CYTS(SH:600138)2024-04-29 09:49Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,922,317,820.37, representing a 15.96% increase compared to CNY 1,657,756,086.53 in the same period last year[5]. - The net profit attributable to shareholders was a loss of CNY 28,998,995.53, worsening from a loss of CNY 4,801,532.12 in the previous year[5]. - The cash flow from operating activities showed a positive net amount of CNY 29,529,653.16, a significant recovery from a negative cash flow of CNY -56,478,835.01 in the same period last year[5]. - The total assets at the end of the reporting period were CNY 16,678,647,320.95, down 3.52% from CNY 17,286,872,735.63 at the end of the previous year[5]. - The weighted average return on net assets decreased to -0.4677% from -0.0800% in the previous year, a decline of 0.39 percentage points[5]. - The company reported a basic and diluted earnings per share of CNY -0.0401, compared to CNY -0.0066 in the same period last year[5]. - In Q1 2024, the company reported a net loss of CNY 49,577,083.22, compared to a net loss of CNY 15,559,326.43 in Q1 2023, indicating a significant decline in profitability[25]. - The total comprehensive income for Q1 2024 was CNY -48,923,521.57, compared to CNY -17,034,584.70 in the same period last year, reflecting worsening financial performance[26]. - The company reported a net profit margin of approximately -0.8% for Q1 2024, compared to a positive margin in Q1 2023[24]. - The company reported a total operating profit of CNY -28,891,042.47 in Q1 2024, down from CNY 5,558,604.76 in Q1 2023, reflecting operational challenges[25]. Revenue and Growth - The travel agency segment experienced significant revenue growth, contributing to the overall increase in operating revenue[7]. - The company achieved operating revenue of RMB 1.922 billion, representing a year-on-year growth of 15.96%[13]. - The Wuzhen Scenic Area received 1.4794 million visitors, a year-on-year increase of 16.11%, generating revenue of RMB 357 million, up 7.93%[14]. - The Gubei Water Town saw a decline in visitors to 183,000, down 26.38%, with revenue falling to RMB 112 million, a decrease of 32.16%[15]. - The company’s integrated marketing business reported revenue of RMB 322 million, a year-on-year increase of 35.03%[16]. - The travel agency segment experienced significant growth, with revenue increasing by 929% during the Spring Festival period compared to the previous year[17]. Costs and Expenses - Total operating costs for Q1 2024 were ¥1,937,347,708.79, up from ¥1,654,200,113.01 in Q1 2023, reflecting a year-over-year increase of 17.2%[24]. - Research and development expenses for Q1 2024 were ¥1,819,257.48, down from ¥2,397,214.28 in Q1 2023, a decrease of 24.1%[24]. - The company’s financial expenses decreased from CNY 6,260,737.42 in Q1 2023 to CNY 5,014,404.54 in Q1 2024, a reduction of approximately 19.9%[34]. Cash Flow and Liquidity - The company's cash and cash equivalents decreased to ¥1,043,386,962.62 from ¥1,224,214,542.66 as of December 31, 2023, a decline of 14.7%[20]. - The cash and cash equivalents at the end of Q1 2024 stood at CNY 1,040,542,376.29, compared to CNY 973,410,303.13 at the end of Q1 2023, showing a slight increase in liquidity[29]. - The company generated CNY 2,503,173,114.35 in cash from sales and services in Q1 2024, up from CNY 1,981,114,397.16 in Q1 2023, representing a growth of approximately 26.3%[28]. - The company incurred a credit impairment loss of CNY -194,799.06 in Q1 2024, compared to CNY -1,361,051.60 in Q1 2023, indicating improved credit risk management[25]. - The company reported a total cash outflow from operating activities of 41,531,329.47 RMB, significantly lower than 360,824,671.44 RMB in the previous year[36]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 76,540[9]. - The largest shareholder, China Youth Travel Group Co., Ltd., holds 124,305,000 shares, accounting for 17.17% of the total shares[9]. Strategic Initiatives - The company is expanding its outbound tourism offerings, targeting over 100 countries and regions with new travel products[16]. - The strategic investment segment provided stable income and profit contributions, with a focus on cost management and risk control[17]. - The company plans to enhance its market competitiveness through new business models and product offerings in 2024[15].