隆华新材(301149) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 reached ¥1,353,450,270.08, representing a 63.32% increase compared to ¥828,723,668.90 in the same period last year[5] - Net profit attributable to shareholders was ¥47,793,752.21, up 16.88% from ¥40,891,814.53 year-on-year[5] - The basic earnings per share increased by 10.00% to ¥0.11 from ¥0.10 in the previous year[5] - Total operating revenue for Q1 2024 reached ¥1,353,450,270.08, a significant increase of 63.3% compared to ¥828,723,668.90 in the same period last year[18] - Net profit for Q1 2024 was ¥47,793,752.21, representing a 16.5% increase from ¥40,891,814.53 in Q1 2023[19] - Earnings per share (EPS) for Q1 2024 was ¥0.11, compared to ¥0.10 in the previous year[20] - The company reported a total comprehensive income of ¥47,793,752.21 for Q1 2024, compared to ¥40,891,814.53 in Q1 2023[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,057,274,173.17, a 15.57% increase from ¥2,645,297,294.08 at the end of the previous year[5] - The total liabilities decreased to CNY 1,165,552,372.27 from CNY 1,186,940,500.00, indicating a decline of about 1.8%[15] - The total liabilities increased to ¥1,166,043,390.55 from ¥801,574,348.04 year-on-year[19] - Total equity attributable to shareholders reached ¥1,891,230,782.62, up from ¥1,843,722,946.04 in the previous year[19] Cash Flow - Cash flow from operating activities decreased by 28.77% to ¥50,083,337.00 from ¥70,309,286.86 in the same period last year[5] - The net cash flow from operating activities for Q1 2024 was ¥50,083,337, a decrease from ¥70,309,287 in Q1 2023, representing a decline of approximately 29.5%[23] - Cash inflow from operating activities totaled ¥1,550,086,052.26, an increase from ¥960,691,799.29 in the same quarter last year[22] - Cash outflow from operating activities was ¥1,500,002,715.26, compared to ¥890,382,512.43 in Q1 2023[22] - The net increase in cash and cash equivalents for the quarter was ¥215,702,101, compared to an increase of ¥102,574,210 in Q1 2023, showing improved liquidity[23] - The ending balance of cash and cash equivalents reached ¥712,145,166, up from ¥496,443,066 at the end of Q1 2023, marking a year-over-year increase of approximately 43.5%[23] Borrowings - The company's short-term borrowings decreased by 94.58% to ¥7,382,407.08, primarily due to repayment of loans[9] - Long-term borrowings increased by 156.78% to ¥696,636,624.76, attributed to new project loans[9] - Short-term borrowings decreased significantly to CNY 7,382,407.08 from CNY 136,269,809.09, a reduction of approximately 94.6%[15] - Long-term borrowings rose to CNY 696,636,624.76 from CNY 271,299,816.44, representing an increase of about 157.9%[15] Operational Metrics - The company sold approximately 151,300 tons of polyether products, a 73.91% increase compared to the same period last year[9] - Operating costs for the same period were ¥1,301,443,400.66, up 66.5% from ¥780,843,785.63 year-on-year[18] - Research and development expenses increased to ¥3,926,623.55 from ¥2,640,253.77 year-on-year, reflecting a focus on innovation[18] Cash Management - The company reported a significant increase in cash received from operating activities, totaling ¥1,511,005,495.94, a 78.95% increase year-on-year[9] - The company’s cash management structured deposits increased, leading to a 18117% rise in cash received from borrowings to ¥441,263,004.70[9] - The total cash inflow from investment activities was ¥398,232,168, compared to ¥275,407,328 in the previous year, indicating a growth of about 44.5%[23] - The cash outflow for capital expenditures was ¥155,430,791, an increase from ¥126,347,975 in Q1 2023, reflecting ongoing investments in fixed assets[23] Audit and Accounting Standards - The company did not undergo an audit for the Q1 2024 report, which may impact the perception of financial reliability[24] - The company has adopted new accounting standards starting in 2024, which may affect future financial reporting and analysis[24]