JOEONE(SH:601566)2024-04-25 11:28Financial Performance - The company's operating revenue for Q1 2024 was CNY 939,844,189.71, representing a year-on-year increase of 21.70%[6] - The net profit attributable to shareholders for the same period was CNY 108,181,204.69, reflecting an increase of 11.28% compared to the previous year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 199,091,479.39, which is a significant increase of 95.43% year-on-year[6] - Total revenue for the first quarter of 2024 was RMB 933.13 million, reflecting a year-on-year increase of 22.13%[19] - The net profit for Q1 2024 was approximately ¥110.32 million, an increase of 11.4% compared to ¥99.26 million in Q1 2023[44] - The total comprehensive income for Q1 2024 reached ¥111.34 million, up from ¥87.16 million in the same period last year, reflecting a growth of 27.7%[44] - The net profit for Q1 2024 was ¥130,027,912.54, a significant increase of 418.5% from ¥25,030,502.39 in Q1 2023[53] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 38.06% to CNY 105,620,424.95 compared to the previous year[6] - Cash and cash equivalents increased to CNY 1,271,821,867.64 as of March 31, 2024, up from CNY 1,066,082,300.45 at the end of 2023, a rise of 19.3%[40] - The net cash flow from operating activities decreased to ¥105.62 million in Q1 2024 from ¥170.52 million in Q1 2023, a decline of 38.1%[46] - The cash inflow from investment activities in Q1 2024 was ¥1.58 billion, significantly higher than ¥808.10 million in Q1 2023, an increase of 95.7%[47] - The net cash flow from financing activities decreased to ¥19.78 million in Q1 2024 from ¥51.28 million in Q1 2023, a decline of 61.5%[47] - The company experienced a net increase in cash and cash equivalents of ¥136.75 million in Q1 2024, compared to ¥236.05 million in Q1 2023, a decrease of 42.1%[47] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 5,713,627,016.03, down 1.25% from the end of the previous year[7] - The company's total assets decreased to ¥5,843,828,071.41 as of March 31, 2024, down from ¥6,072,343,537.35 at the end of 2023[51] - Total liabilities decreased to CNY 1,717,204,832.23 as of March 31, 2024, down from CNY 1,901,499,519.41 at the end of 2023, a decline of 9.7%[41] - The total liabilities decreased to ¥1,693,525,187.15 from ¥2,052,068,565.63, reflecting a reduction of about 17.4%[51] Equity and Shareholder Information - The equity attributable to shareholders increased by 2.80% to CNY 4,030,981,503.57 compared to the end of the previous year[7] - The company’s total equity increased to ¥4,150,302,884.26 from ¥4,020,274,971.72, reflecting a growth of approximately 3.2%[52] - The top shareholder, Jiumuwang International Investment Holdings, holds 53.73% of the shares, totaling 308,768,140 shares[22] Operational Metrics - The company's basic earnings per share for Q1 2024 was CNY 0.19, an increase of 11.76% year-on-year[6] - The gross profit margin for the overall business was 65.50%, with a year-on-year increase of 4.30%[13] - The gross margin for direct stores was 68.85%, while franchise stores had a gross margin of 62.92%[14] - The East China region accounted for 39.34% of total revenue, with a year-on-year growth of 25.23%[19] - The company operated 2,364 stores as of March 31, 2024, with a total area of 373,097 square meters[20] Investment Activities - The company has made substantial investments, including RMB 21.9 million in a new equity investment and RMB 30 million in an increase of capital for another investment management firm[28] - The company has invested 14,220.02 million RMB in bank wealth management products, with an outstanding balance of 2,272.75 million RMB[33] - The company has a total of 234,489.77 million RMB in financial assets, with a net fair value loss of 10,499.73 million RMB[33] - The company has plans for future entrusted wealth management, indicating ongoing investment strategies[34] Legal Matters - The company reported a significant legal matter involving its wholly-owned subsidiary, with a court ruling requiring a payment of RMB 55 million plus additional fees[24] - The company is currently involved in litigation regarding rental agreements, with claims totaling RMB 6.69 million and counterclaims of RMB 16.57 million[25]