江龙船艇(300589) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 reached ¥357,123,906.29, representing a 109.57% increase compared to ¥170,409,548.97 in the same period last year[2] - Net profit attributable to shareholders was ¥13,870,942.58, up 157.76% from ¥5,381,368.61 year-on-year[2] - The net profit after deducting non-recurring gains and losses was ¥13,407,457.51, a significant increase of 351.92% from ¥2,966,774.34 in the previous year[2] - Basic earnings per share increased to ¥0.0367, a rise of 158.45% from ¥0.0142 in the previous year[2] - Operating profit for the current period was ¥16,350,360.77, compared to ¥5,525,650.09 in the previous period, indicating an increase of about 195.5%[22] - The total comprehensive income for the current period was ¥13,871,957.04, compared to ¥3,666,060.54 in the previous period, indicating a growth of approximately 278.5%[22] Cash Flow and Liquidity - The company's cash flow from operating activities showed a net outflow of ¥202,695,293.75, worsening by 153.56% compared to a net outflow of ¥79,939,575.73 in the same period last year[2] - In Q1 2024, the net cash flow from financing activities was -3,863,883.65 CNY, compared to 1,527,881.64 CNY in the previous year[24] - The total cash inflow from financing activities was 21,871,537.87 CNY, an increase from 14,409,676.60 CNY year-over-year[24] - The total cash outflow from financing activities was 25,735,421.52 CNY, up from 12,881,794.96 CNY in the same period last year[24] - The net increase in cash and cash equivalents was -221,926,372.93 CNY, compared to -102,435,137.59 CNY in Q1 2023[24] - The ending balance of cash and cash equivalents was 389,343,478.40 CNY, down from 611,269,851.33 CNY at the beginning of the period[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,232,787,572.46, down 6.68% from ¥2,392,491,359.08 at the end of the previous year[2] - The company's total liabilities decreased from RMB 1.51 billion to RMB 1.40 billion during the reporting period[19] - Current assets decreased from RMB 1.55 billion to RMB 1.32 billion, with cash and cash equivalents dropping from RMB 727.69 million to RMB 329.78 million[18] - The equity attributable to shareholders increased to ¥835,281,200.35, reflecting a 2.04% growth from ¥818,580,992.89 at the end of the previous year[2] - The company reported a decrease in short-term borrowings from RMB 31.02 million to RMB 10.01 million[19] Operational Highlights - The company reported a significant increase in accounts receivable, which rose by 120.53% to ¥412,667,677.78, attributed to increased project progress[6] - The company experienced a 99.37% increase in operating costs, amounting to ¥335,862,076.28, primarily due to increased project investments[6] - Research and development expenses for the current period were ¥11,059,596.95, slightly down from ¥11,323,730.86 in the previous period, indicating a decrease of about 2.3%[21] - Total operating costs for the current period were ¥335,862,076.28, compared to ¥168,465,316.60 in the previous period, marking an increase of approximately 99.5%[21] Order and Project Updates - In Q1 2024, the company signed new orders with a net amount of 80 million RMB, a significant decrease compared to the same period last year, which included a major order of 1.409 billion RMB[11] - As of March 31, 2024, the company has a backlog of orders amounting to 1.98 billion RMB[11] - The company's advanced marine vessel intelligent manufacturing project was completed in December 2023, covering over 30,000 square meters and significantly enhancing production capacity and efficiency[12] Corporate Governance and Financial Management - The company has adjusted the maximum number of participants in its 2022 employee stock ownership plan, which was approved at the 2022 annual shareholders' meeting[13] - The company completed the capital increase for its subsidiary, and as of February 1, 2024, the subsidiary is no longer included in the consolidated financial statements[15] - The company plans to provide a total guarantee of RMB 400 million for its subsidiaries, accounting for 48.87% of the latest audited net assets attributable to shareholders[16] - The proposed guarantee includes RMB 300 million for Aolong Boat and RMB 100 million for Jianglong International, representing 36.65% and 12.22% of the latest audited net assets, respectively[16] - As of the reporting period, the actual guarantee balance for Aolong Boat is RMB 114 million, which is 13.93% of the latest audited net assets[16] - The company intends to apply for a comprehensive credit facility of up to RMB 2 billion from banks to support business expansion[17] Miscellaneous - The company received government subsidies amounting to ¥546,775.70 during the reporting period[3] - The company reported a significant increase in other income, totaling ¥19,530.99, compared to a loss of ¥99,160.62 in the previous period[22] - The company experienced a net loss from credit impairment of ¥6,000,705.15, compared to a gain of ¥398,719.03 in the previous period, reflecting a significant deterioration in credit quality[21] - The company’s first quarter report was not audited[24] - The company did not apply new accounting standards for the first quarter of 2024[24]