HYATECH(SH:688510)2024-04-17 12:21Financial Performance - The company's operating revenue for Q1 2024 reached ¥160,567,819.53, representing a 41.76% increase compared to ¥113,264,044.32 in Q1 2023[18] - Net profit attributable to shareholders increased by 153.27% to ¥40,000,000, driven by revenue growth and changes in product structure[18] - The net profit attributable to shareholders for Q1 2024 was ¥31,645,687.53, a significant increase of 153.27% year-over-year[26] - The company's net profit for Q1 2024 was approximately RMB 30.69 million, a significant increase of 148.5% compared to RMB 12.33 million in Q1 2023[39] - The company's operating profit for Q1 2024 was approximately RMB 35.99 million, compared to RMB 13.02 million in the same period last year, indicating a year-over-year increase of 176.5%[39] - Total comprehensive income amounted to 30,691,869.09, compared to 12,328,905.64 in the previous period, indicating a significant increase[45] - Comprehensive income attributable to the parent company's owners reached 31,645,687.53, up from 12,494,950.46, reflecting strong performance[45] Earnings and Shares - Basic and diluted earnings per share both increased by 140.00% to ¥0.40 per share[18] - The company reported a basic earnings per share of ¥0.12 for Q1 2024, reflecting a 140.00% increase year-over-year[27] - Basic and diluted earnings per share were both 0.12, an increase from 0.05 in the prior period, showcasing improved profitability[45] Assets and Liabilities - Total assets as of the end of Q1 2024 amounted to ¥1,664,798,296.85, up from ¥1,585,860,374.06 at the end of Q1 2023[18] - Total liabilities increased to ¥544,279,072.61 from ¥496,033,018.91 year-over-year[18] - The total non-current assets reached ¥978,646,327.01, compared to ¥922,536,895.76 in the previous year[18] - The company's total current assets amounted to approximately RMB 686.15 million, an increase from RMB 663.32 million as of December 31, 2023, reflecting a growth of about 3.9%[35] - Accounts receivable increased to approximately RMB 228.05 million from RMB 181.99 million, representing a growth of about 25.3%[35] Cash Flow - The net cash flow from operating activities for Q1 2024 was ¥22,452,125.25, recovering from a negative cash flow of ¥15,936,915.61 in Q1 2023[22] - The net cash flow from financing activities for Q1 2024 was ¥69,178,025.36, a substantial increase from ¥8,052,405.21 in Q1 2023[22] - The company raised ¥83,300,000.00 through borrowings in Q1 2024, compared to only ¥9,000,000.00 in the same period last year[22] - Cash and cash equivalents at the end of Q1 2024 were ¥186,295,250.75, down from ¥212,456,772.03 at the end of the previous year[22] - The company's cash and cash equivalents decreased to approximately RMB 200.69 million from RMB 218.15 million, a decline of about 8.0%[35] Research and Development - Research and development expenses totaled ¥10,918,608.89, accounting for 6.80% of operating revenue, a decrease of 2.92 percentage points from the previous year[27] - Research and development expenses for Q1 2024 were approximately RMB 10.92 million, slightly down from RMB 11.01 million in Q1 2023, showing a decrease of about 0.8%[39] Tax and Other Expenses - The company reported a tax expense of approximately RMB 5.30 million for Q1 2024, compared to RMB 1.41 million in Q1 2023, reflecting an increase of about 275.5%[39] Market Strategy - The company plans to continue expanding its market presence and investing in new technologies to sustain growth[18] Shareholder Information - The company has not reported any significant changes in its major shareholders or their shareholdings during the reporting period[33] Product Development - There are no new product launches or technological developments mentioned in the current report[42]