ANGEL YEAST(SH:600298)2024-04-19 09:58Financial Performance - The company's operating revenue for Q1 2024 was RMB 3,482,528,863.98, representing a 2.52% increase compared to the adjusted revenue of RMB 3,396,815,398.88 in the same period last year[4]. - Net profit attributable to shareholders decreased by 9.45% to RMB 319,015,411.62 from RMB 352,321,475.54 in the previous year[4]. - Basic and diluted earnings per share were both RMB 0.37, down 9.76% from RMB 0.41 in the previous year[5]. - The company's operating profit for Q1 2024 was 387,232,226.30 CNY, a decrease of 7.5% compared to 420,001,543.03 CNY in Q1 2023[23]. - The total profit for Q1 2024 was 388,410,918.97 CNY, down 8.2% from 423,291,916.91 CNY in Q1 2023[23]. - Net profit for Q1 2024 was approximately ¥66.29 million, down 46.8% from ¥124.62 million in Q1 2023[29]. - The company reported a net profit margin improvement, with net profit for Q1 2024 expected to be higher than the previous year, although specific figures were not disclosed[21]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at RMB -659,301,132.10, a significant decline of 623.26% compared to RMB 125,998,723.35 in the same period last year[4]. - Cash flow from operating activities decreased by 623.26% compared to the same period last year, primarily due to increased procurement expenses and strategic reserves[9]. - Cash received from financing activities increased by 383.44% compared to the same period last year, primarily due to increased borrowings[11]. - Cash and cash equivalents as of March 31, 2024, amounted to CNY 1,227,716,992.89, compared to CNY 1,193,658,292.40 at the end of 2023, showing a growth of 2.9%[18]. - The company reported a net cash increase of ¥34,058,700.49 in cash and cash equivalents for Q1 2024, compared to a decrease of ¥169,165,688.12 in Q1 2023[26]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 20,468,007,233.04, reflecting a 6.02% increase from RMB 19,305,881,373.72 at the end of the previous year[5]. - Total liabilities increased to CNY 9,765,948,742.28 from CNY 8,689,492,279.77, marking a rise of 12.4%[20]. - Short-term borrowings as of March 31, 2024, were CNY 3,868,464,318.99, compared to CNY 2,904,233,424.22 at the end of 2023, reflecting a significant increase of 33.2%[19]. - Total assets increased to ¥14,682,580,461.01 as of March 31, 2024, up from ¥13,457,934,624.29 at the end of 2023, representing a growth of approximately 9.1%[28]. - The company's total liabilities rose to ¥7,002,296,083.63 in Q1 2024, compared to ¥5,626,565,847.59 in Q1 2023, indicating an increase of about 24.4%[28]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 97,847[12]. - The largest shareholder, Hubei Angel Biotechnology Group Co., Ltd., holds 330,707,745 shares, accounting for 38.07% of the total shares[12]. - The company repurchased 10,944,008 shares, representing 1.2597% of the total share capital at the end of the reporting period[13]. Expenses and Investments - Total operating costs for Q1 2024 were CNY 3,108,769,864.05, up from CNY 2,988,923,669.39 in Q1 2023, reflecting a year-over-year increase of 4.0%[21]. - Research and development expenses increased to 144,443,397.45 CNY in Q1 2024, up from 130,102,451.06 CNY in Q1 2023, reflecting a growth of 11%[23]. - Financial expenses increased by 47.09% compared to the same period last year, mainly due to an increase in interest expenses[9]. - The company recorded a net loss from investments of -690,993.91 CNY in Q1 2024, compared to a loss of -569,622.38 CNY in Q1 2023[23]. - The company acquired 100% equity of Yichang Angel Biotechnology Co., Ltd. for RMB 20.89 million, which was completed on March 27, 2024[5].