宁波富达(600724) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 556,052,061.25, representing a decrease of 32.40% compared to the same period last year[6]. - The net profit attributable to shareholders was CNY 67,660,184.12, an increase of 8.94% year-on-year[6]. - The basic earnings per share for the period was CNY 0.0468, reflecting an increase of 8.84% compared to the previous year[7]. - The company's net profit for the first quarter of 2024 is not explicitly stated, but the significant drop in revenue and costs indicates a challenging financial environment[30]. - In Q1 2024, the company's net profit was CNY 66,749,943.19, a slight decrease from CNY 67,595,277.52 in Q1 2023[32]. - The operating profit for Q1 2024 was CNY 88,777,582.51, compared to CNY 85,672,839.08 in the same period last year, reflecting a growth of approximately 2.45%[31]. - The total revenue from operating activities was CNY 616,684,131.95, down from CNY 876,080,368.08 in Q1 2023, indicating a decline of about 29.6%[36]. - The cash flow from operating activities showed a net outflow of CNY 10,668,748.00, an improvement from a net outflow of CNY 97,580,002.35 in Q1 2023[36]. - The company achieved investment income of CNY 7,677,342.10 in Q1 2024[31]. Assets and Liabilities - The total assets at the end of the period were CNY 4,188,480,877.69, a decrease of 9.53% from the end of the previous year[7]. - As of March 31, 2024, the total current assets amounted to CNY 2,154,193,391.99, a decrease of 13.3% from CNY 2,484,367,850.59 as of December 31, 2023[25]. - The company's total assets decreased to CNY 4,188,480,877.69 as of March 31, 2024, down from CNY 4,629,655,094.80 at the end of 2023, reflecting a decline of 9.5%[27]. - The total liabilities decreased to CNY 799,707,513.92 as of March 31, 2024, down from CNY 1,254,856,144.42, indicating a reduction of 36.2%[26]. - The company's equity attributable to shareholders increased to CNY 2,959,881,089.25 from CNY 2,893,004,843.70, reflecting a growth of 2.3%[27]. Cash Flow and Financing - The net cash flow from operating activities was negative CNY 10,668,748.00, indicating a significant cash outflow[6]. - The company experienced a decrease in cash flow from financing activities, which amounted to CNY 1.01 billion, down 28.43% from the previous year[11]. - The total cash inflow from financing activities was CNY 195,000,000.00, an increase from CNY 177,000,000.00 in Q1 2023[37]. - The company reported a cash and cash equivalents balance of CNY 1,659,098,297.70 at the end of Q1 2024, up from CNY 1,264,183,324.20 at the end of Q1 2023, representing an increase of approximately 31.2%[37]. Investments and Projects - The total investment for the Ningbo Kehuan annual production capacity of 2 million tons cement grinding system relocation project has increased to RMB 353 million, with a projected annual revenue of RMB 881 million and a profit of RMB 20.99 million[16]. - As of March 31, 2024, the investment completed for the cement grinding system relocation project is RMB 328.35 million, accounting for 93.02% of the total investment, with the main engineering completed and entering normal production[18]. - The Zhejiang Shangfeng Kehuan Building Materials Co., Ltd. 4500 tons/day cement clinker production line project has completed multiple preliminary approvals and has obtained the construction land planning permit and real estate registration certificate as of March 31, 2024[20]. - The company acquired mining rights for limestone in Yuxi City, Yunnan Province, for RMB 21.33 million to ensure stable supply of raw materials and reduce production costs[21]. - The company plans to complete the construction of the cement grinding system relocation project by July 2024[18]. - The investment profit margin for the cement grinding system relocation project is projected at 6.30%[17]. - The company is currently in the process of applying for the mining license for the newly acquired limestone mining rights[21]. Shareholder Information - The top shareholder, Ningbo Chengjian Investment Group Co., Ltd., holds 1,039,886,401 shares, representing 71.95% of the total shares[14]. - The second-largest shareholder, Ningbo Development Investment Group Co., Ltd., holds 72,262,054 shares, representing 5.00% of the total shares[14]. - The company has not disclosed any changes in the top 10 shareholders or their participation in margin financing or securities lending[15]. - The company completed the transfer of 40% equity in Ningbo Fuda Jintuoling New Energy Co., Ltd. on March 8, 2024, and it will no longer consolidate this entity in its financial statements from March 2024[22]. Operational Efficiency - Accounts receivable decreased by 36.30%, with a balance of CNY 214 million at the end of the period[10]. - Inventory decreased by 52.93%, with a balance of CNY 143 million at the end of the period[10]. - Short-term borrowings decreased by 45.81%, with a balance of CNY 280 million at the end of the period[10]. - The company reported a decrease in operating costs by 35.87%, amounting to CNY 438 million for the period[11]. - The total operating costs for Q1 2024 were CNY 479,532,763.65, down 34.9% from CNY 737,247,091.24 in Q1 2023[30]. - Research and development expenses for Q1 2024 totaled CNY 1,117,020.69[31]. - The company incurred financial expenses of CNY -5,529,416.68, with interest expenses amounting to CNY 6,000,686.77[31].