SAIC MOTOR(600104)2024-04-29 07:35Financial Performance - Total revenue for Q1 2024 was approximately ¥143.07 billion, a decrease of 1.95% compared to the same period last year[4]. - Net profit attributable to shareholders was approximately ¥2.71 billion, down 2.48% year-on-year[4]. - The basic earnings per share for Q1 2024 was ¥0.236, reflecting a decrease of 2.48% year-on-year[4]. - Net profit for Q1 2024 was ¥2.85 billion, down 30.8% from ¥4.13 billion in Q1 2023[17]. - Operating profit for Q1 2024 was ¥3.17 billion, a decline of 43.1% compared to ¥5.58 billion in Q1 2023[17]. - Earnings per share for Q1 2024 was ¥0.236, slightly down from ¥0.242 in Q1 2023[17]. - Other comprehensive income after tax for Q1 2024 was ¥326.46 million, down from ¥1.38 billion in Q1 2023[17]. Cash Flow - Operating cash flow showed a significant improvement, with a net cash flow of approximately -¥4.55 billion, an increase of 53.91% compared to the previous year[4][7]. - In Q1 2024, the cash inflow from operating activities was CNY 173.78 billion, a decrease of 21.3% compared to CNY 220.82 billion in Q1 2023[19]. - The net cash flow from operating activities was negative at CNY -4.55 billion, improving from CNY -9.86 billion in the same period last year[19]. - The cash inflow from investment activities totaled CNY 119.11 billion, down from CNY 127.84 billion in Q1 2023, resulting in a net cash outflow of CNY -3.10 billion[20]. - The cash inflow from financing activities was CNY 37.44 billion, significantly higher than CNY 26.59 billion in Q1 2023, leading to a net cash inflow of CNY 11.24 billion[20]. - The company reported a significant increase in cash received from financing activities, particularly from loans, which amounted to CNY 28.87 billion, compared to CNY 19.65 billion in Q1 2023[20]. Assets and Liabilities - Total assets at the end of Q1 2024 were approximately ¥959.58 billion, a decrease of 4.68% from the end of the previous year[5]. - The total current assets as of March 31, 2024, amount to ¥585,168,227,514.01, a decrease from ¥619,608,636,778.94 as of December 31, 2023[13]. - The total non-current assets as of March 31, 2024, are ¥374,407,344,150.45, down from ¥387,041,641,882.60[14]. - The total liabilities as of March 31, 2024, amount to ¥495,439,479,982.63, compared to ¥547,440,155,168.03 at the end of 2023, reflecting a decrease of approximately 9.5%[14]. - Total liabilities decreased to ¥610.70 billion from ¥663.74 billion year-over-year, a reduction of 8.0%[15]. - The company reported a short-term loan of ¥61,278,065,749.82, which increased from ¥44,920,602,982.12[14]. - The company’s long-term borrowings as of March 31, 2024, are ¥52,112,546,899.97, slightly up from ¥51,454,950,549.85[14]. Shareholder Information - Shareholders' equity attributable to the parent company increased by 1.05% to approximately ¥289.34 billion[5]. - The top ten shareholders collectively hold 78.67% of the company's shares, with Shanghai Automotive Industry Group Co., Ltd. being the largest shareholder at 63.27%[8]. - As of March 31, 2024, the company has repurchased a total of 25,821,600 shares, accounting for 0.2231% of the total share capital[10]. Expenses and Costs - Research and development expenses increased to ¥3.95 billion, up 3.6% from ¥3.81 billion in Q1 2023[16]. - The company reported a decrease in interest income to ¥3.92 billion from ¥4.70 billion, a decline of 16.4%[16]. - The company’s total costs for Q1 2024 were ¥143.32 billion, a decrease of 0.6% from ¥144.24 billion in Q1 2023[16]. - The cash paid for purchasing goods and services was CNY 154.35 billion, down from CNY 197.10 billion in Q1 2023[19]. Accounts Receivable and Inventory - Accounts receivable decreased to ¥62,555,769,765.37 from ¥68,019,556,853.36, indicating a reduction of approximately 8.5%[13]. - The company’s inventory decreased to ¥91,376,337,705.39 from ¥98,603,705,752.11, a decline of about 7.5%[13].