NCFC(600889)2024-04-25 08:21Financial Performance - The company's operating revenue for Q1 2024 was CNY 106,362,030.49, representing a year-on-year increase of 2.05%[6] - The net profit attributable to shareholders was a loss of CNY 32,608,317.12, with a basic and diluted earnings per share of -0.09 yuan[6] - Total operating revenue for Q1 2024 was CNY 106,362,030.49, a slight increase from CNY 104,227,297.86 in Q1 2023, representing a growth of approximately 2.05%[21] - The net loss attributable to shareholders was CNY -327,646,646.09 in Q1 2024, worsening from CNY -295,038,328.97 in Q1 2023[18] - Net profit for Q1 2024 was reported at a loss of ¥35,618,772.23, an improvement from a loss of ¥48,504,213.60 in Q1 2023, reflecting a reduction in losses of about 26.5%[22] - Total comprehensive income for Q1 2024 was a loss of ¥35,832,265.99, compared to a loss of ¥47,724,497.25 in Q1 2023, indicating a decrease in losses of approximately 25.0%[23] - Basic and diluted earnings per share for Q1 2024 were both reported at -¥0.09, an improvement from -¥0.12 in Q1 2023[23] Assets and Liabilities - The total assets at the end of Q1 2024 were CNY 1,678,231,633.21, an increase of 5.57% compared to the end of the previous year[7] - The total assets of the company reached CNY 1,678,231,633.21 as of March 31, 2024, compared to CNY 1,589,729,319.33 at the end of 2023, indicating an increase of about 5.57%[18] - The equity attributable to shareholders decreased by 3.68% to CNY 840,366,664.68[7] - Current liabilities totaled CNY 485,248,839.61 as of March 31, 2024, compared to CNY 387,477,834.26 at the end of 2023, reflecting an increase of about 25.29%[17] - Long-term borrowings increased to CNY 242,218,660.76 as of March 31, 2024, from CNY 213,468,548.43 at the end of 2023, representing a growth of approximately 13.52%[17] Cash Flow - The cash flow from operating activities showed a net outflow of CNY 46,127,355.37[6] - Operating cash flow for Q1 2024 was negative at ¥46,127,355.37, an improvement from negative ¥89,606,331.14 in Q1 2023, showing a reduction in cash outflow of about 48.5%[27] - The company reported cash inflows from operating activities totaling ¥89,308,097.69 in Q1 2024, up from ¥58,599,791.49 in Q1 2023, representing an increase of about 52.3%[27] - Cash inflows from financing activities in Q1 2024 amounted to ¥103,983,003.40, compared to ¥59,341,276.98 in Q1 2023, indicating an increase of approximately 75.2%[28] Expenses - Total operating costs decreased to CNY 142,567,790.02 in Q1 2024 from CNY 152,974,734.54 in Q1 2023, reflecting a reduction of about 6.73%[21] - The company reported a decrease in management expenses to CNY 23,140,574.15 in Q1 2024 from CNY 28,500,979.55 in Q1 2023, a reduction of approximately 18.67%[21] - R&D expenses for Q1 2024 increased to ¥3,733,714.47 from ¥3,420,257.95 in Q1 2023, representing an increase of approximately 9.2%[22] - Financial expenses rose by 320.92% due to increased financing amounts and corresponding interest expenses[9] - Financial expenses surged to ¥2,604,955.20 in Q1 2024, compared to ¥618,869.74 in Q1 2023, marking a significant increase of approximately 320.5%[22] Receivables and Inventory - Accounts receivable increased by 48.69% due to an increase in receivables from the water service center[9] - Accounts receivable decreased to CNY 23,915,445.67 in Q1 2024 from CNY 16,084,600.73 in Q1 2023, indicating a significant increase of about 48.56%[16] - Inventory rose to CNY 176,196,739.98 as of March 31, 2024, up from CNY 138,115,380.95 at the end of 2023, marking an increase of approximately 27.56%[16] - Prepayments increased by 149.45% due to higher advance payments for materials[9] - Contract liabilities surged by 369.39% as a result of an increase in contracts awaiting performance[9]