MAE(SZ:002009)2024-04-25 13:07Financial Performance - The company's revenue for Q1 2024 was ¥649,545,126.03, a decrease of 13.24% compared to ¥748,660,079.22 in the same period last year[5] - Net profit attributable to shareholders was ¥2,348,217.96, a significant turnaround from a net loss of ¥298,843,871.04 in the previous year, representing a 100.79% increase[5] - Basic earnings per share improved to ¥0.01 from -¥0.81, marking a 101.23% increase[5] - The company experienced a 100.69% increase in total profit, reaching ¥2,100,527.86 compared to a loss of ¥300,033,132.12 in the previous year[9] - The net profit for Q1 2024 was CNY 2,075,257.08, compared to a net loss of CNY 300,589,664.87 in Q1 2023[27] - The net profit attributable to the parent company for Q1 2024 is CNY 2,348,217.96, compared to a net loss of CNY 298,843,871.04 in the same period last year[29] - The total comprehensive income attributable to the parent company is CNY 2,039,649.85, a decrease from a loss of CNY 298,885,304.58 year-over-year[29] - The company reported a significant reduction in selling expenses to CNY 14,003,346.95 from CNY 16,778,221.60, a decrease of 16.54%[27] - Research and development expenses decreased to CNY 27,468,163.87 from CNY 31,971,070.16, a decline of 14.19%[27] Cash Flow and Liquidity - The net cash flow from operating activities was -¥210,594,405.70, a decline of 732.82% from ¥33,278,821.93 in the same period last year[5] - The cash flow from operating activities showed a net outflow of CNY 210.59 million, a significant decrease compared to the previous year's inflow of CNY 33.28 million[11] - The net cash flow from operating activities for Q1 2024 was -210.59 million yuan, primarily due to the timing of cash inflows related to major projects[18] - The net cash and cash equivalents decreased by 208.61% to CNY -192.56 million, primarily due to reduced cash inflow from operating activities[11] - Cash and cash equivalents decreased to CNY 744,493,366.24 from CNY 939,961,205.40, a decline of 20.77%[25] - Cash and cash equivalents at the end of Q1 2024 amount to CNY 477,243,860.88, down from CNY 672,859,670.92 at the end of Q1 2023[32] - The company reported cash inflows from financing activities of CNY 478,080,000.00, compared to CNY 617,127,789.87 in the previous year[32] - The cash outflows from financing activities totaled CNY 430,300,521.68, compared to CNY 566,769,176.45 in the same period last year[32] Assets and Liabilities - Total assets decreased by 2.98% to ¥6,298,200,658.71 from ¥6,491,856,033.98 at the end of the previous year[5] - Total liabilities decreased to CNY 4,113,764,432.16 from CNY 4,308,646,628.09, a reduction of 4.53%[26] - Accounts receivable increased to CNY 894,343,457.39 from CNY 864,496,487.00, an increase of 3.09%[25] - Inventory rose to CNY 778,020,278.22, up from CNY 729,891,247.48, reflecting a growth of 6.54%[25] Business Segments and Operations - The smart equipment segment generated revenue of CNY 361.63 million, accounting for 55.67% of total revenue, with a year-on-year growth of 47.36% and a gross margin of 21.84%, up 11 percentage points[13] - The lithium battery recycling business reported revenue of CNY 107.70 million, representing a year-on-year decline of 59.18%, but the gross margin improved by 25 percentage points to -0.87%[15] - The company has a backlog of orders in the smart equipment segment amounting to CNY 1.263 billion, with new contracts signed in Q1 2024 totaling CNY 312 million, of which 49% are overseas projects[13] - The company is actively expanding its lithium battery recycling channels and has successfully entered a joint venture with Changan Automobile to develop battery reuse business in Southwest China[16] - The company plans to deepen its focus on the domestic new energy vehicle market and expand its overseas market presence, particularly in the automotive manufacturing sector[14] - The company aims to build a robust ecosystem for lithium battery recycling, leveraging diverse strategies such as equity binding and strategic investments[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 59,785[20] - The largest shareholder, Huang Weixing, holds 15.30% of the shares, amounting to 62,389,317 shares, with 34,710,000 shares pledged[20] Corporate Governance and Management - The company established new investment management and seal management systems to enhance operational standards[22] - The company has terminated its restricted stock incentive plan, resulting in a 100% decrease in treasury stock from ¥32,947,155.00[9] - The company terminated the 2021 restricted stock incentive plan and agreed to repurchase and cancel 5.41 million shares of restricted stock for a total repurchase price of 32.21 million yuan[18] - The company recognized a one-time share-based payment expense of 14.01 million yuan, impacting the net profit for the current period[18] - The company’s major projects include collaborations with Chongqing Ideal, Anhui Jianghuai, and NIO, which received prepayments in Q4 2023[18] - The company’s cash inflow was limited in Q1 2024 due to the timing of project progress payments and pre-acceptance payments[18]