Jia Yuan Technology(SH:688388)2024-04-26 08:43Financial Performance - The company's operating revenue for Q1 2024 was ¥929,971,824.42, representing a decrease of 5.48% compared to the same period last year [3]. - The net profit attributable to shareholders was a loss of ¥47,795,282.00, reflecting a significant decline of 229.76% year-over-year [3]. - Basic and diluted earnings per share were both -¥0.11, down 228.33% from the same period last year [4]. - The company reported a significant decline in net profit due to increased operational costs and reduced revenue [3]. - The company's total revenue for Q1 2024 was ¥684,258,298.42, a decrease of approximately 30.3% compared to ¥981,708,582.37 in Q1 2023 [66]. - The net profit for Q1 2024 was a loss of ¥48,181,193.48, compared to a net profit of ¥36,725,685.92 in Q1 2023, indicating a significant decline [66]. - Operating profit for Q1 2024 was reported at a loss of ¥40,286,830.42, contrasting with a profit of ¥46,984,193.85 in the same period last year [66]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥88,097,684.40, marking a decrease of 261.16% compared to the previous year [4]. - The company's cash flow from operating activities showed a net outflow of ¥259,373,528.44 in Q1 2024, compared to a net inflow of ¥132,890,856.76 in Q1 2023 [68]. - Cash and cash equivalents at the end of Q1 2024 amounted to ¥2,182,197,124.28, an increase from ¥1,759,625,766.35 at the end of Q1 2023 [68]. - Cash inflow from financing activities totaled CNY 1,584,498,064.17, significantly higher than CNY 278,060,000.00 in the previous year [36]. - The net cash flow from financing activities was CNY 996,887,538.42, compared to CNY 210,199,164.88 in Q1 2023, indicating a strong increase [36]. Assets and Liabilities - Total assets at the end of the reporting period were ¥12,171,295,267.78, a decrease of 4.92% from the end of the previous year [4]. - Total liabilities decreased to ¥4,953,305,645.88 in Q1 2024 from ¥5,497,267,516.74 in Q1 2023, a reduction of approximately 9.9% [29]. - Non-current liabilities increased to ¥3,419,006,454.37 in Q1 2024, up from ¥2,678,105,011.77 in Q1 2023, an increase of 28.7% [29]. - The company's total assets decreased to CNY 10,981,770,287.91 from CNY 11,626,910,054.67 year-over-year [40]. - The total equity of the company was CNY 7,202,471,614.42, down from CNY 7,271,084,424.43 in the previous year [40]. Research and Development - R&D investment totaled ¥39,094,235.52, which is a decrease of 38.93% year-over-year, accounting for 4.20% of operating revenue [4]. - Research and development expenses were ¥8,607,429.52 in Q1 2024, down from ¥10,195,654.61 in Q1 2023, reflecting a decrease of 15.6% [31]. - Research and development expenses totaled CNY 39,094,200, a decrease of 38.93% compared to the same period last year [47]. Future Outlook - Future outlook includes a focus on market expansion and potential new product development to recover from current losses [3].