COMEC(SH:600685)2024-04-25 11:41Financial Performance - The company's operating revenue for Q1 2024 reached ¥2,806,869,058.01, representing a year-on-year increase of 47.82%[4] - The net profit attributable to shareholders of the listed company was ¥15,373,901.72, while the net profit after deducting non-recurring gains and losses was ¥25,228,892.06[4] - The company reported a significant increase in other income, which rose by 165.94%, from RMB 8,176,326.72 to RMB 21,744,091.72, reflecting higher input tax credits[12] - The company reported a net profit of ¥26,918,285.68 in Q1 2024, recovering from a loss of ¥62,385,711.36 in Q1 2023[19] - The net profit for Q1 2024 was ¥24,679,465.08, a significant recovery from a net loss of ¥52,149,413.71 in Q1 2023[20] - The total comprehensive income for Q1 2024 reached ¥1,254,806,694.09, compared to ¥128,614,753.30 in the same period last year[20] Cash Flow and Assets - The net cash flow from operating activities was -¥3,403,181,373.38, reflecting a decrease of 1,669.88% compared to the same period last year[4] - The company's cash flow from operating activities showed a net outflow of RMB -3,403,181,373.38, a decrease of 1,669.88% compared to a net inflow of RMB 216,779,439.99 in the previous year[13] - Operating cash flow for Q1 2024 was negative at -¥3,403,181,373.38, a decline from a positive cash flow of ¥216,779,439.99 in Q1 2023[22] - Cash and cash equivalents at the end of Q1 2024 were ¥6,172,662,827.39, down from ¥7,120,245,732.44 at the end of Q1 2023[24] - The net cash flow from investment activities was positive at ¥16,073,973.30 in Q1 2024, compared to a negative cash flow of -¥2,966,179,474.47 in Q1 2023[24] Shareholder and Equity Information - The equity attributable to shareholders of the listed company increased by 7.60% to ¥17,664,653,265.10 compared to the end of the previous year[5] - The company had a total of 67,317 common shareholders at the end of the reporting period, with HKSCC NOMINEES LIMITED holding 41.70% of the shares[9] - The equity attributable to shareholders increased to ¥17,664,653,265.10 from ¥16,417,569,534.93 year-over-year[17] Expenses and Liabilities - The company's financial liabilities increased by 54.34%, from RMB 24,854,342.66 to RMB 38,359,624.62, due to a decline in the fair value of held financial derivatives[12] - The deferred income tax liabilities increased by 44.50%, from RMB 914,322,691.53 to RMB 1,321,199,645.14, influenced by the rise in the fair value of certain stocks[12] - The company's sales expenses surged by 255.71%, from RMB 7,450,936.39 to RMB 26,503,377.37, primarily due to increased warranty provisions[12] - The company incurred operating expenses of ¥6,190,799,911.21 in Q1 2024, significantly higher than ¥2,965,086,847.86 in Q1 2023[22] Research and Development - Research and development expenses rose by 125.18%, from RMB 60,831,504.73 to RMB 136,983,220.26, indicating increased investment in R&D projects[12] - R&D expenses in Q1 2024 amounted to ¥136,983,220.26, which is a 125.5% increase from ¥60,831,504.73 in Q1 2023[19] Overall Financial Position - Total assets at the end of the reporting period amounted to ¥50,839,797,543.37, showing a slight decrease of 0.04% from the previous year[5] - The total current assets decreased from RMB 29,826,609,846.07 to RMB 28,055,507,678.73, reflecting a decline of 5.93%[14] - The total assets decreased from RMB 39,000,000,000 to RMB 38,000,000,000, indicating a reduction of approximately 2.56%[14] - Non-current assets totaled ¥22,784,289,864.64, an increase from ¥21,035,892,161.50 in the previous year[16] - The company's total assets were reported at ¥50,839,797,543.37, slightly down from ¥50,862,502,007.57 in the previous year[17] - Total liabilities decreased to ¥29,911,404,937.04 from ¥31,255,464,283.95 year-over-year[16] Future Outlook - The company plans to continue enhancing production efficiency and expanding its market presence in the upcoming quarters[8]