WTJX(BJ:830839)2024-04-22 12:03Financial Performance - Net profit attributable to shareholders rose by 37.10% to CNY 21,046,067.52, driven by increased operating profit[12] - Operating revenue decreased by 6.21% to CNY 141,624,864.55 compared to the same period last year[12] - The company reported a net profit margin improvement, with operating costs decreasing at a faster rate than revenue[40] - The net profit for Q1 2024 was CNY 21,046,067.52, an increase of 37.0% compared to CNY 15,350,544.29 in Q1 2023[41] - Basic earnings per share increased to CNY 0.1822 in Q1 2024 from CNY 0.1343 in Q1 2023, representing a growth of 35.6%[42] - The total profit for Q1 2024 was CNY 23,810,691.51, an increase of 39.2% compared to CNY 17,073,224.43 in Q1 2023[41] Assets and Liabilities - Total assets increased by 3.67% to CNY 708,139,736.95 compared to the end of last year[12] - The company's total current assets increased to 493,187,017.67 yuan as of March 31, 2024, compared to 469,617,784.83 yuan at the end of 2023, reflecting a growth of approximately 5.4%[33] - The total liabilities of the company amounted to 168,017,644.10 yuan, compared to 164,301,496.83 yuan in the previous period, showing a slight increase of approximately 4.2%[35] - The company's total assets reached 708,139,736.95 yuan, up from 683,103,026.36 yuan, representing an increase of about 3.7%[35] - Total liabilities rose to CNY 168,017,444.10 from CNY 164,301,496.83, an increase of 4.2%[39] Cash Flow - Cash flow from operating activities improved significantly to CNY 19,754,030.14, a turnaround from a negative cash flow of CNY -13,076,785.48 in the previous year[12] - Cash inflow from operating activities was CNY 80,722,317.17 in Q1 2024, up 37.2% from CNY 58,843,673.86 in Q1 2023[44] - The company reported cash inflow from financing activities of ¥13,764,668.99, up from ¥10,000,000.00 in Q1 2023, representing a 37.6% increase[47] - The ending cash and cash equivalents balance was ¥38,463,066.02, compared to ¥3,717,443.52 at the end of Q1 2023, showing a substantial increase of over 935%[45] - The company experienced a net decrease in cash and cash equivalents of -¥5,687,058.82, an improvement from -¥18,867,117.77 in Q1 2023, indicating a reduction in cash burn of approximately 70%[45] Shareholder Information - The total number of unrestricted shares at the end of the period is 64,381,375, representing 53.96% of total shares[19] - The total number of restricted shares at the end of the period is 54,923,625, representing 46.04% of total shares[19] - The total share capital at the end of the period is 119,305,000 shares, a decrease of 37,500 shares from the beginning of the period[19] - The largest shareholder, Wang Wanfah, holds 40,388,000 shares, accounting for 33.85% of total shares[22] - The top ten shareholders collectively hold 93,313,980 shares, which is 78.21% of total shares[22] Operational Efficiency - The company's gross profit margin improved by 3.93 percentage points due to a higher proportion of high-margin products and a decrease in raw material costs[14] - The gross profit margin improved to 25.0% in Q1 2024 from 20.8% in Q1 2023[42] - Total operating costs for Q1 2024 were CNY 119,069,137.87, down 10% from CNY 132,094,870.73 in Q1 2023[40] - The company experienced a significant reduction in financial expenses, reporting a net financial income of CNY 96,058.76 in Q1 2024 compared to an expense of CNY 449,791.25 in Q1 2023[42] Investments and Future Plans - The construction in progress increased by 62.30% to CNY 10,189,336.52, reflecting ongoing investments in production line construction[13] - The company is focusing on market expansion and new product development to drive future growth[40] - The company plans to apply for a comprehensive credit limit not exceeding 150 million yuan from banks and financial institutions[27] - The company plans to apply for a comprehensive credit limit of up to 150 million yuan from banks in 2024, with collateral provided through various assets[28] Miscellaneous - Other income surged by 337.46% to CNY 2,741,852.21, primarily due to increased government subsidies[14] - Non-recurring gains and losses totaled CNY 1,646,114.44, with a significant portion attributed to government subsidies[17] - The company has completed the repurchase and cancellation of 37,500 restricted shares due to the departure of one incentive object[27] - There are no new related party transactions during the reporting period, and the balance of guarantees from related parties is 0 yuan[27] - The company has no litigation or arbitration matters during the reporting period[25] - The company has no major asset freezes, seizures, or pledges during the reporting period[25]