First(603806)2024-04-29 09:24Financial Performance - The company's revenue for Q1 2024 reached ¥5,321,491,035.96, representing an increase of 8.32% compared to the same period last year[4] - Net profit attributable to shareholders was ¥521,500,737.00, reflecting a significant growth of 43.13% year-on-year[4] - The net profit excluding non-recurring gains and losses was ¥516,313,101.64, which is a 49.42% increase compared to the previous year[4] - Basic earnings per share (EPS) was ¥0.28, marking a 40.00% increase year-on-year[4] - Operating profit for Q1 2024 was ¥622,792,348.74, up 56.4% from ¥398,078,723.96 in Q1 2023[18] - The company reported a total comprehensive income of ¥468,521,338.61 for Q1 2024, compared to ¥364,936,172.62 in Q1 2023, indicating a growth of 28.4%[18] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥22,631,619,550.73, a 3.64% increase from the end of the previous year[5] - Total liabilities as of Q1 2024 amounted to ¥6,350,292,168.54, up from ¥6,038,644,037.03 in Q1 2023, reflecting a growth of 5.2%[15] - Shareholders' equity attributable to the parent company was ¥16,056,687,729.91, up by 2.99% from the previous year[5] - Total equity attributable to shareholders reached ¥16,056,687,729.91 in Q1 2024, an increase of 3.0% from ¥15,590,109,604.98 in Q1 2023[15] Cash Flow - The company reported a net cash flow from operating activities of -¥33,529,867.60, indicating a negative cash flow situation[4] - In Q1 2024, the cash inflow from operating activities was approximately ¥4.52 billion, up from ¥3.13 billion in Q1 2023, representing a year-over-year increase of about 44%[19] - The net cash outflow from operating activities was reduced to approximately -¥33.53 million in Q1 2024, compared to -¥984.34 million in Q1 2023, indicating significant improvement[19] - Cash inflow from investment activities totaled approximately ¥286.83 million in Q1 2024, slightly up from ¥279.53 million in Q1 2023[20] - The net cash outflow from investment activities increased to approximately -¥546.01 million in Q1 2024, compared to -¥157.36 million in Q1 2023, reflecting higher investment expenditures[20] - Cash inflow from financing activities was approximately ¥665.30 million in Q1 2024, down from ¥832.85 million in Q1 2023[20] - The net cash inflow from financing activities improved to approximately ¥650.73 million in Q1 2024, compared to ¥328.81 million in Q1 2023[20] Operational Metrics - The increase in net profit was primarily driven by a rise in sales volume of photovoltaic film, along with a decrease in product prices and raw material costs, leading to an increase in gross profit margin[7] - Research and development expenses in Q1 2024 totaled ¥179,270,334.81, an increase of 7.6% from ¥166,733,185.44 in Q1 2023[17] - The total operating costs for Q1 2024 were ¥4,762,777,873.36, an increase of 4.9% from ¥4,540,514,143.44 in Q1 2023[17] - The company experienced a foreign exchange loss of approximately -¥38.30 million in Q1 2024, compared to -¥5.85 million in Q1 2023, impacting overall cash flow[20] Shareholder Activities - The company repurchased a total of 2,502,500 shares, accounting for 0.13% of the total share capital, with a total expenditure of RMB 73,977,544.44[11] - The fourth phase of the employee stock ownership plan holds 3,649,548 shares, which are still under lock-up[12] - The company is in the process of completing the liquidation of its third employee stock ownership plan, which has been fully executed[12]