TQM(002510)2024-04-29 09:07Financial Performance - The company's revenue for Q1 2024 was ¥449,226,843.22, a decrease of 2.82% compared to ¥462,264,738.89 in the same period last year[5] - Net profit attributable to shareholders increased significantly to ¥24,196,596.33, representing a growth of 700.60% from ¥3,022,318.93 in the previous year[5] - Basic earnings per share rose to ¥0.0257, up 703.13% from ¥0.0032 in the previous year[5] - Total operating revenue for Q1 2024 was 483,917,000.00 CNY, compared to 480,072,000.00 CNY in Q1 2023, representing a growth of 0.6%[21] - Net profit for Q1 2024 reached 22,138,661.13 CNY, a significant increase from 1,823,796.12 CNY in Q1 2023, marking a growth of 1,115.5%[21] - Operating profit for Q1 2024 was 22,366,351.09 CNY, compared to a loss of 2,498,408.37 CNY in the same period last year[21] - The company reported a total comprehensive income of 21,908,816.96 CNY for Q1 2024, compared to 817,339.01 CNY in Q1 2023[22] Cash Flow and Assets - The net cash flow from operating activities was ¥61,832,337.88, an increase of 183.81% compared to a negative cash flow of -¥73,775,183.67 in the same period last year[5] - Cash flow from operating activities generated a net inflow of 61,832,337.88 CNY, a turnaround from a net outflow of 73,775,183.67 CNY in Q1 2023[23] - The company's cash and cash equivalents increased to RMB 938,376,282.93 from RMB 823,651,925.52, reflecting a growth of approximately 13.9%[17] - The company’s cash and cash equivalents at the end of Q1 2024 stood at 745,116,403.66 CNY, an increase from 714,500,018.70 CNY at the end of Q1 2023[25] - Total assets at the end of the reporting period were ¥6,070,758,229.93, a slight decrease of 0.77% from ¥6,117,957,907.53 at the end of the previous year[5] - Total assets at the end of Q1 2024 were 1,200,000,000.00 CNY, compared to 1,150,000,000.00 CNY at the end of Q1 2023, reflecting a growth of 4.35%[21] Liabilities and Equity - The company's equity attributable to shareholders increased by 1.12% to ¥2,136,371,309.39 from ¥2,112,626,128.45 at the end of the previous year[5] - Total liabilities decreased to RMB 3,930,143,980.30 from RMB 3,999,480,903.64, reflecting a reduction of approximately 1.73%[19] - The company's total equity increased to RMB 2,140,614,249.63 from RMB 2,118,477,003.89, marking an increase of about 1.5%[19] - The company reported a significant decrease in credit impairment losses by 101.94% to ¥13,806,193.16, attributed to improved customer payments and reduced accounts receivable[10] Research and Development - Research and development expenses increased by 43.95% to ¥26,803,956.35, reflecting a growth in R&D investment[9] - Research and development expenses increased to 26,803,956.35 CNY in Q1 2024, up from 18,620,148.68 CNY in Q1 2023, reflecting a growth of 44%[21] Investments and Other Income - Investment income surged by 274.40% to ¥24,977,516.48, driven by profit growth from the associated company Dongshi Automotive Technology Group[9] Operational Changes - Sales expenses rose by 64.35% to ¥13,299,229.74, primarily due to increased project commissions and quality assurance fees[9] - The company signed a share transfer intention agreement for 161,779,192 shares, representing 17.18% of the total share capital, which may lead to a change in control[15] - The company reported a decrease in short-term borrowings to RMB 660,360,784.61 from RMB 659,771,614.50, a slight increase of 0.09%[19] - The company’s long-term borrowings increased to RMB 405,799,549.19 from RMB 365,299,549.19, reflecting an increase of approximately 11.1%[19] Future Outlook - The company plans to continue investing in new technologies and market expansion to drive future growth[21]