Canaan(SZ:300412)2024-04-26 07:54Revenue and Profitability - Revenue for Q1 2024 was CNY 218,746,520.01, an increase of 9.54% compared to CNY 199,699,286.27 in the same period last year[3] - Net profit attributable to shareholders was a loss of CNY 5,987,478.11, a decrease of 172.85% from a profit of CNY 8,219,096.97 in the previous year[3] - The net profit for the current period was a loss of ¥9,014,292.30, compared to a profit of ¥6,162,715.32 in the previous period, indicating a significant decline[22] - The total comprehensive income for the current period was a loss of ¥9,014,292.30, compared to a profit of ¥6,162,715.32 in the previous period, indicating a substantial decline[22] - The basic earnings per share for the current period was -0.01, compared to 0.02 in the previous period, reflecting a negative shift[23] Cash Flow and Financial Position - Net cash flow from operating activities decreased by CNY 82,149,625.11, down 145.37% compared to CNY -33,479,624.14 in the same period last year[3] - Cash flow from operating activities showed a net outflow of ¥82,149,625.11, worsening from a net outflow of ¥33,479,624.14 in the previous period[25] - The company's cash and cash equivalents decreased to CNY 230,906,156.49 from CNY 295,125,324.59, representing a decline of about 21.8%[17] - Cash and cash equivalents at the end of the period totaled ¥107,104,540.10, down from ¥202,116,081.26, indicating a decrease of approximately 47%[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,549,802,979.79, a decrease of 1.85% from CNY 2,597,903,543.28 at the end of the previous year[3] - The company's total liabilities decreased to CNY 1,509,705,178.58 from CNY 1,541,931,449.79, reflecting a decline of about 2.1%[19] - Total current liabilities decreased to CNY 1,303,959,344.49 from CNY 1,338,384,281.52, a decrease of approximately 2.6%[18] - The total equity attributable to shareholders decreased to CNY 1,009,692,706.36 from CNY 1,015,680,184.47, a decrease of approximately 0.7%[19] Expenses and Financial Management - The company reported a significant increase in financial expenses, which rose by 596.58% to CNY 287,010.00 due to higher interest expenses[7] - The company reported a significant increase in financial expenses, which rose to ¥3,351,178.63 from ¥481,091.95, marking an increase of over 600%[21] - Total operating costs increased to ¥230,505,235.10 from ¥198,382,700.24, representing a rise of about 16.2%[21] - Research and development expenses were ¥18,856,693.84, slightly down from ¥19,521,806.32, showing a decrease of about 3.4%[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 28,173[9] Government Support and Certification - The company received government subsidies amounting to CNY 614,995.89 during the reporting period[4] - The company received high-tech enterprise certification for its subsidiaries, indicating a focus on innovation and technology development[13] Corporate Developments - The company is in the process of restructuring its subsidiary Shanghai Kaixian Fluid Technology Co., Ltd. and applying for listing on the New Third Board, which may enhance its market presence[15] - The company has completed the registration change and obtained a new business license, indicating ongoing operational adjustments[14] Reporting and Standards - The first quarter report has not been audited[27] - The new accounting standards will be implemented starting in 2024[27] - The board meeting was held on April 25, 2024[28]