Juewei Food (SH:603517)2024-04-29 09:05Financial Performance - The net profit attributable to the parent company for Q1 2024 was CNY 2,671,642.04, reflecting a change of CNY 1,156,101.01 compared to the previous year[5]. - Total operating revenue for Q1 2024 was RMB 1,695,359,649.90, a decrease of 7.03% from RMB 1,823,777,231.00 in Q1 2023[15]. - Net profit for Q1 2024 increased to RMB 159,421,676.16, up 20.11% from RMB 131,675,074.43 in Q1 2023[15]. - Total profit for Q1 2024 was RMB 234,648,512.69, an increase of 29.83% from RMB 180,753,316.09 in Q1 2023[15]. - Net profit attributable to shareholders of the listed company was CNY 165,014,634.16, an increase of 20.02% year-on-year[42]. - Basic and diluted earnings per share for Q1 2024 were both RMB 0.26, compared to RMB 0.23 in Q1 2023[16]. - The company reported a basic earnings per share of CNY 0.26, which is a 13.04% increase compared to the same period last year[42]. Assets and Liabilities - The total assets as of March 31, 2024, amounted to CNY 5,440,000,000, with current assets totaling CNY 2,947,154,314.64, an increase from CNY 2,850,535,902.82 at the end of 2023[11]. - The company's trading financial assets increased by 152.57% due to new structured deposits not yet redeemed[6]. - The investment property increased by 163.17%, attributed to the addition of properties for external leasing[6]. - The lease liabilities increased by 34.45% due to new leasing contracts[6]. - The company's inventory decreased from CNY 1,137,103,258.34 to CNY 916,651,163.44, indicating a reduction in stock levels[11]. - Cash and cash equivalents at the end of the period were CNY 927,304,697.61, down from CNY 1,107,806,292.29 at the end of the previous year[34]. - Short-term borrowings increased to CNY 863,489,958.33 from CNY 783,489,958.33 in the previous quarter[30]. Cash Flow - The net cash flow generated from operating activities was CNY 388,069,195.50, reflecting a significant increase of 58.07% compared to the previous year[42]. - The company experienced a net cash outflow from investing activities of CNY 500,507,501.86, an improvement from the previous year's outflow of CNY 995,361,751.78[34]. - Net cash flow from operating activities increased by 58.07% mainly due to a decrease in cash paid for purchasing goods and receiving services[43]. - Net cash flow from investing activities increased by 49.72% primarily due to cash received from redeeming part of the structured deposits and a decrease in cash paid for investments[43]. - Net cash flow from financing activities decreased by 3,507.25% mainly due to an increase in cash paid for stock repurchases[43]. Expenses and Income - Total operating costs for Q1 2024 were RMB 1,456,558,722.97, down 11.19% from RMB 1,640,867,387.98 in Q1 2023[15]. - Research and development expenses for Q1 2024 were RMB 10,176,404.37, up 21.56% from RMB 8,369,577.94 in Q1 2023[15]. - The company reported an investment loss of RMB 14,288,344.37 in Q1 2024, compared to a loss of RMB 3,834,528.90 in Q1 2023[15]. - Other comprehensive income after tax for Q1 2024 was RMB -11,301,414.00, compared to RMB 18,294,299.93 in Q1 2023[15]. - The total comprehensive income for Q1 2024 was RMB 148,120,262.16, slightly down from RMB 149,969,374.36 in Q1 2023[16]. - The company experienced a significant increase in financial expenses, with interest expenses rising to RMB 6,367,531.99 in Q1 2024 from RMB 2,007,395.48 in Q1 2023[15]. - Income tax expenses increased by 53.28% as a result of higher operating profits[43]. Other Income and Changes - The company recorded a government subsidy of CNY 5,171,854.96, which is closely related to its normal business operations[5]. - Other income rose by 42.94% mainly due to an increase in government subsidies related to daily activities[43]. - Investment income decreased by 272.62% due to fluctuations in the profits of invested enterprises[43]. - Non-operating expenses decreased by 91.59% primarily due to reduced non-operating items and asset write-off expenses[43]. - Treasury stock decreased by 90.29% due to the completion of stock repurchases and cancellations[43]. - Financial expenses increased by 2,155.46% primarily due to increased interest income from funds received in 2022 compared to the same period last year[43].