SAFETY(SH:603028)2024-04-25 13:47Financial Performance - The company's operating revenue for Q1 2024 was ¥279,831,387.82, representing a decrease of 15.15% compared to the same period last year[5] - The net profit attributable to shareholders was -¥6,069,400.20, a decline of 207.86% year-on-year[5] - The net cash flow from operating activities was -¥47,557,089.73, reflecting a significant decrease of 299.46%[5] - Basic and diluted earnings per share were both -¥0.02, marking a 200.00% decline compared to the previous year[5] - Total revenue for Q1 2024 was CNY 279,831,387.82, a decrease of 15.1% compared to CNY 329,781,821.24 in Q1 2023[20] - Net loss for Q1 2024 was CNY 19,587,843.59, compared to a net profit of CNY 12,188,957.35 in Q1 2023[21] - Basic earnings per share for Q1 2024 was -CNY 0.02, down from CNY 0.02 in Q1 2023[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,436,029,342.07, an increase of 3.59% from the end of the previous year[6] - The company's total assets increased to CNY 2,436,029,342.07 in Q1 2024 from CNY 2,351,564,446.58 in Q1 2023[17] - Total liabilities rose to CNY 1,549,111,730.60 in Q1 2024, up from CNY 1,445,121,708.25 in Q1 2023[17] - The equity attributable to shareholders decreased to ¥728,252,722.64, down 0.82% from the previous year-end[6] - The company's total equity decreased to CNY 886,917,611.47 in Q1 2024 from CNY 906,442,738.33 in Q1 2023[17] Cash Flow - The net cash flow from operating activities was -47,557,089.73, compared to -11,905,469.25 in the previous year, indicating a decline in operational performance[27] - Total cash inflow from operating activities amounted to 271,968,121.21, while cash outflow was 319,525,210.94, resulting in a net cash outflow of -47,557,089.73[27] - Cash inflow from investment activities was 104,496.88, while cash outflow reached 271,068,662.76, leading to a net cash flow of -270,964,165.88[28] - The company received cash from borrowings totaling 399,939,070.44, an increase from 214,670,000.00 in the previous year, reflecting a strong financing activity[28] - The net cash flow from financing activities was 313,073,647.42, compared to 166,916,589.31 in the previous year, indicating improved financing conditions[28] - The ending balance of cash and cash equivalents was 106,161,845.37, down from 182,237,528.80 in the previous year[28] Operational Insights - The decline in net profit was primarily due to lower sales volume and prices of photovoltaic cells, impacted by market conditions[8] - The company is focusing on improving cash flow management and procurement payment arrangements to mitigate financial pressures[8] - The company reported no significant changes in shareholder structure or major shareholder participation in margin trading[12] - The company has not disclosed any new product developments or technological advancements during this reporting period[13] - There are no significant operational changes or strategic shifts noted in the quarterly report[13] - The company has not provided specific guidance for future performance or market expansion plans in this report[13] Expenses - Total operating costs for Q1 2024 were CNY 311,653,561.19, slightly down from CNY 316,102,022.32 in Q1 2023[20] - Research and development expenses increased to CNY 10,144,414.34 in Q1 2024, compared to CNY 5,727,567.33 in Q1 2023[21] - Sales expenses increased significantly to CNY 4,011,710.05 in Q1 2024, compared to CNY 1,910,577.52 in Q1 2023[21] Cash Management - The company paid 57,480,000.00 in debt repayments, a decrease from 91,417,500.00 in the previous year, suggesting a reduction in debt servicing[28] - Cash received from other financing activities was 7,737,460.30, compared to 6,827,792.45 in the previous year, showing a slight increase[28] - The company reported a total cash outflow of 94,602,883.32 from financing activities, which was similar to the previous year's outflow of 94,821,203.14[28] - The impact of exchange rate changes on cash and cash equivalents was 187,104.78, contrasting with -502,391.99 in the previous year, indicating a positive effect from currency fluctuations[28]