TJPC(SH:600488)2024-04-26 08:48Financial Performance - The company's operating revenue for Q1 2024 was CNY 863,769,688.70, representing a decrease of 12.80% compared to the same period last year[5]. - The net profit attributable to shareholders was CNY 58,012,016.03, down 14.03% year-on-year[5]. - Basic and diluted earnings per share were both CNY 0.053, reflecting a decline of 14.52% compared to the previous year[5]. - In Q1 2024, the company's net profit was CNY 72,482,506.08, a decrease of 16.3% compared to CNY 86,684,786.16 in Q1 2023[16]. - The total revenue from operating activities was CNY 834,169,249.50, down from CNY 854,021,932.28 in the same period last year, reflecting a decline of approximately 2.2%[18]. - The company's operating profit for Q1 2024 was CNY 78,199,642.76, compared to CNY 93,656,566.52 in Q1 2023, representing a decrease of 16.5%[16]. - Total comprehensive income for Q1 2024 was CNY 73,365,945.30, compared to CNY 87,413,663.40 in Q1 2023, a decline of 16.1%[17]. Cash Flow and Expenses - The net cash flow from operating activities decreased significantly by 71.76%, amounting to CNY 51,548,996.07, primarily due to increased procurement costs and higher wages paid to employees[6]. - The cash flow from operating activities netted CNY 51,548,996.07, a significant decline of 71.8% from CNY 182,559,986.10 in Q1 2023[19]. - The company incurred financial expenses of CNY 3,460,841.54, significantly lower than CNY 12,603,485.41 in the previous year, marking a decrease of 72.6%[16]. - Research and development expenses were CNY 38,968,129.61, down from CNY 46,733,026.35, indicating a reduction of 16.7% year-over-year[16]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,121,672,539.80, a slight decrease of 0.34% from the end of the previous year[5]. - Total assets decreased to CNY 6,121,672,539.80 from CNY 6,142,482,199.13, reflecting a slight contraction in the asset base[12]. - Total liabilities decreased to CNY 2,294,873,770.52 from CNY 2,389,178,260.42, indicating improved financial leverage[13]. - Shareholders' equity increased to CNY 3,826,798,769.28 from CNY 3,753,303,938.71, showing a strengthening of the company's financial position[13]. Shareholder Information - The company has a total of 43,724 common shareholders as of the end of the reporting period[8]. - The controlling shareholder, Tianjin Pharmaceutical Group Co., Ltd., holds 50.69% of the shares, indicating a stable ownership structure[8]. Market and Product Development - The company successfully passed the consistency evaluation for Clindamycin Phosphate Injection and Fluconazole Sodium Chloride Injection, enhancing market competitiveness[10]. - Tianjin Yaohe Pharmaceutical Co., Ltd. was the first company to pass the consistency evaluation for Methoclopramide Hydrochloride Injection, marking a significant achievement[10]. - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[15]. Inventory and Receivables - Accounts receivable decreased to CNY 410,358,236.00 from CNY 429,950,533.44, indicating improved collection efforts[11]. - Inventory rose to CNY 737,426,737.40 from CNY 725,581,181.43, suggesting potential stockpiling or slower sales[11]. Cash and Cash Equivalents - Cash and cash equivalents increased slightly to CNY 720,977,304.79 from CNY 718,856,391.87 at the end of 2023[11]. - The cash and cash equivalents at the end of Q1 2024 were CNY 698,284,895.13, a decrease from CNY 634,376,254.46 in Q1 2023[19]. - The company raised CNY 101,000,000.00 through borrowings in Q1 2024, compared to CNY 56,000,000.00 in Q1 2023, indicating a 80.4% increase in financing activities[19].