SFY(002572)2024-04-29 10:19Revenue and Profit Growth - Revenue for the first quarter of 2024 increased by 16.98% to 2,111,108,168.34 yuan compared to the same period last year[16] - Net profit attributable to shareholders of the listed company rose by 58.59% to 165,465,208.07 yuan[16] - Net profit increased to 173,975,526.47, up 67.17% compared to the previous period's 104,066,721.59[24] - Net profit from continuing operations increased to RMB 173,975,526.47, up from RMB 104,066,721.59 in the previous period[25] - Net profit attributable to owners of the parent company rose to RMB 165,465,208.07, compared to RMB 104,335,111.17 in the prior period[25] - The company's total operating revenue for the current period is RMB 2,111,108,168.34, compared to RMB 1,804,730,367.76 in the previous period, representing a significant increase[51] Cash Flow Changes - Net cash flow from operating activities decreased by 629.15% to -1,018,881,928.64 yuan due to changes in dealer assessment criteria and increased material procurement[21] - Net cash flow from investing activities increased by 202.81% to 522,790,578.64 yuan, mainly due to reduced purchases of structured deposits[21] - Net cash flow from financing activities decreased by 124.27% to -148,026,957.53 yuan, primarily due to increased repayment of borrowings[21] - Cash and cash equivalents at the end of the period decreased to RMB 2,702,885,389.15 from RMB 3,347,044,401.23 at the beginning of the period[26] - Cash flow from financing activities showed a net outflow of RMB 148,026,957.53, compared to a net inflow of RMB 609,821,535.76 in the previous period[26] - Operating cash inflow decreased to 1.98 billion from 2.51 billion, a decline of 21.03%[53] - Operating cash outflow increased to 2.99 billion from 2.31 billion, a rise of 29.56%[53] - Net cash flow from operating activities turned negative at -1.02 billion compared to a positive 192.55 million in the previous period[53] - Cash received from tax refunds decreased to 519,729.15 from 919,764.96, a drop of 43.49%[53] - Cash received from other operating activities decreased to 53.10 million from 74.77 million, a decline of 28.99%[53] - Cash paid for goods and services increased to 1.99 billion from 1.48 billion, a rise of 34.34%[53] - Cash paid to employees increased to 506.57 million from 479.79 million, a rise of 5.58%[53] - Cash paid for taxes increased to 242.22 million from 155.50 million, a rise of 55.77%[53] - Net cash flow from investing activities improved to 522.79 million from -508.49 million[53] - Cash received from financing activities decreased to 779.45 million from 890.81 million, a decline of 12.50%[53] Expenses and Costs - Financial expenses decreased by 99.20% to 164,369.31 yuan due to optimized borrowing structure and reduced interest expenses[14] - Income tax expenses rose by 70.72% to 46,209,834.19 yuan, driven by an increase in total profit[14] - Operating costs rose to 1,916,191,944.98, a 13.63% increase from 1,686,341,608.75[24] - R&D expenses increased to 87,474,797.24, up 10.58% from 79,105,718.19[24] - Sales expenses grew to 214,161,499.35, a 5.24% increase from 203,505,463.53[24] Assets and Liabilities - Total assets decreased by 8.43% to 13,327,868,315.43 yuan compared to the end of the previous year[16] - Equity attributable to shareholders of the listed company increased by 0.95% to 7,081,802,996.93 yuan[16] - Total liabilities decreased from 7,276,391,937.31 to 5,983,895,775.72, a reduction of 17.76%[23] - Total equity increased slightly to 7,343,972,539.71 from 7,278,499,734.25, a 0.90% rise[23] - Long-term borrowings increased to 916,794,554.39, up 5.64% from 867,813,392.40[23] - Total assets at the end of the quarter are RMB 13,327,868,315.43, a decrease from RMB 14,554,891,671.56 at the beginning of the quarter[42] - Total current assets at the end of the quarter are RMB 5,104,499,634.36, a decrease from RMB 6,384,173,698.51 at the beginning of the quarter[42] - Total non-current assets at the end of the quarter are RMB 8,223,368,681.07, an increase from RMB 8,170,717,973.05 at the beginning of the quarter[42] - Short-term borrowings at the end of the quarter are RMB 1,930,498,569.34, a decrease from RMB 2,021,869,687.16 at the beginning of the quarter[42] - Accounts receivable at the end of the quarter are RMB 963,901,821.30, a decrease from RMB 994,887,578.23 at the beginning of the quarter[42] - Inventory at the end of the quarter is RMB 564,971,103.01, a slight increase from RMB 563,836,903.28 at the beginning of the quarter[42] - The company's monetary funds at the end of the period are RMB 2,895,447,634.49, a decrease from RMB 3,494,534,434.90 at the beginning of the period[50] - The company's trading financial assets at the end of the period are RMB 98,439,513.18, a significant decrease from RMB 782,439,513.18 at the beginning of the period[50] Shareholder and Ownership Information - The company repurchased 6,451,071 shares, accounting for 0.67% of the total shares, with a total amount of RMB 99,984,617.09[31] - The 2024 employee stock ownership plan will grant shares to no more than 200 employees, with a total of no more than 11,344,458 shares, accounting for 1.18% of the total shares[32] - Total number of ordinary shareholders at the end of the reporting period is 41,974[34] - Jiang Ganjun and Ke Jiansheng each hold 21.54% of the shares, with 207,422,363 shares[34] - Hong Kong Securities Clearing Company Limited holds 10.34% of the shares, with 99,622,867 shares[34] - National Social Security Fund 413 Portfolio holds 1.76% of the shares, with 16,976,868 shares[34] Corporate Events and Announcements - The company announced the completion of its share repurchase plan on March 1, 2024[49] - The company released its 2023 annual performance report on March 22, 2024[49] - The company held its second interim shareholders' meeting of 2024 on March 19, 2024[49] - The company announced its 2024 employee stock ownership plan (draft) on March 2, 2024[49] - The company completed industrial and commercial registration changes and reissued its business license on March 2, 2024[49] - The company held its fifth board of directors' 23rd meeting on March 2, 2024[49] - The company held its fifth board of supervisors' 20th meeting on March 2, 2024[49] Other Income and Expenses - Other income increased by 101.82% to 25,602,045.39 yuan, mainly due to increased tax credit subsidies[14] - Other income rose to 25,602,045.39, a 101.82% increase from 12,685,823.84[24] - Interest income decreased to 12,447,120.23, down 9.10% from 13,692,805.84[24]