万顺新材(300057) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was CNY 1,282,145,275.20, representing a 12.28% increase compared to CNY 1,141,944,292.45 in the same period last year[5] - The net profit attributable to shareholders was a loss of CNY 17,492,155.23, a decline of 260.15% from a loss of CNY 4,856,874.85 in the previous year[5] - The basic and diluted earnings per share were both CNY -0.0192, reflecting a decrease of 262.26% from CNY -0.0053 in the previous year[5] - The net profit for Q1 2024 was -¥18,641,655.59, a decrease of 250.71% compared to -¥5,315,416.50 in Q1 2023[11] - Operating profit for Q1 2024 was -¥21,706,894.20, reflecting a decline of 361.70% from -¥4,701,498.33 in the same period last year[11] - The company reported a total comprehensive loss of -18,641,345.91 CNY in Q1 2024, compared to -5,331,256.70 CNY in Q1 2023[27] - Basic and diluted earnings per share were both -0.0192 CNY in Q1 2024, compared to -0.0053 CNY in Q1 2023, indicating a deterioration in earnings performance[27] Cash Flow and Liquidity - The cash flow from operating activities showed a net outflow of CNY 181,137,594.73, a significant decrease of 199.89% compared to a positive cash flow of CNY 181,341,564.15 in the same period last year[5] - Cash flow from operating activities totaled ¥1,740,226,019.91, a rise of 44.06% compared to ¥1,207,998,260.70 in Q1 2023[12] - The company experienced a net cash inflow from financing activities of 215,720,112.22 CNY in Q1 2024, contrasting with a net outflow of -422,685,244.72 CNY in Q1 2023[30] - The company's cash and cash equivalents decreased to CNY 2,100,923,812.67 from CNY 2,192,569,196.97, a decline of about 4.2%[22] - Cash and cash equivalents at the end of Q1 2024 were 1,737,374,974.81 CNY, down from 1,940,323,491.68 CNY at the end of Q1 2023[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 10,160,493,864.97, a decrease of 0.56% from CNY 10,217,704,964.62 at the end of the previous year[5] - The company's equity attributable to shareholders decreased by 0.32% to CNY 5,422,572,160.52 from CNY 5,440,004,391.61 at the end of the previous year[5] - The total current liabilities were CNY 3,756,982,245.96, down from CNY 3,838,771,117.97, indicating a reduction of approximately 2.1%[24] - The company's long-term borrowings increased to CNY 335,872,839.17 from CNY 304,390,987.33, a rise of approximately 10.4%[24] - The inventory as of March 31, 2024, was CNY 1,130,287,578.41, an increase from CNY 1,030,675,764.48, reflecting a growth of about 9.7%[23] Revenue and Sales Performance - Revenue from tax refunds increased by 33.28% to ¥37,123,123.23 in Q1 2024, up from ¥27,853,485.39 in Q1 2023[12] - The company reported a significant increase in other income, which rose by 85.91% to ¥7,509,608.62, compared to ¥4,039,428.91 in the previous year[11] - Investment income reached ¥1,371,321.68 in Q1 2024, marking a 100% increase due to profits from futures and foreign exchange contracts[11] - Aluminum foil sales reached 25,000 tons, an increase of 26% year-on-year, while paper packaging materials sales grew by 6,790 tons, up 46% year-on-year[18] - The functional film business saw sales of 1.16 million square meters, a growth of 49% year-on-year, driven by increased demand for car films and smart films[18] Operational Developments - The company is advancing its construction projects, with the Anhui Zhongji 100,000 tons power and energy storage battery foil project having 5 aluminum foil rolling machines installed[18] - The total production capacity post-project completion will be 255,000 tons of aluminum foil and 260,000 tons of aluminum sheet and strip[18] - The company signed a cooperation framework agreement with downstream customers for aluminum foil, with cumulative sales accounting for 2.9% of the expected total supply for 2023-2026[20] - The company is focusing on enhancing product competitiveness and profitability in key product markets[18] Research and Development - Research and development expenses rose to 21,529,077.54 CNY in Q1 2024, up from 20,460,399.38 CNY in Q1 2023, reflecting a focus on innovation[26]