雪榕生物(300511) - 2024 Q1 - 季度财报

Revenue and Profit Performance - Revenue for Q1 2024 was RMB 603.99 million, a decrease of 28.30% compared to the same period last year[6] - Net profit attributable to shareholders was RMB 5.24 million, a significant drop of 97.65% year-over-year[6] - Operating revenue for the period was 603,985,503.43 yuan, down from 842,411,282.63 yuan in the previous period[22] - Net profit attributable to the parent company's owners was 158,112,113.47 yuan, up from 152,871,774.28 yuan[20] - Operating profit for the first quarter of 2024 was RMB 10,622,010.77, compared to RMB 233,488,096.74 in the same period last year[23] - Net profit attributable to the parent company's owners was RMB 5,240,339.19, down from RMB 222,710,908.61 year-over-year[23] - Basic and diluted earnings per share were both RMB 0.01, compared to RMB 0.45 in the previous year[23] Cash Flow and Financial Activities - Operating cash flow decreased by 73.04% to RMB 79.62 million due to lower product sales prices[12] - Investment cash flow was negative RMB 211.24 million, a 242.46% decrease, as the company recovered less principal from financial products compared to the previous year[12] - Cash received from sales of goods and services was RMB 613,305,153.07, a decrease from RMB 822,750,573.49 in the prior year[25] - Net cash flow from operating activities was RMB 79,620,418.03, significantly lower than RMB 295,287,662.74 in the same period last year[25] - Net cash flow from investing activities was negative RMB 211,239,268.15, compared to positive RMB 148,277,051.27 in the previous year[25] - Net cash flow from financing activities was RMB 622,031,168.28, a significant improvement from negative RMB 100,771,853.92 in the prior year[26] - The company's cash and cash equivalents increased by RMB 489,100,268.76 during the quarter, reaching RMB 647,061,490.68 at the end of the period[26] Assets and Liabilities - Total assets increased by 9.61% to RMB 5.04 billion, primarily due to increased bank borrowings[6] - Long-term borrowings surged by 199.77% to RMB 1.03 billion, driven by increased bank loans[10] - Total assets increased to 5,044,587,461.40 yuan, up from 4,602,166,751.34 yuan at the beginning of the period[19][20] - Total liabilities rose to 3,593,833,971.18 yuan, compared to 3,169,782,736.69 yuan at the start[20] - Short-term borrowings decreased to 878,528,871.09 yuan from 1,035,503,159.89 yuan[20] - Long-term borrowings increased significantly to 1,028,749,496.04 yuan from 343,184,757.78 yuan[20] - Cash and cash equivalents rose sharply to 647,877,203.54 yuan from 252,666,166.60 yuan[19] - Inventory increased to 479,143,223.23 yuan from 442,863,402.45 yuan[19] Expenses and Costs - Sales expenses decreased by 50.59% to RMB 8.27 million, reflecting the impact of marketing reforms implemented in the previous year[11] - Financial expenses rose by 56.90% to RMB 31.35 million, mainly due to increased exchange losses and interest payments[11] - Operating costs decreased to 602,081,762.76 yuan from 611,504,827.66 yuan in the prior period[22] - R&D expenses decreased to 1,518,369.89 yuan from 1,860,518.88 yuan[22] Shareholder and Equity Information - The total number of ordinary shareholders at the end of the reporting period is 34,776[14] - Yang Yongping holds 21.57% of the shares, totaling 107,606,850 shares, with 80,705,137 shares under restricted conditions[14] - Zhejiang Yinwan Private Fund Management Co., Ltd. holds 3.76% of the shares, totaling 18,734,600 shares[14] - The company's total restricted shares at the end of the period amounted to 80,772,074 shares, primarily due to executive lock-up restrictions[15] Convertible Bonds and Stock Price Adjustments - The company proposed to lower the conversion price of convertible bonds due to stock price conditions, with the adjusted price set at 4.20 yuan per share, effective from March 29, 2024[17] - The company's stock price triggered the downward adjustment condition for convertible bonds, with the adjusted price not lower than 4.18 yuan per share[17] - The company held its 2024 First Extraordinary General Meeting on March 28, 2024, approving the proposal to lower the conversion price of convertible bonds[16] - The company's board of directors approved the proposal to lower the conversion price of convertible bonds during the Fifth Board of Directors' Eighth Meeting on March 28, 2024[17] Non-Recurring Items and Equity Performance - Non-recurring gains and losses amounted to RMB 8.79 million, primarily from the disposal of fixed assets and government subsidies[8] - The company's weighted average return on equity dropped to 0.34%, down 11.66 percentage points from the previous year[6]