Financial Performance - The company's operating revenue for Q1 2024 was CNY 225,512,280.15, representing a year-on-year increase of 26.48%[5] - Net profit attributable to shareholders decreased by 11.20% to CNY 10,356,052.71[5] - The net profit after deducting non-recurring gains and losses fell by 78.59% to CNY 979,319.74, primarily due to changes in product sales structure and lower gross margins[8] - Basic and diluted earnings per share were both CNY 0.02, down 33.33% compared to the previous year[6] - Total operating revenue for Q1 2024 reached ¥225,512,280.15, a 26.4% increase from ¥178,300,067.19 in Q1 2023[17] - Net profit for Q1 2024 was ¥8,773,627.79, a decrease of 21.5% compared to ¥11,142,519.80 in Q1 2023[18] - The company's basic and diluted earnings per share for Q1 2024 were both ¥0.02, down from ¥0.03 in Q1 2023[19] - The overall financial performance indicates a challenging environment with increased cash outflows across operating, investing, and financing activities[21] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -66,669,052.86, indicating a significant cash outflow[6] - Cash inflow from operating activities totaled ¥213,959,518.92, a decline from ¥259,406,614.65 in the previous year[20] - The net cash flow from operating activities for Q1 2024 was -$66,669,052.86, compared to -$70,511,970.11 in Q1 2023, indicating a slight improvement[21] - The total cash outflow from investing activities was $38,432,865.59, up from $20,115,533.20 in the previous year, resulting in a net cash flow from investing activities of -$34,849,241.97[21] - Cash flow from financing activities showed a net outflow of -$3,785,559.40, compared to -$3,217,679.05 in Q1 2023, reflecting increased cash outflows[21] - The company experienced a net decrease in cash and cash equivalents of -$105,315,994.63 during Q1 2024, compared to -$93,569,905.98 in Q1 2023[21] - The company's cash and cash equivalents decreased to CNY 693,541,642.46 from CNY 777,268,090.10, representing a decline of approximately 10.8%[13] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,578,879,519.39, a slight increase of 0.36% from the end of the previous year[6] - As of March 31, 2024, the company's total assets amounted to CNY 2,578,879,519.39, an increase from CNY 2,569,683,792.72 at the end of December 2023[13] - Accounts receivable increased to CNY 549,308,224.04, compared to CNY 487,049,019.45 in December 2023, indicating a growth of about 12.8%[13] - Inventory rose to CNY 264,974,190.13 from CNY 230,739,885.34, reflecting an increase of approximately 14.8%[14] - Total current liabilities were CNY 517,623,016.97, slightly up from CNY 509,287,018.18, showing a marginal increase of about 2.6%[15] - The company's non-current liabilities decreased to CNY 528,328,387.67 from CNY 537,438,030.72, indicating a reduction of approximately 1.9%[15] - The total equity remained stable at CNY 1,532,928,114.75, with no significant changes reported[15] Research and Development - Research and development expenses totaled CNY 21,099,343.51, accounting for 9.36% of operating revenue, a decrease of 0.72 percentage points[6] - Research and development expenses increased to ¥21,099,343.51, compared to ¥17,974,642.79 in Q1 2023, reflecting a focus on innovation[17] Government Support and Other Income - The company received government subsidies amounting to CNY 11,152,762.87, which positively impacted the financial results[7] - The company reported a financial income of ¥5,711,073.63, significantly higher than ¥1,923,306.62 in the same quarter last year[17] - Other comprehensive income after tax for Q1 2024 was ¥92,666.92, contrasting with a loss of ¥8,421.06 in the same quarter last year[19] Shareholder Information - The total number of common shareholders at the end of the reporting period was 10,202[10] - The company did not report any changes in the participation of major shareholders in margin trading or securities lending activities[12] Strategic Outlook - There were no significant new strategies or product developments mentioned during the earnings call[12] - The company has not disclosed any future guidance or market expansion plans in the current report[12] Accounting Standards - The company did not adopt new accounting standards for the first quarter of 2024[22]
华丰科技(688629) - 2024 Q1 - 季度财报