DEPPON(SH:603056)2024-04-26 09:13Financial Performance - In Q1 2024, the company's operating revenue reached CNY 9.30 billion, a year-on-year increase of 25.31%[6] - The net profit attributable to shareholders was CNY 0.93 billion, reflecting a growth of 27.74% compared to the same period last year[25] - The net profit after deducting non-recurring gains and losses surged by 254.03% to CNY 0.16 billion[25] - The cash flow from operating activities amounted to CNY 1.05 billion, an increase of 75.38% year-on-year[6] - Total operating revenue for Q1 2024 reached RMB 9.30 billion, a 25.3% increase from RMB 7.42 billion in Q1 2023[38] - Operating costs for Q1 2024 were RMB 9.29 billion, up 25.4% from RMB 7.40 billion in Q1 2023[38] - Gross profit margin decreased to 6.42% in Q1 2024 from 7.66% in Q1 2023, a decline of 1.24 percentage points[43] - Net profit attributable to shareholders of the parent company was RMB 0.93 billion in Q1 2024, a 27.74% increase from RMB 0.73 billion in Q1 2023[43] - Net profit attributable to shareholders after deducting non-recurring gains and losses surged 254.03% to RMB 0.16 billion in Q1 2024 from RMB 0.04 billion in Q1 2023[43] Asset and Liability Management - The total assets at the end of the reporting period were CNY 174.26 billion, a decrease of 0.50% from the beginning of the year[8] - The net assets attributable to shareholders increased by 1.22% to CNY 77.77 billion[8] - The asset-liability ratio improved to 55.27%, down by 0.76 percentage points from the beginning of the year[8] - The total assets amounted to approximately RMB 17.43 billion, a slight decrease from RMB 17.51 billion in the previous period[37] - The total liabilities decreased from RMB 9.81 billion to RMB 9.63 billion, indicating improved financial stability[37] - Short-term borrowings increased to RMB 1.60 billion from RMB 1.30 billion, reflecting a rise in financing needs[37] - The total liabilities rose to CNY 4,384,986,895.74 in Q1 2024, compared to CNY 3,708,747,201.92 in Q1 2023, an increase of about 18.2%[68] - The total liabilities and equity as of March 31, 2024, amounted to CNY 17,425,949,491.58, slightly down from CNY 17,512,980,656.58 at the end of 2023[79] Cash Flow Analysis - The company's cash flow from operating activities showed improvement, with a notable increase in cash inflows compared to the previous quarter[63] - The net cash inflow from operating activities for Q1 2024 was CNY 1,046,035,953.21, an increase from CNY 596,448,248.36 in Q1 2023, representing a growth of approximately 75.4%[82] - Total cash and cash equivalents at the end of Q1 2024 reached CNY 2,935,526,084.94, up from CNY 1,706,910,637.14 at the end of Q1 2023, indicating a year-over-year increase of about 72.0%[75] - The cash inflow from operating activities was RMB 75.38 million, driven by improved profitability and increased cash flow from operating receivables and payables[48] - The cash outflow from financing activities in Q1 2024 was CNY 420,310,656.60, compared to CNY 723,035,087.64 in Q1 2023, indicating a reduction of approximately 41.9%[75] - The cash inflow from sales of goods and services was 62,543,932.80 RMB, a decline from 71,506,569.57 RMB in Q1 2023, representing a decrease of approximately 12%[90] Revenue Breakdown - The express delivery business revenue was CNY 0.54 billion, a decrease of 22.04% year-on-year[10] - The revenue from the fast transportation business grew by 29.64% to CNY 8.37 billion[11] - Other business revenue, primarily from warehousing and supply chain services, increased by 44.45% to CNY 0.38 billion[21] - The total revenue from sales of goods and services in Q1 2024 was CNY 10,556,000,756.47, compared to CNY 8,110,093,277.26 in Q1 2023, reflecting a growth of approximately 30.2%[82] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 17,524, with the largest shareholder holding 66.50% of the shares[30] - The company has a total of 7,139,877 shares in its repurchase account, which is not included in the top 10 shareholders[33] - The company’s employee stock ownership plan holds 6 million shares, reflecting employee engagement in the company’s performance[32] Research and Development - Research and development expenses for Q1 2024 were CNY 169,140.95, significantly higher than CNY 46,525.46 in Q1 2023, indicating a focus on innovation[71] Inventory and Cost Management - The company reported a decrease in inventory from CNY 5,794,202.50 in Q1 2023 to CNY 3,664,214.83 in Q1 2024, suggesting improved inventory management[67] - Other costs decreased by 5.71% year-on-year to RMB 0.435 billion, with a revenue ratio decline of 1.54 percentage points[42] - The company’s operating expenses have been effectively controlled, contributing to a significant improvement in profitability levels[28]