长远锂科(688779) - 2024 Q1 - 季度财报

Financial Performance - Total operating revenue for Q1 2024 was CNY 1,087,644,532.34, a decrease of 43.77% compared to Q1 2023[15] - Net profit attributable to shareholders for Q1 2024 was CNY 3,191,924.08, an increase of 243.45% year-on-year[15] - The operating profit for the period was CNY 16,555,300.95, with total profit amounting to CNY 17,701,441.60[36] - The company reported a total comprehensive income of CNY 3,191,924.08, compared to CNY 929,379.00 in the previous period[48] Cash Flow - The net cash flow from operating activities for Q1 2024 was CNY -1,553,241,899.13, with no applicable year-on-year comparison[15] - The net cash flow from operating activities was negative at CNY -1,553,241,899.13, compared to CNY -2,046,684,585.50 in the previous period[49] - The net cash flow from financing activities was negative at ¥60 million, indicating cash outflows related to dividend payments and other financing activities[50] - The net increase in cash and cash equivalents for the period was approximately -¥1.73 billion, down from -¥2.16 billion in the previous year[50] - The ending balance of cash and cash equivalents was approximately ¥2.03 billion, compared to ¥2.61 billion at the end of Q1 2023, showing a decrease of about 22.5%[50] - The company reported a significant decrease in cash and cash equivalents, indicating potential liquidity challenges moving forward[50] Assets and Liabilities - The total assets of the company as of March 31, 2024, amounted to RMB 13,544,327,728.18, a decrease from RMB 14,156,607,899.48 as of December 31, 2023[23] - The company's total current liabilities decreased from RMB 3,304,131,883.42 to RMB 2,653,107,689.86 during the same period[26] - The total non-current liabilities increased slightly from RMB 3,302,322,388.73 to RMB 3,337,872,602.66[26] - The company's cash and cash equivalents decreased from RMB 3,842,360,354.61 to RMB 2,518,511,646.03[23] - Accounts receivable decreased from RMB 2,871,863,779.23 to RMB 1,552,308,551.78, indicating a significant reduction in outstanding payments[23] - The company's inventory increased from RMB 618,452,033.98 to RMB 956,337,280.85, reflecting a rise in stock levels[23] - The total equity attributable to shareholders increased slightly from RMB 7,550,153,627.33 to RMB 7,553,347,435.66[26] Research and Development - Research and development expenses for Q1 2024 were CNY 56,569,465.84, a slight decrease from CNY 60,540,353.78 in Q1 2023[15] - Research and development expenses totaled CNY 56,569,465.84, representing 5.20% of operating revenue, an increase of 2.07 percentage points[36] Government Support - Government subsidies related to assets amounted to CNY 3,487,630.26, classified as regular income[18] Shareholder Information - The company has a total of 25.30% of shares held by related parties, indicating potential influence on corporate governance[21] - The company has no significant changes in the participation of major shareholders in margin trading or securities lending activities[22] Other Financial Metrics - The company reported a financial expense of CNY 23,858,382.98 for Q1 2024, compared to a financial income of CNY -841,250.39 in Q1 2023[15] - The weighted average return on net assets increased to 0.04%, up by 0.03 percentage points[36] - The company received tax refunds amounting to approximately ¥57.36 million, down from ¥85.08 million in the same quarter last year[56] - Other cash received related to operating activities was approximately ¥89.74 million, compared to ¥129.06 million in Q1 2023, indicating a decline of about 30.4%[56] - The impact of exchange rate changes on cash and cash equivalents was a decrease of approximately ¥727.87 million[50] Market Strategy - The decrease in revenue was primarily due to a drop in upstream raw material prices, leading to a reduction in product prices[9] - The company plans to continue expanding its market presence and investing in new technologies to enhance product offerings[1] Mergers and Acquisitions - The company did not report any net profit from the merged entity prior to the merger, with both current and previous periods showing CNY 0[29] Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2024[58]