Chimin(SH:603222)2024-04-25 08:59Financial Performance - The company's operating revenue for Q1 2024 was RMB 233,537,436.40, representing a year-on-year increase of 4.92%[2] - Net profit attributable to shareholders decreased by 55.92% to RMB 14,866,868.40, primarily due to a reduction in product gross margin and increased market investment[4] - Basic and diluted earnings per share both decreased by 50.00% to RMB 0.03[2] - The company reported total revenue of 233,537,436.40 RMB for Q1 2024, up from 222,593,735.45 RMB in Q1 2023, representing a year-over-year growth of approximately 4.2% [15] - The company reported a total profit of CNY 19,906,503.49 for Q1 2024, a decrease of 57.9% compared to CNY 47,398,148.65 in Q1 2023[16] - The comprehensive income total for Q1 2024 was CNY 16,685,700.84, down 62.4% from CNY 44,344,907.54 in Q1 2023[17] - The total operating costs for Q1 2024 were CNY 217,016,663.75, an increase of 20.1% from CNY 180,569,449.78 in Q1 2023[16] Cash Flow and Liquidity - The net cash flow from operating activities fell by 62.32% to RMB 12,661,154.43, attributed to increased expenses related to other operating activities[4] - The company achieved a net cash inflow from financing activities of CNY 64,894,522.13 in Q1 2024, compared to a net outflow of CNY 88,273,147.99 in Q1 2023[21] - The company’s cash and cash equivalents increased to 375,238,590.46 RMB from 251,183,548.37 RMB as of December 31, 2023, reflecting a significant increase [11] - The cash and cash equivalents at the end of Q1 2024 were CNY 358,957,090.46, an increase from CNY 301,043,420.40 at the end of Q1 2023[21] Assets and Liabilities - Total assets at the end of Q1 2024 were RMB 2,520,847,764.93, a 1.65% increase from the end of the previous year[3] - Total assets as of March 31, 2024, amounted to 2,520,847,764.93 RMB, compared to 2,479,979,435.44 RMB at the end of 2023, showing a slight increase [12] - The total liabilities increased to 854,477,501.50 RMB from 820,131,229.89 RMB, indicating a rise in financial obligations [13] - The company’s short-term borrowings rose significantly to 218,312,461.21 RMB from 125,132,621.67 RMB, indicating increased leverage [12] - The company’s equity attributable to shareholders increased to 1,578,907,622.20 RMB from 1,576,049,228.56 RMB, reflecting a modest growth [13] Shareholder Information - The top ten shareholders held a total of 63.56% of the company's shares, with the largest shareholder, Shuangge Group Co., Ltd., owning 23.82%[6] - As of the end of the reporting period, the company had repurchased a total of 8,364,800 shares, accounting for 1.56% of the total share capital[7] - As of March 31, 2024, the company repurchased a total of 8,364,800 shares, accounting for 1.557% of the total share capital, with a total payment of 69,994,021 RMB (excluding transaction fees) [8] Future Outlook - The company plans to continue focusing on market expansion and product development to improve profitability in the upcoming quarters[4] Research and Development - Research and development expenses for Q1 2024 were CNY 8,023,873.53, an increase of 28.2% from CNY 6,259,247.57 in Q1 2023[16]