森麒麟(002984) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was ¥2,115,099,456.05, representing a 27.59% increase compared to ¥1,657,704,459.58 in the same period last year[3]. - Net profit attributable to shareholders for Q1 2024 reached ¥503,718,461.70, a significant increase of 101.34% from ¥250,186,589.84 in Q1 2023[3]. - The net profit after deducting non-recurring gains and losses was ¥496,509,895.30, up 106.70% from ¥240,206,352.35 year-on-year[3]. - Basic earnings per share for Q1 2024 were ¥0.68, an increase of 74.36% from ¥0.39 in Q1 2023[3]. - The total operating revenue for Q1 2024 was CNY 2,115,099,456.05, an increase of 27.5% compared to CNY 1,657,704,459.58 in the same period last year[22]. - The operating profit for Q1 2024 was CNY 530.14 million, up from CNY 261.42 million in Q1 2023, reflecting a growth of 102.6%[23]. - The company reported a total comprehensive income of CNY 545.59 million for Q1 2024, compared to CNY 183.37 million in Q1 2023, indicating a growth of 197.5%[24]. Assets and Equity - The total assets at the end of Q1 2024 were ¥16,066,917,530.89, reflecting a 2.66% increase from ¥15,649,926,492.85 at the end of the previous year[3]. - The total equity attributable to shareholders at the end of Q1 2024 was ¥12,242,566,473.29, a 3.87% increase from ¥11,786,295,058.75 at the end of the previous year[3]. - Total assets as of March 31, 2024, were RMB 16,066.9175 million, a 2.66% increase from the end of the previous year, while net assets grew by 3.87% to RMB 12,242.5665 million[12]. Cash Flow and Expenses - The company's cash flow from operating activities was ¥398,948,251.34, showing a slight increase of 2.97% compared to ¥387,444,324.88 in the previous year[3]. - The cash and cash equivalents decreased to CNY 2,866,358,880.92 from CNY 3,893,867,319.27, a decline of 26.3%[20]. - The investment activities resulted in a net cash outflow of CNY 1.55 billion, compared to an outflow of CNY 238.30 million in the previous year[26]. - The total operating costs for Q1 2024 were CNY 1,588,115,068.22, up from CNY 1,409,278,671.06, reflecting a year-over-year increase of 12.7%[22]. Research and Development - The company's R&D expenses for Q1 2024 amounted to ¥50,813,068.18, an increase of 80.00% compared to ¥28,229,694.42 in the same period last year[6]. - Research and development expenses increased significantly to CNY 50,813,068.18 from CNY 28,229,694.42, reflecting a year-over-year growth of 80.0%[22]. - The company plans to expand its market presence and invest in new technologies to enhance product offerings and improve operational efficiency[22]. Sales and Production - In Q1 2024, the company produced 8.0757 million tires, a 28% increase year-over-year, with semi-steel tire production up 26% and full-steel tire production up 148%[12]. - Tire sales reached 7.6071 million units, a 15.70% increase from the previous year, with semi-steel tire sales up 12.76% and full-steel tire sales up 175.28%[12]. - The company experienced a 69.56% increase in sales expenses, totaling ¥36,212,384.86, attributed to the expansion of sales scale[6]. Shareholder Actions - The company repurchased 5,205,569 shares through a buyback program, which has been completed and the shares have been canceled, reducing registered capital accordingly[13][14]. - The company issued 94,307,847 shares at a price of RMB 29.69 per share, which were listed and became tradable on March 1, 2024[16][17]. Regulatory and Market Conditions - The U.S. Department of Commerce determined a final anti-dumping duty rate of 1.24% for the company's subsidiary in Thailand, significantly lower than the original rate, enhancing its competitiveness in the U.S. market[15].