Financial Performance - For Q1 2024, total operating revenue was RMB 46.52 billion, a decrease of 2.46% from RMB 47.70 billion in Q1 2023[6] - Total operating costs for Q1 2024 were RMB 41.19 billion, down 1.4% from RMB 41.77 billion in Q1 2023[6] - Net profit attributable to shareholders for Q1 2024 was RMB 1.03 billion, a decline of 29.0% compared to RMB 1.46 billion in Q1 2023[6] - The total comprehensive income for Q1 2024 reached RMB 4,500,727,691.00, an increase from RMB 4,150,950,680.63 in Q1 2023, representing a growth of approximately 8.5%[7] - The net cash flow from operating activities for Q1 2024 was RMB 5,050,662,212.16, down from RMB 6,994,882,684.54 in Q1 2023, indicating a decrease of about 27.9%[9] - The company reported sales revenue from goods and services received in Q1 2024 of RMB 49,216,508,611.04, down from RMB 53,714,090,823.97 in Q1 2023, a decline of about 8.3%[9] - The company reported a total comprehensive income of RMB 193,926,473.27 for Q1 2024, compared to RMB (670,009,903.01) in Q1 2023[16] Cash and Liquidity - Cash and cash equivalents increased to RMB 35.23 billion as of March 31, 2024, up from RMB 33.14 billion at the end of 2023, representing a growth of 6.35%[2] - Cash and cash equivalents at the end of Q1 2024 totaled RMB 33,919,103,169.67, compared to RMB 37,415,555,427.99 at the end of Q1 2023, reflecting a decrease of approximately 9.5%[10] - The company’s cash and cash equivalents at the end of Q1 2024 were RMB 4,313,848,501.81, an increase from RMB 2,015,018,543.81 at the end of Q1 2023[18] Assets and Liabilities - Total assets reached RMB 173.65 billion as of March 31, 2024, compared to RMB 168.72 billion at the end of 2023, marking an increase of 2.77%[5] - Total liabilities amounted to RMB 89.63 billion as of March 31, 2024, slightly up from RMB 89.34 billion at the end of 2023, reflecting a growth of 0.33%[5] - Total liabilities decreased to RMB 19,925,491,964.64 from RMB 20,134,219,409.30 year-over-year[14] - The company's total liabilities as of March 31, 2024, amounted to RMB 12,777,351,334.39, a decrease from RMB 13,004,281,788.54 as of December 31, 2023[13] Strategic Focus and Future Plans - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[6] - Future strategies may involve market expansion and potential mergers and acquisitions[19] - The company is committed to developing new products and technologies to drive growth[19] - Emphasis on user data analysis to inform decision-making and strategy[19] - The company aims to improve operational efficiency through strategic initiatives[19] - Financial performance metrics will be closely monitored to ensure alignment with growth objectives[19] Governance and Board Composition - The board of directors includes Chairman Chen Wei and several non-executive directors[19] - The executive director is Song Wei, with additional non-executive directors including Liu Guanjiao and Ye Qian[19] - The board also comprises independent non-executive directors such as Yin Yuanping and Xu Xiangyang[19] - The company is focused on enhancing its governance structure with a diverse board composition[19] - The board is dedicated to maintaining transparency and accountability in its operations[19] Research and Development - The company reported a decrease in research and development expenses to RMB 165.21 million in Q1 2024 from RMB 186.01 million in Q1 2023, a decline of 11.14%[6]
北京汽车(01958) - 2024 Q1 - 季度业绩