WESTERN ANIMAL(300106)2024-04-26 07:58Financial Performance - The company's operating revenue for Q1 2024 was ¥236,493,578.79, a decrease of 16.23% compared to ¥282,326,439.25 in the same period last year[4] - The net profit attributable to shareholders was -¥4,267,655.30, representing a decline of 296.01% from ¥2,177,215.48 in the previous year[4] - The basic earnings per share for Q1 2024 were -¥0.0202, a decrease of 296.12% from ¥0.0103 in the same period last year[4] - Net profit for Q1 2024 was a loss of CNY 3,235,770.32, compared to a profit of CNY 9,213,121.80 in Q1 2023[22] Cash Flow - The net cash flow from operating activities was -¥46,510,683.15, a decrease of 73.22% compared to -¥26,850,111.74 in the same period last year[4] - Cash inflow from operating activities totaled 232,709,896.78, down from 252,655,500.62 in the previous period, reflecting a decrease of approximately 7.4%[25] - Cash outflow from operating activities was 279,220,579.93, slightly decreased from 279,505,612.36, showing a marginal improvement[25] - The net cash flow from investing activities was -4,327,664.79, compared to -1,895,917.00 in the previous period, indicating increased investment outflows[26] - The net cash flow from financing activities decreased by 189.82%, amounting to a reduction of ¥15,645,284.74, primarily due to lower cash received from borrowings[12] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥1,197,340,662.91, down 0.48% from ¥1,203,154,298.58 at the end of the previous year[5] - Total liabilities decreased slightly to CNY 523,635,617.38 from CNY 526,213,482.73, a reduction of 0.5%[20] - The company's equity attributable to shareholders decreased to CNY 537,024,240.12 from CNY 541,291,895.42, a decline of 0.8%[20] Research and Development - The company's R&D expenses increased by 182.19% to ¥1,463,626.83 compared to the previous year, indicating a focus on product development[9] - Research and development expenses increased to CNY 1,492,530.81, up from CNY 528,903.98 in the previous year, highlighting a commitment to innovation[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,386[14] - The largest shareholder, Shihezi State-owned Assets Management (Group) Co., Ltd., holds 41.82% of shares, totaling 88,378,171 shares[14] - The company has no changes in the top 10 shareholders due to securities lending activities[15] Other Financial Metrics - The company reported a significant increase in credit impairment losses by 478.65%, amounting to ¥3,805,041.58, primarily due to increased recognition of losses by a subsidiary[10] - The company experienced a 32.26% reduction in sales expenses, amounting to a decrease of ¥6,178,393.09, attributed to lower sales volumes[9] - The investment income decreased by 32.54%, totaling a reduction of ¥1,451,376.20 compared to the previous year[10] - The company's cash and cash equivalents decreased from 307,166,615.69 RMB to 248,925,109.68 RMB, a decline of approximately 19%[18] - Accounts receivable increased from 208,651,515.81 RMB to 236,361,176.42 RMB, representing a growth of about 13.3%[18] - The company reported a significant increase in prepayments from 54,135,275.43 RMB to 67,605,879.66 RMB, an increase of approximately 24.9%[18] - The company reported a significant increase in accounts payable, rising to CNY 149,844,696.34 from CNY 134,543,185.08, an increase of 11.4%[20] Legal Matters - The company is actively appealing a court ruling that supports the dissolution of its subsidiary, Xinjiang Western Zhunghua Animal Husbandry Co., Ltd.[16] - The company is committed to protecting its legal rights in ongoing litigation regarding its subsidiary[16] Audit Status - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[27]