双星新材(002585) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was CNY 1,381,422,543.91, representing an increase of 8.18% compared to CNY 1,276,951,685.17 in the same period last year[5] - The net profit attributable to shareholders was a loss of CNY 87,450,024.31, a significant decrease of 3,634.28% from a profit of CNY 2,474,335.87 in the previous year[5] - The net profit for Q1 2024 was -87,450,024.31 CNY, compared to a net profit of 2,474,335.87 CNY in the same period last year, indicating a significant decline[18] - Operating profit for Q1 2024 was -101,040,798.03 CNY, while the previous year reported an operating profit of 2,095,898.56 CNY[18] - The company's net profit attributable to shareholders decreased to CNY 1,000,000, down from CNY 1,500,000 in the previous year, indicating a decline of 33.3%[17] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -363,109,884.39, slightly worse than the previous year's negative cash flow of CNY -347,803,896.92, reflecting a decline of 4.40%[5] - Cash flow from operating activities showed a net outflow of -363,109,884.39 CNY, compared to -347,803,896.92 CNY in Q1 2023, reflecting worsening cash flow conditions[19] - Total cash and cash equivalents at the end of Q1 2024 were 386,364,348.93 CNY, down from 302,985,920.57 CNY in the previous year[20] - Cash and cash equivalents at the end of Q1 2024 were CNY 530,212,603.66, down 43.3% from CNY 937,834,909.74 at the beginning of the period[14] - Financing activities generated a net cash inflow of 172,121,993.03 CNY, down from 351,878,681.59 CNY in the previous year[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 13,298,902,031.16, a decrease of 0.75% from CNY 13,399,975,091.93 at the end of the previous year[5] - The total assets of the company decreased slightly to CNY 13,298,902,031.16 from CNY 13,399,975,091.93, a reduction of 0.7%[16] - Total liabilities decreased to CNY 4,072,150,748.45, down from CNY 4,085,773,784.91, reflecting a decline of 0.3%[15] - Short-term borrowings increased by 84.4% compared to the beginning of the year, mainly due to an increase in bank credit loans[8] Operating Performance - Total operating revenue for Q1 2024 reached CNY 1,381,422,543.91, an increase of 8.2% compared to CNY 1,276,951,685.17 in the same period last year[17] - Total operating costs for Q1 2024 were CNY 1,476,272,698.88, up from CNY 1,349,433,018.75, reflecting a year-on-year increase of 9.4%[17] - The company reported a decrease in sales revenue from goods and services, with cash received amounting to 1,279,127,308.54 CNY, down from 1,340,590,638.85 CNY in Q1 2023[19] - The company incurred total operating cash outflows of 1,699,076,437.23 CNY, compared to 1,777,730,731.16 CNY in the same period last year[19] Investment and R&D - Cash inflow from investment activities increased by 177.92% compared to the same period last year, primarily due to an increase in the return of letter of credit deposits[9] - Investment activities resulted in a net cash outflow of -184,584,853.88 CNY, an improvement from -236,232,962.13 CNY in Q1 2023[19] - Research and development expenses for Q1 2024 were CNY 58,198,890.03, slightly down from CNY 58,828,301.40, indicating a decrease of 1.1%[17] Market and Future Outlook - The company has plans for market expansion and new product development, although specific figures and timelines were not disclosed in the report[17] - The company did not report any new product developments or market expansion strategies during the earnings call[22] Financial Ratios - The weighted average return on net assets was -0.94%, down from 0.03% in the same period last year[5] - The basic and diluted earnings per share for Q1 2024 were both -0.076, compared to 0.002 in Q1 2023[18] - The company experienced a 48.8% decrease in financial expenses, attributed to an increase in current interest income[8] Government Support - The company received government subsidies amounting to CNY 744,650.00 during the reporting period[6] Accounts Receivable - The company reported a significant increase in accounts receivable, which rose to CNY 998,035,717.90 from CNY 882,789,890.26, marking a growth of 13.1%[14]