GZRS(SH:600367)2024-04-25 10:07Financial Performance - The company's operating revenue for Q1 2024 was CNY 492,562,087.27, representing a year-on-year increase of 2.64%[5]. - The net profit attributable to shareholders for the same period was CNY 6,337,306.03, with a basic and diluted earnings per share of CNY 0.020[5][6]. - The net cash flow from operating activities reached CNY 49,949,290.45, showing a significant increase of 515.15% compared to the previous year[6]. - Total revenue for Q1 2024 was CNY 492,562,087.27, an increase of 2.84% compared to CNY 479,883,071.21 in Q1 2023[27]. - Net profit for Q1 2024 was CNY 8,118,656.72, a significant recovery from a net loss of CNY 5,858,042.95 in Q1 2023[28]. - Operating profit improved to CNY 17,279,445.33, compared to a loss of CNY -3,430,697.70 in the previous year[28]. - Basic and diluted earnings per share for Q1 2024 were both CNY 0.02, recovering from a loss of CNY -0.02 in Q1 2023[30]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,147,138,819.19, a decrease of 0.40% from the end of the previous year[6]. - The total assets decreased slightly to CNY 3,147,138,819.19 from CNY 3,159,873,830.22[24]. - Total liabilities decreased to CNY 594,119,820.30 from CNY 617,576,876.86[23]. - Non-current assets total ¥1,297,723,738.67, down from ¥1,315,439,041.99[21]. - The total current assets as of March 31, 2024, are ¥1,849,415,080.52, slightly up from ¥1,844,434,788.23[21]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 44,484[14]. - The largest shareholder, Qingdao Hongxing Chemical Group Co., Ltd., holds 124,225,056 shares, accounting for 36.42% of total shares[14]. - The company reported a slight increase of 0.35% in equity attributable to shareholders, amounting to CNY 2,318,259,304.64[6]. - The company's equity attributable to shareholders increased to CNY 2,318,259,304.64 from CNY 2,310,256,276.01[23]. - The company has no significant changes in the shareholding structure of the top 10 shareholders due to the absence of securities lending activities[16]. Cash Flow and Investments - As of March 31, 2024, cash and cash equivalents amount to ¥965,606,605.09, an increase from ¥939,554,816.84 on December 31, 2023[20]. - In Q1 2024, the cash inflow from operating activities was $397,917,080, a decrease of 1.9% compared to $403,668,986 in Q1 2023[32]. - The net cash flow from operating activities increased significantly to $49,949,290, compared to $8,119,917 in the same period last year, marking a growth of 515.5%[33]. - Cash outflow for purchasing goods and services decreased to $208,424,379.85 from $236,374,654.27, reflecting a reduction of 11.8%[32]. - The net cash flow from investing activities was -$68,563,244.14, an improvement from -$76,936,322.16 in Q1 2023[34]. - Cash inflow from financing activities was $3,717,370, down from $14,643,832 in the previous year[34]. - The net cash flow from financing activities was -$5,277,402.77, compared to a positive $12,442,673.39 in Q1 2023[34]. - The ending cash and cash equivalents balance was $859,453,551.70, up from $380,695,406.43 year-over-year[34]. - The company received tax refunds amounting to $8,246,655.80, an increase from $3,667,368.63 in the previous year[32]. - Total cash outflow for investing activities was $68,574,307.14, a decrease from $76,947,109.66 in Q1 2023[33]. - The company paid $26,763,482.34 in taxes, significantly lower than $48,785,694.12 in the same quarter last year, indicating a reduction of 45%[33]. Operational Highlights - The increase in net profit was primarily driven by higher sales prices of key products such as barium carbonate and electrolytic manganese dioxide, along with a decrease in raw material costs[11]. - The company received government subsidies totaling CNY 1,239,960.08 during the quarter, which contributed to its financial performance[8]. - The company plans to continue expanding its market presence and investing in new technologies and products to enhance growth prospects[11]. - Research and development expenses increased to CNY 11,238,062.91, up 135.00% from CNY 4,768,760.98 in Q1 2023[27]. - The company has completed the liquidation of Qingdao Hongxing Inorganic New Materials Technology Development Co., Ltd., with a total cash balance of ¥4,062,078.56[17]. - The company acquired 1% equity in Hongxing (Xinhang) Fine Chemicals Co., Ltd. from a minority shareholder at a price of ¥0, making it a wholly-owned subsidiary[18].