TRT(SH:600085)2024-04-29 08:14Financial Performance - The company's operating revenue for Q1 2024 was RMB 5,267,289,154.73, representing a year-on-year increase of 2.42%[5] - The net profit attributable to shareholders for the same period was RMB 575,877,577.58, reflecting a growth of 10.04% compared to the previous year[5] - The basic earnings per share for Q1 2024 was RMB 0.420, which is a 9.95% increase year-on-year[5] - Operating profit for Q1 2024 was RMB 1,029,180,110.63, up from RMB 995,843,502.23 in Q1 2023, reflecting a growth of 3.5%[18] - Net profit for Q1 2024 amounted to RMB 862,533,674.69, compared to RMB 829,317,918.63 in Q1 2023, indicating an increase of 4.0%[18] - The total comprehensive income for Q1 2024 was approximately ¥857.77 million, compared to ¥772.11 million in Q1 2023, indicating an increase of 11%[19] - The net profit attributable to shareholders of the parent company for Q1 2024 was approximately ¥575.88 million, an increase from ¥523.36 million in Q1 2023, representing a growth of 10%[19] Cash Flow and Liquidity - The net cash flow from operating activities decreased significantly by 121.98%, amounting to -RMB 251,766,221.42, primarily due to increased procurement costs[8] - Cash flow from operating activities for Q1 2024 showed a net outflow of approximately ¥251.77 million, a significant decrease from a net inflow of ¥1.15 billion in Q1 2023[20] - Cash received from sales of goods and services in Q1 2024 was approximately ¥5.15 billion, down from ¥5.69 billion in Q1 2023, representing a decline of 9%[20] - The net cash flow from investing activities for Q1 2024 was approximately -¥97.52 million, compared to -¥6.79 million in Q1 2023, indicating a worsening of investment cash flow[20] - The net cash flow from financing activities for Q1 2024 was approximately ¥641.73 million, a turnaround from a net outflow of -¥153.12 million in Q1 2023[21] - The ending balance of cash and cash equivalents as of the end of Q1 2024 was approximately ¥12.30 billion, a decrease from ¥12.57 billion at the end of Q1 2023[21] Assets and Liabilities - Total assets at the end of the reporting period reached RMB 31,253,026,762.50, up 3.87% from the end of the previous year[5] - The total liabilities for Q1 2024 were RMB 9,991,221,785.16, slightly up from RMB 9,832,343,990.70 in Q1 2023, showing an increase of 1.6%[17] - Long-term borrowings increased significantly to RMB 2,229,750,876.39 in Q1 2024, compared to RMB 1,429,750,809.82 in Q1 2023, marking a rise of 56%[17] - The total equity attributable to shareholders increased to RMB 13,580,704,826.05 in Q1 2024 from RMB 13,058,012,147.00 in Q1 2023, reflecting a growth of 4.0%[17] Shareholder Information - The company reported a total of 105,098 common shareholders at the end of the reporting period[9] - The largest shareholder, China Beijing Tongrentang (Group) Co., Ltd., holds 52.45% of the shares[9] - The total number of shares held by the top 10 shareholders did not show any significant changes in the context of margin trading and securities lending[12] Operational Insights - Accounts receivable increased by 60.64% compared to the beginning of the period, attributed to the rolling use of customer credit limits[8] - Inventory levels rose to RMB 9,599,688,227.42, compared to RMB 9,340,164,542.46, marking an increase of around 2.77%[15] - The company reported a decrease in sales expenses to RMB 840,167,231.58 in Q1 2024 from RMB 934,153,949.48 in Q1 2023, indicating a reduction of 10.1%[18] - Research and development expenses for Q1 2024 were RMB 41,579,952.41, a decrease from RMB 45,194,023.47 in Q1 2023, reflecting a reduction of 8.5%[18] Market Outlook - The overall market outlook remains cautiously optimistic, with no specific guidance provided for future performance[14] - The company’s financial health appears stable with no audit opinion issues reported for the quarter[15] - The company has no significant new strategies or product developments mentioned in the report[14] - The report indicates that there are no significant related party transactions among the top shareholders[10]