Huati Tech(SH:603679)2025-04-25 10:45Financial Performance - The company's operating revenue for Q1 2025 was ¥87,298,571.99, a decrease of 25.79% compared to ¥117,640,693.20 in the same period last year[4] - The net profit attributable to shareholders was -¥2,271,248.65, down from ¥3,266,102.06 in the previous year, indicating a significant decline[4] - The basic earnings per share for the current period was -¥0.0138, compared to ¥0.0200 in the same period last year[4] - The net profit for Q1 2025 was -¥1,263,993.17, compared to a net profit of ¥2,935,946.11 in Q1 2024, indicating a significant decline[19] - The company's net profit for Q1 2025 was a loss of CNY 6,499,523.59, compared to a loss of CNY 603,927.74 in Q1 2024, indicating a significant decline in profitability[30] Cash Flow - The net cash flow from operating activities was -¥25,333,186.40, compared to -¥6,509,907.13 in the same period last year, indicating worsening cash flow[4] - The company reported a net cash outflow from operating activities of -¥25,333,186.40 in Q1 2025, compared to -¥6,509,907.13 in Q1 2024[23] - The cash inflow from operating activities was CNY 81,394,264.19, an increase of 7.4% compared to CNY 75,632,526.99 in Q1 2024[31] - The net cash flow from operating activities was -CNY 29,955,814.84, worsening from -CNY 12,043,619.49 in the same period last year[31] - The total cash outflow for operating activities was CNY 111,350,079.03, which is higher than CNY 87,676,146.48 in Q1 2024[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,467,875,389.60, a decrease of 2.45% from ¥1,504,806,651.13 at the end of the previous year[5] - Current assets totaled CNY 966,409,810.87, down from CNY 1,005,012,505.71, indicating a decrease of about 3.83%[14] - Total liabilities decreased to CNY 637,745,871.87 from CNY 673,720,760.77, reflecting a reduction of about 5.34%[15] - The company's total liabilities decreased to CNY 494,264,415.92 as of March 31, 2025, down from CNY 515,024,461.83 at the end of 2024[27] Equity - Shareholders' equity attributable to shareholders was ¥826,214,173.55, down 0.23% from ¥828,172,035.80 at the end of the previous year[5] - The total equity as of March 31, 2025, was CNY 907,645,867.49, a slight decrease from CNY 913,756,286.54 at the end of 2024[27] Market Conditions - The decline in revenue and profit was attributed to intensified market competition and project delays[8] - The company is currently focusing on improving operational efficiency and exploring new market opportunities to recover from the downturn[8] Research and Development - The company incurred research and development expenses of ¥5,343,256.06 in Q1 2025, down from ¥6,570,218.41 in Q1 2024[19] - Research and development expenses for Q1 2025 were CNY 4,133,087.32, down from CNY 5,687,170.76 in Q1 2024, indicating a reduction in investment in innovation[29] Inventory and Receivables - Accounts receivable decreased to CNY 430,897,712.86 from CNY 461,464,978.57, a decline of about 6.61%[14] - Inventory rose to CNY 111,453,217.85 from CNY 102,911,443.30, showing an increase of approximately 8.57%[14] - The company's inventory increased to CNY 69,256,991.16 as of March 31, 2025, compared to CNY 65,579,800.38 at the end of 2024, indicating potential challenges in sales[25] Financial Stability - The company reported a significant increase in cash reserves, which may indicate improved liquidity and financial stability moving forward[13] - Cash and cash equivalents increased to CNY 251,868,173.72 from CNY 209,911,778.63, representing a growth of approximately 19.98%[13] - The ending balance of cash and cash equivalents reached CNY 177,037,726.37, up from CNY 146,166,352.08 at the end of Q1 2024[32]