GUOTONG PP(SH:600444)2024-04-25 12:25Financial Performance - The company's operating revenue for Q1 2024 was ¥161,991,172.13, representing a year-on-year increase of 25.87%[5] - The net profit attributable to shareholders for the same period was ¥9,954,898.67, reflecting a growth of 2.49% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥9,504,579.64, which is an increase of 22.28% year-on-year[5] - The basic earnings per share for Q1 2024 was ¥0.068, up by 3.03% from the same period last year[5] - Total operating revenue for Q1 2024 reached ¥161,991,172.13, a 25.8% increase from ¥128,697,490.99 in Q1 2023[21] - Net profit for Q1 2024 was ¥9,954,898.67, a slight increase of 2.5% compared to ¥9,713,108.01 in Q1 2023[22] Cash Flow and Assets - The net cash flow from operating activities was -¥76,509,720.69, showing a significant decline of 178.31% compared to the previous year[5] - Cash received from sales and services in Q1 2024 amounted to ¥178,488,357.07, compared to ¥136,596,751.07 in Q1 2023, reflecting a 30.6% increase[24] - The total assets at the end of the reporting period were ¥1,216,906,310.70, a decrease of 3.6% from the end of the previous year[6] - Current assets totaled RMB 1,105,609,492.64, down from RMB 1,149,382,804.51, indicating a decrease of about 3.8%[15] - Cash and cash equivalents decreased to RMB 363,197,620.38 from RMB 439,099,066.69, representing a decline of approximately 17.3%[15] - The ending balance of cash and cash equivalents stood at $107,065,245.33, slightly down from $107,497,087.78 in the prior period[25] Liabilities and Equity - Total liabilities as of Q1 2024 were ¥524,420,947.94, a decrease from ¥580,260,992.64 in the previous year[21] - The equity attributable to shareholders at the end of the reporting period was ¥692,485,362.76, which is an increase of 1.52% compared to the end of the previous year[6] - Current liabilities decreased to RMB 507,609,002.48 from RMB 565,163,142.21, reflecting a reduction of about 10.2%[16] - The company reported a significant reduction in accounts payable from RMB 148,015,716.75 to RMB 54,566,175.30, a decrease of approximately 63.2%[16] - Total equity attributable to shareholders increased to ¥692,485,362.76 in Q1 2024 from ¥682,097,921.85 in Q1 2023[21] Operational Changes and Strategies - The company plans to optimize and gradually exit the plastic pipe business to enhance operational efficiency[13] - A merger of the wholly-owned subsidiary Hefei General Environmental Control Technology Co., Ltd. is planned to streamline management and reduce costs[13] - The company aims to improve overall operational efficiency through restructuring and resource optimization[13] Non-Recurring Items and Other Financial Metrics - The company reported non-recurring gains of ¥450,319.03 for the period, after accounting for tax effects[8] - Deferred income for Q1 2024 was ¥4,946,868.99, significantly higher than ¥1,777,363.25 in Q1 2023[21] - The company recorded a credit impairment loss of ¥706,222.75 in Q1 2024, compared to a loss of ¥43,764.95 in Q1 2023[21] Management and Reporting - The company did not adopt new accounting standards or interpretations for the current financial year[25] - The total cash inflow from financing activities was not specified, indicating a potential area for further disclosure in future reports[25] - The company’s management team includes Wu Shun Yong as the responsible person, Xu Xuzhong as the accounting supervisor, and Yuan Xiaoming as the head of the accounting institution[25]