LMGF(002734)2024-04-29 12:18Financial Performance - The company's revenue for Q1 2024 was ¥990,165,904.71, a decrease of 16.21% compared to ¥1,181,752,510.83 in the same period last year[5] - The net profit attributable to shareholders was a loss of ¥8,491,731.94, representing a decline of 114.26% from a profit of ¥59,546,946.00 in the previous year[5] - The basic earnings per share were -¥0.02, down 112.50% from ¥0.16 in the same period last year[5] - Net profit for Q1 2024 was a loss of ¥6,078,360.23, compared to a profit of ¥59,604,784.94 in Q1 2023, representing a significant decline[19] - Total operating revenue for Q1 2024 was ¥990,165,904.71, a decrease of 16.2% compared to ¥1,181,752,510.83 in the same period last year[18] - Total operating costs decreased to ¥950,221,756.27, down 13.6% from ¥1,100,180,240.43 year-over-year[18] Cash Flow - The net cash flow from operating activities was negative at ¥203,775,619.00, a decrease of 15.12% compared to the previous year's negative cash flow of ¥177,009,775.90[5] - Cash inflow from operating activities was ¥595,097,043.16, a decrease of 27.0% from ¥814,977,784.09 in the same quarter last year[22] - The net cash flow from operating activities for Q1 2024 was -203,775,619.00, compared to -177,009,775.90 in Q1 2023, indicating a decline in operational cash flow[23] - The total cash outflow from operating activities was 798,872,662.16 in Q1 2024, compared to 991,987,559.99 in Q1 2023, indicating improved cash management[23] - The ending balance of cash and cash equivalents as of Q1 2024 was 300,301,357.98, down from 333,677,605.38 in Q1 2023, reflecting a decrease in liquidity[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,791,477,141.40, a slight decrease of 0.35% from ¥6,815,334,746.25 at the end of the previous year[5] - Total current assets amount to 2,350,991,282.18 RMB, slightly increased from 2,344,011,030.16 RMB at the beginning of the period[15] - Total non-current assets are reported at 4,440,485,859.22 RMB, a decrease from 4,471,323,716.09 RMB[16] - Total liabilities amount to 2,486,065,439.70 RMB, down from 2,658,427,970.91 RMB, indicating a reduction of approximately 6.5%[16] - The company’s total liabilities amounted to ¥3,979,789,761.17, slightly down from ¥4,000,181,895.62 year-over-year[19] Shareholder Information - Total number of common shareholders at the end of the reporting period is 19,608[12] - The largest shareholder, Li Ming, holds 20.10% of shares, totaling 73,734,050 shares[12] Operational Changes - The company reported a significant increase in asset impairment losses of 1220.70%, primarily due to provisions for inventory depreciation[10] - Accounts receivable increased by 71.18%, attributed to an increase in unsettled receivables[10] - The company adopted flexible sales credit policies to adapt to market conditions and support customers[9] - The company experienced a 40.18% increase in interest expenses due to bank loan costs[10] - The company plans to continue its market expansion and product development efforts despite current challenges[9] Investment Activities - Total cash outflow from investing activities was 39,369,671.39 in Q1 2024, down from 97,435,646.49 in Q1 2023, reflecting a significant reduction in investment expenditures[23] - Cash received from investment activities totaled 2,254,304.20 in Q1 2024, an increase from 1,647,349.65 in Q1 2023, suggesting better investment recovery[23] - The company’s cash flow from investment activities showed a net outflow of -37,115,367.19 in Q1 2024, compared to -95,788,296.84 in Q1 2023, indicating a strategic shift in investment focus[23] Research and Development - Research and development expenses for Q1 2024 were ¥29,407,900.00, down from ¥31,039,303.68 in Q1 2023, indicating a reduction in R&D investment[18]