苏利股份(603585) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was CNY 485,475,339.84, representing a decrease of 12.06% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of CNY 3,118,389.83, with a diluted earnings per share of CNY -0.02, reflecting a decline of 91.67%[6][10]. - The decline in revenue was attributed to a decrease in sales prices and changes in sales structure, despite stable growth in the sales volume of pesticide and flame retardant products[10]. - The company reported a significant drop in gross margin due to the faster decline in sales prices of key products compared to raw material costs[10]. - Total operating revenue for Q1 2024 was ¥485,475,339.84, a decrease of 12.06% compared to ¥552,072,654.56 in Q1 2023[20]. - Net profit for Q1 2024 was a loss of ¥5,401,308.20, compared to a profit of ¥19,508,324.39 in Q1 2023, representing a significant decline[22]. - Total comprehensive income for Q1 2024 was -¥5,400,315.20, compared to ¥19,424,508.83 in Q1 2023[22]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -94,081,442.32, primarily due to increased material payments and decreased cash receipts from sales[6][10]. - Cash flow from operating activities for Q1 2024 was negative at -¥94,081,442.32, compared to positive cash flow of ¥83,284,707.33 in Q1 2023[24]. - The total cash and cash equivalents at the end of the period decreased to ¥852,949,552.87 from ¥1,698,479,742.74, showing a substantial decline in liquidity[25]. - The cash flow from operating activities was not detailed, but the overall cash and cash equivalents net decrease was -¥250,880,917.54, compared to -¥15,268,039.68 in the previous year[25]. - The net cash flow from investment activities was -¥265,030,327.22, compared to -¥136,745,574.43 in the previous year, indicating a significant increase in cash outflow for investments[25]. - The net cash flow from financing activities was ¥108,347,090.45, up from ¥38,583,717.82 year-over-year, reflecting improved financing conditions[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,575,226,763.71, down 1.99% from the previous year[6]. - The company's current assets totaled CNY 2,270,060,509.01, down from CNY 2,498,010,567.29, indicating a decrease of about 9.12%[15][16]. - Total liabilities decreased to CNY 2,373,416,267.41 from CNY 2,481,286,946.59, a reduction of about 4.4%[17]. - The company's equity attributable to shareholders was CNY 2,477,475,914.98, slightly down from CNY 2,480,594,818.74, indicating a decrease of approximately 0.13%[17]. - Long-term borrowings increased to CNY 267,820,061.98 from CNY 186,230,868.68, representing an increase of about 43.7%[17]. - The company reported a decrease in short-term borrowings to CNY 6,316,055.62 from CNY 5,748,949.69, an increase of approximately 9.9%[17]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,943, with the largest shareholder holding 40% of the shares[12]. Operational Strategy - The company is focusing on improving operational efficiency and exploring new market opportunities to counteract the current financial challenges[10]. - The company has not reported any significant new product developments or market expansion strategies during this quarter[14]. Expenses - Research and development expenses decreased to ¥26,779,713.09 in Q1 2024 from ¥31,373,976.80 in Q1 2023, a reduction of 14.73%[21]. - Sales expenses increased to ¥6,261,415.98 in Q1 2024 from ¥5,309,596.01 in Q1 2023, an increase of 17.93%[21]. - The company reported a decrease in tax expenses to -¥2,647,194.76 in Q1 2024 from ¥7,985,212.46 in Q1 2023[21]. Accounting and Management - The company did not apply new accounting standards or interpretations starting from 2024, maintaining consistency in financial reporting[25]. - The company’s management, led by Miao Jinfeng, continues to focus on financial stability amidst fluctuating cash flows[25].