中复神鹰(688295) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was CNY 401,816,630.89, a decrease of 10.40% compared to CNY 448,442,089.45 in the same period last year[4]. - The net profit attributable to shareholders was a loss of CNY 45,228,808.57, representing a decline of 208.24% from a profit of CNY 41,785,664.10 in the previous year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 58,117,314.13, a decrease of 479.32% compared to CNY 15,321,537.28 last year[4]. - Total operating revenue for Q1 2025 was CNY 401.82 million, a decrease of 10.4% compared to CNY 448.44 million in Q1 2024[18]. - Net profit for Q1 2025 was a loss of CNY 45.23 million, compared to a profit of CNY 41.79 million in Q1 2024, representing a significant decline[19]. - The company experienced a decline in gross profit margin, leading to an operating loss of CNY 51.36 million in Q1 2025, compared to an operating profit of CNY 50.83 million in Q1 2024[18]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 20,057,182.58, a significant improvement from a negative cash flow of CNY 34,242,045.87 in the same period last year[4]. - Operating cash flow for Q1 2025 was CNY 20.06 million, recovering from a negative cash flow of CNY -34.24 million in Q1 2024[22]. - Cash and cash equivalents at the end of Q1 2025 totaled CNY 1.14 billion, down from CNY 2.27 billion at the end of Q1 2024[23]. - The company's cash and cash equivalents increased to CNY 1,366,071,332.34 from CNY 963,944,685.91, representing a growth of approximately 42%[14]. - Investment activities generated a net cash inflow of CNY 301.72 million in Q1 2025, compared to CNY 152.92 million in Q1 2024[23]. Research and Development - Research and development expenses totaled CNY 38,176,157.59, an increase of 2.54% from CNY 37,228,852.05 in the previous year[4]. - The proportion of R&D expenses to operating revenue increased to 9.50%, up by 1.20 percentage points from 8.30% last year[5]. - Research and development expenses increased to CNY 38.18 million in Q1 2025, up from CNY 34.92 million in Q1 2024, indicating a focus on innovation[18]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 9,301,460,573.86, a slight decrease of 0.60% from CNY 9,357,372,085.28 at the end of the previous year[5]. - As of March 31, 2025, the company's total assets amounted to CNY 9,301,460,573.86, a slight decrease from CNY 9,357,372,085.28 as of December 31, 2024[14]. - Total current liabilities decreased to CNY 1,622,899,914.10 from CNY 1,727,737,000.21, indicating a reduction of about 6%[16]. - The company's fixed assets decreased to CNY 4,125,376,634.25 from CNY 4,521,333,824.46, reflecting a decline of approximately 8.8%[15]. - The total equity attributable to shareholders decreased to CNY 4,580,777,399.83 from CNY 4,625,279,704.26, a decrease of about 1%[16]. - The company's accounts receivable increased to CNY 226,233,795.91 from CNY 218,481,181.05, showing a growth of approximately 3.4%[14]. - The inventory level decreased slightly to CNY 554,304,265.43 from CNY 564,900,416.88, a reduction of about 1%[14]. - The company's long-term borrowings increased to CNY 2,041,421,766.75 from CNY 2,019,883,819.60, reflecting a growth of approximately 1.1%[16]. - The company's total liabilities remained relatively stable, decreasing slightly to CNY 4,720,683,174.03 from CNY 4,732,092,381.02[16]. - The company reported a significant increase in other non-current assets to CNY 668,859,885.73 from CNY 626,685,812.69, indicating a growth of about 6.8%[15]. Challenges and External Factors - The company faced challenges due to a supply-demand imbalance in the carbon fiber industry and increased production costs, impacting profitability[8]. - The company received government subsidies amounting to CNY 12,479,030.10, which were related to its normal business operations[6]. - Total operating costs increased to CNY 472.30 million in Q1 2025, up 10.3% from CNY 427.94 million in Q1 2024[18]. - Financial expenses rose to CNY 6.61 million in Q1 2025, compared to CNY 2.89 million in Q1 2024, reflecting higher interest costs[18]. - The weighted average return on net assets was -0.98%, a decrease of 1.84 percentage points from 0.86% in the previous year[4].