YT Tech(002861)2024-04-25 16:54Financial Performance - The company's revenue for Q1 2024 was ¥161,946,180.25, representing a 34.19% increase compared to ¥120,679,839.79 in the same period last year[6]. - The net profit attributable to shareholders was a loss of ¥8,027,844.04, an improvement of 58.04% from a loss of ¥19,132,032.58 in Q1 2023[6]. - The company reported a net loss of ¥9,539,585.30 for Q1 2024 compared to a net profit of ¥1,486,839.49 in Q1 2023[29]. - The total comprehensive income for the first quarter was -8,942,405.12 CNY, compared to -19,894,529.11 CNY in the previous year, indicating a reduction of about 55%[32]. - The basic and diluted earnings per share were both -0.05 CNY, an improvement from -0.12 CNY in the prior year[32]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥8,692,991.36, a decline of 159.29% compared to a positive cash flow of ¥14,661,591.89 in the previous year[6]. - Cash and cash equivalents at the end of Q1 2024 were ¥91,745,487.69, a decrease of 66.35% from ¥272,618,975.91 at the end of the previous year[16]. - Cash flow from operating activities showed a net outflow of -8,692,991.36 CNY, a significant decline from a net inflow of 14,661,591.89 CNY in the same quarter last year[32]. - The company reported cash inflows from operating activities of 222,628,622.52 CNY, compared to 184,668,251.24 CNY in the previous year, reflecting a growth of approximately 20.5%[32]. - The net cash flow from financing activities was 10,138,912.50 CNY, down from 48,068,598.63 CNY in the previous year, representing a decline of approximately 78.9%[33]. Assets and Liabilities - The total assets at the end of Q1 2024 were ¥1,605,868,076.27, down 2.27% from ¥1,643,235,237.78 at the end of the previous year[6]. - Total liabilities decreased to ¥770,007,353.87 from ¥799,210,536.40, a reduction of 3.7%[28]. - Accounts receivable decreased to ¥147,117,989.50 from ¥192,817,546.64, a reduction of 23.7%[27]. - Inventory increased to ¥102,050,583.98, up 19.6% from ¥85,272,754.99[27]. Operating Costs and Profitability - The company's operating costs increased to ¥132,239,274.86, a rise of 30.69% from ¥101,188,149.10 in the previous year, primarily due to increased revenue[13]. - Total operating costs for Q1 2024 were ¥171,485,765.55, up 20.6% from ¥142,193,000.30 in Q1 2023[29]. - Gross profit margin decreased to approximately 7.5% in Q1 2024 from 10.5% in Q1 2023 due to rising costs[29]. Investments and Projects - The total investment for the Yingtong Communications (Guangdong-Hong Kong-Macao Greater Bay Area) smart manufacturing project is planned at RMB 510 million, with the company contributing RMB 100 million in self-owned funds[21]. - The project land area has been secured at 41,327.84 square meters, and the main structure has been successfully capped, with subsequent construction and acceptance work progressing steadily[21]. - The company signed a cooperation framework agreement for the Yingtong Wuhan headquarters project, which will be managed by the newly established Wuhan Yingtong Intelligent Technology Co., Ltd.[22]. - The Wuhan headquarters project land area is 15,270.48 square meters, and the company has obtained the real estate certificate, with construction already underway[23]. - The company plans to transfer 100% equity of its wholly-owned subsidiary, Dongguan Yingtong Electric Wire Co., Ltd., to Dongguan Hengyue Industrial Co., Ltd., with an estimated transaction price of RMB 106.8 million[24]. Government Support - The company received government subsidies amounting to ¥527,998.79, which included funds for foreign trade development and vocational training[7]. Future Outlook - The company plans to focus on expanding its market presence and investing in new technologies to drive future growth[29].