Financial Performance - Revenue for Q1 2024 was CNY 107.19 million, a decrease of 45.91% compared to CNY 198.16 million in the same period last year[5] - Net profit attributable to shareholders was CNY 22.26 million, down 55.72% from CNY 50.27 million year-on-year[5] - Basic and diluted earnings per share decreased by 67.11% to CNY 0.25 from CNY 0.76 in the previous year[5] - The net profit for Q1 2024 was CNY 22,262,677.29, down from CNY 50,274,830.86 in Q1 2023, indicating a decline of about 55.8%[23] - The basic and diluted earnings per share for Q1 2024 were both CNY 0.25, compared to CNY 0.76 in Q1 2023, reflecting a decrease of approximately 67.1%[23] Cash Flow and Liquidity - Net cash flow from operating activities fell by 82.48% to CNY 8.05 million, primarily due to reduced sales revenue[11] - The company reported a significant decrease in cash flow from operations, impacting liquidity and operational flexibility[20] - Cash flow from operating activities for Q1 2024 was CNY 8,050,825.73, significantly lower than CNY 45,960,293.50 in Q1 2023, a decline of about 82.5%[25] - The net cash flow from investing activities for Q1 2024 was CNY -12,016,415.93, compared to CNY -4,073,205.63 in Q1 2023, indicating a worsening of investment cash flow[25] - The net cash flow from financing activities for Q1 2024 was CNY -21,401,539.66, contrasting with a positive cash flow of CNY 1,682,216.66 in Q1 2023, showing a significant shift in financing[25] Operating Costs and Expenses - Operating costs decreased by 44.70% year-on-year, aligning with the drop in sales revenue[10] - The total operating costs for Q1 2024 were CNY 83,048,926.42, a decrease from CNY 142,081,946.37 in Q1 2023, representing a reduction of approximately 41.5%[22] - Research and development expenses increased by 30.72% compared to the previous year, reflecting higher investment in R&D projects[14] - Research and development expenses increased to CNY 5,312,545.39 in Q1 2024 from CNY 4,064,068.96 in Q1 2023, marking an increase of approximately 30.6%[22] - The company incurred a financial expense of CNY -5,863,967.11 in Q1 2024, a significant change from CNY 834,149.81 in Q1 2023[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1.62 billion, a decrease of 3.34% from CNY 1.67 billion at the end of the previous year[5] - The total current assets decreased from CNY 1,297,816,246.34 at the beginning of the period to CNY 1,239,014,221.01 at the end of the period, reflecting a decline of approximately 4.5%[18] - The total liabilities amounted to CNY 135,308,592.00, with current liabilities totaling CNY 59,000,000.00[19] - The total assets decreased from CNY 1,673,599,805.32 to CNY 1,617,752,856.56, a decline of approximately 3.3%[19] - The equity attributable to shareholders of the parent company was CNY 1,538,291,263.40, reflecting a stable position compared to previous periods[19] Sales Performance - The total operating revenue for Q1 2024 was CNY 107,192,243.34, a decrease of 46.0% compared to CNY 198,158,313.35 in the same period last year[21] - The total revenue from sales of goods and services received in Q1 2024 was CNY 95,681,299.90, compared to CNY 149,881,992.09 in Q1 2023, a decrease of about 36.2%[24] - Accounts receivable decreased from CNY 48,589,022.77 to CNY 42,408,551.31, a reduction of approximately 12.5%[18] - Inventory decreased from CNY 116,952,180.40 to CNY 108,047,351.58, representing a decline of about 7.6%[18] Strategic Focus - The company is focusing on enhancing its product development and market expansion strategies to recover from the revenue decline[18]
兴欣新材(001358) - 2024 Q1 - 季度财报