CECM(SZ:300385)2024-04-24 11:38Financial Performance - The company's revenue for Q1 2024 was ¥63,554,188.57, a decrease of 78.52% compared to ¥295,923,690.80 in the same period last year[5] - The net profit attributable to shareholders was -¥22,635,131.62, representing a decline of 310.89% from ¥10,733,324.68 in the previous year[5] - The company's basic and diluted earnings per share were both -¥0.0679, a decline of 310.87% from ¥0.0322 in the same period last year[5] - The net profit for Q1 2024 was a loss of CNY 22,792,022.47, compared to a profit of CNY 12,345,258.95 in Q1 2023, marking a shift in profitability[27] - The total operating revenue for Q1 2024 was CNY 63,554,188.57, a significant decrease of 78.5% compared to CNY 295,923,690.80 in the same period last year[25] - The total operating costs for Q1 2024 were CNY 99,916,086.38, down 67.8% from CNY 311,104,371.88 year-over-year[25] Cash Flow and Liquidity - The cash flow from operating activities improved by 59.33%, amounting to -¥35,126,368.09 compared to -¥86,374,346.68 in Q1 2023[11] - The net cash flow from operating activities for the first quarter was -35,126,368.09, an improvement from -86,374,346.68 in the previous period[30] - Total cash inflow from operating activities was 257,848,641.56, down from 272,825,242.21 year-over-year[30] - Cash outflow from operating activities totaled 292,975,009.65, compared to 359,199,588.89 in the previous period[30] - The net cash flow from financing activities increased by 55.35%, amounting to ¥108,927,144.45 compared to ¥70,117,172.99 in the previous year[11] - The net cash flow from financing activities was 108,927,144.45, an increase from 70,117,172.99 year-over-year[31] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,146,756,480.29, a decrease of 3.74% from ¥3,269,108,635.76 at the end of the previous year[5] - The total liabilities decreased to CNY 2,386,010,214.49 from CNY 2,485,570,347.48, a reduction of 4.0%[24] - The company's total current assets decreased from RMB 2,095,245,067.96 to RMB 1,989,926,098.08, a decline of about 5.0%[21] - The company's long-term equity investments decreased from RMB 130,881.84 to RMB 15,865.05, a drop of approximately 87.9%[21] - The company's fixed assets decreased from RMB 545,154,967.99 to RMB 531,664,610.09, a reduction of about 2.5%[21] Investments and Income - The company reported a significant increase in investment income of 191.00%, reaching ¥942,247.39 compared to ¥323,798.73 in Q1 2023[10] - The company received government subsidies totaling ¥942,172.05 during the reporting period[7] Operational Changes - The company adjusted its organizational structure to improve operational efficiency and governance[18] - The company is exploring new strategies for market expansion and product development to recover from the current financial downturn[28] Inventory and Receivables - Accounts receivable decreased from RMB 995,590,944.20 to RMB 824,958,749.57, a reduction of about 17.2%[21] - Inventory increased from RMB 370,972,158.54 to RMB 471,489,032.49, reflecting a growth of approximately 27.1%[21] Legal and Compliance - The total amount of litigation and arbitration cases in the past 12 months reached RMB 83.65 million, accounting for 11.14% of the company's latest audited net assets[18] - The company approved a guarantee for its wholly-owned subsidiaries to secure financing from Bank of China, with a total limit not exceeding RMB 10 million[18] Research and Development - Research and development expenses increased to CNY 8,158,147.64, up from CNY 7,984,482.17, indicating a focus on innovation despite financial losses[26]