LK(SH:600388)2024-04-19 09:05Financial Position - Total assets at the end of the reporting period were approximately ¥25.09 billion, a decrease of 0.82% compared to the end of the previous year[5]. - Equity attributable to shareholders of the listed company increased to approximately ¥7.92 billion, reflecting a growth of 2.28% year-over-year[5]. - The total assets decreased slightly to CNY 25,089,108,388.85 from CNY 25,297,488,964.28, a decrease of approximately 0.83%[12]. - The total liabilities decreased to CNY 16,965,447,007.88 from CNY 17,348,530,591.45, a reduction of about 2.21%[12]. - The total liabilities increased to CNY 14,882,121,778.25 from CNY 14,654,450,192.76, showing a rise of approximately 1.6%[32]. - The total liabilities and equity amounted to CNY 21,687,145,605.47 as of Q1 2024, compared to CNY 21,376,691,820.45 in the previous year[34]. Cash Flow and Financing Activities - Cash and cash equivalents decreased to approximately ¥2.57 billion, down from ¥2.74 billion at the end of the previous year[11]. - The net cash flow from financing activities increased by 41.76%, primarily due to an increase in borrowings from financial institutions[8]. - The cash flow from financing activities showed a net inflow of CNY 746,593,393.31, compared to CNY 526,671,839.85 in the same period last year, indicating a significant increase in financing activities[31]. - The company raised CNY 914,000,000.00 through borrowings in Q1 2024, up from CNY 665,000,000.00 in Q1 2023[35]. - Net cash flow from financing activities for Q1 2024 was CNY 461,379,053.48, compared to CNY 489,433,339.39 in Q1 2023[55]. Revenue and Profitability - The net profit for the first quarter of 2024 was CNY 196,904,580.67, an increase from CNY 181,951,728.63 in the same period last year, representing a growth of approximately 8.4%[28]. - The total revenue for the first quarter was CNY 239,729,318.60, compared to CNY 210,208,415.54 in the previous year, indicating a year-over-year increase of about 14.1%[28]. - The company reported a total comprehensive income of CNY 199,541,506.75 for the quarter, compared to CNY 180,909,230.51 in the previous year, marking an increase of about 10.5%[28]. - The company reported a significant increase in cash received from sales, totaling CNY 994,506,588.20 in Q1 2024, compared to CNY 845,017,792.40 in Q1 2023, representing a growth of 17.7%[35]. - Net profit attributable to shareholders for Q1 2024 was CNY 198,948,207.57, an increase of 7.60% year-over-year[55]. - Basic earnings per share rose to CNY 0.18 from CNY 0.17, while diluted earnings per share increased to CNY 0.17 from CNY 0.16[29]. Assets and Liabilities - Prepayments increased by 39.05% due to higher payments for materials and installation projects[6]. - Other receivables rose by 30.19%, attributed to an increase in cash advances and guarantees paid[6]. - Non-current assets due within one year surged by 164.52%, driven by an increase in large time deposits maturing within the year[6]. - Long-term borrowings increased by 45.70%, indicating a rise in loans from financial institutions[8]. - Long-term borrowings rose to CNY 2,166,556,727.12 from CNY 1,486,958,753.16, an increase of approximately 45.67%[12]. - The company reported a decrease in short-term borrowings to CNY 663,309,748.46 from CNY 751,118,554.53, a decline of about 11.69%[12]. Inventory and Operating Costs - Inventory decreased to approximately ¥5.09 billion, down from ¥5.69 billion, indicating a reduction in stock levels[11]. - The company’s inventory as of March 31, 2024, was CNY 2,804,884,254.48, slightly up from CNY 2,766,681,634.14 at the end of 2023[31]. - Total operating costs for Q1 2024 were CNY 2,076,924,194.45, down from CNY 2,239,008,444.98 in Q1 2023[64]. Research and Development - The company’s R&D expenses for Q1 2024 were CNY 46,153,989.28, down from CNY 57,656,046.20 in Q1 2023, indicating a reduction of 20.0%[34]. - Research and development expenses for Q1 2024 were CNY 84,028,918.71, a decrease from CNY 99,297,085.77 in the previous year[64]. Contract Backlog - The company has a backlog of environmental engineering contracts amounting to CNY 183.55 billion and energy storage system contracts of CNY 16.5 billion[24]. - The company reported a total of CNY 23.11 billion in new environmental engineering contracts, with the power industry accounting for 66.31% and non-power industry for 33.69%[24].