梅花生物(600873) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was RMB 6.49 billion, a decrease of 6.67% compared to the same period last year[4]. - Net profit attributable to shareholders was RMB 751.70 million, down 6.13% year-on-year, primarily due to a decrease in gross profit margin from lower prices of by-products[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 636.71 million, a decline of 19.01% compared to the previous year[6]. - The company reported a decrease in gross profit of RMB 125 million, impacting net profit due to lower prices of main products[6]. - Total revenue for Q1 2024 was approximately ¥6.46 billion, a decrease from ¥6.92 billion in Q1 2023, representing a decline of about 6.7%[23]. - Operating profit for Q1 2024 was ¥885.85 million, down from ¥945.13 million in Q1 2023, reflecting a decrease of approximately 6.3%[23]. - Net profit for Q1 2024 was ¥751.70 million, compared to ¥800.79 million in Q1 2023, indicating a decline of around 6.1%[23]. - Total comprehensive income for Q1 2024 was ¥762.60 million, down from ¥800.79 million in Q1 2023, reflecting a decrease of approximately 4.8%[23]. Cash Flow and Liquidity - The net cash flow from operating activities was negative RMB 30.40 million, representing a decrease of 109.12% year-on-year, attributed to reduced sales revenue from price declines despite increased sales volume[6]. - Cash flow from operating activities showed a net outflow of ¥30.40 million in Q1 2024, contrasting with a net inflow of ¥333.49 million in Q1 2023[23]. - Cash and cash equivalents decreased to RMB 4,618,039,330.10 from RMB 4,969,794,482.39 as of December 31, 2023, representing a decline of approximately 7.1%[16]. - Cash and cash equivalents at the end of the period amounted to 4,446,176,513.34, up from 3,266,207,284.58[24]. - Net cash flow from investing activities was -491,812,712.47, a decrease from -969,363,892.65[24]. - Cash inflow from financing activities totaled 1,950,928,102.76, compared to 727,480,000.00 in the previous period[24]. - Net cash flow from financing activities was 160,431,581.17, an improvement from -217,902,070.37[24]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 23.43 billion, an increase of 1.20% from the end of the previous year[4]. - The company's total current assets increased to RMB 9,608,806,563.40 from RMB 9,507,311,168.50, marking an increase of about 1.1%[16]. - Non-current assets totaled ¥13,825,140,752.91, slightly up from ¥13,649,868,686.75 in the previous year, indicating a growth of 1.3%[18]. - Current liabilities decreased to ¥6,442,166,396.96 from ¥6,528,739,033.97, a reduction of 1.3%[18]. - Total liabilities amounted to ¥8,568,614,042.24, down from ¥8,994,165,041.58, indicating a decrease of 4.7%[18]. - Shareholders' equity attributable to the parent company was RMB 14.87 billion, up 4.96% from the end of the previous year[4]. - Shareholders' equity increased to ¥14,865,333,274.07 from ¥14,163,014,813.67, reflecting a growth of 4.9%[18]. Operational Efficiency and Strategy - The company plans to focus on improving product pricing strategies and enhancing operational efficiency to counteract market price fluctuations[6]. - Research and development expenses increased to ¥90.84 million in Q1 2024 from ¥70.83 million in Q1 2023, marking an increase of approximately 28.3%[23]. - Sales expenses decreased to ¥109.21 million in Q1 2024 from ¥124.53 million in Q1 2023, a reduction of about 12.3%[23]. Shareholder Actions - As of March 31, 2024, the company repurchased a total of 69,634,252 shares, accounting for 2.37% of the total share capital of 2,943,426,102 shares, with a total expenditure of RMB 638.19 million[12]. - Management has committed to a share buyback plan with a minimum investment of RMB 80 million, with no upper price limit, to be executed by July 8, 2024[13]. - The company plans to implement an employee stock ownership plan involving 227 participants, with a total of 191,750,800 shares allocated[12]. - The company has not yet purchased shares under the 2024 employee stock ownership plan, although the account has been established and funds have been deposited[12]. Other Financial Metrics - The weighted average return on net assets was 5.18%, a decrease of 0.59 percentage points compared to the previous year[4]. - Basic and diluted earnings per share remained stable at ¥0.26 for both Q1 2024 and Q1 2023[22]. - Other comprehensive income after tax for Q1 2024 was ¥10.90 million, with no comparable figure reported for Q1 2023[23]. - The company reported a significant increase in cash received from operating activities, totaling ¥6.79 billion in Q1 2024, compared to ¥7.10 billion in Q1 2023[23]. - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was 387,432,533.21[24]. - The impact of exchange rate changes on cash and cash equivalents was 27,345,563.85, contrasting with -8,821,255.04 in the prior period[24]. - The company did not apply new accounting standards or interpretations for the first quarter of 2024[25].