GDHEC CO.,LTD(SH:600673)2024-04-23 11:07Financial Performance - The company's operating revenue for Q1 2024 was RMB 2,829,630,561.75, representing a year-on-year increase of 5.31%[4] - Net profit attributable to shareholders for Q1 2024 was RMB 98,762,466.87, reflecting a significant increase of 50.46% compared to the same period last year[4] - Basic and diluted earnings per share for Q1 2024 were both RMB 0.033, marking a 50.00% increase from the previous year[4] - Operating profit for Q1 2024 was ¥110,239,994.50, up from ¥89,295,528.32 in Q1 2023, reflecting a growth of 23.1%[21] - Total comprehensive income for Q1 2024 reached ¥91,767,836.09, compared to ¥63,257,618.65 in Q1 2023, representing an increase of approximately 45%[22] - Net profit attributable to the parent company for Q1 2024 was ¥98,762,466.87, up from ¥65,642,499.06 in Q1 2023, marking a growth of about 50.4%[22] Cash Flow - The net cash flow from operating activities was RMB 167,925,693.07, up by 6.16% year-on-year[4] - Cash inflow from operating activities totaled ¥2,795,232,369.72 in Q1 2024, compared to ¥2,409,834,207.37 in Q1 2023, indicating an increase of approximately 16%[23] - Cash outflow from operating activities was ¥2,627,306,676.65 in Q1 2024, compared to ¥2,251,649,930.61 in Q1 2023, representing an increase of about 16.7%[23] - Net cash flow from investing activities for Q1 2024 was -¥420,318,720.99, a decrease from ¥26,043,202.24 in Q1 2023[25] - Cash inflow from financing activities in Q1 2024 was ¥2,786,858,037.01, compared to ¥2,736,973,724.71 in Q1 2023, showing a slight increase of about 1.8%[25] - The ending balance of cash and cash equivalents as of Q1 2024 was ¥2,879,704,326.96, down from ¥3,576,763,100.08 in Q1 2023[25] Assets and Liabilities - Total assets at the end of Q1 2024 reached RMB 26,154,524,334.60, an increase of 4.82% from the end of the previous year[5] - Total liabilities rose to ¥15,897,999,930.97 in Q1 2024, up from ¥14,808,378,059.21 in Q1 2023, indicating an increase of 7.3%[18] - The company's total non-current assets amounted to ¥14,954,842,033.59 in Q1 2024, compared to ¥14,658,683,931.01 in Q1 2023, an increase of 2.0%[18] Shareholder Information - The company reported a total of 576,596,089 shares held by Shenzhen Dongyangguang Industrial Development Co., Ltd., representing 19.13% of total shares[10] - The top ten shareholders collectively hold significant stakes, with the largest being Shenzhen Dongyangguang Industrial Development Co., Ltd. and Yichang Dongyangguang Pharmaceutical Co., Ltd.[12] - The company has not reported any significant changes in shareholder relationships or actions among the top ten shareholders[12] Operational Efficiency - The increase in net profit was primarily driven by the rise in prices of third-generation refrigerants and improved production capacity utilization in the consumer electronics sector[8] - The company implemented lean management strategies, which led to a reduction in production and operational costs[8] - Research and development expenses for Q1 2024 were ¥75,561,828.22, down from ¥86,947,532.79 in Q1 2023, a decrease of 13.0%[21] - Financial expenses increased to ¥79,862,367.26 in Q1 2024 from ¥69,320,865.66 in Q1 2023, reflecting a rise of 15.5%[21] Other Financial Metrics - The weighted average return on equity increased by 0.35 percentage points to 1.00%[4] - The company's equity attributable to shareholders was RMB 9,922,866,844.55, up by 1.23% compared to the end of the previous year[5] - The company reported a decrease in tax expenses to ¥14,309,366.42 in Q1 2024 from ¥25,794,765.28 in Q1 2023, a reduction of 44.7%[21] - Non-recurring gains and losses included government subsidies of RMB 9,254,023.24, contributing positively to the financial results[6]