FJR(SH:688272)2024-04-24 08:54Financial Performance - The company's operating revenue for Q1 2024 reached ¥76,374,116.71, representing a year-on-year increase of 147.11%[5] - Net profit attributable to shareholders was ¥7,361,176.28, with a significant increase in gross profit due to the completion of existing orders[9] - Total operating revenue for Q1 2024 reached ¥76,374,116.71, a significant increase of 146.7% compared to ¥30,906,365.17 in Q1 2023[20] - Net profit for Q1 2024 was ¥7,361,176.28, a turnaround from a net loss of ¥19,130,116.53 in Q1 2023[21] - Basic earnings per share for Q1 2024 were ¥0.10, recovering from a loss of ¥0.25 per share in Q1 2023[22] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥29,138,911.54, indicating a decrease in cash inflow compared to the same period last year[6] - Operating cash flow for Q1 2024 showed a net outflow of ¥29,138,911.54, worsening from a net outflow of ¥11,298,293.25 in Q1 2023[24] - The net cash flow from investing activities was -$15,509,249.48, compared to -$8,980,212.41 in the previous period, indicating a significant increase in cash outflow for investments[25] - Cash inflow from financing activities amounted to $6,000,000.00 from borrowings, down from $19,949,000.00 in the previous period, reflecting a decrease in financing received[25] - The cash flow from operating activities was not detailed, but the overall cash and cash equivalents net decrease was -$41,806,506.33, compared to -$36,541,014.13 previously, suggesting ongoing liquidity challenges[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥692,163,948.69, reflecting a 3.35% increase from the end of the previous year[6] - The company reported a total liability of ¥192,969,358.27 as of Q1 2024, compared to ¥178,938,193.24 in the previous year[18] - The total current liabilities increased to RMB 183,140,553.41 from RMB 166,847,613.99, reflecting a growth of about 9.7%[17] - The company’s total assets reached ¥692,163,948.69 in Q1 2024, compared to ¥669,727,745.53 in Q1 2023[18] Shareholder Information - The company had a total of 2,461 common shareholders at the end of the reporting period[10] - The top shareholder, Ningbo Ruiji Fu Technology Partnership, held 19.31% of the shares, totaling 14,672,272 shares[11] Research and Development - Research and development expenses totaled ¥15,660,473.37, accounting for 20.50% of operating revenue, which is a decrease of 33.17 percentage points year-on-year[6] - Research and development expenses for Q1 2024 were ¥15,660,473.31, slightly down from ¥16,587,867.03 in Q1 2023[21] Market and Competition - Intense market competition may lead to continued price declines for products, impacting overall gross and net margins if operational strategies are not adjusted[14] - The company aims to enhance service quality, technology, sales models, and talent development to maintain competitiveness and expand business scale[14] Risks and Challenges - The company faces risks of potential delisting due to negative net profit and revenue below RMB 100 million, but plans to apply for the removal of the delisting warning[13] - The report highlights the importance of monitoring cash flow trends as the company navigates its financial strategy in a challenging market environment[25] Other Financial Metrics - The weighted average return on net assets was 1.49% for the reporting period[6] - The company reported non-recurring gains of ¥136,118.90 for the period[8] - The company recorded a decrease in sales revenue from services received, totaling ¥22,979,324.95 in Q1 2024, down from ¥63,891,562.00 in Q1 2023[24] - The company reported a significant increase in other non-current assets to RMB 19,050,251.57 from RMB 7,605,451.96, a growth of approximately 150.9%[17] - The company's cash and cash equivalents decreased to RMB 196,519,765.54 from RMB 238,862,751.73, representing a decline of about 17.7%[16] - Accounts receivable increased significantly to RMB 199,496,339.36 from RMB 146,212,552.89, marking an increase of approximately 36.4%[16] - The company's inventory decreased slightly to RMB 166,658,003.35 from RMB 170,363,725.78, a reduction of about 2.0%[16] - Short-term borrowings rose to RMB 51,035,847.21 from RMB 45,049,102.78, indicating an increase of approximately 13.3%[17] - The total equity attributable to shareholders increased to ¥499,194,590.42 in Q1 2024 from ¥490,789,552.29 in Q1 2023[18]