Financial Performance - Operating revenue for the first quarter of 2024 was ¥61,912,516.00, representing a significant decrease of 43.08% compared to ¥108,762,814.62 in the same period last year[10] - Net profit attributable to shareholders for the first quarter of 2024 was ¥2,157,299.76, down 87.72% from ¥17,571,012.23 year-on-year[10] - Total operating revenue for Q1 2024 was CNY 61,912,516, a decrease from CNY 108,762,814.62 in Q1 2023, representing a decline of approximately 43%[43] - The net profit for Q1 2024 was ¥3,587,056.70, down 74.8% from ¥14,220,828.69 in Q1 2023[47] - The total profit for Q1 2024 was ¥3,876,964.44, a decline of 76.5% from ¥16,484,717.29 in Q1 2023[46] - The company’s total comprehensive income for Q1 2024 was ¥3,587,056.70, a decrease of 74.8% from ¥14,220,828.69 in Q1 2023[47] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥14,901,638.81, an improvement of 78.77% compared to the previous year's outflow of ¥70,195,527.25[10] - The company reported a net cash outflow from operating activities of ¥14,901,638.81 in Q1 2024, compared to a net outflow of ¥70,195,527.25 in Q1 2023[48] - Cash flow from operating activities for Q1 2024 was -12,266,511.29, compared to -63,804,037.05 in Q1 2023, indicating an improvement[51] - The ending cash and cash equivalents balance for Q1 2024 was 36,819,499.51, compared to 6,735,526.30 in Q1 2023, showing a strong liquidity position[52] - The net increase in cash and cash equivalents for Q1 2024 was -16,783,427.86, compared to -71,585,794.55 in Q1 2023, indicating reduced cash burn[52] Assets and Liabilities - Total assets as of March 31, 2024, amounted to ¥877,373,985.23, reflecting a 1.24% increase from the end of the previous year[10] - The company's total liabilities increased to ¥226,354,433.25 from ¥217,824,137.75, reflecting a rise in financial obligations[39] - The company has pledged assets worth ¥40,509,119.41, which represents 4.62% of total assets, primarily for securing loans[32] - Total current assets increased slightly to CNY 596,348,334.63 as of March 31, 2024, compared to CNY 591,559,672.19 as of December 31, 2023, showing a growth of approximately 1.3%[40] Shareholder Information - The number of common shareholders is 4,995[19] - The largest shareholder, Wang Laifu, holds 63.11% of the shares, totaling 58,220,000 shares[22] - The company has a total of 69,325,988 shares held by the top ten shareholders, representing 75.15% of total shares[22] - The company has implemented a stock incentive plan, with 1,000,000 shares granted to 21 individuals, including directors and core employees[30] - The first unlock period for the stock incentive plan has been completed, with 975,000 shares eligible for trading[30] Expenses - The gross profit margin decreased due to a combination of reduced sales prices and increased costs associated with raw materials[12] - The financial expenses surged by 359.90% to ¥510,603.73, attributed to increased bank loan balances and reduced interest income[12] - Research and development expenses increased to CNY 5,813,166.42 in Q1 2024, compared to CNY 5,103,698.39 in Q1 2023, reflecting a growth of approximately 14%[43] Other Financial Metrics - The company's current assets totaled ¥713,691,631.70, compared to ¥699,808,376.91 at the end of 2023, indicating a growth in liquidity[37] - The company’s inventory increased to ¥297,976,689.53 from ¥248,318,053.31, suggesting a buildup in stock levels[37] - The company incurred credit impairment losses of ¥736,217.06 in Q1 2024, significantly higher than ¥274,354.58 in Q1 2023[46] - The company's operating profit for Q1 2024 was ¥3,888,079.02, down 76.5% from ¥16,491,917.27 in Q1 2023[46]
惠丰钻石(839725) - 2024 Q1 - 季度财报