驰宏锌锗(600497) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 4,672,162,549.90, a decrease of 19.60% compared to CNY 5,787,614,493.61 in the same period last year[4] - Net profit attributable to shareholders was CNY 487,535,414.51, down 22.60% from CNY 580,468,012.35 year-on-year[4] - The net cash flow from operating activities decreased by 45.67% to CNY 712,212,663.99 from CNY 1,247,965,642.82 in the previous year[4] - Total operating revenue for Q1 2024 was ¥4,672,162,549.90, a decrease of 19.5% compared to ¥5,810,957,962.15 in Q1 2023[19] - Net profit for Q1 2024 was ¥482,377,627.42, a decline of 23.6% from ¥631,551,715.15 in Q1 2023[20] - The company reported a total comprehensive income of ¥461,298,504.73 for Q1 2024, down from ¥614,711,116.13 in Q1 2023, a decrease of 25%[20] Cash Flow Analysis - The net cash flow from operating activities decreased by 45.67% due to a decline in product prices and increased procurement of quality raw materials[8] - The cash inflow from operating activities was approximately $4.61 billion, a decrease of 34.8% compared to $7.08 billion in Q1 2023[22] - The cash outflow for purchasing goods and services was approximately $2.96 billion in Q1 2024, down from $5.02 billion in Q1 2023, indicating cost management efforts[22] - The cash outflow for taxes paid increased to approximately $377.55 million in Q1 2024 from $310.75 million in Q1 2023, reflecting higher tax obligations[22] Investment Activities - The net cash flow from investing activities increased by 161.10% primarily due to payments for equity acquisitions[8] - The net cash outflow from investing activities was approximately -$802.68 million in Q1 2024, compared to -$307.42 million in Q1 2023, indicating increased investment expenditures[23] - The cash inflow from other investment activities was approximately $438.23 million in Q1 2024, significantly higher than $6.35 million in Q1 2023, suggesting strategic investment decisions[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 159,931[9] - The largest shareholder, Yunnan Metallurgical Group Co., Ltd., holds 1,944,142,784 shares, accounting for 38.19% of total shares[9] - The company reported a total of 25.57 million shares acquired by China Aluminum Group, which is 0.50% of the total issued shares[14] Asset and Liability Overview - The total assets at the end of the reporting period were CNY 27,259,110,683.57, a decrease of 2.14% from CNY 26,567,302,114.24 at the end of the previous year[4] - Total liabilities as of March 31, 2024, amounted to ¥8,505,072,509.33, slightly up from ¥8,464,784,256.03 at the end of 2023[17] - The company’s total liabilities decreased to approximately 10.67 billion from 10.85 billion in the previous quarter[16] Research and Development - Research and development expenses rose by 213.90% as a result of increased investment in R&D[8] - Research and development expenses for Q1 2024 were ¥20,105,109.35, significantly higher than ¥6,404,953.46 in Q1 2023, marking an increase of 213.5%[19] Acquisitions - The company completed the acquisition of 100% equity in Qinghai Hongxin Mining Co., Ltd. on January 12, 2024, which will be included in the consolidated financial statements[4] - The acquisition of 100% equity in Yunnan Metallurgical Construction Engineering Quality Testing Co., Ltd. was completed on January 25, 2024, and will also be included in the consolidated financial statements[5] Inventory and Receivables - Accounts receivable increased by 31.51% due to uncollected sales of zinc alloy products within the credit limit and period[7] - The company’s inventory stood at approximately 1.61 billion, slightly down from 1.62 billion at the end of 2023[15] - The company’s accounts receivable increased to approximately 204 million from 155 million in the previous quarter[15] Other Financial Metrics - The weighted average return on net assets decreased to 3.04%, down 0.80 percentage points from 3.82% in the previous year[4] - Other income increased by 706.83% due to the implementation of the incremental VAT policy[8] - The net profit from non-recurring gains and losses amounted to CNY 27,433,348.83, after accounting for tax and minority interests[6] - The company's unallocated profits increased by 30.57% due to retained earnings growth[8] - The company's derivative financial liabilities decreased by 94.09% due to reduced floating losses on commodity futures[8] - The asset disposal income increased significantly by 15,926.81% due to high gains from the disposal of transmission lines[8]