FORTUNE(603173)2024-04-26 08:27Revenue and Profit Growth - Revenue for the first quarter of 2024 was RMB 351,516,519.70, an increase of 3.53% year-over-year[5] - Net profit attributable to shareholders of the listed company was RMB 65,675,301.47, a significant increase of 86.33% year-over-year[5] - Basic earnings per share (EPS) were RMB 0.41, up 70.83% compared to the same period last year[5] - The increase in net profit was mainly due to higher revenue and gross margin, as well as the recovery of long-term accounts receivable and bad debt provisions[10] - Total revenue for Q1 2024 reached 351.52 million yuan, compared to 339.54 million yuan in Q1 2023, representing a 3.5% year-over-year increase[21] - Net profit attributable to parent company shareholders increased to 478.42 million yuan in Q1 2024, up from 412.74 million yuan in the previous quarter, a 15.9% quarter-over-quarter growth[19] - Net profit attributable to parent company shareholders increased to 65,675,301.47 yuan, up 86.3% compared to 35,247,208.78 yuan in the same period last year[23] - Basic earnings per share increased to 0.41 yuan, up 70.8% from 0.24 yuan in the previous year[23] Assets and Liabilities - Total assets at the end of the reporting period were RMB 4,367,486,161.47, a slight decrease of 0.67% compared to the end of the previous year[6] - Equity attributable to shareholders of the listed company increased by 4.53% to RMB 1,519,449,220.34[6] - Total assets as of March 31, 2024 stood at 4.37 billion yuan, a slight decrease of 0.7% from 4.40 billion yuan at the end of 2023[17][19] - Current assets totaled 3.85 billion yuan as of March 31, 2024, down 1.6% from 3.91 billion yuan at the end of 2023[17] - Total liabilities decreased by 3.2% to 2.85 billion yuan in Q1 2024 from 2.94 billion yuan at the end of 2023[18][19] - Contract liabilities increased by 2.1% to 1.43 billion yuan in Q1 2024 from 1.40 billion yuan at the end of 2023[18] Cash Flow and Investments - Operating cash flow was negative at -178,285,780.80 yuan, a 7.6% decrease from -165,693,349.46 yuan in the same period last year[26] - Cash and cash equivalents decreased by 15.7% to 1.15 billion yuan in Q1 2024 from 1.37 billion yuan at the end of 2023[17] - Cash and cash equivalents decreased by 203,478,663.32 yuan, a significant drop from an increase of 413,643,209.33 yuan in the same period last year[27] - Investment in fixed assets, intangible assets, and other long-term assets increased to 35,135,097.44 yuan, up 150.4% from 14,031,134.50 yuan in the previous year[26] - Tax refunds received increased significantly to 29,193,362.99 yuan, compared to 186,641.15 yuan in the same period last year[26] - Interest income rose to 4,252,702.71 yuan, a 48.0% increase from 2,872,954.18 yuan in the previous year[22] Operating Costs and Expenses - Operating costs for Q1 2024 were 301.65 million yuan, a decrease of 1.3% compared to 305.63 million yuan in Q1 2023[21] - R&D expenses rose to 18,629,433.00 yuan, a 29.0% increase from 14,436,836.41 yuan in the previous year[22] - Credit impairment losses surged to 14,550,474.93 yuan, a 302.3% increase from 3,616,774.77 yuan in the same period last year[22] Accounts Receivable and Inventory - Accounts receivable decreased by 16.8% to 411.61 million yuan in Q1 2024 from 494.64 million yuan at the end of 2023[17] - Inventory increased by 18.4% to 764.00 million yuan in Q1 2024 compared to 645.44 million yuan at the end of 2023[17] Non-Recurring Items and Shareholder Information - Non-recurring gains and losses amounted to RMB 12,375,424.47, including RMB 12,190,000.00 from debt restructuring[9] - The company's largest shareholder, Hangzhou Fushida Holding Co., Ltd., holds 59.82% of the shares[13] - The number of ordinary shareholders at the end of the reporting period was 12,718[12] Sales and Revenue - Sales revenue from goods and services reached 511,907,702.37 yuan, a 31.4% growth compared to 389,509,191.76 yuan in the previous year[26]