永和股份(605020) - 2024 Q1 - 季度财报

Financial Performance - Total operating revenue for Q1 2024 reached RMB 1,012,478,044.95, a 7.8% increase from RMB 938,911,957.70 in Q1 2023[27] - Net profit for Q1 2024 was RMB 37,649,652.92, representing a 28.5% increase compared to RMB 29,376,860.05 in Q1 2023[29] - Total profit for Q1 2024 was RMB 52,431,435.08, compared to RMB 41,684,931.76 in Q1 2023, reflecting a 25.5% increase[29] - The net profit attributable to shareholders was approximately CNY 37.22 million, reflecting a significant increase of 27.38% compared to the same period last year[48] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 36.68 million, up by 57.11% year-on-year[48] - The basic earnings per share for the period was CNY 0.10, reflecting a year-on-year increase of 27.27%[48] - Earnings per share for Q1 2024 were RMB 0.10, compared to RMB 0.08 in Q1 2023, indicating a 25% increase[29] Assets and Liabilities - Total assets increased to ¥7,066,065,187.59, up from ¥6,743,889,350.61, representing a growth of approximately 4.78%[22] - Non-current assets totaled ¥5,221,911,264.76, compared to ¥5,008,240,138.43, indicating an increase of about 4.26%[22] - Current liabilities amounted to ¥2,789,859,915.48, slightly up from ¥2,764,753,348.69, reflecting a growth of approximately 0.91%[23] - The total liabilities increased to ¥4,349,337,518.56 from ¥4,101,976,463.89, reflecting a growth of about 6.03%[23] - Long-term borrowings rose to ¥860,168,331.50 from ¥633,201,177.61, marking an increase of around 36%[23] - The total current assets increased to 1,844,153,922.83 RMB from 1,735,649,212.18 RMB, indicating growth in liquidity[45] Cash Flow - Cash flow from operating activities for Q1 2024 was RMB 12,852,611.80, a significant improvement from a negative cash flow of RMB -173,345,339.40 in Q1 2023[33] - The net cash flow from operating activities was CNY 12.85 million, a notable recovery from a negative cash flow of CNY -173.35 million in the same period last year[50] - The net cash flow from investing activities was -310,376,629.62 RMB, compared to -253,811,160.46 RMB in the previous period, indicating a significant increase in cash outflow[35] - The total cash inflow from financing activities was 627,364,414.63 RMB, up from 500,200,000.00 RMB, reflecting a strong financing position[35] Shareholder Information - The top shareholder, Tong Jianguo, holds 46.92% of the shares, indicating a strong control over the company[39] - The company has a total of 15,170 common shareholders, reflecting a broad base of ownership[39] - The company has not reported any significant changes in the participation of major shareholders in margin trading or securities lending activities[40] Operational Insights - The company plans to continue expanding its market presence and investing in new technologies, although specific details were not provided in the report[12] - The company expects continued growth driven by the production of third-generation refrigerants starting in 2024, which is anticipated to positively impact profit margins[50] - The company is subject to new quota management for HFCs starting in 2024, which may impact supply and demand dynamics in the industry[42] Costs and Expenses - Total operating costs for Q1 2024 were RMB 968,158,221.81, up from RMB 900,410,321.11 in Q1 2023, reflecting a 7.5% increase[27] - The company reported a decrease in financial expenses, which were RMB 17,278,773.61 in Q1 2024, down from RMB 20,418,809.54 in Q1 2023[27] - Research and development expenses for Q1 2024 totaled RMB 24,766,542.73, up from RMB 18,070,444.13 in Q1 2023, marking a 37.2% increase[27] Inventory and Receivables - Inventory levels rose significantly to 847,433,077.96 RMB from 677,768,155.48 RMB, suggesting increased stockpiling or production[45] - The company reported a decrease in accounts receivable to 309,238,214.66 RMB from 366,980,744.09 RMB, which may indicate improved collection efforts[45] - The company reported a significant increase in accounts payable, which rose to ¥613,063,681.62 from ¥698,902,472.33, indicating a decrease of approximately 12.25%[22]