Financial Performance - The company's revenue for Q1 2024 reached ¥860,077,905.82, representing a 49.52% increase compared to ¥575,226,664.07 in the same period last year[5] - Net profit attributable to shareholders was ¥79,425,409.00, a significant increase of 122.49% from ¥35,699,037.19 year-over-year[5] - Basic and diluted earnings per share increased to ¥0.55, up 111.54% from ¥0.26 in the same quarter last year[5] - The total operating revenue for the first quarter was CNY 860,077,905.82, representing an increase of 49.5% compared to CNY 575,226,664.07 in the previous period[26] - The net profit for Q1 2024 was CNY 78,945,834.64, a significant increase from CNY 34,724,262.02 in Q1 2023, representing a growth of approximately 127.6%[28] - The total profit before tax was CNY 85,663,924.02, compared to CNY 35,759,311.97 in the previous year, reflecting an increase of approximately 139.8%[28] - The total comprehensive income for Q1 2024 was CNY 78,945,834.64, compared to CNY 34,724,262.02 in Q1 2023, marking an increase of approximately 127.6%[29] Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥392,757,087.90, worsening by 268.24% compared to -¥106,657,145.53 in the previous year[11] - The company's cash and cash equivalents increased to CNY 1,004,739,168.96 from CNY 999,134,690.69, showing a slight growth of 0.2%[24] - The cash and cash equivalents at the end of the period stood at CNY 350,372,139.86, down from CNY 536,247,847.34 at the end of Q1 2023[31] - The net cash flow from financing activities was CNY 588,770,777.68, an increase from CNY 467,413,088.31 in Q1 2023[31] - The net cash flow from operating activities was negative at CNY -392,757,087.90, worsening from CNY -106,657,145.53 in the same period last year[30] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,368,267,459.56, a 7.77% increase from ¥7,764,748,271.13 at the end of the previous year[5] - Total liabilities increased to CNY 6,405,501,332.68, up 8.9% from CNY 5,877,603,823.16[25] - The company's equity attributable to shareholders rose to CNY 1,929,362,468.49, reflecting an increase of 4.1% from CNY 1,853,761,215.22[25] Shareholder Information - The total number of common shareholders at the end of the reporting period is 9,100[13] - The largest shareholder, Zhu Ye, holds 15.74% of shares, amounting to 22,604,850 shares, with 11,800,000 shares pledged[13] - The top ten shareholders include Shandong Jiangyi Investment Co., holding 9.75% of shares, totaling 14,005,000 shares[13] - The company’s shareholder, Ye Xiaohong, has a familial relationship with the controlling shareholder, Zhu Ye, and they have signed a concerted action agreement[14] Operational Highlights - The company reported a 3809.40% increase in other income, totaling ¥7,598,022.07, primarily due to increased government subsidies received[9] - The gross profit margin improved, with operating costs rising by 44.52% to ¥616,835,368.57, reflecting the growth in sales volume[9] - The company experienced a significant increase in financial expenses, which rose by 57.52% to ¥22,923,756.53 due to increased bank borrowings[9] - The company's long-term borrowings increased by 18.30% to ¥1,214,371,318.00, attributed to business expansion[8] - The company’s contract liabilities decreased by 35.27% to ¥497,272,634.30, mainly due to a reduction in advance payments received during the reporting period[8] Investment and Projects - The company has initiated a joint venture with JinkoSolar to build a solar cell research and production project with an annual capacity of 20GW, currently under construction[20] - The project will be developed in two phases, with the first phase targeting an annual output of 10GW for both silicon wafers and solar cells[20] - The company has a strategic focus on enhancing production capacity and maintaining competitive advantages through partnerships with leading manufacturers[20] - The company invested CNY 164,135,054.78 in fixed assets during the quarter, a significant increase from CNY 7,124,283.65 in the same period last year[31] Other Financial Metrics - The total operating costs amounted to CNY 744,506,068.23, up 39.5% from CNY 533,793,658.81 in the prior period[26] - The gross profit for the quarter was CNY 115,571,837.59, resulting in a gross margin of approximately 13.4%[26] - Accounts receivable rose to CNY 2,462,633,586.92, up 7.8% from CNY 2,284,526,852.84[24] - Inventory levels increased significantly to CNY 2,070,234,057.05, a rise of 16.0% compared to CNY 1,785,034,756.48[24] - The company reported a net loss from investments of CNY 65,299.45, an improvement from a loss of CNY 267,957.53 in the previous period[26] - The company reported a share-based payment expense impacting current profits by approximately 11.1758 million RMB[17]
仕净科技(301030) - 2024 Q1 - 季度财报