Jinggong Technology(002006)2025-04-27 07:55Financial Performance - The company's operating revenue for Q1 2025 was ¥404,122,762.91, a decrease of 25.93% compared to ¥545,584,174.65 in the same period last year[5] - Net profit attributable to shareholders was ¥43,461,254.18, down 24.00% from ¥58,196,361.57 year-on-year[5] - The company reported a 33.66% decrease in net profit after deducting non-recurring gains and losses, amounting to ¥37,409,220.01 compared to ¥57,398,226.07 in the previous year[5] - Basic earnings per share decreased by 33.59% to ¥0.0848 from ¥0.1300 in the same period last year[5] - Total operating revenue decreased to ¥404,122,762.91 from ¥545,584,174.65, representing a decline of approximately 26% year-over-year[34] - Net profit for the period was ¥43,461,254.18, down from ¥57,230,166.69, reflecting a decline of approximately 24% year-over-year[35] - The total comprehensive income attributable to the parent company was CNY 43,461,254.18, a decrease from CNY 57,187,947.38 in the previous period, representing a decline of approximately 24.0%[36] - Basic earnings per share decreased to CNY 0.0848 from CNY 0.1277, reflecting a decline of about 33.6%[36] Cash Flow and Assets - The net cash flow from operating activities decreased by 187.57%, resulting in a negative cash flow of ¥232,158,721.81, compared to a negative cash flow of ¥85,139,820.87 in the previous year[5] - Cash inflows from operating activities totaled CNY 282,081,960.03, down from CNY 321,122,156.17, indicating a decrease of approximately 12.2%[36] - The net cash flow from operating activities was negative at CNY -232,158,721.81, worsening from CNY -80,730,968.89 in the previous period[36] - Cash inflows from investment activities amounted to CNY 913,375,320.59, with cash outflows totaling CNY 1,290,739,356.74, resulting in a net cash flow of CNY -377,364,036.15[37] - Cash inflows from financing activities were CNY 268,000,000.00, while cash outflows were CNY 115,029,460.08, leading to a net cash flow of CNY 152,970,539.92[37] - The company's cash and cash equivalents decreased from approximately 1.66 billion yuan to approximately 1.12 billion yuan during the reporting period[31] - The ending cash and cash equivalents balance was CNY 744,728,388.29, compared to CNY 384,618,502.69 in the previous period, showing an increase of approximately 93.8%[37] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,160,302,457.88, reflecting a slight increase of 0.42% from ¥4,142,848,400.48 at the end of the previous year[5] - Current liabilities totaled ¥1,700,843,537.79, down from ¥1,758,959,160.05, indicating a decrease of approximately 3.3%[33] - Non-current liabilities rose to ¥86,041,409.95 from ¥57,721,829.83, an increase of about 49%[33] - The total equity attributable to shareholders rose to ¥2,373,417,510.14 from ¥2,326,167,410.60, an increase of about 2%[33] Investments and Projects - Long-term equity investments increased by 106.30%, primarily due to a ¥30 million investment in Yiwit (Nanjing) Aviation Technology Co., Ltd.[11] - The company has invested 50 million RMB in a private equity fund to enhance its investment structure and support core business development in carbon fiber and carbon neutrality equipment[16] - The company has committed to a high-performance fiber project through its wholly-owned subsidiary, Zhejiang Jinggong Carbon Material Technology Co., Ltd.[20] - The company has invested a total of 89.71 million yuan in the high-performance fiber project, with 47.57 million yuan from the construction contract with Zhejiang Jinggong Construction Engineering Co., Ltd. and 8.99 million yuan from the contract with Jinggong Industrial Building System Group Co., Ltd.[22] Contracts and Revenue Recognition - The company signed a carbonization line purchase and sale contract with Jilin Guoxing Carbon Fiber Co., Ltd. for a total amount of 1.15 billion yuan, with 170 million yuan received to date and 207.96 million yuan in recognized revenue for the first quarter of 2025[23] - A carbon fiber equipment procurement contract was signed with Donghua Energy (Maoming) Carbon Fiber Co., Ltd. for 550 million yuan, with 69.85 million yuan received and 19.03 million yuan in recognized revenue for the first quarter of 2025[24] - The company has signed a contract for a 150,000-ton green recycled new materials project with Zhejiang Jianxin Jiaren New Materials Co., Ltd. for an estimated total price of 320 million yuan, with 224 million yuan received and 24.32 million yuan in recognized revenue for the first quarter of 2025[25] - A sales contract was signed with Sichuan Zhongyi Huixin New Materials Technology Co., Ltd. for 515.5 million yuan, with no payments received to date[27] - The company signed a sales contract with Graphene Fibre Limited for a total amount of 171.68 million USD, with no payments received to date[28] Shareholder Information - The total number of common shareholders at the end of the reporting period is 46,434[14] - The largest shareholder, Zhongjianxin (Zhejiang) Venture Capital Co., Ltd., holds 26.26% of shares, totaling 136,502,400 shares, with 109,180,000 shares pledged[14] - As of the report date, Zhongjianxin Zhejiang Company has pledged a total of 109,180,000 shares, accounting for 79.98% of its total holdings[18] Other Financial Metrics - The weighted average return on net assets decreased to 1.85% from 4.78% in the previous year[5] - Research and development expenses increased to ¥31,965,629.79 from ¥24,777,222.13, marking a rise of approximately 29% year-over-year[34] - The company reported an investment income of ¥1,018,112.16 compared to a loss of ¥23,600.40 in the previous period[35] - Deferred income increased significantly to ¥28,833,642.77 from ¥10,483,800.00, reflecting a growth of approximately 175%[33] - The company received CNY 11,154,189.33 in tax refunds, significantly higher than CNY 2,138,862.09 in the previous period, marking an increase of about 420.5%[36] Audit Status - The first quarter report was not audited, indicating that the financial data may be subject to further review[38]