Financial Performance - Net profit attributable to shareholders rose by 143.19% to CNY 10,180,355.88 for the first quarter of 2024 [10]. - Operating income reached CNY 34,275,554.02, reflecting a growth of 53.97% year-on-year [12]. - Total operating revenue for Q1 2024 reached ¥34,275,554.02, a significant increase of 54% compared to ¥22,261,186.00 in Q1 2023 [38]. - Net profit for Q1 2024 was ¥11,492,136.80, representing a 206% increase from ¥3,746,043.26 in Q1 2023 [39]. - Total profit for Q1 2024 was ¥11,500,947.43, compared to ¥3,734,404.66 in Q1 2023, indicating strong financial performance [39]. Assets and Liabilities - Total assets increased by 20.10% to CNY 647,150,172.55 compared to the end of last year [10]. - Total liabilities decreased to ¥218.83 billion in 2024 from ¥266.04 billion in 2023, a reduction of about 17.8% [33]. - The company reported a total of 504,046,141.49 CNY in current assets as of March 31, 2024, an increase from 394,829,550.46 CNY at the end of 2023, reflecting a growth of approximately 27.7% [30]. - The company has total liabilities of 21,219,001.67 CNY in assets that are either pledged or frozen, representing 3.28% of total assets [27]. Shareholder Information - The number of ordinary shareholders increased to 3,777, indicating growing investor interest [17]. - The largest shareholder, Fang Yanli, holds 51.56% of the shares, with a total of 28,150,000 shares [18]. - The top ten shareholders collectively hold 64.57% of the company's shares, totaling 35,251,904 shares [19]. Cash Flow and Financial Stability - The company’s cash flow from operating activities showed a significant improvement, with a net outflow of CNY 14,476,421.59, an increase of 453.44% compared to the previous year [10]. - Operating cash flow for Q1 2024 was negative at -14,476,421.59 CNY, compared to -2,615,693.95 CNY in Q1 2023, indicating a significant decline in operational performance [44]. - Financing activities generated a net cash inflow of 133,614,783.15 CNY in Q1 2024, a significant increase from -1,505,217.00 CNY in Q1 2023, reflecting strong capital raising efforts [45]. - The ending cash and cash equivalents balance for Q1 2024 was 196,256,912.78 CNY, up from 55,531,293.93 CNY in Q1 2023, indicating improved liquidity position [45]. Research and Development - Research and development expenses increased by 31.17% to CNY 1,887,110.64, indicating a continued focus on new product development [12]. - Research and development expenses increased to ¥1,887,110.64 in Q1 2024, compared to ¥1,438,669.71 in Q1 2023, reflecting a focus on innovation [38]. Government Support - The company received government subsidies amounting to CNY 4,128,836.83, a significant increase of 11,893.51% compared to the previous year [12]. Market Expansion - The company plans to continue expanding its market presence, particularly in corn seed sales, which have shown strong growth [12]. Other Financial Metrics - The company recorded other income of ¥4,128,836.83 in Q1 2024, a substantial rise from ¥34,425.60 in Q1 2023 [38]. - The company experienced a credit impairment loss of ¥-109,566.26 in Q1 2024, a significant improvement from a loss of ¥623,934.62 in Q1 2023 [39]. - Cash inflow from sales of goods and services was 29,585,389.08 CNY in Q1 2024, a decrease from 37,862,611.60 CNY in Q1 2023, highlighting a decline in revenue generation [44].
康农种业(837403) - 2024 Q1 - 季度财报