TGC(SZ:300265)2024-04-25 11:31Financial Performance - The company's revenue for Q1 2024 was ¥455,378,807.05, a decrease of 26.28% compared to ¥617,686,647.41 in the same period last year[5] - Net profit attributable to shareholders was ¥11,052,008.52, down 68.46% from ¥35,036,764.80 year-on-year[9] - The basic earnings per share decreased by 71.43% to ¥0.02 from ¥0.07 in the previous year[5] - The company experienced a 60.12% decline in operating profit, which amounted to ¥15,995,418.09, attributed to reduced sales and lower overall gross margin[8] - Total operating costs for Q1 2024 were CNY 454.26 million, a decrease of 23% from CNY 589.38 million in Q1 2023[22] - Net profit for Q1 2024 was CNY 12.34 million, down 66.5% from CNY 36.76 million in Q1 2023[23] - The total comprehensive income for Q1 2024 was CNY 13.28 million, a decrease from CNY 34.69 million in Q1 2023[23] Cash Flow and Assets - Operating cash flow net amount was -¥72,669,238.75, representing a decline of 27.53% compared to -¥56,983,271.60 in the same period last year[5] - The company's cash and cash equivalents decreased to ¥402,191,902.34 from ¥681,220,060.97, representing a decline of about 41.0%[17] - The company reported a net cash outflow from operating activities of CNY -72.67 million, compared to CNY -56.98 million in the previous year[26] - Cash and cash equivalents at the end of Q1 2024 were CNY 348.47 million, a decrease from CNY 592.32 million at the beginning of the period[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,371,741,322.17, a decrease of 4.04% from ¥3,513,534,623.40 at the end of the previous year[5] - The company's total liabilities increased to ¥1,063,463,962.18 from ¥1,008,700,082.66, reflecting an increase of about 5.4%[19] - The company's total equity decreased to ¥2,308,277,359.99 from ¥2,504,834,540.74, reflecting a decline of about 7.8%[19] Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 29,926[11] - Tongguang Group Limited holds 39.89% of shares, totaling 182,830,000 shares[11] - Zhang Zhong, a natural person, holds 4.53% of shares, totaling 20,766,100 shares, with 13,000,000 shares pledged[11] - The company has a total of 182,830,000 unrestricted shares held by the top 10 shareholders[12] - The top 10 shareholders collectively hold 182,830,000 shares through margin trading accounts[12] - The company has not disclosed any changes in the shareholding structure due to margin trading[12] Investments and Acquisitions - The company completed the acquisition of 100% equity in Sichuan Tongguang Fiber Co., Ltd. for a transaction price of ¥21,900,000, based on an overall valuation of ¥21,985,390[15] - Long-term borrowings surged by 1196.12% to ¥31,601,666.89, primarily due to loans for the acquisition of Sichuan Fiber Optic Co., Ltd.[8] Other Financial Metrics - The company reported a significant increase in prepayments by 180.68%, reaching ¥20,146,116.64 due to advance payments for materials[8] - The company recorded an investment loss of CNY -1.80 million in Q1 2024, compared to a loss of CNY -0.98 million in Q1 2023[22] - Research and development expenses increased to CNY 20.78 million in Q1 2024, up from CNY 19.41 million in Q1 2023[22] - The company reported a significant increase in other payables, which rose to ¥69,165,239.04 from ¥26,628,572.44, marking an increase of approximately 159.5%[19] Future Outlook - The company plans to continue focusing on market expansion and new product development in the upcoming quarters[28]