XTC(SH:600549)2024-04-18 12:21Financial Performance - The company's operating revenue for Q1 2024 was ¥8,269,711,547.46, representing a decrease of 3.41% compared to the same period last year[4]. - Total profit for Q1 2024 was ¥810,620,837.65, an increase of 8.25% year-on-year, primarily due to gains from the disposal of real estate assets[8]. - Net profit attributable to shareholders was ¥427,113,021.13, down 2.95% year-on-year, mainly due to a decline in profitability from rare earth business[8]. - The net profit after deducting non-recurring gains and losses was ¥300,796,233.90, a significant decrease of 23.27% year-on-year, attributed to the consolidation changes and increased competition[4][8]. - Total revenue for Q1 2024 was ¥8,269,711,547.46, a decrease of 3.4% compared to ¥8,561,654,015.20 in Q1 2023[21]. - The company reported a net profit margin of approximately 7.2% for Q1 2024, down from 8.2% in Q1 2023[21]. - Net profit for the first quarter reached ¥718.94 million, up from ¥652.73 million, reflecting a growth of approximately 10.12%[23]. - The company reported a total comprehensive income of ¥693.64 million, compared to ¥642.48 million, an increase of approximately 7.96%[24]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥569,468,286.33, showing a recovery compared to the previous year[6]. - The company reported cash and cash equivalents of CNY 4.312 billion as of March 31, 2024, compared to CNY 2.851 billion at the end of 2023, indicating a substantial increase[17]. - The company’s cash and cash equivalents decreased to ¥238,359,994.57 in Q1 2024 from ¥296,245,665.18 in Q1 2023[18]. - Cash flow from operating activities generated a net inflow of ¥569.47 million, compared to a net outflow of ¥3.22 million in the previous year[26]. - The net cash inflow from financing activities was CNY 1,356,803,323.94 for the first quarter of 2024, compared to CNY 3,149,813,187.41 in the same period of 2023, representing a decrease of approximately 57.0%[27]. - The total cash and cash equivalents at the end of Q1 2024 amounted to CNY 4,272,056,342.24, an increase from CNY 2,157,348,119.11 at the end of Q4 2023, reflecting a growth of approximately 97.8%[27]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥40,594,422,695.01, an increase of 3.37% from the end of the previous year[6]. - Total assets reached ¥40,594,422,695.01 in Q1 2024, up from ¥39,272,520,363.25 in Q1 2023[20]. - Total liabilities increased to ¥20,842,028,555.27 in Q1 2024 from ¥20,201,328,318.49 in Q1 2023[19]. - The total equity of the company as of March 31, 2024, was CNY 6,827,001,938.67, down from CNY 6,896,263,661.99 at the end of 2023, reflecting a decrease of approximately 1.0%[31]. Business Segments Performance - In Q1 2024, the tungsten and molybdenum business generated revenue of CNY 4.047 billion, a year-on-year increase of 9.81%, while total profit decreased by 4.59%[14]. - The new energy materials business reported revenue of CNY 3.299 billion, a year-on-year decline of 8.02%, with total profit down by 5.31%[15]. - The rare earth business achieved revenue of CNY 0.912 billion, a year-on-year decrease of 26.66%, and total profit fell by 64.79%[15]. - The real estate business generated revenue of CNY 0.012 billion, a significant year-on-year decline of 73.72%, but total profit increased by CNY 1.68 billion due to investment gains from asset disposals[15]. - The company maintained a leading market position in ternary materials, achieving a sales volume of 15,900 tons, a year-on-year increase of 249%[15]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 91,318, with the largest shareholder holding 31.77% of the shares[9]. Research and Development - R&D expenses increased to ¥358.36 million from ¥308.86 million, a rise of approximately 15.99% year-over-year[23]. - Q1 2024 R&D expenses were CNY 28.60 million, slightly down from CNY 28.74 million in Q1 2023, indicating stable investment in innovation[32]. Market Challenges - The company’s financial performance reflects ongoing challenges in the rare earth sector due to market competition and raw material price fluctuations[15]. - The company plans to focus on expanding its rare earth and new materials business despite current market challenges[8].