NCFC(SH:600889)2025-04-24 12:40Financial Performance - The company's operating revenue for Q1 2025 was ¥73,131,619.01, a decrease of 31.24% compared to ¥106,362,030.49 in the same period last year[5] - The net loss attributable to shareholders was ¥53,236,828.33, compared to a net loss of ¥32,608,317.12 in the previous year, indicating a worsening financial performance[5] - The net cash flow from operating activities was -¥110,708,599.69, significantly lower than -¥46,127,355.37 in the same period last year[5] - The company's net profit for Q1 2025 was -56,022,913.13 RMB, compared to -35,618,772.23 RMB in Q1 2024, representing a decline of approximately 57.5% year-over-year[21] - Operating profit for Q1 2025 was -56,387,745.41 RMB, worsening from -35,533,925.41 RMB in the same period last year[21] - Total revenue from operating activities decreased to 70,008,865.02 RMB in Q1 2025, down from 89,308,097.69 RMB in Q1 2024, a decline of about 21.6%[25] - Total comprehensive income for Q1 2025 was -56,449,900.65 RMB, compared to -35,832,265.99 RMB in Q1 2024, reflecting a decline of approximately 57.5%[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,542,116,733.62, an increase of 3.89% from ¥1,484,439,601.39 at the end of the previous year[6] - The total liabilities increased to RMB 1,180,782,946.50 as of March 31, 2025, compared to RMB 1,067,334,791.95 at the end of 2024, marking a rise of 10.6%[16] - The company's equity attributable to shareholders decreased to RMB 370,686,532.63 as of March 31, 2025, down from RMB 423,749,790.32 at the end of 2024, a decline of 12.5%[17] Cash Flow and Financing - Cash flow from operating activities showed a net outflow of -110,708,599.69 RMB in Q1 2025, compared to -46,127,355.37 RMB in Q1 2024, indicating a significant increase in cash burn[25] - Cash flow from financing activities generated a net inflow of 165,107,074.30 RMB in Q1 2025, compared to 60,927,134.44 RMB in Q1 2024, an increase of about 171.5%[27] - The company reported a 125.63% increase in cash and cash equivalents due to increased borrowings[9] - The company’s cash and cash equivalents at the end of Q1 2025 amounted to 65,406,344.63 RMB, up from 19,893,493.86 RMB at the end of Q1 2024[27] Inventory and Receivables - Inventory increased by 42.97% due to the arrival of imported raw materials[9] - Accounts receivable rose to RMB 40,706,372.83 as of March 31, 2025, up from RMB 31,564,663.01 at the end of 2024, indicating a growth of 29.0%[15] - Inventory increased significantly to RMB 155,521,002.62 as of March 31, 2025, compared to RMB 108,775,639.97 on December 31, 2024, representing a growth of 43.0%[15] Operating Costs and Expenses - The total operating costs for Q1 2025 were RMB 130,000,006.95, down from RMB 142,567,790.02 in Q1 2024, reflecting a reduction of 8.8%[20] - The operating cost for Q1 2025 was RMB 98,737,855.67, which is a decrease of 9.7% from RMB 109,399,494.14 in Q1 2024[20] - The company incurred research and development expenses of 2,724,252.59 RMB in Q1 2025, down from 3,733,714.47 RMB in Q1 2024, a decrease of approximately 27.1%[21] - The company’s total expenses for sales, management, and R&D in Q1 2025 were 24,439,334.40 RMB, compared to 28,294,505.38 RMB in Q1 2024, a decrease of about 13.5%[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 45,149[10] - The company reported a basic and diluted earnings per share of -0.15 RMB for Q1 2025, compared to -0.09 RMB in Q1 2024[22] - The weighted average return on net assets was -13.40%, down from -3.81% in the previous year, reflecting a significant decline in profitability[6]