创新新材(600361) - 2025 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2025 was CNY 19,163,990,142.59, representing a 7.79% increase compared to CNY 17,778,801,588.65 in the same period last year[5] - Net profit attributable to shareholders decreased by 26.55% to CNY 206,955,778.80 from CNY 281,776,869.78 year-on-year[5] - The net profit after deducting non-recurring gains and losses fell by 28.91% to CNY 194,393,319.83 compared to CNY 273,465,838.25 in the previous year[5] - Basic and diluted earnings per share decreased by 22.46% to CNY 0.050 from CNY 0.065 year-on-year[5] - Net profit for Q1 2025 was CNY 204.65 million, a decrease of 27.6% from CNY 282.56 million in Q1 2024[20] - The company reported a total comprehensive income of CNY 214.05 million for Q1 2025, compared to CNY 273.87 million in Q1 2024, a decline of 21.8%[21] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -2,828,326,940.46, a decline of 43.93% from CNY -1,965,065,771.65 in the same period last year[5] - The company experienced a significant cash outflow due to increased inventory purchases during the Spring Festival period[8] - In Q1 2025, the cash inflow from operating activities was approximately ¥19.98 billion, an increase from ¥19.17 billion in Q1 2024, representing a growth of about 4.24%[23] - The net cash outflow from operating activities was ¥2.83 billion in Q1 2025, compared to a net outflow of ¥1.97 billion in Q1 2024, indicating a worsening cash flow situation[23] - The total cash outflow for operating activities was approximately ¥22.81 billion in Q1 2025, compared to ¥21.13 billion in Q1 2024, reflecting an increase of about 7.94%[23] Assets and Liabilities - Total assets increased by 3.038% to CNY 26,909,780,357.12 from CNY 26,116,320,001.70 at the end of the previous year[6] - The company's total liabilities increased to CNY 15.77 billion in Q1 2025 from CNY 15.19 billion in Q1 2024, reflecting a growth of 3.8%[18] - Non-current liabilities rose to CNY 2.89 billion in Q1 2025, compared to CNY 2.33 billion in Q1 2024, marking a 24% increase[18] - The total current liabilities increased, with accounts payable rising to RMB 1,278,508,787.52 from RMB 1,158,149,906.18, an increase of approximately 10.4%[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 65,653[10] - The company has not reported any significant changes in the shareholder structure or any new strategic initiatives during the reporting period[12][13] Operational Costs and Expenses - Total operating costs for Q1 2025 were CNY 18.91 billion, up 8.6% from CNY 17.41 billion in Q1 2024[20] - The company's net profit decline was primarily due to decreased gross margins on products and increased financial expenses[8] - Research and development expenses for Q1 2025 were CNY 82.30 million, a decrease of 6.3% from CNY 88.34 million in Q1 2024[20] - The company’s financial expenses increased to CNY 118.97 million in Q1 2025, up 49.4% from CNY 79.62 million in Q1 2024[20] Inventory and Receivables - Accounts receivable increased significantly to RMB 4,537,310,367.60 from RMB 3,196,317,707.18, marking an increase of approximately 42%[16] - Inventory levels rose to RMB 4,076,340,178.69 from RMB 3,593,038,193.64, indicating an increase of around 13.5%[16] - The company reported a significant increase in prepayments, which rose to RMB 1,611,753,508.79 from RMB 97,007,805.90, a substantial increase of around 1,558%[16] Cash and Equivalents - The company's cash and cash equivalents decreased to RMB 4,923,120,942.92 from RMB 7,882,388,214.40, representing a decline of about 37.4%[16] - The total cash and cash equivalents at the end of Q1 2025 stood at approximately ¥3.12 billion, compared to ¥1.48 billion at the end of Q1 2024, representing a year-over-year increase of about 110.4%[24]