CGA(600297)2024-04-24 10:48Financial Performance - The company's operating revenue for Q1 2024 was ¥27,790,010,430.41, representing a decrease of 11.49% compared to the same period last year [3]. - The net profit attributable to shareholders of the listed company was ¥70,940,455.83, down 86.61% year-on-year [3]. - The net profit after deducting non-recurring gains and losses was ¥950,727.38, reflecting a significant decline of 99.80% compared to the previous year [3]. - The basic earnings per share were ¥0.01, a decrease of 85.71% year-on-year [3]. - The weighted average return on equity was 0.18%, down by 1.18 percentage points from the previous year [3]. - The total profit decreased by 77.92%, attributed to slow recovery in automotive consumption and industry price wars affecting profitability [7]. - In Q1 2024, the total profit amounted to ¥170,688,569.45, a significant decrease from ¥772,996,786.19 in Q1 2023, representing a decline of approximately 77% [52]. - The net profit for Q1 2024 was ¥86,043,020.88, compared to ¥604,921,529.15 in the same period last year, indicating a drop of about 86.7% [52]. - Operating profit for Q1 2024 was approximately ¥150.90 million, a significant decline of 80.5% from ¥771.13 million in Q1 2023 [31]. - The company recorded a total comprehensive income of ¥84,430,001.22 in Q1 2024, significantly lower than ¥677,177,367.06 in Q1 2023, marking a decrease of around 87.5% [52]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥1,202,087,398.77, indicating a significant cash outflow [3]. - The cash flow from operating activities showed a net outflow of ¥1,202,087,398.77 in Q1 2024, an improvement from a net outflow of ¥2,223,820,411.49 in Q1 2023 [54]. - The company reported cash inflow from investment activities of ¥2,546,586,590.86 in Q1 2024, compared to ¥2,478,915,652.47 in Q1 2023, reflecting an increase of approximately 2.7% [55]. - Cash and cash equivalents at the end of Q1 2024 totaled ¥2,513,356,083.99, down from ¥4,732,929,947.44 at the end of Q1 2023, a decrease of about 46.8% [55]. - The company's cash outflow for purchasing goods and services in Q1 2024 was ¥29,244,285,742.62, down from ¥34,896,384,389.47 in Q1 2023, reflecting a decrease of about 16.2% [54]. - The total cash inflow from financing activities in Q1 2024 was ¥18,795,838,055.62, compared to ¥52,187,517,284.01 in Q1 2023, indicating a decline of approximately 64% [55]. Assets and Liabilities - Total assets at the end of the reporting period were ¥111,737,426,541.57, a decrease of 5.05% compared to the end of the previous year [17]. - Total current assets amounted to ¥63,258,308,774.56, down from ¥68,290,891,853.26, representing a decrease of about 7.5% [26]. - Total liabilities decreased to ¥69,254,215,890.36 from ¥75,282,983,095.12, marking a reduction of approximately 8.3% [28]. - The company's non-current liabilities increased to ¥15,928,242,705.05, up from ¥14,349,405,894.46, indicating an increase of about 11% [28]. - Current liabilities decreased to approximately ¥53.33 billion in Q1 2024, down from ¥60.93 billion in Q1 2023 [48]. - Non-current liabilities increased to approximately ¥10.01 billion in Q1 2024, compared to ¥8.43 billion in Q1 2023 [48]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 106,507 [9]. - Equity attributable to shareholders of the listed company increased slightly to ¥39,042,461,426.97, reflecting a growth of 0.17% year-over-year [17]. - The total equity attributable to shareholders of the parent company was ¥39,042,461,426.97, a slight increase from ¥38,974,588,355.51 [28]. Strategic Initiatives - The company plans to change the purpose of repurchased shares from an employee stock ownership plan to convertible bonds, reflecting a strategic shift in capital management [24]. - The company has completed the second phase of targeted debt issuance for 2024, indicating ongoing financial activities to support operations [23]. - The company raised ¥10 billion through a targeted debt financing tool in early February 2024 [43]. Other Financial Metrics - Other income increased to approximately ¥25.26 million in Q1 2024, compared to ¥8.07 million in Q1 2023 [31]. - Financial expenses for Q1 2024 were approximately ¥629.27 million, a decrease of 4.8% from ¥661.00 million in Q1 2023 [31]. - Investment income for Q1 2024 was approximately ¥8.29 million, down 49.1% from ¥16.27 million in Q1 2023 [31]. - The company reported non-recurring gains and losses totaling ¥69,989,728.45 after tax impacts and minority interests [18]. - The company reported a 1,494.70% increase in asset impairment losses, primarily due to increased inventory write-downs [7].