Lushan New Materials(SH:603051)2024-04-22 11:38Financial Performance - The company's operating revenue for Q1 2024 was ¥555,879,052.95, representing a decrease of 21.37% compared to the same period last year[6]. - Total operating revenue for Q1 2024 was ¥555,879,052.95, a decrease of 21.3% compared to ¥706,985,643.26 in Q1 2023[19]. - Net profit attributable to shareholders was ¥24,939,392.72, with a basic earnings per share of ¥0.27 and diluted earnings per share of ¥0.29[6]. - Net profit for Q1 2024 was ¥24,939,392.72, a significant recovery from a net loss of ¥35,057,253.17 in Q1 2023[20]. - Basic earnings per share for Q1 2024 were ¥0.27, compared to a loss of ¥0.38 per share in Q1 2023[21]. - The weighted average return on net assets was 1.88% for the reporting period[7]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥212,271,107.64, indicating cash outflow during the quarter[6]. - Cash inflow from operating activities in Q1 2024 was ¥304,728,213.89, down 52.7% from ¥643,477,976.62 in Q1 2023[24]. - The net cash flow from operating activities was -$212.27 million, compared to -$194.56 million in the previous year, indicating a decline in operational cash generation[25]. - Total cash outflow from investing activities was $250.74 million, significantly higher than $71.59 million in the same period last year, reflecting increased investment expenditures[25]. - The total cash and cash equivalents at the end of the period were $169.80 million, down from $715.41 million at the end of the previous year, indicating a significant reduction in liquidity[26]. - The net increase in cash and cash equivalents was -$118.54 million, contrasting with a positive increase of $536.56 million in the previous year, showing a significant cash outflow[26]. Assets and Liabilities - Total assets increased by 4.03% to ¥2,850,816,222.27 compared to the end of the previous year[7]. - As of March 31, 2024, total assets amounted to ¥2,850,816,222.27, an increase from ¥2,740,270,374.42 as of December 31, 2023, reflecting a growth of approximately 4.03%[14]. - Current assets totaled ¥2,165,038,258.14, compared to ¥2,073,417,768.62 at the end of 2023, indicating a decrease of about 4.3%[15]. - The company's total liabilities as of Q1 2024 were ¥1,509,287,465.82, an increase from ¥1,424,702,275.63 in Q1 2023[17]. - The total liabilities increased to ¥2,165,038,258.14, compared to the previous total, reflecting a change in the financial structure[15]. Shareholder Information - The company had a total of 19,534 common shareholders at the end of the reporting period[11]. - Total equity attributable to shareholders was ¥1,341,528,756.45 in Q1 2024, up from ¥1,315,568,098.79 in Q1 2023[17]. - The company reported a total equity attributable to shareholders of ¥1,341,528,756.45, reflecting a 1.97% increase from the previous year[7]. - There are no significant changes reported in the top 10 shareholders or their participation in financing activities during the reporting period[13]. Operational Highlights - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[13]. - Non-recurring gains and losses amounted to ¥8,711,912.88, primarily from government subsidies and other non-operating income[9]. - The net profit attributable to shareholders after deducting non-recurring gains and losses showed improvement due to increased gross margin and reduced operating expenses[9]. - The company reported a credit impairment loss of ¥-1,281,796.28 in Q1 2024, an improvement from ¥-9,644,524.47 in Q1 2023[20]. Cost Management - Total operating costs for Q1 2024 were ¥541,888,989.11, down 27.5% from ¥747,157,369.60 in Q1 2023[19]. - Cash paid for purchasing goods and services in Q1 2024 was ¥474,175,019.46, a decrease of 41.1% from ¥806,921,533.89 in Q1 2023[24]. - The company paid $34.46 million in employee-related cash, an increase from $28.65 million, reflecting higher personnel costs[25].