HECHI CHEMICAL(000953)2024-04-25 14:54Financial Performance - The company reported a revenue of CNY 61,917,759.50 for Q1 2024, representing a 7.11% increase compared to CNY 57,808,350.06 in the same period last year[5] - The net profit attributable to shareholders was a loss of CNY 1,159,982.77, which is an improvement of 26.10% from a loss of CNY 1,569,616.07 in the previous year[5] - Total operating revenue for Q1 2024 was CNY 61,917,759.50, an increase of 7.5% compared to CNY 57,808,350.06 in the same period last year[19] - Net profit for Q1 2024 was a loss of CNY 1,131,334.63, an improvement from a loss of CNY 1,573,833.18 in Q1 2023[20] - Total operating costs for Q1 2024 were CNY 62,984,104.32, up from CNY 58,304,382.79, reflecting an increase of 8.9%[19] - The company incurred financial expenses of CNY 800,214.51, down from CNY 973,773.75 in the previous year[19] Cash Flow and Assets - The company's cash flow from operating activities showed a net outflow of CNY 5,555,649.62, which is a 11.91% increase in outflow compared to CNY 4,964,205.21 in the previous year[5] - The company's cash and cash equivalents decreased by 16.09% to CNY 54,233,226.00, primarily due to payments for raw materials and fixed assets[10] - Cash and cash equivalents at the end of Q1 2024 totaled CNY 54,233,226.00, down from CNY 64,629,673.12 at the beginning of the period[22] - Total assets at the end of the reporting period were CNY 282,653,356.15, reflecting a 0.50% increase from CNY 281,233,757.18 at the end of the previous year[5] - The total current assets increased to 113,976,027.54 RMB from 108,962,094.22 RMB, reflecting a growth of approximately 9.2%[16] - The total liabilities decreased to CNY 200,435,127.46 from CNY 198,330,681.10 year-over-year[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 22,886[12] - Ningbo Yinyi Holdings Co., Ltd. holds 23.76% of shares, amounting to 87,000,000 shares, which are pledged[12] - Guangxi Hechi Chemical Industry Group holds 10.24% of shares, totaling 37,493,589 shares, which are also pledged[12] Inventory and Receivables - Accounts receivable increased by 42.25% to CNY 17,539,145.07, attributed to increased sales and outstanding customer payments[10] - Inventory levels rose by 35.05% to CNY 27,501,141.56, driven by production preparations[10] - Inventory increased to 27,501,141.56 RMB from 20,363,482.19 RMB, representing a rise of about 35.1%[16] Tax and Refunds - The company received tax refunds totaling CNY 807,183.25, which is a 109.43% increase compared to CNY 385,422.91 in the previous year[10] - The company received tax refunds amounting to CNY 807,183.25, compared to CNY 385,422.91 in the same period last year[22] Future Outlook and Strategic Plans - The company plans to transfer a 350,000 tons/year urea production capacity indicator for 94.5 million RMB to Yili Xin Tian Coal Chemical Co., Ltd.[14] - The company is focusing on the research, production, and sales of pharmaceutical intermediates after a major asset restructuring completed in early 2020[14] - The company is currently in discussions for external approval related to the capacity transfer, which carries some uncertainty[14] Accounting and Reporting - The first quarter report for 2024 has not been audited[23] - The company is implementing new accounting standards starting in 2024[23] - The financial statement adjustments related to the new accounting standards will be reflected in the annual report[23] - The report was released by the board of directors on April 24, 2024[23] - The report indicates that this is the first quarter of the new accounting standard implementation[23] - The company has not disclosed any financial results or key performance indicators for the first quarter[23] - Future outlook and performance guidance were not provided in the report[23] - There are no mentions of new products, technologies, market expansion, or mergers and acquisitions in the report[23]