Beijing Yupont Electric Power Technology (688597)2024-04-25 10:14Financial Performance - The company's operating revenue for Q1 2024 was ¥95,369,857.56, representing a year-on-year increase of 35.97%[5] - The net profit attributable to shareholders was -¥7,900,133.88, a decrease of 54.82% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥8,819,270.16, down 53.71% year-on-year[5] - Net loss for Q1 2024 was ¥8,547,128.65, compared to a net loss of ¥5,102,789.38 in Q1 2023, representing a 67.9% increase in losses[23] - Total operating revenue for Q1 2024 reached ¥95,369,857.56, a 35.9% increase from ¥70,140,209.12 in Q1 2023[22] - Total operating costs increased to ¥109,422,680.34, up 33.7% from ¥81,860,588.27 in the same period last year[22] - Total comprehensive income for Q1 2024 was ¥6,695,086.96, compared to a total comprehensive loss of ¥5,102,789.38 in Q1 2023[24] Cash Flow and Liquidity - The net cash flow from operating activities was -¥15,699,467.89, reflecting a significant increase in labor costs[6] - Cash flow from operating activities showed a net outflow of ¥15,699,467.89, worsening from a net outflow of ¥679,910.86 in the previous year[26] - Investment activities resulted in a net cash outflow of ¥390,698,407.71, compared to a net inflow of ¥32,752,273.31 in Q1 2023[26] - Cash and cash equivalents decreased from CNY 840,687,513.28 to CNY 432,347,049.85, a reduction of about 48.6%[17] - Cash and cash equivalents at the beginning of the period were 442,149,571.54 in the previous year[27] - Cash and cash equivalents at the end of the period were 389,613,210.01 year-over-year[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,615,187,037.78, down 9.73% from the end of the previous year[6] - The company reported a total asset value of CNY 1,615,187,037.78 as of March 31, 2024, down from CNY 1,789,374,253.05 as of December 31, 2023[18] - The total current assets decreased from CNY 1,206,782,734.80 as of December 31, 2023, to CNY 1,019,727,473.66 as of March 31, 2024, representing a decline of approximately 15.6%[17] - Total liabilities decreased slightly from CNY 791,039,585.72 to CNY 788,814,779.34, a decrease of about 0.3%[19] - The total equity attributable to shareholders decreased from CNY 992,063,667.46 to CNY 820,219,253.21, a decline of approximately 17.3%[19] - The company’s non-current assets increased from CNY 582,591,518.25 to CNY 595,459,564.12, an increase of about 2.5%[18] Expenses and Investments - Research and development expenses totaled ¥14,225,856.01, accounting for 14.92% of operating revenue, a decrease of 2.47 percentage points[6] - Research and development expenses increased to ¥14,225,856.01, up 16.7% from ¥12,192,027.02 in the previous year[22] - The company incurred an interest expense increase of ¥3,751,000 due to the issuance of convertible bonds in July 2023[10] - The company reported a significant increase in financial expenses, with interest expenses rising to ¥4,632,878.12 from ¥1,626,359.93 in Q1 2023[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,023[13] - The diluted earnings per share were -¥0.02, with a 33.33% increase attributed to the increase in share capital from the previous year[10] - Basic earnings per share for Q1 2024 was -¥0.03, unchanged from -¥0.03 in Q1 2023[24] Business Developments - The establishment of Yubang Zhiyuan for energy storage business has resulted in a loss of ¥1,839,000 during the current period[10] - The company has adopted new accounting standards starting in 2024, which may affect the financial statements[27]