JMC(SZ:000550)2024-04-23 09:54Financial Performance - The company's operating revenue for Q1 2024 was CNY 7,974,792,045, representing a 5.96% increase compared to CNY 7,525,930,457 in the same period last year[3] - Net profit attributable to shareholders for Q1 2024 reached CNY 482,364,920, a significant increase of 163.95% from CNY 182,746,938 in the previous year[3] - The net profit after deducting non-recurring gains and losses was CNY 420,804,103, marking a substantial increase of 4,329.75% compared to CNY 9,499,494 in the same period last year[3] - Operating profit for the quarter was CNY 158,820,893, representing a 9.56% increase from CNY 144,599,480 in Q1 2023[12] - The company reported a total operating cost of CNY 8,118,408,806, which is an increase of 7.25% from CNY 7,571,674,682 in the same period last year[12] - The company achieved a gross profit margin of approximately 13.1% in Q1 2024, compared to 11.5% in Q1 2023[12] Vehicle Sales - The company sold a total of 74,322 vehicles in Q1 2024, which is a 3.43% increase from the previous year, including 17,179 light passenger vehicles, 13,725 trucks, 18,715 pickups, and 24,703 SUVs[5] Cash Flow and Liquidity - The net cash flow from operating activities was -CNY 614,291,227, an improvement of 14.86% compared to -CNY 721,527,544 in the same period last year[3] - Total cash and cash equivalents at the end of Q1 2024 were CNY 10,007,002,631, compared to CNY 7,597,323,128 at the end of Q1 2023, reflecting a year-on-year increase of 31.5%[13] - The company's cash and cash equivalents decreased from 11,830,560,675.00 yuan to 10,098,337,815.00 yuan, a decrease of approximately 14.65%[10] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 27,766,056,883, a decrease of 4.72% from CNY 29,141,187,886 at the end of the previous year[3] - Total current assets decreased from 19,378,130,453.00 yuan at the beginning of the period to 17,839,435,629.00 yuan at the end of the period, a decline of approximately 7.93%[10] - Total liabilities decreased from 19,156,315,266.00 yuan to 17,541,259,242.00 yuan, a reduction of about 8.43%[11] - The company's equity attributable to shareholders increased to CNY 10,833,366,089, reflecting a growth of 4.67% from CNY 10,350,145,738 at the end of the previous year[3] - The total equity attributable to the parent company increased from 10,350,145,738.00 yuan to 10,833,366,089.00 yuan, an increase of approximately 4.66%[11] Inventory and Production - The company reported a 32.59% increase in inventory, amounting to CNY 5.09 billion, primarily due to increased production and raw material procurement[5] - Inventory increased from 1,560,259,511.00 yuan to 2,068,770,281.00 yuan, an increase of about 32.54%[10] Shareholder Information - Total number of common shareholders at the end of the reporting period is 26,676, including 21,184 A-shares and 5,492 B-shares[7] - The largest shareholder, Nanchang Jiangling Investment Co., Ltd., holds 41.03% of shares, totaling 354,176,000 shares[7] - The total number of preferred shareholders is zero, indicating no preferred shares issued[9] - There are no related party transactions among shareholders holding more than 5% of shares[8] Research and Development - Research and development expenses for the quarter were CNY 319,007,229, down from CNY 356,440,851 in Q1 2023, indicating a reduction of 10.5%[12] Other Income and Expenses - Other income increased by CNY 90.91 million, a rise of 45.12%, primarily due to the impact of increased VAT input tax deductions[5] - The company's financial expenses decreased to CNY -56,114,272 from CNY -48,737,584, indicating a worsening in financial costs despite lower interest expenses[12] Market Activity - The company did not report any significant new product launches or market expansions during this quarter[14]