Huada(SH:603358)2025-04-29 15:18Financial Performance - Revenue for Q1 2025 was CNY 999,045,520.58, a decrease of 27.73% compared to CNY 1,382,344,288.26 in the same period last year[4] - Net profit attributable to shareholders was CNY 45,819,528.03, down 71.39% from CNY 160,127,886.45 year-on-year[4] - Basic and diluted earnings per share decreased by 72.22% to CNY 0.10 from CNY 0.36 in the previous year[5] - Operating cash flow turned negative at CNY -14,148,390.23, a decline of 108.74% compared to CNY 161,818,810.28 in the same period last year[4] - Total operating revenue for Q1 2025 was approximately CNY 999.05 million, a decrease of 27.7% compared to CNY 1,382.34 million in Q1 2024[22] - Net profit for Q1 2025 was CNY 50.00 million, down 70.1% from CNY 167.31 million in Q1 2024[23] - Operating profit for Q1 2025 was CNY 48.64 million, a decline of 74.2% from CNY 188.86 million in Q1 2024[22] - The company reported a decrease in sales revenue from CNY 782.49 million in Q1 2025 compared to CNY 1,064.19 million in Q1 2024[25] - The company's total operating costs for Q1 2025 were CNY 970.55 million, a decrease of 21.2% from CNY 1,231.19 million in Q1 2024[22] - The gross profit margin for Q1 2025 was approximately 12.0%, down from 15.5% in Q1 2024, reflecting increased cost pressures[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,649,458,200.71, a decrease of 2.29% from CNY 6,805,289,773.43 at the end of the previous year[5] - The company's total liabilities increased to RMB 3,233,023,141.91 as of March 31, 2025, compared to RMB 3,076,000,463.07 at the end of 2024[17] - The company's total liabilities rose to CNY 2,090,861,043.82 from CNY 1,762,293,063.74, indicating a higher leverage position[29] - Total assets increased to CNY 5,256,661,151.22 as of March 31, 2025, compared to CNY 4,648,577,308.08 at the end of 2024[29] - The total equity attributable to shareholders rose to RMB 3,363,991,224.23 from RMB 3,354,979,204.21, reflecting a slight increase of about 0.3%[17] Cash Flow - Cash flow from operating activities for Q1 2025 was negative CNY 14.15 million, compared to positive CNY 161.82 million in Q1 2024[25] - Cash flow from investing activities for Q1 2025 was positive CNY 5.26 million, a significant improvement from negative CNY 444.73 million in Q1 2024[26] - Cash flow from financing activities for Q1 2025 was negative CNY 0.73 million, compared to positive CNY 14.99 million in Q1 2024[26] - The company's cash and cash equivalents decreased to CNY 667,941,870.89 from CNY 696,246,896.51 as of December 31, 2024[27] - The ending cash and cash equivalents balance was ¥624,641,870.89, down from ¥692,643,930.88 at the end of Q1 2024[34] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 8,078[9] - The largest shareholder, Chen Jinghong, holds 39.04% of the shares, totaling 179,424,656 shares[9] - The company issued 20,496,891 new restricted shares, increasing the total share capital from 439,040,000 shares to 459,536,891 shares[11] Operational Challenges - The decline in revenue was primarily due to a decrease in sales volume of major products and increased material costs[7] - The company is currently in the ramp-up phase of its die-casting project, contributing to increased expenses[7] Inventory and Receivables - The accounts receivable increased to RMB 947,146,379.26 from RMB 1,139,817,931.54, indicating a decrease of about 16.9%[15] - The inventory increased to RMB 1,199,788,107.75 from RMB 1,126,188,437.72, showing an increase of approximately 6.5%[15] - The company reported a significant increase in accounts receivable, totaling CNY 1,008,926,689.84, compared to CNY 1,018,974,574.30 at the end of 2024[27] - The company’s inventory increased to CNY 445,626,567.93 from CNY 416,193,612.09, reflecting a strategy to build stock levels[28] Research and Development - Research and development expenses for Q1 2025 were CNY 21,398,198.24, slightly down from CNY 23,758,542.57 in Q1 2024[31]