BHAS(SH:600960)2024-04-25 11:21Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,156,910,899.09, representing a decrease of 4.89% compared to the same period last year[5]. - The net profit attributable to shareholders of the listed company was a loss of CNY 45,230,033.74, with a basic and diluted earnings per share of -0.0476 yuan[5]. - The net profit for Q1 2024 was -43,928,255.72 RMB, compared to a net profit of 509,364.30 RMB in Q1 2023, indicating a significant decline in profitability[29]. - The company incurred a loss of -42,489,314.12 RMB in operating profit for Q1 2024, contrasting with a profit of 2,947,703.78 RMB in Q1 2023[28]. - The basic and diluted earnings per share for Q1 2024 were both -0.0476 RMB, compared to -0.0013 RMB in Q1 2023, indicating a deterioration in earnings performance[29]. - Total operating costs for Q1 2024 were 1,178,079,191.17 RMB, slightly down from 1,195,112,442.74 RMB in Q1 2023, reflecting a decrease of approximately 1.4%[28]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 36.99% to CNY 46,480,873.29[5]. - The company reported a net cash flow from operating activities of 46,480,873.29 RMB in Q1 2024, up from 33,930,429.41 RMB in Q1 2023, showing an increase of approximately 37%[32]. - Cash and cash equivalents as of March 31, 2024, were CNY 771,703,328.59, down from CNY 812,877,564.82 as of December 31, 2023[24]. - Cash and cash equivalents at the end of Q1 2024 were 726,953,345.02 RMB, compared to 704,194,812.94 RMB at the end of Q1 2023, indicating a slight increase[33]. - Investment activities generated a net cash flow of 8,637,827.58 RMB in Q1 2024, a recovery from a negative cash flow of -32,350,255.76 RMB in Q1 2023[33]. Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 7,808,816,291.17, up 2.90% from the end of the previous year[6]. - Total assets as of March 31, 2024, amounted to CNY 7,808,816,291.17, compared to CNY 7,588,819,725.52 at the end of 2023, reflecting a growth of 2.9%[26]. - Total liabilities increased to CNY 3,160,832,715.05 from CNY 3,082,623,357.17, marking a rise of 2.5%[26]. - Shareholders' equity as of March 31, 2024, was CNY 4,647,983,576.12, up from CNY 4,506,196,368.35, showing an increase of 3.1%[26]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 44,619[12]. - The top ten shareholders held a combined 69.31% of the shares, with Beijing Hainachuan Automotive Parts Co., Ltd. holding 23.04%[13]. Legal Matters - The company is pursuing legal action to recover RMB 10.4 million from Yaoyang Trading Co., with a court ruling in favor of the company on May 8, 2023[19]. - The company is involved in litigation against Zhenfa Company for approximately RMB 6.7 million worth of goods and molds, with the case formally accepted by the court on July 24, 2023[20]. - The company has initiated legal action against Huaren Yuntong for unpaid debts totaling CNY 19,488,148.66 due to their suspension of operations[21]. - The company’s subsidiary, Binzhou Lightweight, is facing potential risks of uncollectible receivables due to Huaren Yuntong's inability to fulfill contractual obligations[21]. - The company is currently awaiting court arrangements for multiple legal cases, including the appeal against the Danyang court ruling[21]. Revenue and Market Performance - Revenue from the U.S. wheel export by subsidiary Tai'an Qicheng decreased by 45% due to ongoing trade tensions and low market demand[6]. - The company's total revenue from sales of goods and services in Q1 2024 was 1,066,532,082.13 RMB, compared to 1,021,674,926.17 RMB in Q1 2023, reflecting a growth of approximately 4.4%[32]. - Total revenue for Q1 2024 was CNY 1,156,910,899.09, a decrease of 4.7% compared to CNY 1,216,434,704.56 in Q1 2023[27]. Expenses and Costs - Research and development expenses increased to 24,230,066.62 RMB in Q1 2024 from 22,117,413.37 RMB in Q1 2023, representing a growth of about 9.5%[28]. - The net profit loss in Q1 2024 was primarily due to high supply chain costs and operational expenses at the German subsidiary BTAH, exacerbated by the depreciation of the RMB against the Euro by approximately 4.1%[6].