Financial Performance - Net profit attributable to shareholders decreased by 20.81% to ¥16,766,047.65 for the first quarter of 2024 [12]. - Operating revenue for the first quarter of 2024 was ¥41,910,557.19, a decrease of 27.50% year-on-year [12]. - Total operating revenue for Q1 2024 was CNY 41,910,557.19, a decrease from CNY 57,808,751.06 in Q1 2023, representing a decline of approximately 27.5% [30]. - Net profit for Q1 2024 was CNY 16,766,047.65, compared to CNY 21,172,619.70 in Q1 2023, reflecting a decrease of approximately 20.9% [31]. - Basic and diluted earnings per share for Q1 2024 were both CNY 0.21, down from CNY 0.35 in Q1 2023 [32]. - Total operating costs for Q1 2024 were CNY 22,625,437.43, down from CNY 32,709,750.84 in Q1 2023, indicating a reduction of about 30.8% [30]. - Research and development expenses for Q1 2024 were CNY 1,954,621.71, down from CNY 2,443,522.94 in Q1 2023, indicating a decrease of about 20% [30]. Assets and Liabilities - Total assets increased by 120.20% to ¥676,846,394.12 compared to the end of last year [12]. - The company reported a total of 529,409,707.17 CNY in current assets as of March 31, 2024, compared to 178,234,543.26 CNY at the end of 2023, indicating a significant increase [28]. - Total liabilities decreased to CNY 19,038,102.45 in 2024 from CNY 22,982,422.60 in 2023, a reduction of about 17.5% [30]. - The company's total liabilities to assets ratio remained low at 2.81% [12]. - Shareholders' equity rose significantly to CNY 657,808,291.67 in 2024 from CNY 284,392,844.63 in 2023, an increase of approximately 131.5% [30]. Cash Flow - Cash flow from operating activities decreased by 67.06% to ¥4,427,962.93 compared to the same period last year [12]. - Operating cash flow for Q1 2024 was ¥4,427,962.93, a decrease of 67.9% compared to ¥13,442,875.98 in Q1 2023 [33]. - Total cash inflow from operating activities was ¥32,511,620.00, down 27.8% from ¥44,962,256.35 in the same period last year [33]. - Cash inflow from other operating activities increased to ¥2,150,574.17, up 194.3% from ¥732,813.37 in Q1 2023 [33]. - Cash and cash equivalents increased by 348.50% to ¥454,706,743.51 due to fundraising [13]. - The cash and cash equivalents at the end of Q1 2024 totaled ¥454,706,743.51, significantly up from ¥140,091,972.99 at the end of Q1 2023 [34]. - Cash outflow from operating activities decreased to ¥28,083,657.07, a reduction of 10.3% compared to ¥31,519,380.37 in Q1 2023 [33]. - Investment activities resulted in a net cash outflow of ¥10,322,508.33, compared to a net outflow of ¥2,531,664.83 in Q1 2023 [34]. - Cash inflow from financing activities was ¥367,150,000.00, with a net cash flow of ¥358,978,400.00 after outflows [34]. - The company experienced a positive impact of ¥240,089.75 from exchange rate fluctuations on cash and cash equivalents [34]. Shareholder Information - The number of shares increased by 33.33% to 80,000,000 due to a public offering [13]. - The top five shareholders collectively hold 80.0739% of the company's shares, with the largest shareholder owning 24.75% [21]. - The company has no shareholders with pledged or judicially frozen shares, indicating a stable ownership structure [22]. - The company has not issued any preferred shares, simplifying its capital structure [22]. Compliance and Governance - The company has not engaged in any litigation or arbitration matters during the reporting period, ensuring compliance and stability [24]. - There were no significant related party transactions or external guarantees reported, maintaining financial integrity [24]. - Non-recurring gains and losses totaled ¥146,346.95, with a net amount after tax of ¥124,394.91 [16]. - The company reported a credit impairment loss of CNY -164,580.54 in Q1 2024, compared to CNY -586,378.93 in Q1 2023, showing an improvement in credit quality [31]. Market Position - The company is actively expanding its market presence, as indicated by the increase in cash reserves and accounts receivable, positioning itself for future growth [28]. - Cash and cash equivalents increased to 454,706,743.51 CNY from 101,382,799.16 CNY, reflecting a growth of approximately 347% [28]. - Accounts receivable rose to 35,652,371.95 CNY from 31,942,433.19 CNY, representing an increase of about 59% [28]. - Sales expenses increased by 43.78% to ¥241,774.57 due to the addition of new sales personnel [14]. - Other income increased by 269.60% to ¥275,554.32, attributed to increased VAT deductions [14].
海昇药业(870656) - 2024 Q1 - 季度财报