AFR(SZ:300620)2024-04-23 10:57Revenue and Profitability - The company's revenue for Q1 2024 was ¥160,224,261.89, representing a 3.38% increase compared to ¥154,989,138.00 in the same period last year[4] - Net profit attributable to shareholders decreased by 58.10% to ¥6,494,860.44 from ¥15,499,678.21 year-on-year[4] - The company’s basic earnings per share decreased by 57.86% to ¥0.0260 from ¥0.0617 in the same period last year[4] - Net profit for the quarter was ¥6,494,860.44, down from ¥15,499,678.21, showing a decline of about 58%[46] - The company reported a total comprehensive income of -¥4,318,823.24, compared to ¥14,671,874.47 in the same period last year[49] Cash Flow - The net cash flow from operating activities surged by 1,623.93% to ¥114,788,343.70, compared to ¥6,658,510.13 in the previous year[4] - The net cash flow from operating activities increased by 1623.93% to approximately ¥114.79 million compared to the same period last year, primarily due to increased cash received from sales and government subsidies[25] - Cash inflow from operating activities was ¥257,700,656.72, compared to ¥171,252,131.65 in the prior year, marking an increase of approximately 50.6%[50] - The net cash flow from investing activities decreased by 463.35% to approximately -¥111.31 million, mainly due to the payment for the acquisition of equity in Bai'an Industrial and a decrease in the redemption amount of bank financial products[25] - Cash inflow from financing activities totaled $291,466,352.76, with a net cash flow of $288,344,710.51 after accounting for cash outflows, demonstrating robust financing efforts[53] - The ending cash and cash equivalents balance increased to $448,905,553.38, up from $157,410,145.47 at the beginning of the period, showing strong liquidity position[53] - The company reported a significant increase in cash and cash equivalents net increase of $291,495,407.91, compared to $34,669,999.62 in the previous period[53] Assets and Liabilities - Total assets increased by 25.92% to ¥2,519,384,093.39 from ¥2,000,722,200.07 at the end of the previous year[4] - Total liabilities amounted to RMB 614,030,856.84, up from RMB 297,383,129.94, indicating a significant increase in financial obligations[41] - The company’s equity attributable to shareholders rose by 10.04% to ¥1,874,424,971.68 from ¥1,703,339,070.13 at the end of the previous year[4] - The company reported a non-current asset total of RMB 1,217,256,634.73, up from RMB 1,016,176,057.55, indicating a growth of about 19.7%[35] Investments and Acquisitions - The company reported a significant increase in goodwill by 111.50% to ¥232,351,529.89 due to the acquisition of a subsidiary[7] - The company recorded a 42.32% increase in intangible assets, amounting to ¥158,458,528.20, primarily due to the acquisition of a subsidiary[7] - The company acquired 52% equity in Shanghai Bai'an Industrial Co., Ltd. for RMB 156 million, completing the transfer registration on April 3, 2024, making it a subsidiary[30] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 44,553, with the top 10 shareholders holding a combined 54.87%[27] - The largest shareholder, Zhuhai Huafa Technology Industry Group Co., Ltd., holds 23.41% of the shares, totaling approximately 58,482,396 shares[27] - The company issued 4,488,778 restricted shares in 2023, which are subject to specific release conditions[21] - The total number of restricted shares at the end of the period was 7,309,310, with 4,513,274 shares added during the period[21] - The company issued 4,488,778 shares of common stock to 5 specific investors, approved by the China Securities Regulatory Commission, with the shares listed on March 26, 2024[28] Expenses and Financial Performance - Total operating costs rose to ¥161,587,898.10 from ¥150,444,601.73, indicating an increase of about 7.6%[43] - Research and development expenses were ¥31,477,996.82, slightly up from ¥30,318,423.85, reflecting a year-over-year increase of approximately 3.8%[46] - The company experienced a tax expense of -¥2,178,301.52, compared to -¥1,191,014.42 in the previous year, indicating an increase in tax burden[46] - Sales expenses decreased slightly to ¥2,817,107.25 from ¥2,860,417.08, a reduction of about 1.5%[46] Other Financial Metrics - The company reported a total of ¥3,539,698.21 in non-recurring gains and losses for the period[5] - Deferred income increased to RMB 124,090,584.64 from RMB 82,900,015.03, showing a growth of approximately 49.5%[41] - The impact of exchange rate changes on cash and cash equivalents was -$325,736.22, which is a factor to consider in cash management[53] - The first quarter report for 2024 was not audited, which is important for stakeholders assessing the reliability of the financial data presented[56]