COSHIP(002052)2024-04-28 07:52Financial Performance - The company's operating revenue for Q1 2024 was ¥41,112,780.64, a decrease of 56.92% compared to ¥95,439,346.62 in the same period last year[4] - The net loss attributable to shareholders was ¥4,153,922.10, showing a slight improvement of 1.10% from a loss of ¥4,200,280.56 in the previous year[4] - The net cash flow from operating activities decreased by 77.05%, amounting to ¥1,974,226.68 compared to ¥8,601,262.89 in the previous year[4] - The weighted average return on net assets dropped to -59.56%, a decrease of 54.46% compared to -5.10% in the previous year[4] - The company experienced a 66.71% decrease in net profit attributable to shareholders after deducting non-recurring gains and losses, primarily due to increased operating losses[8] - Net loss for Q1 2024 was CNY 6,568,034.00, compared to a net loss of CNY 5,010,477.24 in Q1 2023, indicating a worsening of 31.1%[22] - The total comprehensive loss for Q1 2024 was CNY 6,568,034.00, compared to a loss of CNY 5,010,477.24 in Q1 2023, reflecting a decline of 31.1%[22] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥378,814,343.43, a decrease of 2.40% from ¥388,110,230.91 at the end of the previous year[4] - The company's total liabilities decreased to CNY 390,458,448.77 from CNY 394,593,016.50, a reduction of 1.1%[18] - The equity attributable to shareholders decreased by 34.89%, from ¥8,447,504.14 to ¥5,500,296.28[4] - The company's total equity attributable to shareholders was CNY 5,500,296.28, down from CNY 8,447,504.14, a decline of 34.6%[18] Cash Flow - The company's cash and cash equivalents decreased from 11,034,570.70 RMB to 4,879,322.25 RMB, a decline of approximately 56%[16] - Cash inflow from operating activities was CNY 47,286,537.67, down 33.8% from CNY 71,525,443.86 in the previous year[23] - The net cash flow from operating activities for Q1 2024 was CNY 1,974,226.68, a decrease of 77% compared to CNY 8,601,262.89 in Q1 2023[24] - Total cash outflow from operating activities amounted to CNY 45,312,310.99, down from CNY 62,924,180.97 in the previous year, indicating a reduction of approximately 28%[24] - The total cash and cash equivalents at the end of Q1 2024 were CNY 4,705,015.90, a decrease of 84% from CNY 29,014,982.14 at the end of Q1 2023[24] - The company reported a cash outflow of CNY 5,984,722.63 for the quarter, contrasting with a cash inflow of CNY 6,727,342.96 in the same period last year[24] Shareholder Information - The first major shareholder, Yuan Ming, holds 123,107,038 shares, accounting for 16.50% of the total share capital[13] - The first major shareholder's shares have been judicially frozen since May 25, 2020, with a freeze period lasting until May 24, 2026[13] - The company has not been able to contact its first major shareholder since August 10, 2020, raising concerns about governance[12] Other Financial Metrics - The company's inventory decreased by 38.59% compared to the beginning of the period, attributed to sales of inventory[8] - Accounts receivable increased from 69,514,354.86 RMB to 82,796,601.44 RMB, representing a growth of about 19%[16] - The company reported a significant increase in accounts payable from 36,397,244.66 RMB to 44,096,287.08 RMB, an increase of approximately 21%[17] - Research and development expenses for Q1 2024 were CNY 3,524,277.46, a decrease of 7.6% compared to CNY 3,812,940.17 in Q1 2023[21] - Sales expenses increased to CNY 2,754,276.33, up 18.2% from CNY 2,329,112.79 in the previous year[21] Corporate Actions - The company is undergoing a major asset restructuring, pending approval from the board and relevant authorities[14] - The company has recorded estimated liabilities due to ongoing investor lawsuits, which may increase if more lawsuits are filed[14] - The company has not undergone an audit for the Q1 2024 report[25] - The report was released by the board of directors on April 29, 2024[26]