芯能科技(603105) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 159,207,236.40, representing a 25.01% increase compared to CNY 127,352,218.72 in the same period last year[4] - Net profit attributable to shareholders increased by 3.32% to CNY 31,209,693.01 from CNY 30,075,853.78 year-on-year[4] - Total operating revenue for Q1 2024 reached ¥159,207,236.40, a 25.0% increase from ¥127,352,218.72 in Q1 2023[19] - Net profit for Q1 2024 was ¥31,209,693.01, representing a 3.3% increase compared to ¥30,206,538.27 in Q1 2023[20] - The company reported a gross profit margin of approximately 20.0% for Q1 2024, compared to 26.6% in Q1 2023[19] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 29.89% to CNY 26,598,307.87, down from CNY 37,938,582.67 in the previous year[4] - Operating cash flow for Q1 2024 was ¥26,598,307.87, down 29.9% from ¥37,938,582.67 in Q1 2023[21] - The company's cash and cash equivalents decreased to RMB 607,943,293.28 from RMB 684,835,596.31, reflecting a decline of approximately 11.2%[14] - The total cash and cash equivalents at the end of Q1 2024 were $560.86 million, down from $629.31 million at the beginning of the quarter, reflecting a decrease of about 10.7%[22] - The net increase in cash and cash equivalents for Q1 2024 was -$68.45 million, contrasting with a positive increase of $62.57 million in Q1 2023[22] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 4,335,209,861.15, a decrease of 0.35% from CNY 4,350,571,856.99 at the end of the previous year[5] - The company's total equity increased to ¥2,102,458,435.43, up from ¥2,071,248,742.42 in the previous year[16] - The total liabilities decreased to ¥2,232,751,425.72 from ¥2,279,323,114.57 year-over-year[16] - The company's total current liabilities decreased to RMB 1,000,000,000.00 from RMB 1,200,000,000.00, reflecting a reduction of 16.7%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 39,995[11] - The top shareholder, Haining Zhengda Knitting Co., Ltd., holds 13.98% of the shares, totaling 69,920,000 shares[11] Investment Activities - In Q1 2024, the company reported a net cash outflow from investing activities of -$95.13 million, compared to -$109.10 million in Q1 2023, indicating an improvement of approximately 12.5%[22] - The company invested $98.56 million in fixed assets, intangible assets, and other long-term assets in Q1 2024, down from $129.86 million in Q1 2023, representing a decrease of about 24.1%[22] - Cash paid for other investment-related activities was $25.22 million in Q1 2024, compared to $35.34 million in Q1 2023, indicating a reduction of approximately 28.7%[22] Financial Expenses and Debt - The company issued CNY 880 million of convertible bonds in October 2023, leading to increased financial expenses due to a higher effective interest rate of 6.62%[5] - Short-term borrowings rose to RMB 207,673,593.75 from RMB 160,319,809.70, marking an increase of about 29.5%[15] - Cash outflows for debt repayment in Q1 2024 amounted to $102.13 million, which is an increase of approximately 24.1% from $82.33 million in Q1 2023[22] Government Support - The company received government subsidies amounting to CNY 1,763,987.00, primarily from local price subsidies for distributed photovoltaic power generation projects[8] Operational Insights - The gross profit margin from the photovoltaic EPC business was relatively low, impacting the net profit growth despite increased revenue[5] - The company plans to continue expanding its market presence and investing in new technologies in the upcoming quarters[19] - There are no applicable reminders for investors regarding the company's operational situation during the reporting period[13] - The company has not reported any significant changes in its major shareholders or their participation in financing activities[12] Employee Compensation - The company reported a significant decrease in employee compensation payable, which fell to RMB 4,242,676.70 from RMB 18,878,116.42, a decline of about 77.5%[15]