Financial Performance - The company's operating revenue for Q1 2024 was CNY 315,800,011.95, representing a year-on-year increase of 155.94%[5]. - The net profit attributable to shareholders was a loss of CNY 12,479,756.69, with a significant decline in cash flow from operating activities, down 58.51% to CNY 13,543,014.13[5][8]. - The basic earnings per share for the period was -0.03 yuan, indicating a challenging financial environment[5]. - Net loss for Q1 2024 was CNY 41,950,046.12, compared to a net loss of CNY 12,972,478.75 in Q1 2023, reflecting an increase in losses of approximately 223.5%[21]. - Cash flow from operating activities for Q1 2024 was CNY 13,543,014.13, a decrease from CNY 32,642,816.44 in Q1 2023, showing a decline of about 58.5%[24]. - The company reported a gross profit margin decline, with gross profit for Q1 2024 being significantly lower than in Q1 2023, reflecting challenges in cost management[20]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,547,760,504.65, a decrease of 6.38% compared to the end of the previous year[6]. - The company's current assets totaled CNY 2,754,152,335.93, down from CNY 3,048,417,273.20, indicating a decrease of about 9.66%[16]. - The company's cash and cash equivalents were CNY 534,924,705.97, slightly down from CNY 545,519,700.33, reflecting a decrease of approximately 1.09%[16]. - The total liabilities of the company were CNY 1,806,083,178.63, down from CNY 2,097,542,322.89, representing a decrease of approximately 13.87%[18]. - The company's equity attributable to shareholders was CNY 2,724,922,255.20, a slight decrease from CNY 2,742,902,129.87, indicating a decline of about 0.66%[18]. - The company's inventory stood at CNY 906,536,878.79, down from CNY 920,820,723.30, reflecting a decrease of approximately 1.54%[16]. Shareholder Information - The top ten shareholders held a total of 25.1% of shares, with the largest shareholder, Su Qingyan, holding 98,619,925 shares[10]. Market Strategy and Outlook - The company is focusing on expanding its market presence and enhancing its product offerings in response to increased demand[8]. - Future outlook remains cautious due to ongoing market challenges and increased competition in the industry[20]. - The company is exploring potential market expansion strategies to improve revenue streams in the upcoming quarters[20]. Cash Flow and Investment Activities - Cash inflow from investment activities in Q1 2024 was CNY 453,528,600.54, down from CNY 741,771,949.58 in Q1 2023, representing a decrease of approximately 38.9%[24]. - The company paid $370,000,000.00 in debt repayments during Q1 2024, compared to $98,000,000.00 in Q1 2023[25]. - The total cash outflow from financing activities was $390,730,078.27, significantly higher than $112,520,000.50 in Q1 2023[25]. - The company raised $203,000,000.00 through borrowings in Q1 2024, up from $147,300,000.00 in Q1 2023[25]. - The company’s cash flow from financing activities resulted in a net outflow of $187,730,078.27 in Q1 2024, compared to a net inflow of $34,779,999.50 in Q1 2023[25]. Research and Development - Research and development expenses for Q1 2024 were CNY 14,498,444.36, compared to CNY 16,969,746.91 in Q1 2023, indicating a reduction of about 14.5%[20]. - The company has not reported any new product launches or technological advancements during this quarter[20].
威奥股份(605001) - 2024 Q1 - 季度财报