China Post Technology (SH:688648)2024-04-26 09:13Financial Performance - The company's operating revenue for Q1 2024 was ¥208,488,428.35, representing a decrease of 34.97% compared to the same period last year[6]. - The net profit attributable to shareholders was -¥19,820,444.88, indicating a significant loss due to reduced operating revenue[6]. - The net cash flow from operating activities was -¥123,717,203.97, reflecting ongoing challenges in cash generation[6]. - Total operating revenue for Q1 2024 was ¥208,488,428.35, a decrease of 34.9% compared to ¥320,581,793.89 in Q1 2023[22]. - The net loss for Q1 2024 was ¥19,820,444.88, compared to a net loss of ¥4,161,242.18 in Q1 2023, indicating a significant increase in losses[23]. - Basic and diluted earnings per share for Q1 2024 were both -¥0.15, compared to -¥0.04 in Q1 2023[24]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,605,925,856.43, down 7.47% from the previous year[7]. - The total assets as of Q1 2024 amounted to ¥2,605,925,856.43, a decrease from ¥2,816,402,366.77 in the previous year[20]. - Total liabilities for Q1 2024 were ¥899,098,932.19, down from ¥1,090,695,206.48 in Q1 2023, representing a reduction of 17.5%[20]. - The company reported a decrease in accounts payable from ¥722,602,062.35 in Q1 2023 to ¥564,772,458.38 in Q1 2024, a decline of 21.9%[20]. - The company's total liabilities and equity figures were not disclosed in the provided documents, indicating a need for further financial analysis[18]. Cash Flow - As of March 31, 2024, the company's cash and cash equivalents amounted to ¥814,232,137.87, a decrease from ¥952,550,617.92 on December 31, 2023, representing a decline of approximately 14.5%[18]. - The cash inflow from operating activities was $263,882,711.89 in Q1 2024, an increase of 17.0% compared to $225,452,107.69 in Q1 2023[26]. - The net cash flow from operating activities improved to -$123,717,203.97 in Q1 2024, compared to -$215,453,141.36 in Q1 2023, reflecting a reduction in cash outflow[27]. - The ending cash and cash equivalents balance for Q1 2024 was $810,232,137.87, significantly higher than $375,309,327.05 in Q1 2023, representing an increase of 116.5%[27]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,576[12]. - The largest shareholder, Zhongyou Capital Management Co., Ltd., held 48.88% of the shares, totaling 66,471,076 shares[12]. - The top 10 shareholders include China Cinda Asset Management Co., Ltd. holding 1.25% of shares, totaling 1,700,000 shares[15]. Research and Development - Research and development expenses totaled ¥19,786,645.75, accounting for 9.49% of operating revenue, an increase of 2.72 percentage points year-on-year[7]. - Research and development expenses for Q1 2024 were ¥19,786,645.75, down from ¥21,717,623.25 in Q1 2023, a decrease of 8.9%[22]. Market and Strategy - The company attributed the revenue decline to seasonal fluctuations and adjustments in downstream customer investments, suggesting that Q1 performance may not be indicative of the full year[9]. - The company has not reported any new strategies or significant changes in market expansion plans during this quarter[17]. - There were no significant updates on new product developments or technological advancements mentioned in the conference call[17]. Other Financial Metrics - The weighted average return on net assets was -1.16%, indicating a decline in profitability[7]. - The company reported non-recurring gains of ¥1,449,203.14, primarily from asset disposals and government subsidies[9]. - The company's deferred tax assets decreased from ¥37,779,090.50 in Q1 2023 to ¥35,102,586.11 in Q1 2024, a decline of 7.1%[20]. - The total non-current assets as of Q1 2024 were ¥700,455,734.24, an increase from ¥690,782,084.42 in Q1 2023, reflecting a growth of 1.0%[20].