J-Yuan Trust (600816)2021-04-29 16:00Financial Performance - Total operating income for Q1 2021 was approximately ¥58.67 million, an increase of 29.23% year-on-year[5]. - Net profit attributable to shareholders was approximately -¥727.24 million, a decrease of 9.29% compared to the previous year[5]. - Basic and diluted earnings per share were both -¥0.1330, a decrease of 9.29% year-on-year[5]. - Total operating revenue for Q1 2021 was RMB 58,667,217.02, an increase of 29.2% from RMB 45,395,865.02 in Q1 2020[22]. - Net profit for Q1 2021 was a loss of RMB 727,401,943.08, compared to a loss of RMB 665,452,527.79 in Q1 2020[23]. - The total operating profit for Q1 2021 was -592,443,239.50 RMB, compared to -900,746,804.52 RMB in Q1 2020, showing an improvement[26]. - The company’s operating profit margin and net profit margin remain negative, indicating ongoing financial challenges[26]. Assets and Liabilities - Total assets at the end of Q1 2021 were approximately ¥19.55 billion, a decrease of 1.92% compared to the end of the previous year[5]. - The total assets decreased from RMB 19,932,118,143.30 to RMB 19,550,204,585.46[15]. - The total liabilities increased to ¥18,677,020,076.58 from ¥18,331,531,691.34, reflecting a growth of approximately 1.88% year-over-year[16]. - The total equity attributable to shareholders decreased significantly to ¥165,662,049.35 from ¥892,905,150.86, indicating a decline of about 81.5%[17]. - The company's total assets amounted to ¥17,559,214,510.26, a slight decrease from ¥17,711,820,997.10, representing a decline of approximately 0.86%[20]. - The total liabilities and equity amounted to ¥19,550,204,585.46, down from ¥19,932,118,143.30, a decrease of approximately 1.91%[17]. - The company's estimated liabilities increased to ¥2,437,650,248.64 from ¥2,311,485,041.24, reflecting an increase of about 5.45%[20]. Cash Flow - Net cash flow from operating activities was negative at approximately -¥15.60 million, a decline of 109.07% compared to the same period last year[5]. - The net cash flow from operating activities decreased by 109.07% to -RMB 15,598,445.17, primarily due to loan recoveries in the previous year[11]. - Cash flow from operating activities for Q1 2021 was -15,598,445.17 RMB, a significant decrease from 171,948,432.03 RMB in Q1 2020[28]. - The company experienced a net cash decrease of 15,500,593.39 RMB in Q1 2021, contrasting with an increase of 66,098,176.62 RMB in Q1 2020[29]. - The cash flow from investment activities for Q1 2021 was 97,851.78 RMB, compared to 33,149,744.59 RMB in Q1 2020, showing a decrease[29]. Legal and Operational Risks - The company has experienced significant losses for three consecutive years, raising substantial doubts about its ability to continue as a going concern[3]. - The company is currently involved in litigation related to guarantees provided to third parties, which may lead to further legal risks[3]. - The company is taking measures to resolve risks associated with ongoing trust projects and is seeking settlements with guarantee holders[3]. - The company is actively promoting risk resolution measures since March 2020 under the guidance of relevant authorities[12]. Expenses and Financial Adjustments - Interest expenses rose by 64.83% to RMB 352,786,614.07 due to increased interbank borrowings[11]. - The company reported a significant increase in other expenses, with a rise of 91769.00% to RMB 183,737,999.56 due to penalty provisions[11]. - The company reported a significant increase in credit impairment losses, amounting to RMB 70,122,198.00, compared to RMB 278,433,975.57 in Q1 2020[23]. - Fair value changes resulted in a loss of RMB 174,267,331.97, an improvement from a loss of RMB 338,702,247.43 in the previous year[22]. - The implementation of new leasing standards resulted in adjustments to the financial statements as of January 1, 2021[39].