | Section IV Financial Statements](index=8&type=section&id=第四节%20财务报表) This section presents the unaudited consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2020, without new standard adoption I. Financial Statements This section includes the consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2020, presenting financial position, operating results, and cash flows 1. Consolidated Balance Sheet Consolidated total assets slightly increased by 0.52% to 10.566 billion Yuan as of March 31, 2020, with other receivables and payables significantly rising, while inventories and accounts payable decreased Consolidated Balance Sheet Key Item Changes (March 31, 2020 vs December 31, 2019) | Item | March 31, 2020 (Yuan) | December 31, 2019 (Yuan) | Change Amount (Yuan) | Change Percentage | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,130,675,891.85 | 1,244,674,254.37 | -113,998,362.52 | -9.16% | | Accounts Receivable | 1,526,110,774.95 | 1,165,141,154.20 | 360,969,620.75 | 30.98% | | Other Receivables | 692,151,606.76 | 380,174,592.20 | 311,977,014.56 | 82.06% | | Inventories | 2,600,813,341.36 | 3,036,486,124.14 | -435,672,782.78 | -14.35% | | Other Current Assets | 68,050,719.63 | 104,946,894.85 | -36,896,175.22 | -35.16% | | Short-term Borrowings | 1,453,582,900.36 | 1,500,811,221.53 | -47,228,321.17 | -3.15% | | Notes Payable | 93,949,892.64 | 138,738,858.86 | -44,788,966.22 | -32.28% | | Accounts Payable | 845,906,090.36 | 1,563,179,557.42 | -717,273,467.06 | -45.89% | | Advances from Customers | 88,183,018.65 | 138,472,764.31 | -50,289,745.66 | -36.32% | | Other Payables | 1,611,802,397.75 | 827,630,224.46 | 784,172,173.29 | 94.75% | | Total Liabilities | 5,851,837,365.36 | 5,948,811,991.78 | -96,974,626.42 | -1.63% | | Total Equity Attributable to Parent Company Owners | 4,739,501,900.30 | 4,576,280,371.72 | 163,221,528.58 | 3.57% | 2. Parent Company Balance Sheet Parent company total assets decreased by 0.90% to 7.302 billion Yuan as of March 31, 2020, with cash and cash equivalents significantly increasing, while other receivables and certain liabilities decreased Parent Company Balance Sheet Key Item Changes (March 31, 2020 vs December 31, 2019) | Item | March 31, 2020 (Yuan) | December 31, 2019 (Yuan) | Change Amount (Yuan) | Change Percentage | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 131,393,633.85 | 10,686,435.72 | 120,707,198.13 | 1129.49% | | Other Receivables | 823,852,960.26 | 1,013,942,720.56 | -190,089,760.30 | -18.75% | | Short-term Borrowings | 58,188,888.89 | 80,188,888.89 | -22,000,000.00 | -27.44% | | Non-current Liabilities Due Within One Year | 493,300,555.56 | 514,630,555.56 | -21,330,000.00 | -4.15% | | Retained Earnings | -2,647,388.35 | 19,685,478.00 | -22,332,866.35 | -113.45% | 3. Consolidated Income Statement Consolidated total operating revenue decreased by 4.79% to 4.497 billion Yuan, and net profit attributable to parent company owners significantly dropped by 41.08% to 131 million Yuan Consolidated Income Statement Key Item Changes (Current Period vs Prior Period) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | Change Amount (Yuan) | Change Percentage | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 4,496,724,190.00 | 4,722,793,595.00 | -226,069,405.00 | -4.79% | | Operating Cost | 3,008,528,996.43 | 2,677,997,163.33 | 330,531,833.10 | 12.34% | | Taxes and Surcharges | 1,490,709.00 | 2,678,598.40 | -1,187,889.40 | -44.35% | | Selling Expenses | 1,125,127,234.13 | 1,493,104,024.17 | -367,976,790.04 | -24.64% | | Administrative Expenses | 103,974,391.58 | 137,539,160.76 | -33,564,769.18 | -24.40% | | Financial Expenses | 27,867,179.15 | 83,965,212.29 | -56,098,033.14 | -66.81% | | Investment Income | 112,335.97 | -552,759.32 | 665,095.29 | 120.32% | | Credit Impairment Losses | -27,093,196.03 | -16,588,597.97 | -10,504,598.06 | 63.32% | | Asset Impairment Losses | -14,983,547.68 | -6,954,907.78 | -8,028,639.90 | 115.44% | | Net Profit Attributable to Parent Company Owners | 131,287,959.44 | 222,835,795.71 | -91,547,836.27 | -41.08% | | Basic Earnings Per Share | 0.08 | 0.14 | -0.06 | -42.86% | 4. Parent Company Income Statement Parent company operating revenue slightly decreased to 2.0707 million Yuan, resulting in an expanded net loss of 22.3329 million Yuan due to increased administrative and non-operating expenses Parent Company Income Statement Key Item Changes (Current Period vs Prior Period) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | Change Amount (Yuan) | Change Percentage | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 2,070,742.14 | 2,150,307.96 | -79,565.82 | -3.70% | | Administrative Expenses | 8,100,560.87 | 3,368,946.17 | 4,731,614.70 | 140.45% | | Financial Expenses | 14,114,607.05 | 15,853,854.68 | -1,739,247.63 | -10.97% | | Investment Income | 435,830.35 | -740,253.99 | 1,176,084.34 | 158.88% | | Non-operating Expenses | 1,812,839.71 | 0.00 | 1,812,839.71 | N/A | | Net Profit | -22,332,866.35 | -16,942,341.29 | -5,390,525.06 | 31.79% (Loss Widened) | 5. Consolidated Cash Flow Statement Net cash flow from operating activities significantly decreased by 1312.00% to -647 million Yuan from 53.38 million Yuan in the prior year, while net financing cash flow turned positive Consolidated Cash Flow Statement Key Item Changes (Current Period vs Prior Period) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | Change Amount (Yuan) | Change Percentage | | :--- | :--- | :--- | :--- | :--- | | Cash Received from Sales of Goods and Rendering of Services | 3,629,532,579.29 | 4,345,480,045.43 | -715,947,466.14 | -16.48% | | Net Cash Flow from Operating Activities | -647,021,277.65 | 53,384,632.35 | -700,405,910.00 | -1312.00% | | Subtotal of Cash Inflows from Investing Activities | 2,018,440.00 | 8,297,809.05 | -6,279,369.05 | -75.68% | | Subtotal of Cash Outflows from Investing Activities | 24,316,124.33 | 38,625,479.83 | -14,309,355.50 | -37.05% | | Net Cash Flow from Investing Activities | -22,297,684.33 | -30,327,670.78 | 8,029,986.45 | 26.48% (Loss Narrowed) | | Subtotal of Cash Inflows from Financing Activities | 1,738,263,360.98 | 1,452,892,732.57 | 285,370,628.41 | 19.64% | | Subtotal of Cash Outflows from Financing Activities | 1,166,564,134.92 | 1,638,764,333.15 | -472,200,198.23 | -28.82% | | Net Cash Flow from Financing Activities | 571,699,226.06 | -185,871,600.58 | 757,570,826.64 | 407.58% | | Net Increase in Cash and Cash Equivalents | -106,589,782.41 | -160,259,994.54 | 53,670,212.13 | 33.50% (Net Outflow Decreased) | 6. Parent Company Cash Flow Statement Parent company net cash flow from operating activities showed an expanded loss of -9.0872 million Yuan, with increased investing cash inflows and negative financing cash flow Parent Company Cash Flow Statement Key Item Changes (Current Period vs Prior Period) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | Change Amount (Yuan) | Change Percentage | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -9,087,206.20 | -3,811,976.61 | -5,275,229.59 | 138.39% (Loss Widened) | | Subtotal of Cash Inflows from Investing Activities | 198,840,410.00 | 95,561,774.40 | 103,278,635.60 | 108.08% | | Net Cash Flow from Investing Activities | 196,448,896.00 | -34,578,225.60 | 231,027,121.60 | 668.09% | | Net Cash Flow from Financing Activities | -66,654,491.67 | 37,899,479.43 | -104,553,971.10 | -275.90% | | Net Increase in Cash and Cash Equivalents | 120,707,198.13 | -490,722.78 | 121,197,920.91 | 24698.00% | II. Explanation of Financial Statement Adjustments The company did not adopt new revenue or lease standards for the first time, thus no retrospective adjustments to prior comparative data were made - The company did not adopt new revenue or lease standards for the first time during the reporting period, thus no financial statement adjustments were made[51][52] III. Audit Report The company's first quarter report is unaudited - The company's first quarter report is unaudited[52]