CRSC(SH:688009)2024-04-26 08:44Financial Performance - The operating revenue for Q1 2024 was CNY 6,509,426,910.25, representing a decrease of 13.10% compared to the same period last year[3]. - The net profit attributable to shareholders was CNY 604,490,948.26, down 10.84% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was CNY 594,368,032.17, a decrease of 10.29% compared to the previous year[3]. - In Q1 2024, the company's net profit was CNY 712,787,783.12, a decrease of 8.2% compared to CNY 776,657,331.91 in Q1 2023[19]. - The total comprehensive income for Q1 2024 was CNY 717,666,489.55, down from CNY 779,863,641.52 in Q1 2023[20]. - The company's operating profit was CNY 879,671,556.88, a decrease of 6.0% from CNY 935,852,172.37 in Q1 2023[19]. - Net profit for Q1 2024 reached CNY 105,754,373.03, an increase of 15.9% compared to CNY 91,236,695.92 in Q1 2023[27]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 118,076,301,641.15, a decrease of 0.77% from the end of the previous year[4]. - The company's total assets as of March 31, 2024, were CNY 118.08 billion, a slight decrease from CNY 118.99 billion at the end of 2023[16]. - The total liabilities decreased to CNY 68.45 billion from CNY 70.12 billion year-on-year[16]. - The company's total assets as of March 31, 2024, amounted to CNY 44,883,994,979.34, a slight decrease from CNY 44,922,488,517.06 on December 31, 2023[26]. - Total current liabilities decreased to CNY 10,429,445,861.81 from CNY 10,565,488,529.19, a reduction of 1.3%[26]. Equity and Shareholder Information - The total equity attributable to shareholders increased to CNY 47,458,549,847.58, reflecting a growth of 1.38% compared to the end of the previous year[4]. - The total equity attributable to shareholders increased to CNY 47.46 billion from CNY 46.81 billion year-on-year[16]. - The company had a total of 71,089 common shareholders at the end of the reporting period[10]. - The largest shareholder, China Railway Signal & Communication Group Co., Ltd., held 6,610,085,424 shares, representing 62.42% of the total shares[9]. Cash Flow and Investments - The net cash flow from operating activities was CNY 2,082,321,318.72, not applicable for year-on-year comparison[3]. - The company reported a significant increase in cash flow from operating activities, with a net cash inflow of CNY 2,082,321,318.72 compared to a net outflow of CNY 1,307,374,461.57 in Q1 2023[23]. - Cash inflow from operating activities totaled ¥1,249,747,394.03, compared to ¥868,004,718.03 in the same period last year, representing an increase of approximately 43.8%[28]. - The company maintained cash and cash equivalents at ¥6,938,970,400.70 at the end of Q1 2024, down from ¥9,452,360,083.33 at the end of Q1 2023[29]. - The company secured ¥2,000,000,000.00 in cash from financing activities, consistent with the previous year[28]. Research and Development - Research and development expenses amounted to CNY 376,270,501.83, accounting for 5.78% of operating revenue, an increase of 1.12 percentage points year-on-year[4]. - Research and development expenses rose to CNY 376,270,501.83, representing a 22.9% increase from CNY 305,948,866.89 in Q1 2023[19]. - Research and development expenses significantly decreased to CNY 1,800.00 from CNY 19,283,400.56, indicating a strategic shift in R&D investment[27]. Inventory and Receivables - The company’s inventory increased to CNY 37.52 billion from CNY 32.06 billion year-on-year[15]. - The company reported a decrease in accounts receivable to CNY 22.16 billion from CNY 22.88 billion[14]. - The company’s inventory increased to CNY 13,402,835.85 from CNY 8,367,845.69, indicating a rise in stock levels[25]. Contract and Revenue Trends - The total new contracts signed in Q1 2024 amounted to CNY 11.36 billion, down 17.07% year-on-year, with the railway sector increasing by 10.13% to CNY 3.985 billion[13]. - The total revenue from operating activities increased to CNY 13,219,785,766.72, up 58.5% from CNY 8,346,582,272.80 in the same period last year[23]. - The company’s sales revenue from goods and services received cash of CNY 9,269,125,042.59, an increase of 21.0% from CNY 7,665,601,435.18 in the previous year[22].