SENCI ELECTRIC MACHINERY CO.(603109)2024-04-26 08:24Financial Performance - The company's operating revenue for Q1 2024 was ¥527,481,416.17, a decrease of 28.04% compared to ¥733,035,467.79 in the same period last year[6] - The net profit attributable to shareholders for Q1 2024 was ¥18,083,360.81, down 72.15% from ¥64,928,715.64 year-on-year[6] - The basic earnings per share for Q1 2024 decreased by 72.44% to ¥0.0860 from ¥0.3120 in the previous year[7] - In Q1 2024, the company's revenue and net profit decreased by 28.04% and 72.15% year-on-year, respectively[17] - Total operating revenue for Q1 2024 was ¥527,481,416.17, a decrease of 28.1% compared to ¥733,035,467.79 in Q1 2023[24] - Net profit for Q1 2024 was ¥18,083,360.81, a decline of 72.1% from ¥64,928,715.64 in Q1 2023[25] - Basic earnings per share for Q1 2024 were ¥0.0860, compared to ¥0.3120 in Q1 2023, reflecting a decrease of 72.5%[26] - The total comprehensive income for Q1 2024 was ¥16,027,709.92, down 75.7% from ¥65,770,448.18 in Q1 2023[26] Cash Flow - The net cash flow from operating activities was negative at -¥35,763,176.41, compared to -¥7,537,366.39 in the same period last year, reflecting a decline of 617.85%[7] - In Q1 2024, the net cash flow from operating activities was -6.91 million in Q1 2023, representing a year-over-year decrease of approximately 617%[28] - Total cash inflow from operating activities decreased to 762.39 million in Q1 2023[28] - Cash outflow from operating activities was 755.49 million in Q1 2023, reflecting a decrease of 24.3%[29] - The net cash flow from investment activities was -267.12 million in Q1 2023[29] - Cash inflow from financing activities totaled 296.24 million in Q1 2023[30] - The net cash flow from financing activities was 147.52 million in Q1 2023, indicating a decrease of 34.5%[30] - The ending cash and cash equivalents balance decreased to 815.72 million in Q1 2023, a decline of 26.7%[30] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥3,269,308,780.10, a decrease of 1.36% from ¥3,314,406,719.10 at the end of the previous year[7] - The total current assets as of March 31, 2024, amounted to RMB 2,319,195,214.25, down from RMB 2,417,618,013.05 at the end of 2023[20] - The company's cash and cash equivalents were RMB 898,648,010.54, a decrease from RMB 1,042,240,505.04 at the end of 2023[19] - Short-term borrowings rose to RMB 125,000,000.00 from RMB 75,056,145.86 at the end of 2023, reflecting increased leverage[20] - Total liabilities as of Q1 2024 amounted to ¥1,445,709,212.94, a reduction of 4.1% from ¥1,506,849,981.86 in the previous year[24] - Total equity attributable to shareholders increased to ¥1,823,599,567.16 in Q1 2024, up from ¥1,807,556,737.24 in Q1 2023[24] Operational Changes - The company completed the acquisition of 100% equity in Chongqing Kaimier Power Machinery Co., Ltd. and Chongqing Wugu General Equipment Co., Ltd. in April 2023, leading to retrospective adjustments in financial data[8] - The company's financial expenses increased by 134.43% due to changes in exchange rate gains and losses[12] - The company reported a decrease of 61.95% in net profit attributable to shareholders after deducting non-recurring gains and losses, primarily due to declining revenue[12] - The company experienced a 71.08% increase in net cash flow from investing activities, attributed to reduced investment in financial products and increased fixed asset purchases[12] - The company is experiencing growth in new business areas such as agricultural machinery and energy storage products, despite the decline in traditional business[17] Inventory and Receivables - Inventory increased to RMB 579,212,116.52 from RMB 534,646,738.93 at the end of 2023, indicating a rise in stock levels[19] - The company’s accounts receivable decreased to RMB 423,039,950.55 from RMB 435,421,275.31 at the end of 2023[19] - The company’s total non-current assets increased to RMB 950,113,565.85 from RMB 896,788,706.05 at the end of 2023[20] Research and Development - Research and development expenses for Q1 2024 were ¥19,070,823.24, a decrease of 11.5% from ¥21,405,391.41 in Q1 2023[24]