THEC(BJ:833509)2024-04-22 10:34Financial Performance - Operating revenue for Q1 2024 reached CNY 31,566,514.13, representing a year-on-year increase of 10.55%[11] - Net profit attributable to shareholders for Q1 2024 was CNY 4,403,400.33, up 21.05% from the same period last year[11] - The company reported a 120.68% increase in net profit attributable to shareholders after deducting non-recurring gains and losses, totaling CNY 3,983,196.63[11] - Total operating revenue for Q1 2024 reached CNY 31,566,514.13, an increase of 10.4% compared to CNY 28,553,021.21 in Q1 2023[50] - Total operating costs for Q1 2024 were CNY 28,706,936.21, up from CNY 27,694,163.04 in Q1 2023, reflecting a year-over-year increase of 3.7%[50] - Net profit for Q1 2024 is not explicitly stated, but the increase in revenue suggests potential growth in profitability[50] - The total profit for Q1 2024 was ¥5,017,307.03, up from ¥4,339,606.17 in Q1 2023, marking an increase of 15.6%[52] - The total comprehensive income for Q1 2024 was ¥4,619,337.25, compared to ¥3,797,137.64 in Q1 2023, reflecting overall growth in profitability[53] Cash Flow - The net cash flow from operating activities improved significantly to CNY 3,168,972.79, a 131.46% increase compared to Q1 2023[13] - The cash inflow from operating activities in Q1 2024 was ¥39,968,850.34, compared to ¥37,036,560.31 in Q1 2023, indicating a growth of 7.9%[54] - The net cash flow from operating activities for Q1 2024 was ¥3,581,722.82, a significant improvement compared to a net outflow of ¥8,278,673.51 in Q1 2023[57] - The cash flow from operating activities was impacted by a total outflow of ¥34,621,053.94, compared to ¥43,969,994.79 in Q1 2023[57] Assets and Liabilities - Total assets as of March 31, 2024, were CNY 398,658,190.64, a decrease of 0.15% compared to the end of 2023[11] - The company's total liabilities to assets ratio decreased to 12.29% for the consolidated entity, down from 13.83% at the end of 2023[11] - The company's total current liabilities decreased to CNY 46,626,756.50 from CNY 52,652,090.26, reflecting a decline of approximately 12%[45] - The company's total liabilities decreased to CNY 49,010,452.49 from CNY 55,206,265.66, reflecting a decline of about 11.3%[45] - Total liabilities decreased to CNY 50,247,946.02 from CNY 55,036,891.43, indicating a reduction of approximately 8.5%[49] Shareholder Information - The top ten shareholders hold a total of 111,585,676 shares, representing 68.40% of the company's total shares[21] - Zhao Haohua, the largest shareholder, holds 20,186,100 shares, accounting for 12.38% of the total shares[21] - The company has no pledged or judicially frozen shares among the top ten shareholders[23] - The shareholders have no significant disputes or penalties reported[26] Stock Incentive Plan - The company has implemented a stock incentive plan, which was approved by the board on September 22, 2022[29] - The stock incentive plan includes a list of core employees who are eligible for stock grants[30] - The first grant of restricted stock under the incentive plan was completed on November 11, 2022[33] - The company completed the registration of the remaining equity grants under the 2022 stock incentive plan on October 12, 2023[35] - The company held its first temporary shareholders' meeting on September 12, 2023, to approve the nomination of core employees[35] Operational Activity - The company reported a significant increase in prepayments by 101.91%, totaling CNY 1,395,517.83, indicating increased operational activity[12] - The company's cash and cash equivalents increased to CNY 55,163,464.92 from CNY 46,495,462.36, representing a growth of approximately 18%[44] - Accounts receivable decreased to CNY 13,650,400.92 from CNY 16,974,794.27, indicating a reduction of about 19%[44] - The company's inventory remained relatively stable at CNY 63,722,127.01 compared to CNY 63,955,611.25, showing a minor decrease of about 0.4%[44] - Research and development expenses for Q1 2024 were CNY 5,730,524.11, compared to CNY 5,662,272.09 in Q1 2023, indicating a year-over-year increase of 1.2%[50] - The company reported a decrease in accounts payable to CNY 13,316,958.47 from CNY 9,786,480.61, reflecting a significant increase of approximately 36.0%[48] Legal Matters - There are ongoing litigation matters with a total amount of 3,465,000.00 yuan, which is 0.99% of the company's net assets[27] - There are no significant related party transactions or external guarantees reported during the period[25] - The company has not engaged in any external loans or asset transfers during the reporting period[25]