GACO(600523)2024-04-25 07:44Financial Performance - The company's operating revenue for Q1 2024 was CNY 544,088,814.65, representing a year-on-year increase of 12.82%[3] - The net profit attributable to shareholders for the same period was CNY 36,726,766.70, up by 10.45% compared to the previous year[3] - The basic earnings per share increased to CNY 0.09, reflecting a rise of 0.01 percentage points[3] - The diluted earnings per share also stood at CNY 0.09, with a similar increase of 0.01 percentage points[3] - The weighted average return on equity was 1.24%, an increase of 0.07 percentage points from the previous year[3] - The net profit for Q1 2024 was CNY 37,849,960.71, an increase of 5.0% compared to CNY 34,159,056.58 in Q1 2023[18] - Operating profit for Q1 2024 reached CNY 45,414,524.54, up from CNY 40,297,707.04 in the same period last year, reflecting a growth of 5.3%[18] - The company reported a total comprehensive income of CNY 37,849,960.71 for Q1 2024, compared to CNY 34,159,056.58 in Q1 2023, indicating a growth of 5.0%[19] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,768,446,654.05, down by 1.73% from the end of the previous year[3] - The company's cash and cash equivalents decreased to CNY 421,741,543.43 as of March 31, 2024, down from CNY 526,964,026.63 at the end of 2023, representing a decline of 20%[11] - Accounts receivable increased to CNY 988,930,143.25, up 4.22% from CNY 948,847,612.15 as of December 31, 2023[11] - Inventory decreased to CNY 381,281,168.79, down 7.91% from CNY 414,078,981.37 at the end of 2023[11] - Total assets as of March 31, 2024, were CNY 3,768,446,654.05, a decrease from CNY 3,834,593,699.09 at the end of 2023[14] - Total liabilities decreased to CNY 725,418,340.14 from CNY 829,792,810.88 at the end of 2023, a reduction of 12.59%[14] - Shareholders' equity increased to CNY 3,043,028,313.91 as of March 31, 2024, compared to CNY 3,004,800,888.21 at the end of 2023, reflecting a growth of 1.26%[14] Cash Flow - The net cash flow from operating activities was negative at CNY -73,418,169.94, which is not applicable for year-on-year comparison[3] - The net cash flow from operating activities for Q1 2024 was negative CNY 73,418,169.94, worsening from negative CNY 11,399,740.13 in Q1 2023[22] - The cash and cash equivalents at the end of Q1 2024 stood at CNY 421,741,543.43, a decrease from CNY 498,163,529.15 at the end of Q1 2023[23] Operating Costs and Expenses - Total operating costs for Q1 2024 were CNY 513,854,071.70, up 14.03% from CNY 450,650,826.21 in Q1 2023[17] - The total operating expenses for Q1 2024 were CNY 56,878,968.84, compared to CNY 54,778,488.56 in Q1 2023, reflecting an increase of 3.8%[18] - The company experienced a foreign exchange loss of CNY 258,780.67 in Q1 2024, compared to a loss of CNY 19,431.87 in Q1 2023[23] Shareholder Information - The top shareholder, China Aviation Automobile System Holding Company, holds 149,623,188 shares, accounting for 37.01% of total shares[7] - The total number of ordinary shareholders at the end of the reporting period was 29,871[7] Strategic Focus - The company is focusing on expanding its market presence and enhancing product development strategies in the upcoming quarters[11] - The company reported non-recurring gains of CNY 10,034,836.03 for the quarter[6] - Research and development expenses increased to CNY 28,523,208.80, compared to CNY 26,037,656.18 in Q1 2023, marking a rise of 9.5%[18] - The total revenue from sales of goods and services in Q1 2024 was CNY 336,623,849.93, down 5.0% from CNY 357,976,247.00 in Q1 2023[21]