柳钢股份(601003) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 19,988,333,072.03, representing a year-on-year increase of 16.45%[6] - The net profit attributable to shareholders decreased significantly by 86.04% to CNY 37,494,961.84 compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 81.33% to CNY 30,129,259.28[6] - The basic and diluted earnings per share both dropped by 90.00% to CNY 0.01[6] - Operating profit for Q1 2024 was ¥32,334,340.89, a significant decrease from ¥263,159,594.96 in Q1 2023[19] - Net profit attributable to shareholders of the parent company for Q1 2024 was ¥37,494,961.84, down from ¥268,630,961.95 in Q1 2023, representing a decline of 86.0%[20] - Total comprehensive income for Q1 2024 was ¥38,255,880.81, compared to ¥265,830,203.14 in Q1 2023, a decrease of 85.6%[20] - Basic and diluted earnings per share for Q1 2024 were both ¥0.01, down from ¥0.10 in Q1 2023[20] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -3,779,347,449.27, indicating cash outflow[6] - The company's operating cash flow for Q1 2024 was negative at -3,779,347,449.27 RMB, compared to a positive cash flow of 11,095,082.39 RMB in Q1 2023, indicating a significant decline in operational efficiency[23] - Cash received from sales of goods and services in Q1 2024 was ¥14,703,186,854.11, down from ¥17,100,780,731.92 in Q1 2023, indicating a decline of 14.0%[22] - Cash and cash equivalents were reported at ¥3,077,853,096.58, significantly lower than ¥6,744,247,998.51 from the previous year, reflecting a decrease of approximately 54.3%[14] - Total cash and cash equivalents at the end of Q1 2024 were CNY 2.66 billion, down from CNY 7.09 billion at the end of Q1 2023[33] - The company reported cash inflows from financing activities of approximately CNY 1.43 billion in Q1 2024, a decrease from CNY 3 billion in Q1 2023[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 67,228,055,787.28, a decrease of 1.96% from the end of the previous year[7] - The company's current assets totaled ¥18,494,033,553.73, down from ¥19,766,098,499.69, indicating a decrease of about 6.43%[15] - The company's total assets decreased to 31,435,841,474.04 RMB as of March 31, 2024, down from 33,507,644,329.48 RMB at the end of 2023, indicating a reduction in asset base[26] - The company's total liabilities decreased to 22,035,486,153.88 RMB as of March 31, 2024, down from 24,146,056,702.63 RMB at the end of 2023, indicating a reduction in financial obligations[26] - Total liabilities decreased to ¥45,916,344,574.74 in Q1 2024 from ¥47,307,067,286.65 in Q1 2023, a reduction of 2.8%[19] Research and Development - Research and development expenses increased by 114.56%, indicating a significant increase in R&D efforts[9] - Research and development expenses increased to ¥509,657,944.61 in Q1 2024, compared to ¥237,532,167.37 in Q1 2023, reflecting a growth of 114.4%[19] - Research and development expenses increased significantly to 196,066,627.83 RMB in Q1 2024, up from 95,876,365.09 RMB in Q1 2023, representing a growth of approximately 104.5%[28] Operational Challenges - The company faced challenges due to declining steel prices and increased pressure on cash flow from sales, impacting overall profitability[9] - The company reported a significant increase in operating costs by 16.78%, primarily due to rising material costs[9] - The gross profit margin for Q1 2024 was approximately 3.4%, down from the previous year's margin, reflecting increased cost pressures[28] Inventory and Receivables - Accounts receivable increased to ¥1,419,276,374.65 from ¥757,448,777.04, marking an increase of about 87.5%[14] - Inventory levels rose to ¥9,520,370,665.66 compared to ¥9,335,881,922.09, showing an increase of approximately 1.98%[15] - The company's inventory increased to 4,719,992,316.12 RMB as of March 31, 2024, compared to 4,518,056,059.46 RMB at the end of 2023, indicating potential overstocking issues[25] Financing and Investments - The company has not reported any significant changes in its financing or shareholding structure during the reporting period[13] - The company invested CNY 35.53 million in fixed assets in Q1 2024, significantly lower than CNY 143.47 million in Q1 2023[31] - The company reported a decrease in financial expenses to ¥218,512,760.67 in Q1 2024 from ¥182,825,688.08 in Q1 2023, an increase of 19.5%[19]