SPC(SH:600688)2024-04-24 11:02Financial Performance - The company's operating revenue for Q1 2024 was CNY 21,282,263, representing a decrease of 3.17% compared to the same period last year[4] - Total operating revenue for Q1 2024 was CNY 21,282,263, a decrease of 3.16% from CNY 21,978,009 in Q1 2023[18] - Total operating costs for Q1 2024 were CNY 21,153,044, down 4.44% from CNY 22,139,134 in Q1 2023[18] - Net profit for Q1 2024 was CNY 85,195, compared to a net loss of CNY 162,346 in Q1 2023, indicating a significant turnaround[20] - The total comprehensive income for the first quarter of 2024 was CNY 85,195 million, a decrease from CNY -162,346 million in the same period of 2023[21] - The company reported a basic and diluted earnings per share of CNY 0.008, recovering from CNY -0.015 in the previous year[21] Cash Flow - The net cash flow from operating activities was negative at CNY -718,251, indicating a cash outflow[4] - The net cash flow from operating activities was CNY -718,251 million, compared to CNY -29,479 million in Q1 2023, indicating a decline in operational cash flow[22] - Cash inflow from sales of goods and services was CNY 22,426,062 million, down from CNY 24,882,513 million year-over-year[22] - The company experienced a decrease in cash inflow from operating activities, totaling CNY 22,537,847 million, down from CNY 24,974,608 million year-over-year[22] - The company’s total cash outflow from operating activities was CNY 23,256,098 million, a decrease from CNY 25,004,087 million in the previous year[22] - Cash flow from investing activities showed a net outflow of CNY -259,552 million, an improvement from CNY -386,507 million in Q1 2023[23] - Cash flow from financing activities generated a net inflow of CNY 1,416,191 million, down from CNY 3,464,658 million in the same quarter last year[23] - The company raised CNY 12,500,000 million from borrowings, an increase from CNY 10,518,000 million in Q1 2023[23] - The ending cash and cash equivalents balance was CNY 5,344,773 million, compared to CNY 3,953,405 million at the end of Q1 2023[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 39,544,994, a decrease of 0.29% from the end of the previous year[4] - Total assets as of March 31, 2024, were CNY 39,544,994, slightly down from CNY 39,658,244 at the end of 2023[17] - Total liabilities decreased to CNY 14,560,818 from CNY 14,715,337 at the end of 2023[17] - The company reported a decrease in inventory to CNY 7,099,189 from CNY 7,751,687 at the end of 2023, reflecting improved inventory management[16] - The company’s short-term borrowings increased to CNY 4,500,000 from CNY 3,000,000 at the end of 2023, indicating a potential increase in leverage[17] Shareholder Information - The net profit attributable to shareholders was CNY 84,061, while the net profit after deducting non-recurring gains and losses was CNY 98,108[4] - The total number of ordinary shareholders at the end of the reporting period was 93,561[9] Other Financial Metrics - The weighted average return on equity increased by 0.96 percentage points to 0.338%[4] - The company’s cash and cash equivalents increased by 54.29% due to an increase in time deposits maturing within one year[6] - Accounts receivable financing rose by 73.81%, attributed to a significant increase in third-party receivables in the trading segment[6] - Other receivables increased by 43.51%, mainly due to an increase in the refund of consumption tax on naphtha[6] - The company received government subsidies amounting to CNY 3,340 during the reporting period, contributing to a 74.01% increase in other income[8] - The company’s gross profit margin improved, with gross profit for Q1 2024 at CNY 5,542,791, compared to CNY 3,365,864 in Q1 2023[20] - The company’s R&D expenses for Q1 2024 were CNY 35,083, compared to CNY 30,776 in Q1 2023, indicating a focus on innovation[20]