WBC(200706)2024-04-29 13:21Financial Performance - The company's operating revenue for Q1 2024 was ¥526,788,096.65, a decrease of 12.95% compared to ¥605,154,931.63 in the same period last year[5] - The net profit attributable to shareholders was a loss of ¥25,592,430.55, representing a decline of 12.56% from a loss of ¥22,736,404.65 in the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥36,610,233.58, which is a 35.23% increase in loss compared to ¥27,072,214.12 last year[5] - The net profit for the first quarter of 2024 was -25,592,430.55 CNY, compared to -22,736,404.65 CNY in the same period last year, representing a decline of approximately 12.4%[17] - Operating profit for the first quarter was -27,029,731.26 CNY, compared to -23,033,013.55 CNY in the previous year, indicating a worsening of about 17.3%[17] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, with a net outflow of ¥17,123,610.28, an 82.53% reduction from a net outflow of ¥97,995,389.08 in the previous year[5] - Cash flow from operating activities showed a net outflow of -17,123,610.28 CNY, an improvement from -97,995,389.08 CNY in the previous year[19] - The company reported a basic and diluted earnings per share of -0.0636, compared to -0.0565 in the same quarter last year[18] - The company raised 218,000,000.00 CNY through borrowings, compared to 288,000,000.00 CNY in the previous year, a decrease of about 24.3%[20] - The total cash outflow from financing activities was 322,197,801.42 CNY, compared to 387,444,286.12 CNY in the previous year, indicating a reduction of approximately 16.8%[20] - The company experienced a foreign exchange impact of 107,737.77 CNY on cash and cash equivalents during the quarter[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,175,598,548.90, a slight decrease of 0.15% from ¥3,180,391,222.98 at the end of the previous year[5] - Total assets as of the end of Q1 2024 were CNY 3,175,598,548.90, a slight decrease from CNY 3,180,391,222.98 at the beginning of the quarter[15] - Total liabilities increased to CNY 2,828,765,396.68 from CNY 2,809,085,154.83, marking an increase of 0.7%[15] - The total equity attributable to shareholders decreased to CNY 346,833,152.22 from CNY 371,306,068.15, a decline of 6.6%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 5,196[10] - The largest shareholder, Wafangdian Bearing Group Co., Ltd., holds 60.61% of the shares, while the second largest shareholder, Aktiebolaget SKF, holds 19.70%[10] Research and Development - Research and development expenses decreased by 32.6% to ¥18,534,661.99 from ¥27,498,431.76 in the same period last year[8] - Research and development expenses decreased to 18,534,661.99 CNY from 27,498,431.76 CNY, a reduction of about 32.4%[17] Revenue and Costs - Total operating costs for Q1 2024 were CNY 565,421,974.05, down 11% from CNY 635,097,646.10 year-over-year[16] - Total revenue from operating activities increased to 306,298,578.97 CNY, up from 257,735,893.33 CNY, reflecting a growth of approximately 18.8%[19] Non-Recurring Gains - The company reported non-recurring gains of ¥11,017,803.03, primarily from government subsidies and other income[6]