Financial Performance - Total operating revenue for Q1 2024 was CNY 619,358,847.22, a decrease of 56.36% compared to CNY 1,418,654,555.14 in the same period last year[6] - Net profit for Q1 2024 was CNY 50,642,603.28, a decline of 77.15% compared to CNY 221,679,436.26 in Q1 2023[8] - Earnings per share for Q1 2024 was CNY 0.09, compared to CNY 0.44 in the same quarter last year[11] - The total comprehensive income for Q1 2024 was CNY 50,979,129.78, significantly lower than CNY 222,082,099.48 in Q1 2023[11] - Net profit attributable to shareholders for Q1 2024 was ¥52,033,709.00, down 76.69% from ¥223,215,634.42 in the previous year[24] - The net cash flow from operating activities was ¥80,875,988.23, a decline of 75.94% compared to ¥336,100,319.24 in Q1 2023[24] - Basic earnings per share for Q1 2024 were ¥0.09, down 79.55% from ¥0.44 in the same period last year[24] - The company's operating revenue decreased by 56.34% compared to the same period last year, primarily due to multiple factors including international geopolitical situations and a weak recovery in the global chemical industry[33] - The net profit for the period decreased by 77.16% year-on-year, mainly attributed to the decline in revenue[34] - The cash flow from operating activities decreased by 75.94% compared to the same period last year, primarily due to the drop in operating revenue[35] Costs and Expenses - Total operating costs for Q1 2024 were CNY 540,221,329.94, down 54.43% from CNY 1,184,748,605.89 year-on-year[6] - Research and development expenses for Q1 2024 were CNY 21,387,680.72, down 49.40% from CNY 42,275,339.65 in Q1 2023[8] - Financial expenses decreased by 407.06% year-on-year, mainly due to the appreciation of the US dollar and increased interest income from time deposits[33] - The company reported a government subsidy of ¥567,942.65 during the quarter[25] Assets and Liabilities - Total liabilities decreased to CNY 820,340,596.74 from CNY 919,022,185.07, reflecting a reduction of 10.76%[5] - The company’s total assets amounted to CNY 5,537,126,059.26, slightly down from CNY 5,581,938,346.00[5] - Total assets decreased from 5,581,938,346.00 to 5,537,126,059.26, a decline of approximately 0.8%[43] - Current assets slightly decreased from 4,872,059,126.33 to 4,839,945,709.03, a reduction of about 0.7%[43] - Non-current assets decreased from 709,879,219.67 to 697,180,350.23, representing a decline of approximately 1.2%[43] - Other receivables increased by 30.99% compared to the beginning of the year, mainly due to an increase in export tax rebates[29] - Other current liabilities increased by 38.23% compared to the beginning of the year, mainly due to an increase in customer advance payments and corresponding taxes[29] Cash Flow - The net cash flow from investing activities was -¥33,219,921.10, an improvement from -¥42,907,626.44 in Q1 2023[16] - The net cash flow from financing activities was -¥4,705,010.23, compared to -¥4,378,757.05 in the same period last year[16] Equity - Total equity attributable to shareholders of the parent company increased to CNY 4,718,088,629.11 from CNY 4,662,844,409.26, an increase of 1.19%[5] - The weighted average return on equity for Q1 2024 was 1.11%, down from 8.46% in the previous year[24] Other Financial Metrics - The company reported a financial loss of CNY 19,561,238.78 from investments, compared to a loss of CNY 1,576,927.62 in the previous year[8] - The fair value changes in financial assets decreased by 127.17% year-on-year, mainly due to increased losses from the fair value changes of unsettled forward foreign exchange contracts and options[30] - The company's derivative financial assets decreased by 99.57% compared to the beginning of the year, primarily due to the impact of exchange rate fluctuations on the value of forward foreign exchange and option contracts[29] - Accounts payable decreased from 332,094,245.36 to 249,261,538.20, a significant reduction of about 25%[43] - Contract liabilities increased from 120,133,388.91 to 149,825,624.24, an increase of approximately 24.8%[43] - Deferred tax assets decreased from 28,370,326.17 to 25,409,005.70, a decline of about 10.5%[43] - Employee compensation payable decreased from 151,776,202.28 to 126,361,802.12, a reduction of approximately 16.7%[43] - Derivative financial liabilities decreased from 6,033,800.00 to 5,544,500.00, a decline of about 8.1%[43] - Other payables increased from 94,453,345.45 to 101,141,180.20, an increase of approximately 7.1%[43] - Inventory decreased from 970,715,930.82 to 890,793,694.46, a decline of about 8.2%[43]
中集环科(301559) - 2024 Q1 - 季度财报