BESTEK(300822)2024-04-19 10:28Revenue and Profitability - The company's revenue for Q1 2024 was ¥203,144,539.18, a decrease of 13.92% compared to ¥236,000,344.09 in the same period last year[5] - Net profit attributable to shareholders increased by 40.94% to ¥16,706,825.65 from ¥11,854,215.41 year-on-year[5] - Net profit for Q1 2024 was ¥11,592,697.40, slightly up from ¥11,543,623.58 in the same period last year, indicating a marginal increase of 0.4%[20] - The net profit attributable to the parent company was ¥16,706,825.65, compared to ¥11,854,215.41 in Q1 2023, reflecting a significant increase of 41%[21] - Earnings per share (EPS) for Q1 2024 was ¥0.0696, down from ¥0.0741 in Q1 2023, a decrease of approximately 6%[21] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥15,524,740.20, a decline of 125.63% compared to ¥60,580,577.51 in the previous year[5] - The net cash flow from operating activities for Q1 2024 was -15,524,740.20 CNY, a significant decrease compared to 60,580,577.51 CNY in Q1 2023[24] - Total cash inflow from operating activities was 189,921,499.42 CNY, while total cash outflow was 205,446,239.62 CNY, resulting in a cash flow deficit[24] - The cash and cash equivalents at the end of Q1 2024 amounted to 449,413,204.40 CNY, down from 491,688,362.41 CNY at the beginning of the quarter[25] - The company received 2,576,847.27 CNY in tax refunds during the quarter, which is a decrease from 5,593,356.91 CNY in the previous year[24] - The company’s cash flow management strategies may need reassessment given the significant cash flow deficits across operating and investing activities[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,533,072,141.86, down 1.45% from ¥1,555,625,571.62 at the end of the previous year[5] - The total assets of Shenzhen Bestar Technology Co., Ltd. as of March 31, 2024, amounted to CNY 1,533,072,141.86, a decrease from CNY 1,555,625,571.62 at the beginning of the period[16] - The company's cash and cash equivalents decreased to CNY 451,486,810.25 from CNY 497,401,494.04, reflecting a decline of approximately 9.2%[16] - Total liabilities decreased to ¥267,482,818.95 from ¥289,299,801.39, a reduction of about 7.5%[20] - The company's total liabilities included accounts payable of CNY 150,959,989.82, down from CNY 166,494,311.26, a decrease of approximately 9.3%[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,191, with no preferred shareholders[10] - The top two shareholders, Shenzhen Taiping Ding Sheng Investment Co., Ltd. and Shenzhen Yilongda Ke Investment Co., Ltd., hold 31.05% and 29.43% of the shares, respectively[10] - The company held 961,100 shares in its repurchase account, representing 0.40% of total shares[14] - The number of restricted shares held by major shareholders remained unchanged at 17,349,356.00 shares[13] - The company’s major shareholders include Shenzhen Taiping Dingsheng Investment Co., Ltd. and Shenzhen Yilong Dak Investment Co., Ltd., holding 74,520,000 and 70,632,000 shares respectively[12] Expenses and Costs - Total operating costs decreased to ¥189,428,135.22 from ¥226,584,344.01, representing a reduction of approximately 16%[20] - Research and development expenses were ¥8,645,173.66, down from ¥10,998,438.56, indicating a decrease of approximately 21%[20] - The company reported a significant increase in sales expenses, which rose by 81.18% to ¥7,713,539.56 compared to ¥4,257,460.12 in the previous year[8] Other Income and Comprehensive Income - Other income increased by 243.10% to ¥2,131,240.43 from ¥621,174.77 year-on-year, primarily due to new government subsidies received in the second half of the previous year[8] - Other comprehensive income after tax was -¥2,378,700.05, compared to -¥1,208,319.09 in the previous year, reflecting a decline in comprehensive income[21]