BYIS(SH:600581)2024-04-26 07:51Financial Performance - The company's operating revenue for Q1 2024 was CNY 3,490,035,219.09, representing a decrease of 12.94% compared to the same period last year[5] - The net profit attributable to shareholders of the listed company was a loss of CNY 411,807,941.08, with a basic and diluted earnings per share of -0.267 yuan[5] - Operating revenue for the first quarter of 2024 was CNY 3,490,035,219.09, a decrease from CNY 4,008,911,509.48 in the first quarter of 2023[21] - The net loss for the first quarter of 2024 was CNY -3,566,108,699.48, worsening from CNY -3,154,300,758.40 in the first quarter of 2023[18] - The net loss for Q1 2024 was approximately ¥413.41 million, compared to a net loss of ¥470.31 million in Q1 2023, indicating an improvement of about 12.1%[23] - The total comprehensive loss for Q1 2024 was approximately ¥413.41 million, compared to a loss of ¥470.31 million in Q1 2023, showing a reduction of about 12.1%[23] Assets and Liabilities - The total assets at the end of the reporting period increased by 4.78% to CNY 30,652,892,002.03 compared to the end of the previous year[6] - The total liability of CNY 29,215,604,697.34, compared to CNY 27,409,718,439.10 in the previous year[18] - Total current assets as of March 31, 2024, amounted to CNY 7,821,039,359.56, compared to CNY 6,289,595,054.10 at the end of 2023, indicating a significant increase[16] - The company's total assets reached CNY 30,652,892,002.03, up from CNY 29,254,744,667.72 at the end of 2023[18] - The total equity of the company decreased to CNY 1.38 billion in Q1 2024 from CNY 1.72 billion in Q4 2023, a decline of about 19.6%[30] - Total current liabilities rose to CNY 22.28 billion in Q1 2024, compared to CNY 20.51 billion in Q4 2023, an increase of approximately 8.7%[30] Cash Flow - The net cash flow from operating activities was CNY 145,081,443.30, indicating an increase in cash received from sales of goods and services[7] - The cash flow from operating activities for Q1 2024 was approximately ¥145.08 million, a significant recovery from a negative cash flow of ¥622.77 million in Q1 2023[25] - In Q1 2024, the net cash flow from operating activities was ¥64,261,092.95, a significant improvement from -¥810,255,561.80 in Q1 2023[36] - Total cash inflow from operating activities was ¥4,711,123,362.83, compared to ¥4,057,545,387.56 in the same period last year, reflecting an increase of approximately 16.1%[36] - Cash outflow for purchasing goods and services decreased to ¥4,350,250,556.99 from ¥4,621,935,022.65, a reduction of about 5.9%[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 78,506[9] - The largest shareholder, Baosteel Group Xinjiang Bayi Iron & Steel Co., Ltd., held 49.62% of the shares[10] - The company did not report any significant changes in the shareholding structure of the top ten shareholders compared to the previous period[12] Research and Development - The company incurred research and development expenses of approximately ¥2.40 million in Q1 2024, compared to ¥767,065.68 in Q1 2023, showing an increase of about 212.5%[22] - Research and development expenses for Q1 2024 were CNY 2.40 million, significantly higher than CNY 767,065.68 in Q1 2023, reflecting an increase of over 212%[32] Inventory and Sales - The company achieved a sales growth of high-profit products, with the proportion of first and second category high-profit products reaching 80.81%, an increase of 34.53% year-on-year[13] - Inventory as of March 31, 2024, was CNY 3,508,196,419.65, significantly higher than CNY 2,231,322,697.89 at the end of 2023[16] - The company's inventory increased to CNY 3.20 billion in Q1 2024, up from CNY 2.02 billion in Q4 2023, marking a rise of about 58.7%[29] Strategic Focus - The company is focusing on dynamic resource allocation and product structure adjustment to enhance profitability amidst market challenges[13] - The company is closely monitoring distributor and end-user profit situations to identify potential issues and opportunities for resource allocation[13] Other Information - The company has not reported any new products or technologies in this quarter[36] - There are no updates on market expansion or mergers and acquisitions mentioned in the report[36] - The company has not indicated any new strategies in the current earnings call[36]