创兴资源(600193) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was CNY 247,742.87, a decrease of 97.83% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of CNY 5,290,864.91, representing a decline of 311.83% year-on-year[4] - Basic earnings per share decreased by 300.00% to -0.012 CNY per share[5] - The decline in operating revenue was primarily due to a significant decrease in the scale of construction decoration and software and information technology services[8] - The company reported a revenue of RMB 84.01 million for the fiscal year 2024, with a net loss attributable to shareholders of RMB 193.38 million[14] - The company has experienced continuous losses for two consecutive years, with a net loss of RMB 193.38 million in 2024, and negative cash flow from operating activities for five consecutive years[14] - Total operating revenue for Q1 2025 was CNY 247,742.87, a significant decrease from CNY 11,409,404.80 in Q1 2024[22] - Net profit for Q1 2025 was a loss of CNY 5,290,864.91, compared to a profit of CNY 2,497,688.45 in Q1 2024[23] - Operating profit for Q1 2025 was a loss of CNY 4,794,004.79, while Q1 2024 showed a profit of CNY 3,575,221.62[23] Cash Flow and Assets - The company's cash flow from operating activities was a net outflow of CNY 4,205,516.78, compared to an outflow of CNY 19,303,875.28 in the same period last year[4] - The company's cash and cash equivalents decreased by 50.31% due to payments for procurement[8] - As of March 31, 2025, the company's cash and cash equivalents were RMB 2.09 million, a decrease from RMB 4.21 million at the end of 2024[17] - The total current assets decreased from RMB 379.80 million at the end of 2024 to RMB 350.32 million as of March 31, 2025[17] - The total liabilities as of the reporting date were CNY 442,293,886.27, compared to CNY 468,863,577.77 in the previous period[19] - Total assets amounted to CNY 540,575,352.50, down from CNY 572,427,808.91 in the previous period[19] - The ending cash and cash equivalents balance was $1,422,014.33, down from$4,386,360.27 in the previous period[29] Investments and Liabilities - The company reported a 3,852,935.77 CNY increase in non-operating income, mainly from receiving construction project warranty deposits from suppliers[8] - Contract liabilities increased by 57.09% due to an increase in advance payments from customers[8] - The company provided guarantees for its wholly-owned subsidiary, with a guarantee balance of RMB 48.73 million, representing 47.05% of the company's net assets[15] - The company has one overdue guarantee related to its subsidiary, which has not repaid its bank loans on time[15] - The company's long-term equity investments increased from RMB 98.43 million at the end of 2024 to RMB 102.00 million as of March 31, 2025[17] Risks and Future Outlook - The controlling shareholder, Zhejiang Huqiao Industrial Co., Ltd., may undergo a change in control due to a judicial auction of 67 million shares, which constitutes 15.75% of the total share capital[12] - The company is at risk of being delisted due to negative net profit and revenue below RMB 300 million, as per stock listing rules[14] - The company has a significant uncertainty regarding its ability to continue as a going concern, as highlighted by its auditor[14] - The company plans to implement new accounting standards starting from 2025, which may affect the financial statements[29] Operating Costs and Expenses - Total operating costs for Q1 2025 were CNY 6,765,820.17, down from CNY 12,799,387.94 in Q1 2024[22] - Cash received from sales of goods and services in Q1 2025 was CNY 28,095,942.42, down from CNY 42,027,660.33 in Q1 2024[27] - Research and development expenses for Q1 2025 were CNY 482,328.00, compared to CNY 666,774.36 in Q1 2024[23] - Financial expenses in Q1 2025 totaled CNY 657,191.53, an increase from CNY 459,901.29 in Q1 2024[23] - The company reported a credit impairment loss of CNY 1,310,027.40 in Q1 2025, down from CNY 5,117,653.35 in Q1 2024[23] - Total cash outflow from operating activities reached $32,477,872.89, compared to$81,617,406.34 in the previous period[28] - Cash paid to employees was $3,580,498.54, a decrease from$5,657,177.11 previously[28] - Cash paid for taxes was $163,009.88, down from$774,998.75 in the previous period[28]