Putailai(603659)2024-04-12 16:00Financial Performance - Revenue for Q1 2024 was RMB 3,034,281,969.67, a decrease of 17.97% year-over-year[4] - Net profit attributable to shareholders was RMB 444,789,571.85, down 36.64% compared to the same period last year[4] - Total revenue for Q1 2024 was RMB 3,034,281,969.67, a decrease of 17.96% compared to RMB 3,698,994,031.12 in Q1 2023[19] - Net profit attributable to parent company owners for Q1 2024 was RMB 8,100,717,038.96, up 5.81% from RMB 7,655,927,467.11 in Q1 2023[18] - Net profit attributable to parent company shareholders was 444,789,571.85 yuan, a decrease of 36.6% compared to 701,974,570.75 yuan in the same period last year[21] - Total comprehensive income was 513,392,772.09 yuan, down 34.6% from 784,614,484.36 yuan in the previous year[22] - Basic earnings per share were 0.21 yuan, a 38.2% decrease from 0.34 yuan in the same period last year[22] - Revenue from sales of goods and services was 1,982,511,398.76 yuan, down 36.6% from 3,126,075,443.67 yuan in the same period last year[23] - Revenue for Q1 2024 increased significantly to 3,286,353.44 yuan compared to 334,192.92 yuan in Q1 2023, an increase of approximately 883.37%[30] - Net profit for Q1 2024 was 79,053,937.85 yuan, slightly lower than 79,775,592.96 yuan in Q1 2023, a decrease of approximately 0.9%[32] Cash Flow - Operating cash flow was negative RMB 1,360,462,552.97, a significant decrease of 174.96% year-over-year[4] - The company's net cash flow from operating activities related to bills was RMB 2.142 billion, with a total cash flow of RMB 782 million when combined with operating cash flow[5] - The significant decrease in operating cash flow was mainly due to a substantial increase in bill payments from customers[8] - Operating cash flow was -1,360,462,552.97 yuan, a significant decline from -494,777,529.29 yuan in the previous year[24] - Investment cash flow was -622,672,720.29 yuan, an improvement from -1,018,370,782.55 yuan in the same period last year[24] - Financing cash flow was -238,795,127.48 yuan, a sharp decline from 467,190,188.28 yuan in the previous year[25] - Sales of goods and services received cash of RMB 2,086,741.61 in Q1 2024, a significant increase from RMB 606,698.88 in Q1 2023[34] - Total cash inflows from operating activities reached RMB 22,125,785.23 in Q1 2024, up from RMB 9,116,857.27 in Q1 2023[34] - Net cash flow from operating activities was RMB 9,885,918.59 in Q1 2024, compared to RMB 2,295,615.47 in Q1 2023[34] - Cash inflows from investment activities totaled RMB 606,224,383.57 in Q1 2024, a substantial increase from RMB 67,387,051.67 in Q1 2023[34] - Cash outflows for investment activities amounted to RMB 1,058,500,000.00 in Q1 2024, significantly higher than RMB 80,689,000.00 in Q1 2023[35] - Net cash flow from investment activities was negative RMB 452,275,616.43 in Q1 2024, compared to negative RMB 13,301,948.33 in Q1 2023[35] - Cash inflows from financing activities were RMB 1,200,000,000.00 in Q1 2024, up from RMB 230,000,000.00 in Q1 2023[35] - Net cash flow from financing activities was negative RMB 261,631,847.75 in Q1 2024, compared to negative RMB 7,597,523.88 in Q1 2023[35] - The net increase in cash and cash equivalents was negative RMB 704,033,754.37 in Q1 2024, compared to negative RMB 18,605,048.72 in Q1 2023[35] - The ending balance of cash and cash equivalents was RMB 1,989,957,729.38 in Q1 2024, down from RMB 2,693,991,483.75 at the beginning of the period[35] Assets and Liabilities - Total assets at the end of Q1 2024 were RMB 41,878,726,309.58, a decrease of 4.11% compared to the end of the previous year[5] - Equity attributable to shareholders increased by 2.62% to RMB 18,240,618,899.20 compared to the end of the previous year[5] - Total assets as of Q1 2024 were RMB 41,878,726,309.58, a decrease of 4.11% from RMB 43,674,947,626.61 in Q1 2023[16] - Total liabilities as of Q1 2024 were RMB 22,619,122,785.00, down 9.32% from RMB 24,944,924,984.59 in Q1 2023[17] - Inventory as of Q1 2024 was RMB 10,703,123,220.14, a decrease of 6.75% from RMB 11,477,959,098.77 in Q1 2023[16] - Contract liabilities as of Q1 2024 were RMB 4,859,127,485.31, an increase of 12.31% compared to RMB 4,326,404,340.75 in Q1 2023[17] - Short-term borrowings as of Q1 2024 were RMB 2,959,573,886.48, a decrease of 19.35% from RMB 3,669,920,417.36 in Q1 2023[16] - Long-term borrowings as of Q1 2024 were RMB 4,502,346,217.91, an increase of 13.83% compared to RMB 3,955,394,593.33 in Q1 2023[17] - Total assets decreased from 14,898,541,034.56 yuan to 14,731,449,481.93 yuan, a decrease of approximately 1.12%[28][29] - Current assets decreased from 5,811,003,840.52 yuan to 4,893,740,409.53 yuan, a decrease of approximately 15.78%[26] - Long-term equity investments increased from 9,008,364,774.58 yuan to 9,759,129,141.00 yuan, an increase of approximately 8.33%[28] - Total liabilities decreased from 2,029,803,920.11 yuan to 1,773,325,121.68 yuan, a decrease of approximately 12.63%[28][29] - Short-term borrowings decreased from 945,000,000.00 yuan to 715,000,000.00 yuan, a decrease of approximately 24.34%[28] - Owner's equity increased from 12,868,737,114.45 yuan to 12,958,124,360.25 yuan, an increase of approximately 0.69%[29] Shareholder Information - Ningbo Shengyue Venture Capital Partnership holds 230,261,325 shares, representing 10.77% of total shares[10] - Ningbo Kuoneng Venture Capital Partnership holds 199,799,546 shares, representing 9.35% of total shares[10] - Chen Wei holds 175,942,165 shares, representing 8.23% of total shares[10] - Hong Kong Securities Clearing Company holds 126,421,300 shares, representing 5.91% of total shares[10] Expenses and Costs - Total operating costs for Q1 2024 were RMB 2,492,369,777.25, down 13.31% from RMB 2,875,148,898.21 in Q1 2023[19] - R&D expenses for Q1 2024 were RMB 194,240,986.29, a decrease of 3.71% compared to RMB 201,725,585.21 in Q1 2023[19] - Total operating expenses were 3,567,880,570.15 yuan, a decrease of 4.7% from 3,745,092,770.08 yuan in the previous year[24] - Financial expenses for Q1 2024 were -14,649,450.96 yuan, compared to -16,712,339.29 yuan in Q1 2023, an improvement of approximately 12.34%[32] - Investment income for Q1 2024 was 69,264,366.42 yuan, slightly lower than 69,676,768.10 yuan in Q1 2023, a decrease of approximately 0.59%[32] Profitability and Industry Impact - The decrease in net profit was primarily due to lower prices and profitability of anode materials, which were impacted by industry overcapacity and slow inventory digestion[8] - The company expects profitability to gradually improve in 2024 as cost reduction measures take effect and inventory issues are resolved[8] Monetary Funds and Financial Assets - Total monetary funds decreased to 6,589,301,228.30 yuan as of March 31, 2024, compared to 9,102,051,659.70 yuan at the end of 2023[15] - Trading financial assets increased to 1,688,294,438.05 yuan as of March 31, 2024, up from 1,525,089,191.75 yuan at the end of 2023[15] - Accounts receivable rose to 3,632,027,701.96 yuan as of March 31, 2024, compared to 3,238,259,448.96 yuan at the end of 2023[15] - Notes receivable increased to 628,355,794.84 yuan as of March 31, 2024, up from 589,381,032.26 yuan at the end of 2023[15] - Financing receivables decreased to 630,597,861.87 yuan as of March 31, 2024, down from 963,527,868.52 yuan at the end of 2023[15] - Prepayments increased to 383,774,445.74 yuan as of March 31, 2024, compared to 370,294,358.63 yuan at the end of 2023[15] - Cash and cash equivalents at the end of the period were 6,134,692,500.95 yuan, a decrease of 26.6% from 8,352,507,340.79 yuan at the beginning of the period[25]