Avic Hi-Tech(SH:600862)2024-04-25 12:25Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,317,318,462.93, representing a year-on-year increase of 5.22%[4] - The net profit attributable to shareholders for Q1 2024 was CNY 351,024,378.20, reflecting a growth of 4.95% compared to the same period last year[4] - The basic earnings per share for Q1 2024 was CNY 0.252, which is a 5.00% increase from the previous year[5] - The net profit for Q1 2024 was CNY 354,000,329.38, an increase of 6.5% compared to CNY 331,540,483.53 in Q1 2023[20] - The total comprehensive income for Q1 2024 was CNY 354,000,329.38, compared to CNY 331,540,483.53 in Q1 2023, indicating a year-over-year increase of 6.5%[20] Cash Flow - The net cash flow from operating activities reached CNY 245,094,355.89, marking a significant increase of 23.92% year-on-year[4] - The net cash flow from operating activities increased to CNY 245,094,355.89, compared to CNY 197,792,060.28 in Q1 2023, reflecting a growth of 23.8%[22] - The cash outflow from investing activities was CNY 417,894,665.90, compared to CNY 27,760,963.46 in Q1 2023, indicating a significant increase in investment expenditures[22] - The net cash flow from financing activities was -CNY 3,039,266.18, worsening from -CNY 2,452,044.21 in Q1 2023[23] Assets and Liabilities - Total assets at the end of Q1 2024 amounted to CNY 9,517,354,567.59, up 10.07% from the end of the previous year[5] - Current assets totaled ¥7,199,929,686.69 as of March 31, 2024, compared to ¥6,295,699,276.98 at the end of 2023, indicating a growth of 14.4%[15] - Total liabilities increased to ¥2,716,836,772.62 from ¥2,200,820,819.22, reflecting a growth of 23.4%[16] - Shareholders' equity rose to ¥6,800,517,794.97 from ¥6,445,735,821.69, indicating an increase of 5.5%[17] Revenue Breakdown - The revenue from the aviation new materials business was CNY 130,530.91 million, a 5.05% increase year-on-year, driven by increased product deliveries[5] - The equipment business reported a revenue of CNY 368.11 million, down 46.88% year-on-year, primarily due to a decrease in machine tool business[5] - The total revenue from operating activities was CNY 681,504,436.91, down 14.4% from CNY 796,304,860.59 in the same period last year[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 68,210[9] - The largest shareholder, China Aviation Industry Group, holds 583,151,381 shares, accounting for 41.86% of the total shares[9] Operational Highlights - The company reported a non-operating loss of CNY 56,338.59 million, mainly due to the impact of minority interests from a subsidiary[7] - The company has completed the business registration work for the manufacturing of resin-based composite materials for aviation engine fan blades and casings[12] Changes in Financial Metrics - The weighted average return on equity for Q1 2024 was 5.30%, a decrease of 0.46 percentage points compared to the previous year[5] - Accounts receivable decreased by RMB 445.83 million compared to the beginning of the year, mainly due to the collection of matured notes from the subsidiary Aviation Industry Composite Materials[8] - Accounts payable increased by RMB 444.30 million compared to the beginning of the year, primarily due to increased procurement of materials by the subsidiary Aviation Industry Composite Materials[8] - Tax payable increased by RMB 69.77 million compared to the beginning of the year, mainly due to the increase in VAT and income tax of the subsidiary Aviation Industry Composite Materials[8] - Financial expenses decreased by RMB 25.40 million compared to the same period last year, mainly due to an increase in interest income of the parent company[8] - Other income decreased by RMB 59.89 million compared to the same period last year, primarily due to the absence of incremental contribution awards received by the subsidiary Aviation Industry Composite Materials in the previous period[8] - Investment income decreased by RMB 18.20 million compared to the same period last year, mainly due to reduced investment income from associated companies Hongtu Innovation Investment and Hongtu Innovation Management[8]