BIOLIGHT(SZ:300246)2024-04-24 10:48Revenue and Profit - Revenue for Q1 2024 was CNY 266.86 million, a decrease of 22.55% compared to CNY 344.57 million in the same period last year[5] - Net profit attributable to shareholders was CNY 3.63 million, down 86.65% from CNY 27.16 million year-on-year[5] - The company reported a significant decrease in operating profit, which fell by 85.47% to CNY 5.23 million from CNY 36.00 million year-on-year[9] - The total profit decreased by 84.11% to CNY 5.10 million compared to CNY 32.09 million in the same period last year[9] - Basic and diluted earnings per share were CNY 0.0137, a decline of 91.13% from CNY 0.1545 in the same period last year[5] - Net profit for Q1 2024 was ¥4,430,173.89, a decline of 84.4% from ¥28,305,836.21 in Q1 2023[22] - The company reported a total comprehensive income of ¥3,974,456.23 for Q1 2024, compared to ¥28,710,677.12 in Q1 2023[22] Cash Flow - The net cash flow from operating activities improved by 61.38%, reaching -CNY 24.71 million compared to -CNY 63.98 million in the previous year[5] - The net cash flow from operating activities decreased by 39,272,475.45, a reduction of 61.38% compared to the previous period, primarily due to decreased procurement payments[10] - The cash received from investment recoveries was 66,900,000.00, marking a 100.00% increase, attributed to the recovery of principal from financial products[10] - The cash flow from investment activities totaled 74,391,457.29, an increase of 247,871.52%, mainly due to the recovery of principal from financial products[10] - The net cash flow from financing activities increased by 54,307,615.87, a rise of 122.56%, primarily due to increased bank loan repayments[10] - The company reported a cash increase of CNY 86,453,209.03 in Q1 2024, compared to CNY 32,130,753.01 in Q1 2023, marking a significant rise of approximately 169.9%[25] Assets and Liabilities - Total assets increased by 1.61% to CNY 2.58 billion from CNY 2.53 billion at the end of the previous year[5] - The company reported a total asset of CNY 2,575,176,425.17 as of March 31, 2024, an increase from CNY 2,534,398,019.03 at the beginning of the period, reflecting a growth of approximately 1.6%[17] - The total liabilities amounted to CNY 1,189,312,347.03, up from CNY 1,145,452,995.95, indicating an increase of approximately 3.8%[19] - The company’s long-term borrowings increased by 63.96% to CNY 144.84 million, reflecting increased bank loans during the reporting period[9] - The company’s long-term borrowings increased to CNY 144,840,000.00 from CNY 88,340,000.00, showing a significant rise of approximately 63.8%[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,648[12] - The largest shareholder, Yan Jinyuan, holds 26.72% of the shares, totaling 70,705,185 shares, with 7,980,000 shares pledged[13] - The company has repurchased a total of 1,073,550 shares, accounting for 0.4058% of the total share capital, with a total expenditure of between CNY 20 million and CNY 30 million planned for the buyback[16] - The company plans to implement an employee stock ownership plan or equity incentive through the repurchased shares[16] Expenses - Sales expenses decreased by 30.38% to CNY 34.35 million, attributed to improved efficiency in the sales department[9] - Research and development expenses decreased to ¥18,430,075.31, down 25.7% from ¥24,786,031.00 in the previous year[21] Legal Matters - The company is actively monitoring a patent infringement lawsuit with Shenzhen Mindray Bio-Medical Electronics Co., Ltd., and will take necessary measures to protect its rights[15] Accounting Standards - The company did not undergo an audit for the Q1 2024 report[26] - The company has adopted new accounting standards starting from 2024, impacting the financial statements[26]