QA(SH:603758)2025-04-29 13:13Financial Performance - The company's operating revenue for Q1 2025 was CNY 297,367,393.83, a decrease of 28.59% compared to CNY 416,417,220.05 in the same period last year[6]. - Net profit attributable to shareholders was CNY 32,794,692.78, down 32.73% from CNY 48,753,926.16 year-on-year[6]. - The net profit after deducting non-recurring gains and losses was CNY 31,845,371.81, reflecting a significant decline of 51.76% from CNY 66,019,271.25 in the previous year[6]. - The basic earnings per share decreased to CNY 0.08, down 33.33% from CNY 0.12 in the same period last year[6]. - Operating profit for Q1 2025 was ¥36.17 million, a decrease of 37.7% compared to ¥58.07 million in Q1 2024[21]. - Total operating revenue for Q1 2025 was ¥297.37 million, a decrease of 28.6% compared to ¥416.42 million in Q1 2024[21]. - Net profit for Q1 2025 was ¥32.79 million, a decline of 32.7% from ¥48.75 million in Q1 2024[22]. - Basic earnings per share for Q1 2025 were ¥0.08, compared to ¥0.12 in Q1 2024[22]. Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY 36,233,432.29, a decrease of 18.17% compared to CNY 44,280,099.84 in the same period last year[6]. - Cash flow from operating activities for Q1 2025 was ¥36.23 million, down 18.1% from ¥44.28 million in Q1 2024[24]. - Cash flow from investing activities for Q1 2025 was -¥147.47 million, compared to -¥21.08 million in Q1 2024[25]. - Cash flow from financing activities for Q1 2025 was -¥127.66 million, a significant increase from -¥40.00 million in Q1 2024[25]. - The ending cash and cash equivalents balance for Q1 2025 was ¥829.12 million, down from ¥990.08 million in Q1 2024[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,770,520,758.85, down 3.95% from CNY 2,884,489,843.36 at the end of the previous year[7]. - As of March 31, 2025, the total assets of Chongqing Qin'an Electromechanical Co., Ltd. amounted to RMB 2,770,520,758.85, a decrease from RMB 2,884,489,843.36 as of December 31, 2024, reflecting a decline of approximately 3.93%[16]. - The company's total liabilities decreased from RMB 500,377,981.38 on December 31, 2024, to RMB 343,096,818.33 on March 31, 2025, representing a reduction of about 31.5%[17]. - The total current liabilities decreased from RMB 482,079,331.06 on December 31, 2024, to RMB 330,035,601.09 on March 31, 2025, a reduction of about 31.5%[17]. - Cash and cash equivalents decreased from RMB 1,082,660,246.99 on December 31, 2024, to RMB 958,620,941.14 on March 31, 2025, a decline of about 11.5%[15]. - Accounts receivable rose from RMB 339,948,109.25 as of December 31, 2024, to RMB 234,326,714.34 as of March 31, 2025, indicating a decrease of approximately 31.1%[15]. - Inventory increased from RMB 224,733,521.52 on December 31, 2024, to RMB 264,076,819.90 on March 31, 2025, reflecting an increase of about 17.5%[15]. - The company's short-term borrowings slightly increased from RMB 14,710,000.00 on December 31, 2024, to RMB 15,383,090.00 on March 31, 2025, an increase of approximately 4.6%[17]. - The company reported a decrease in other payables from RMB 136,654,683.62 on December 31, 2024, to RMB 7,898,972.14 on March 31, 2025, indicating a significant decline of approximately 94.2%[17]. Market Conditions - The average procurement price of aluminum increased by 4.87% year-on-year to CNY 17.73 per kg, while the average procurement price of copper rose by 11.29% to CNY 68.85 per kg[9]. - The company experienced a decrease in sales volume due to intensified industry competition, leading to a significant drop in revenue and profit margins[9]. Equity and Expenditure - The total equity attributable to shareholders increased from RMB 2,384,111,861.98 as of December 31, 2024, to RMB 2,427,423,940.52 as of March 31, 2025, marking an increase of approximately 1.8%[17]. - The company’s development expenditure increased from RMB 72,409,503.59 on December 31, 2024, to RMB 76,772,406.26 on March 31, 2025, reflecting an increase of about 6%[16]. - Other comprehensive income after tax for Q1 2025 was ¥295,591.75, compared to a loss of ¥54,975.00 in Q1 2024[22].