Yongan Futures(SH:600927)2024-04-25 10:51Financial Performance - The company's operating revenue for Q1 2024 was CNY 4,338,090,650.68, representing a decrease of 19.12% compared to the same period last year[4]. - Net profit attributable to shareholders was CNY 77,963,439.71, down 62.58% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 73,020,484.30, a decline of 63.65% compared to the previous year[4]. - Basic earnings per share were CNY 0.05, reflecting a decrease of 64.29% year-on-year[4]. - Total operating revenue for Q1 2024 was approximately ¥4.34 billion, a decrease of 19.1% from ¥5.36 billion in Q1 2023[15]. - Net profit for Q1 2024 was ¥77.96 million, a decrease of 62.7% from ¥208.37 million in Q1 2023[15]. - Basic earnings per share for Q1 2024 were ¥0.05, down from ¥0.14 in Q1 2023[16]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 57,342,648,034.16, down 18.57% from the end of the previous year[5]. - As of March 31, 2024, total assets decreased to RMB 57.34 billion from RMB 70.42 billion at the end of December 2023, representing a decline of approximately 18.5%[13]. - Cash and cash equivalents amounted to RMB 23.14 billion, down from RMB 36.20 billion, indicating a decrease of about 36.1%[13]. - The company's short-term borrowings decreased to RMB 659.57 million from RMB 881.87 million, a reduction of approximately 25.1%[14]. - Total liabilities decreased to RMB 44.87 billion from RMB 58.02 billion, reflecting a decline of around 22.7%[14]. - The accounts receivable decreased to RMB 158.66 million from RMB 168.68 million, a decline of approximately 5.9%[13]. - The company's total equity increased slightly to RMB 12.47 billion from RMB 12.39 billion, showing a growth of about 0.6%[14]. Cash Flow - The net cash flow from operating activities was negative at CNY -11,619,362,277.80, indicating increased cash payments related to operating activities[4]. - Cash flow from operating activities showed a net outflow of approximately ¥11.62 billion, compared to a net outflow of ¥4.99 billion in the same period last year[18]. - Cash flow from investing activities resulted in a net outflow of ¥2.12 million, an improvement from a net outflow of ¥13.48 million in Q1 2023[18]. - Cash flow from financing activities also showed a net outflow of ¥209.19 million, compared to a net outflow of ¥366.68 million in the previous year[18]. - Cash and cash equivalents at the beginning of the period were ¥24,073,171,532.54, down from ¥29,853,958,332.90[19]. - Cash and cash equivalents at the end of the period were ¥12,241,585,391.53, a decrease from ¥24,460,886,074.02[19]. Operational Highlights - The decline in net profit was primarily due to fluctuations in the securities market affecting financial product and equity investment returns, as well as adjustments in exchange policies[8]. - The company reported non-recurring gains of CNY 4,942,955.41, after accounting for tax impacts[7]. - Net commission and fee income decreased to ¥111.90 million, down 28.5% from ¥156.58 million in the same period last year[15]. - Net interest income fell to ¥128.13 million, a decline of 25.2% compared to ¥171.27 million in Q1 2023[15]. - Investment income decreased significantly to ¥139.29 million, down 47.4% from ¥264.31 million in the previous year[15]. - Total operating expenses for Q1 2024 were ¥4.25 billion, a reduction of 16.8% from ¥5.11 billion in Q1 2023[15]. Inventory and Receivables - The inventory increased significantly to RMB 2.39 billion from RMB 1.14 billion, representing an increase of about 108.5%[13]. - The company’s other receivables increased to RMB 1.24 billion from RMB 1.06 billion, reflecting an increase of about 17.2%[13]. - The company reported a decrease in trading financial liabilities to RMB 808.23 million from RMB 1.17 billion, a reduction of approximately 30.8%[14]. - The company's capital reserve increased to RMB 3.86 billion from RMB 3.86 billion, showing a marginal increase of approximately 0.01%[14]. Accounting Standards - The company has not adopted new accounting standards or interpretations for the first quarter of 2024[19].