周大生(002867) - 2024 Q1 - 季度财报

Financial Performance - The company achieved operating revenue of ¥5,070,358,885.54 in Q1 2024, representing a 23.01% increase compared to ¥4,121,905,067.55 in the same period last year[3] - Net profit attributable to shareholders was ¥341,259,179.37, a decrease of 6.61% from ¥365,398,208.83 in the previous year[3] - The total comprehensive income for the first quarter of 2024 was CNY 340,562,092.50, a decrease of 6.6% compared to CNY 364,550,491.40 in the same period last year[24] - Net profit for Q1 2024 was ¥101,744,221.67, a decrease of 6.5% from ¥108,952,687.89 in Q1 2023[23] - The company's equity attributable to shareholders rose to ¥6,722,537,752.38, compared to ¥6,381,299,956.49, representing a growth of 5.3%[22] Revenue and Costs - Total operating costs amounted to ¥4,611,181,053.71, up from ¥3,634,512,455.94, reflecting a year-over-year increase of 26.8%[22] - The gross profit margin decreased to 15.57%, down 2.34 percentage points year-on-year, primarily due to changes in the revenue structure of gold and diamond products[6] - Online (e-commerce) revenue reached ¥5,726,436, a year-on-year increase of 9.84%, with gold product sales growing by 1.14% to ¥397,000,000[6] - The company’s franchise business generated ¥38,299,922, a 24.66% increase year-on-year, with gold product wholesale sales rising by 32.53% to ¥3,489,000,000[6] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of ¥401,696,550.41, a decline of 41.88% compared to ¥691,102,918.85 in the same period last year[3] - Cash inflow from operating activities reached CNY 6,009,484,781.30, an increase of 23.0% compared to CNY 4,885,603,156.15 in the previous year[25] - Cash outflow from operating activities totaled CNY 5,607,788,230.89, up from CNY 4,194,500,237.30, resulting in a net cash flow from operating activities of CNY 401,696,550.41, down 41.9% from CNY 691,102,918.85[26] - The company reported cash inflow from financing activities of CNY 1,650,000,000.00, significantly higher than CNY 600,000,000.00 in the previous year[26] - The net increase in cash and cash equivalents for the quarter was CNY 889,738,877.17, compared to CNY 524,883,265.37 in the previous year[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥9,109,309,733.39, an increase of 13.69% from ¥8,012,438,337.87 at the end of the previous year[3] - The total liabilities of the company reached ¥2,384,075,719.89, an increase of 46.3% from ¥1,627,766,416.87[22] - Inventory levels rose to ¥4,261,521,778.91, up from ¥3,642,751,662.34, indicating an increase of 17% year-over-year[21] - Short-term borrowings increased by 299.88% to ¥800,773,326.47, driven by increased inventory purchases for gold business[11] Shareholder Information - The company held 10,452,372 shares in its repurchase account, accounting for 0.95% of the total share capital[17] - The top shareholder, China Agricultural Bank Co., Ltd. - CSI 500 ETF, increased its holdings to 5,146,975 shares, representing 0.47% of the total share capital[16] - The company reported a total of 5,300,000 shares held by Huaxia Life Insurance Co., Ltd., which is 0.48% of the total share capital[15] - The total number of shares pledged by major shareholders was disclosed in announcements dated January 18, 2024, and March 22, 2024[19] Operational Highlights - The number of stores increased by 492 year-on-year, bringing the total to 5,129 stores, including 4,793 franchise stores and 336 self-operated stores[7] - The embedded product sales revenue decreased by 42.2% to ¥128,000,000, accounting for 2.52% of total revenue[6] - Operating expenses increased by 34.54% to ¥250,143,387.08, mainly due to higher salaries, rental, and promotional expenses[12] Financial Challenges - Financial expenses surged by 1851.99% to ¥11,014,436.75, attributed to increased interest on short-term loans and gold leasing fees[12] - Investment income dropped by 1640.41% to -¥11,825,094.34, mainly due to changes in investment gains from gold leasing business[12] - The company experienced a decrease in net profit attributable to the parent company, with a total of CNY 341,237,795.89 compared to CNY 365,399,385.42 in the same quarter last year[24]