望变电气(603191) - 2024 Q1 - 季度财报

Revenue and Profit Performance - Revenue for the first quarter of 2024 was RMB 527.28 million, a decrease of 7.76% year-over-year[3] - Operating revenue for Q1 2024 was 527,277,666.15 RMB, down from 571,650,584.29 RMB in Q1 2023[16] - Revenue for the first quarter of 2024 was 524,118,246.72 RMB, down from 568,050,956.13 RMB in the first quarter of 2023[28] - Net profit attributable to shareholders of the listed company was RMB 23.74 million, a significant decrease of 70.46% year-over-year[3] - Net profit for Q1 2024 was RMB 23.74 million, a significant decrease from RMB 79.63 million in Q1 2023[17] - Net profit for the first quarter of 2024 was 23,436,503.15 RMB, a significant decrease from 80,917,481.98 RMB in the same period last year[28] - Net profit attributable to parent company shareholders was 1,015,984,946.94 RMB, up from 992,249,846.86 RMB[14] - Total comprehensive income for Q1 2024 was RMB 23.74 million, a decrease from RMB 79.63 million in Q1 2023[18] Cash Flow and Liquidity - The company's operating cash flow was negative RMB 134.36 million, an increase of 101.14% compared to the same period last year[3] - Operating cash flow was negative RMB 134.36 million in Q1 2024, compared to negative RMB 66.80 million in Q1 2023[21] - Net cash flow from operating activities in Q1 2024 was -120.43 million, a significant decrease compared to -53.02 million in Q1 2023[32] - Investment cash flow was negative RMB 631.84 million in Q1 2024, a significant increase from negative RMB 67.25 million in Q1 2023[22] - Net cash flow from investing activities in Q1 2024 was -638.46 million, a substantial decline from -72.21 million in Q1 2023[32] - Financing cash flow was positive RMB 410.97 million in Q1 2024, up from RMB 178.89 million in Q1 2023[22] - Net cash flow from financing activities in Q1 2024 was 423.84 million, more than double the 174.24 million in Q1 2023[32] - Cash and cash equivalents decreased to 987,061,093.01 RMB from 1,373,135,140.58 RMB[12] - Cash and cash equivalents decreased by RMB 354.35 million in Q1 2024, compared to an increase of RMB 44.80 million in Q1 2023[22] - The company's cash and cash equivalents balance at the end of Q1 2024 was RMB 872.29 million, down from RMB 1.23 billion at the beginning of the quarter[22] - Total cash and cash equivalents at the end of Q1 2024 decreased to 856.87 million from 1.19 billion at the beginning of the quarter[32] - Cash and cash equivalents decreased to 971,638,183.45 RMB from 1,337,532,723.36 RMB[24] Assets and Liabilities - Total assets increased by 8.43% to RMB 5.29 billion compared to the end of the previous year[4] - Total assets increased to 5,286,236,928.20 RMB, up from 4,875,241,927.16 RMB in the previous period[12][14] - Total assets increased to 5,213,668,670.73 RMB, up from 4,788,585,607.50 RMB in the previous year[25] - Total liabilities rose to 2,869,359,568.22 RMB, compared to 2,484,433,470.22 RMB in the prior period[13][14] - Total liabilities rose to 2,786,848,698.36 RMB, compared to 2,387,154,934.69 RMB in the previous year[26] - Shareholders' equity grew to 2,416,877,359.98 RMB, up from 2,390,808,456.94 RMB[14] Borrowings and Financial Expenses - Short-term borrowings decreased by 64.99% due to the repayment of loans[5] - Long-term borrowings increased by 72.49% due to the acquisition of "Yunbian Electric"[6] - Long-term loans increased to 1,147,288,312.31 RMB from 665,117,590.59 RMB[13] - Long-term borrowings increased significantly to 1,125,159,357.46 RMB, up from 642,571,693.43 RMB[26] - Financial expenses increased by 138.12% due to higher interest income and exchange gains[6] Investments and Acquisitions - The company acquired "Yunbian Electric" during the quarter, leading to a 654.91% increase in other non-current assets[5] - Long-term equity investments increased to 676,503,397.72 RMB, up from 116,143,380.47 RMB in the previous year[25] - Investment income decreased by 46.40% due to lower profits from affiliated enterprises[6] - Cash paid for investments in Q1 2024 surged to 559.82 million, up from 40.00 million in Q1 2023[32] Operating Costs and Expenses - Operating costs for Q1 2024 were 511,125,860.01 RMB, up from 472,783,309.94 RMB in Q1 2023[16] - R&D expenses increased to RMB 7.60 million in Q1 2024, up from RMB 6.78 million in Q1 2023[17] - Research and development expenses increased to 7,594,000.67 RMB, up from 6,236,273.13 RMB[28] - Cash paid for goods and services in Q1 2024 increased to 439.62 million, up from 356.59 million in Q1 2023[31] Accounts Receivable and Inventory - Accounts receivable increased to 991,915,354.40 RMB from 966,782,160.45 RMB[12] - Accounts receivable increased to 934,568,832.15 RMB, up from 906,875,544.90 RMB[24] - Inventory rose to 583,860,403.37 RMB, up from 509,071,438.50 RMB[12] - Inventory rose to 534,594,306.26 RMB, compared to 470,020,980.72 RMB in the previous year[25] Earnings Per Share and Shareholder Equity - The company's basic and diluted earnings per share were RMB 0.07, a decrease of 70.83% year-over-year[6] - Basic earnings per share (EPS) for Q1 2024 was RMB 0.07, down from RMB 0.24 in Q1 2023[18] - Shareholders' equity grew to 2,416,877,359.98 RMB, up from 2,390,808,456.94 RMB[14] Sales and Cash Receipts - Sales revenue from goods and services was RMB 406.09 million in Q1 2024, slightly down from RMB 411.21 million in Q1 2023[21] - Cash received from sales of goods and services in Q1 2024 was 391.77 million, slightly down from 399.67 million in Q1 2023[31] - Cash received from financing activities in Q1 2024 was 587.34 million, a significant increase from 176.21 million in Q1 2023[32]