万向德农(600371) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 93,525,228.84, representing a year-on-year increase of 9.46%[4] - The net profit attributable to shareholders was CNY 34,578,742.51, showing a slight increase of 0.15% compared to the same period last year[4] - Net profit for Q1 2024 was CNY 38,046,792.08, slightly down from CNY 38,397,175.53 in Q1 2023, representing a decrease of 0.9%[19] - In Q1 2024, the company reported a net profit of ¥3,366,296.34, a significant increase from a net loss of ¥294,777.27 in Q1 2023, marking a turnaround in performance[30] - Operating profit for Q1 2024 was ¥3,366,296.34, compared to an operating loss of ¥294,777.27 in the same period last year[30] Cash Flow - The net cash flow from operating activities decreased significantly by 325.93%, amounting to -CNY 55,070,953.62, primarily due to a reduction in advance payments for seeds[6] - Cash flow from operating activities for Q1 2024 was negative at -55,070,953.62 RMB, compared to -12,929,688.85 RMB in Q1 2023, indicating a significant decline in operational cash flow[22] - The company achieved a net cash flow from operating activities of ¥3,336,596.75 in Q1 2024, recovering from a negative cash flow of ¥269,451.85 in Q1 2023[34] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 898,094,129.85, down 4.24% from the end of the previous year[5] - The company's total assets decreased to CNY 898,094,129.85 in Q1 2024 from CNY 937,875,209.93 in Q1 2023, a decline of 4.2%[14] - Total liabilities decreased to CNY 225,658,085.98 in Q1 2024 from CNY 303,485,958.13 in Q1 2023, a reduction of 25.7%[14] - The total liabilities as of March 31, 2024, were 932,126.47 RMB, down from 991,787.96 RMB at the end of 2023[27] Shareholder Information - The equity attributable to shareholders increased by 5.96% to CNY 614,306,645.05 compared to the end of the previous year[5] - The total number of ordinary shareholders at the end of the reporting period was 35,939[8] - The largest shareholder, Wanxiang San Nong Group Co., Ltd., holds 48.76% of the shares, totaling 142,650,135 shares[9] Earnings and Expenses - Basic earnings per share for the quarter were CNY 0.12, unchanged from the previous year[4] - Basic and diluted earnings per share remained stable at CNY 0.118 in both Q1 2024 and Q1 2023[19] - R&D expenses increased to CNY 2,199,994.48 in Q1 2024 from CNY 1,691,015.00 in Q1 2023, marking a growth of 30.0%[18] - The company reported a financial expense of CNY -6,141,484.61 in Q1 2024, compared to CNY -1,288,527.24 in Q1 2023, indicating a significant increase in financial costs[18] - The financial expenses for Q1 2024 were reported at -¥3,793,898.45, a notable increase from -¥2,356.16 in Q1 2023, indicating higher interest costs[30] Government Support - The company received government subsidies amounting to CNY 512,959.05, which are expected to have a continuous impact on profits[6] - The company received tax refunds of ¥85,173.12 in Q1 2024, compared to ¥11,065.15 in Q1 2023, reflecting improved cash flow management[34] Investment Performance - Investment income for Q1 2024 was CNY 15,600,000.00, down from CNY 20,150,000.00 in Q1 2023, a decrease of 22.5%[18] - The company recorded investment income of ¥72,000,000.00 in Q1 2024, up from ¥45,000,000.00 in Q1 2023, indicating strong investment performance[34]