HQTC(SH:688151)2025-04-23 13:45Financial Performance - The company's operating revenue for Q1 2025 was ¥64,982,273.26, a decrease of 46.44% compared to ¥121,337,392.45 in the same period last year[4] - Net profit attributable to shareholders was ¥1,883,115.36, down 86.69% from ¥14,146,460.31 year-on-year[4] - The company experienced a 40.29% year-on-year decrease in net profit after deducting non-recurring gains and losses[7] - Total revenue for Q1 2025 was ¥64,982,273.26, a decrease of 46.3% compared to ¥121,337,392.45 in Q1 2024[16] - Net profit for Q1 2025 was ¥1,883,115.36, a significant decline of 86.7% from ¥14,146,460.31 in Q1 2024[18] - Basic and diluted earnings per share for Q1 2025 were both ¥0.005, compared to ¥0.04 in Q1 2024[18] - The weighted average return on equity was 0.04%, down from 0.34%, indicating a significant decline in profitability[4] Cash Flow and Assets - The net cash flow from operating activities increased by 136.29%, reaching ¥31,024,996.47, primarily due to a reduction in raw material procurement expenses[7] - Cash flow from operating activities for Q1 2025 was ¥31,024,996.47, a recovery from a negative cash flow of ¥85,487,838.04 in Q1 2024[20] - Cash and cash equivalents decreased significantly from CNY 1,851,695,136.12 to CNY 1,059,600,616.33, representing a decline of approximately 43%[12] - Cash and cash equivalents at the end of Q1 2025 were ¥1,057,185,152.93, compared to ¥258,634,672.00 at the end of Q1 2024[20] - The company's current assets totaled CNY 3,492,424,523.94, down from CNY 3,516,308,710.02 in the previous period[13] - The total assets at the end of the reporting period were ¥4,849,849,612.83, a slight decrease of 0.62% from ¥4,880,047,241.72 at the end of the previous year[5] - The total assets and equity of the company were ¥4,849,849,612.83 and ¥4,201,830,084.70 respectively as of the end of Q1 2025[15] Expenses and Liabilities - Total operating costs for Q1 2025 were ¥86,089,704.09, down 36.0% from ¥134,473,253.90 in Q1 2024[16] - Research and development expenses totaled ¥10,967,784.72, accounting for 16.88% of operating revenue, an increase of 5.04 percentage points compared to the previous year[5] - Research and development expenses for Q1 2025 were ¥10,967,784.72, down 23.5% from ¥14,368,760.86 in Q1 2024[16] - The company reported a significant decrease in sales expenses, which were ¥5,226,399.98 in Q1 2025, compared to ¥6,986,276.16 in Q1 2024[16] - Total liabilities decreased from CNY 680,270,484.09 to CNY 648,019,528.13, reflecting a decline of approximately 4.7%[14] - The total current liabilities decreased from CNY 351,397,921.80 to CNY 329,777,619.03, a decline of approximately 6.1%[14] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,799[8] - There were no significant changes in the shareholder structure, with the largest shareholder, China Weapon Equipment Group, holding 45.52% of the shares[10][11] Inventory and Receivables - The company's accounts receivable decreased from CNY 603,926,024.02 to CNY 528,652,061.56, a reduction of about 12.5%[12] - The company reported a decrease in inventory from CNY 216,378,590.48 to CNY 225,740,860.43, indicating a slight increase of about 4.5%[13] Future Outlook - The company will implement new accounting standards starting from 2025, which will affect the financial statements from the beginning of that year[21] - The company has not reported any new product developments or market expansions during this period[11] Revenue Decline Reasons - The decline in revenue was attributed to delayed orders for special protective equipment and a decrease in revenue from butyl rubber stopper products[7]