CTV Media(SH:600088)2024-04-26 07:54Financial Performance - The company's operating revenue for Q1 2024 was CNY 108,613,659.07, representing a decrease of 28.14% compared to the same period last year[4] - Net profit attributable to shareholders of the listed company was CNY 10,383,981.15, an increase of 173.40% year-on-year[4] - Basic and diluted earnings per share were both CNY 0.026, reflecting a 160.00% increase compared to the previous year[4] - Total operating revenue for Q1 2024 was ¥108,613,659.07, a decrease of 28.2% compared to ¥151,143,412.43 in Q1 2023[18] - Net profit for Q1 2024 reached ¥9,559,480.54, an increase of 244.5% compared to ¥2,781,552.49 in Q1 2023[21] - Earnings per share for Q1 2024 were ¥0.026, up from ¥0.010 in Q1 2023[21] - The total comprehensive income for Q1 2024 was ¥9,559,480.54, significantly higher than ¥2,781,552.49 in Q1 2023[21] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,644,719,486.02, a decrease of 3.17% from the end of the previous year[4] - As of March 31, 2024, the company's total assets amounted to RMB 1,644,719,486.02, a decrease from RMB 1,698,626,007.88 as of December 31, 2023, reflecting a decline of approximately 3.2%[14] - Total liabilities as of Q1 2024 amounted to ¥341,466,296.87, compared to ¥404,932,299.27 in the previous period[20] - Current liabilities decreased to RMB 243,541,300.83 from RMB 304,910,600.76, a reduction of approximately 20%[15] Cash Flow - The net cash flow from operating activities was negative at CNY -139,061,068.24, indicating a significant cash outflow[4] - The net cash flow from operating activities was -$139.06 million, compared to -$104.25 million in the previous quarter, indicating a decline of approximately 33.4%[24] - Total cash inflow from operating activities was $140.00 million, while cash outflow was $279.06 million, resulting in a net cash flow deficit[24] - Cash and cash equivalents at the end of the period stood at $477.36 million, down from $516.73 million in the previous quarter, reflecting a decrease of about 7.5%[25] - The net increase in cash and cash equivalents was -$142.14 million, compared to -$102.44 million in the previous quarter, indicating a worsening cash position[25] Inventory and Receivables - The company experienced a significant increase in inventory, up 185.34%, attributed to the growth in film business inventory[7] - Inventory increased significantly to RMB 130,987,519.95 from RMB 45,905,059.02, marking an increase of about 185%[14] - Accounts receivable decreased slightly to RMB 90,957,468.31 from RMB 95,725,988.24, indicating a reduction of approximately 5%[14] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 59,588[10] - The largest shareholder, China Central Television Wuxi Taihu Film City Co., Ltd., held 54.37% of the shares[10] Strategic Initiatives - The company disclosed the completion of the transfer of state-owned equity from the controlling shareholder, which is expected to impact future operations positively[12] - The board approved the proposal for related party transactions for the fiscal year 2024, which will involve transactions with the Central Broadcasting Television General Station and its subsidiaries[12] - The company is focusing on expanding its market presence and enhancing its product offerings through strategic partnerships and potential acquisitions[12] - The company plans to continue investing in new technologies and product development to drive future growth and improve operational efficiency[12] Costs and Expenses - Total operating costs for Q1 2024 were ¥112,322,606.42, down 26.4% from ¥152,568,445.31 in Q1 2023[20] - The company reported an investment income of ¥10,193,665.76 in Q1 2024, compared to a loss of ¥855,313.21 in Q1 2023[20] - Payments to employees amounted to $126.11 million, slightly up from $123.47 million in the previous quarter, reflecting an increase of about 2.0%[24] - The company paid $14.64 million in taxes, which is an increase of approximately 42.5% compared to $10.32 million in the previous quarter[24]