万达电影(002739) - 2024 Q1 - 季度财报

Financial Performance - Total revenue for Q1 2024 was CNY 3,821,260,847.55, representing a 1.70% increase compared to CNY 3,757,516,467.53 in the same period last year[3] - Net profit attributable to shareholders was CNY 325,869,861.80, up 3.25% from CNY 315,625,516.33 year-on-year[3] - Net profit after deducting non-recurring gains and losses decreased by 15.31% to CNY 307,099,153.65 from CNY 362,629,023.09 in the previous year[3] - Total comprehensive income for Q1 2024 was 201,369,182.68 CNY, down from 249,551,021.52 CNY in Q1 2023, indicating a decline of approximately 19.3%[19] - The company reported a basic earnings per share of 0.1495 CNY for Q1 2024, slightly up from 0.1448 CNY in Q1 2023[19] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -45,642,476.63, a significant decline from CNY 1,591,690,795.18 in the same period last year[3] - Cash inflow from financing activities was 769,500,000.00 CNY in Q1 2024, a decrease from 1,701,000,000.00 CNY in Q1 2023, representing a decline of approximately 54.7%[21] - The total cash and cash equivalents at the end of Q1 2024 were 1,719,192,958.52, down from 3,594,210,106.72 at the end of Q1 2023, reflecting a decrease of approximately 52.2%[22] - The cash and cash equivalents net increase for Q1 2024 was -1,373,414,511.54, contrasting with an increase of 822,538,513.80 in Q1 2023[22] - The total cash outflow from financing activities was 1,949,882,034.20 in Q1 2024, down from 2,298,946,337.01 in Q1 2023, indicating a decrease of about 15.2%[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 24,117,833,603.17, down 4.01% from CNY 25,125,323,360.13 at the end of the previous year[3] - The total liabilities decreased to ¥15,741,096,240.80 from ¥16,949,955,180.44, indicating a reduction of about 7.1%[17] - Cash and cash equivalents decreased by 44.13% to CNY 1,764,170,954.04 from CNY 3,157,910,977.92 at the end of the previous year[6] - Accounts receivable increased to ¥1,673,405,294.77 from ¥1,624,617,950.02, showing a growth of about 3%[15] - Inventory increased by 48.60% to CNY 2,220,059,778.28, primarily due to increased film investments[6] Tax and Expenses - The company reported a significant increase in income tax expenses, which rose by 261.95% to CNY 23,491,776.17 from CNY 6,490,259.36 in the previous year[6] - Operating costs for Q1 2024 totaled 3,476,631,352.27 CNY, up from 3,391,925,681.56 CNY in Q1 2023, reflecting an increase of approximately 2.5%[18] - Research and development expenses decreased by 33.48% to CNY 4,574,363.38 compared to CNY 6,876,614.37 in the previous year[6] Market Performance - In Q1 2024, China's box office reached RMB 16.35 billion, a year-on-year increase of 3.0%, with 360 million admissions, up 8.1% year-on-year[11] - The company's domestic cinema generated RMB 2.1 billion in box office (excluding service fees), a year-on-year decrease of 2.6%, with 48.18 million admissions, an increase of 4.4% year-on-year[11] - As of March 31, 2024, the company operated 929 cinemas and 7,720 screens domestically, with a market share of 16.5%, up 0.2 percentage points year-on-year[11] - The company’s Australian cinema chain achieved a box office of approximately RMB 315 million, a year-on-year increase of 9%[11] - The films co-produced by the company, "The 20th Rule" and "Boonie Bears: Back to Earth," generated box office revenues of RMB 2.45 billion and RMB 1.99 billion, respectively[11] Strategic Initiatives - The company plans to increase investment in film and television projects, with several films and series scheduled for release in 2024[11] - The company terminated part of the fundraising investment projects and will permanently supplement the remaining funds into working capital, as approved in meetings held on January 12 and January 29, 2024[14] - The company’s membership card and W+ card promotions have contributed to an increasing share of box office revenue from self-operated channels[11] Corporate Changes - The company’s actual controller changed to Mr. Ke Liming following a series of equity transfers completed in April 2024[12] - The company has not audited the Q1 2024 report[23]