Zhejiang Wufangzhai Industry (603237)2024-04-24 10:28Financial Performance - The company's operating revenue for Q1 2024 was ¥207,137,579.40, a decrease of 4.13% compared to ¥216,066,125.77 in the same period last year[5] - The net profit attributable to shareholders of the listed company was -¥69,759,577.11, compared to -¥63,936,694.36 in the previous year, indicating a continued loss[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥70,523,263.25, slightly worse than -¥69,721,818.94 in the previous year[5] - Total operating revenue for Q1 2024 was CNY 207.14 million, a decrease of 4.3% from CNY 216.07 million in Q1 2023[23] - Net loss for Q1 2024 was CNY 70.50 million, compared to a net loss of CNY 64.82 million in Q1 2023, representing an increase in loss of 8.3%[25] - Basic and diluted earnings per share for Q1 2024 were both CNY -0.50, compared to CNY -0.45 in Q1 2023[25] Cash Flow and Liquidity - Cash flows from operating activities increased by 21.04%, reaching ¥192,411,609.13 compared to ¥158,962,601.15 in the same period last year[6] - Cash inflow from operating activities for Q1 2024 was 629.53 million in Q1 2023[29] - Net cash flow from operating activities increased to 158.96 million in Q1 2023[29] - Cash outflow for investing activities in Q1 2024 was 297.74 million in Q1 2023[30] - Net cash flow from investing activities was -147.33 million in Q1 2023[30] - Cash inflow from financing activities totaled 43.44 million in Q1 2023[30] - The net increase in cash and cash equivalents for Q1 2024 was 38.79 million in Q1 2023[30] - The ending balance of cash and cash equivalents for Q1 2024 was 942.06 million in Q1 2023[30] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,657,770,591.82, reflecting a 13.79% increase from ¥2,335,698,961.06 at the end of the previous year[6] - Total assets as of Q1 2024 amounted to CNY 2.66 billion, an increase from CNY 2.34 billion in the previous year[21] - Total liabilities for Q1 2024 were CNY 976.62 million, up from CNY 569.10 million in Q1 2023, reflecting a significant increase of 71.5%[21] - The company reported a total current assets of RMB 1,315,247,317.47 as of March 31, 2024, compared to RMB 994,533,170.45 at the end of 2023, reflecting an increase of approximately 32.26%[19] Shareholder Information - The total number of common shareholders at the end of the reporting period was 10,716[13] - The largest shareholder, Wufangzhai Group Co., Ltd., holds 42,690,596 shares, accounting for 29.70% of total shares[13] - The company plans to distribute a cash dividend of ¥0.4 per share and issue 4 bonus shares for every 10 shares held, following the approval of the profit distribution plan[6] Non-Recurring Items and Other Gains - The company reported non-recurring gains of ¥763,686.14, primarily from government subsidies and asset disposals[10] - The company’s weighted average return on net assets was -4.03%, a decrease of 0.18 percentage points compared to -3.85% in the previous year[6] Inventory and Research - Inventory as of March 31, 2024, was RMB 350,904,412.15, significantly up from RMB 197,947,727.80 at the end of 2023, indicating an increase of about 77.06%[19] - Research and development expenses increased to CNY 5.38 million in Q1 2024, up from CNY 4.88 million in Q1 2023, indicating a focus on innovation[23] Share Repurchase Plan - The company has initiated a share repurchase plan with a total amount not less than RMB 60 million and not exceeding RMB 100 million, aimed at employee stock ownership plans or equity incentives[16] - As of March 29, 2024, the company has repurchased a total of 2,506,364 shares, accounting for 1.74% of the total share capital, with a total expenditure of RMB 67,990,309.90[16] Compliance and Regulations - The company plans to implement strict compliance with regulations regarding share repurchase and timely information disclosure[16] - The company has not disclosed any related party transactions among the top 10 shareholders[14]