GSAFETY(300523)2024-04-19 15:31Financial Performance - The company's operating revenue for Q1 2024 was ¥128,718,945.53, a decrease of 51.60% compared to ¥265,955,551.15 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥57,770,513.18, representing a decline of 867.37% from a profit of ¥7,528,353.37 in Q1 2023[4] - In Q1 2024, the company reported a net loss of ¥59,165,944.18, compared to a net profit of ¥22,632,783.98 in Q1 2023, representing a significant decline[30] - Operating profit for Q1 2024 was -¥63,060,227.27, a decrease from an operating profit of ¥26,367,443.36 in the same period last year[30] - Total revenue from operating activities was ¥349,610,701.01, down from ¥537,971,862.83 in Q1 2023, indicating a decline of approximately 35%[34] - The company reported a total comprehensive loss of ¥59,837,506.33 for Q1 2024, compared to a comprehensive income of ¥22,154,340.52 in the same quarter last year[31] - The basic and diluted earnings per share for Q1 2024 were both -¥0.25, compared to ¥0.03 in Q1 2023[31] Cash Flow and Assets - The net cash flow from operating activities was a negative ¥145,541,603.92, worsening by 20.54% compared to a negative ¥120,739,244.34 in the previous year[4] - The company's cash and cash equivalents decreased to CNY 675,888,764.44 from CNY 749,477,809.09, a decline of 9.8%[26] - The company’s cash and cash equivalents at the end of Q1 2024 were ¥640,224,525.16, down from ¥1,210,664,908.29 at the end of Q1 2023[34] - The total assets at the end of Q1 2024 were ¥4,168,723,924.13, down 2.32% from ¥4,267,611,776.13 at the end of the previous year[4] - Accounts receivable decreased to CNY 1,996,765,474.76 from CNY 2,132,060,012.23, representing a reduction of 6.4%[27] - Current liabilities totaled CNY 2,333,224,319.64, slightly down from CNY 2,374,138,899.43, a decrease of 1.7%[28] - The company's equity attributable to shareholders decreased to CNY 1,459,378,010.64 from CNY 1,517,722,730.84, a decrease of 3.8%[28] Costs and Expenses - The company experienced a 58.52% decrease in main business costs, amounting to ¥69,960,788.02, due to a reduction in project acceptance during the period[14] - The total operating costs for Q1 2024 were CNY 208,890,832.93, down from CNY 294,338,046.26 in the previous year, reflecting a reduction of 29.0%[29] - The company incurred R&D expenses of ¥32,581,047.18 in Q1 2024, an increase of 14% compared to ¥28,396,559.00 in Q1 2023[30] - The company’s financial expenses increased to ¥6,367,141.85 in Q1 2024 from ¥4,849,171.90 in Q1 2023, reflecting a rise of approximately 31%[30] Investments and Shareholder Information - Cash paid for investments increased to ¥20,000,000.00 from none, primarily due to the purchase of structured deposits[16] - Cash received from minority shareholders' investments was ¥1,250,000.00, with no previous amount reported[16] - The total number of common shareholders at the end of the reporting period was 15,624, with no preferred shareholders[18] - The largest shareholder, China Telecom Group, holds 18.68% of the shares, followed by Xuanyuan Group with 12.05%[18] Inventory and Other Financial Metrics - The inventory increased by 34.95% to ¥424,918,978.08, primarily due to an increase in unfinished projects[11] - Cash received from sales and services decreased by 33.29% to ¥331,543,134.68 compared to ¥496,971,489.23 in the same period last year, primarily due to reduced collections this period[16] - Tax refunds received dropped by 87.74% to ¥3,533,867.79 from ¥28,828,925.72, mainly due to a decrease in VAT refunds[16] - Cash paid for various taxes decreased by 44.26% to ¥57,978,021.87 from ¥104,008,735.56, attributed to lower VAT and corporate income tax payments[16] - Cash paid for debt repayment increased by 50.60% to ¥198,897,494.83 from ¥132,072,777.69, mainly due to increased bank loan payments[17]