ZXFC(002915)2024-04-25 11:53Financial Performance - The company's revenue for Q1 2024 was CNY 317,726,775.95, representing an increase of 8.76% compared to CNY 292,124,448.80 in the same period last year[5]. - Net profit attributable to shareholders decreased by 90.68% to CNY 2,553,569.05 from CNY 27,400,008.09 year-on-year[5]. - The company reported a 77.42% decline in total profit to CNY 8,671,259.51, primarily due to a decrease in operating profit[9]. - In Q1 2024, the company reported a net profit of CNY 7,931,048.42, a significant decrease from CNY 30,610,881.45 in the same period last year, representing a decline of approximately 74.0%[19]. - The company's operating profit for Q1 2024 was CNY 8,841,962.44, compared to CNY 39,873,391.20 in Q1 2023, indicating a decrease of about 77.8%[19]. - The company’s total comprehensive income for Q1 2024 was CNY 7,931,048.42, down from CNY 30,610,881.45 in Q1 2023, indicating a decline of approximately 74.0%[20]. - Basic and diluted earnings per share for Q1 2024 were both CNY 0.0078, compared to CNY 0.0835 in the same period last year, a decrease of about 90.6%[20]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to CNY 7,179,218.34, compared to a negative cash flow of CNY -112,962,334.57 in the previous year, marking a 106.36% increase[5]. - The company’s total cash and cash equivalents at the end of Q1 2024 were CNY 209,984,130.35, down from CNY 394,402,875.55 at the end of Q1 2023[23]. - The cash and cash equivalents at the end of Q1 2024 were RMB 232,017,515.24, down from RMB 247,025,337.67 at the beginning of the quarter, a decrease of 6.5%[15]. - The company incurred research and development expenses of CNY 5,805,219.20, slightly up from CNY 5,719,936.09 in the previous year, reflecting a focus on innovation[19]. - The company’s investment activities resulted in a net cash outflow of CNY -152,485,194.09, compared to CNY -88,753,096.93 in Q1 2023, indicating increased investment expenditures[23]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,211,004,275.43, a slight increase of 0.62% from CNY 3,191,156,380.44 at the end of the previous year[5]. - Total assets as of March 31, 2024, were RMB 3,211,004,275.43, compared to RMB 3,191,156,380.44 at the beginning of the quarter, reflecting a growth of 0.6%[17]. - Total liabilities increased to RMB 1,480,866,480.57 from RMB 1,468,949,634.00, an increase of 0.8%[17]. - The company’s short-term borrowings increased by 23.96% to CNY 634,497,122.05, reflecting an increase in bank loans[9]. - Short-term borrowings increased to RMB 634,497,122.05 from RMB 511,852,508.64, an increase of 24%[17]. - The company’s total liabilities increased, with interest expenses rising to CNY 8,982,188.26 from CNY 6,535,318.55 in the previous year, reflecting higher borrowing costs[19]. Accounts Receivable and Inventory - Accounts receivable decreased by 29.37% to CNY 230,317,395.77, primarily due to the collection of sales payments[8]. - Accounts receivable decreased to RMB 230,317,395.77 from RMB 326,088,995.45, representing a decline of 29.3%[16]. - Inventory at the end of Q1 2024 was RMB 350,676,243.50, down from RMB 376,708,948.11, a decrease of 6.9%[16]. - Prepayments increased significantly by 363.09% to CNY 56,698,877.71, mainly due to increased advance payments for raw materials and equipment[9]. Revenue and Costs - The total operating revenue for Q1 2024 was RMB 317,726,775.95, an increase of 8.8% compared to RMB 292,124,448.80 in the same period last year[18]. - The total operating costs for Q1 2024 amounted to RMB 303,384,589.00, up from RMB 259,208,842.31, reflecting a year-over-year increase of 16.9%[18]. - Total revenue from sales of goods and services reached CNY 226,962,432.04, up from CNY 121,692,907.95 in the previous year, marking an increase of approximately 86.6%[22]. Shareholder Information - The company’s weighted average return on equity decreased to 0.17% from 1.39% year-on-year[5]. - The company plans to issue shares to specific targets as approved in the board meeting on January 24, 2024, indicating potential future capital expansion[13].