AVIT(SZ:300264)2019-04-26 16:00Financial Performance - Total revenue for Q1 2019 was ¥31,715,465.44, a decrease of 63.83% compared to ¥87,687,565.06 in the same period last year[9]. - Net profit attributable to shareholders was -¥11,389,402.85, representing a decline of 258.58% from a profit of ¥7,182,033.85 in the previous year[9]. - Basic and diluted earnings per share were both -¥0.03, down 250.00% from ¥0.0200 in the same period last year[9]. - The company reported a significant decrease in operating income due to industry-specific factors, including the impact of the CCBN exhibition and project delays[16]. - In Q1 2019, the company achieved operating revenue of 31.72 million yuan, a decrease of 63.83% year-on-year[19]. - The net profit attributable to shareholders was -11.39 million yuan, a decrease of 258.58% year-on-year, primarily due to the impact of the broadcasting industry during the annual Two Sessions[19]. - The company reported a net cash flow from operating activities of -19.49 million yuan, an increase of 65.43% year-on-year, attributed to enhanced collection of accounts receivable[20]. - The company reported a total of ¥3,353,985.46 in surplus funds (including interest income) returned to the over-raised funds special account as of June 30, 2016[34]. - The total comprehensive loss for the current period is ¥12,163,369.41, compared to a comprehensive income of ¥6,989,638.98 in the previous period[52]. Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥19,487,920.37, a 65.43% increase compared to -¥56,373,473.63 in the previous year[9]. - Cash and cash equivalents at the end of the period were ¥30,756,400, down 42.36% from the beginning of the year[16]. - As of March 31, 2019, the company's cash and cash equivalents decreased to ¥30,756,441.23 from ¥53,360,903.88 as of December 31, 2018, representing a decline of approximately 42.5%[40]. - The ending cash and cash equivalents balance was CNY 30,756,441.23, down from CNY 98,085,283.53 in the prior period[60]. - The company reported a total cash and cash equivalents decrease of CNY -22,604,462.65 during the period[60]. Assets and Liabilities - Total assets at the end of the reporting period were ¥790,419,555.31, a decrease of 1.85% from ¥805,280,253.97 at the end of the previous year[9]. - The net assets attributable to shareholders decreased by 2.05% to ¥536,840,849.59 from ¥548,072,221.39 at the end of the previous year[9]. - Total liabilities decreased from CNY 252,583,136.29 to CNY 249,885,807.04, a reduction of about 1.03%[42]. - Owner's equity decreased from CNY 552,697,117.68 to CNY 540,533,748.27, a decline of approximately 2.09%[43]. Investment and Development - The company is focusing on the development of new technologies and products in the video-related field, including 4K, 8K, 5G, and AI[18]. - The company plans to continue investing in quality assets in cultural media, gaming, VR video, and education content in 2019[24]. - The company invested a total of RMB 100 million in Beijing Youpeng Puluo Technology Co., holding a 4.7180% stake[25]. - The company has approved the use of up to 180 million RMB of idle self-owned funds and 130 million RMB of raised funds for purchasing short-term guaranteed financial products[32]. Operational Challenges - The company has faced challenges in achieving expected benefits from certain projects due to industry slowdowns, but anticipates future revenue growth as technology matures[31]. - The company is facing risks related to technological innovation in the virtual reality sector, including potential delays in development cycles and unproven business models[22]. - The company experienced a significant increase in financial expenses, with interest expenses remaining stable at approximately ¥733,885.71[49]. Fund Management and Compliance - The company has committed to avoiding any business that competes with its operations, ensuring no conflicts of interest arise[27]. - The company has made commitments regarding the use of raised funds, which are being adhered to[28]. - The company has not reported any issues regarding the use and disclosure of raised funds during the reporting period[34]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[36].