SENSSUN(002870)2024-04-25 07:51Financial Performance - The company's revenue for Q1 2024 reached ¥1,485,416,004.27, representing a year-on-year increase of 22.21% compared to ¥1,215,473,228.30 in the same period last year[5] - Net profit attributable to shareholders was ¥44,452,962.50, up 25.44% from ¥35,437,255.86 in the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥42,182,173.66, reflecting a significant increase of 36.02% year-on-year[5] - The total operating revenue for the first quarter of 2024 was CNY 1,485,416,004.27, an increase of 22.1% compared to CNY 1,215,473,228.30 in the same period last year[20] - The operating profit for Q1 2024 was CNY 86,227,854.72, compared to CNY 80,841,742.25 in Q1 2023, reflecting a growth of 6.5%[21] - The company's net profit for Q1 2024 reached CNY 72,437,795.08, an increase of 12.5% compared to CNY 64,534,994.68 in Q1 2023[21] - The total comprehensive income for Q1 2024 was CNY 69,732,681.65, a decrease of 18.7% from CNY 85,836,709.63 in Q1 2023[21] - Basic and diluted earnings per share increased to CNY 0.34 from CNY 0.27, representing a growth of 25.9%[21] Revenue and Costs - The automotive parts business generated revenue of ¥1,323,000,000, marking a year-on-year growth of 23.67%[9] - The total operating costs for the first quarter of 2024 were CNY 1,398,772,836.67, up 22.3% from CNY 1,144,161,283.51 in the previous year[20] Cash Flow and Assets - The company's cash flow from operating activities decreased by 41.35% to ¥55,805,371.22, primarily due to increased working capital investments[10] - The company's cash and cash equivalents increased to CNY 858,450,731.85 from CNY 687,069,685.79, reflecting a growth of 25%[17] - Cash and cash equivalents at the end of Q1 2024 were CNY 729,916,568.42, an increase from CNY 554,497,288.57 at the end of Q1 2023[23] - The company reported a net cash flow from financing activities was CNY 387,638,758.15, compared to CNY 28,235,061.55 in the previous year, indicating a substantial increase[23] - The company's net cash flow from operating activities of CNY 55,805,371.22, down 41.3% from CNY 95,152,465.95 in Q1 2023[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,027,095,131.54, a 5.02% increase from ¥7,643,430,018.27 at the end of the previous year[5] - The total assets as of March 31, 2024, were CNY 8,027,095,131.54, compared to CNY 7,643,430,018.27 at the beginning of the year, indicating a growth of 5%[19] - The total liabilities increased to CNY 5,371,229,413.83 from CNY 5,059,115,512.72, reflecting a growth of 6.2%[18] - The company's short-term borrowings rose to CNY 1,126,632,268.46 from CNY 939,982,512.67, an increase of 19.9%[18] - The company reported a decrease in accounts receivable to CNY 892,981,753.60 from CNY 1,014,222,938.04, a decline of 12%[17] Research and Development - Research and development expenses for the first quarter of 2024 were CNY 92,525,149.31, up 25.9% from CNY 73,432,062.63 in the previous year[20] - The company is actively developing new products and technologies, particularly in the field of smart automotive components, to capitalize on the growing demand in the market[9] Strategic Focus - The company is focusing on expanding its global presence and enhancing production capacity to meet the growing demand for its products, particularly in the electric vehicle sector[9] - The company is in the process of issuing convertible bonds to unspecified investors, pending approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission, which carries significant uncertainty[14] Non-Recurring Items - The company reported a non-recurring gain of ¥6,301,140.15 from the disposal of non-current assets during the quarter[6] - The company experienced a decrease in other comprehensive income, with a net loss of CNY 2,705,113.43 compared to a gain of CNY 21,301,714.95 in Q1 2023[21]