Grace(SH:603256)2024-04-26 09:37Financial Performance - The company's operating revenue for Q1 2024 was ¥189,921,943.83, representing a year-on-year increase of 55.34% due to increased product sales volume[5]. - The net profit attributable to shareholders was a loss of ¥8,069,491.72, primarily due to a decrease in product prices leading to increased losses[5][9]. - The net cash flow from operating activities was a negative ¥8,182,729.23, although cash received from sales increased during the period[5][9]. - Total operating revenue for Q1 2024 reached ¥189,921,943.83, a significant increase of 55.3% compared to ¥122,261,916.55 in Q1 2023[18]. - Net loss for Q1 2024 was ¥8,069,491.72, compared to a net loss of ¥3,768,638.29 in Q1 2023, reflecting a deterioration in profitability[19]. - Operating profit for Q1 2024 was reported at -¥9,753,599.15, compared to -¥5,431,211.06 in the same period last year[19]. - The company reported a basic and diluted earnings per share of -¥0.01 for Q1 2024, compared to -¥0.004 in Q1 2023[20]. - The company recorded a tax expense of ¥1,012,041.23 for Q1 2024, slightly down from ¥1,158,287.86 in Q1 2023[19]. - Other comprehensive income after tax for Q1 2024 was ¥379,779.12, compared to ¥260,294.56 in Q1 2023, showing improvement in this area[19]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,563,443,429.49, reflecting a 1.23% increase from the end of the previous year[6]. - As of March 31, 2024, the company's total assets amounted to CNY 2,563,443,429.49, an increase from CNY 2,532,171,730.10 as of December 31, 2023, reflecting a growth of approximately 1.2%[14]. - The company's current assets totaled CNY 920,323,923.79, up from CNY 870,209,234.14, indicating an increase of about 5.8%[15]. - Total liabilities increased to CNY 1,144,176,273.96 from CNY 1,105,214,861.97, reflecting a growth of about 3.5%[16]. - The company's equity attributable to shareholders decreased slightly to CNY 1,419,267,155.53 from CNY 1,426,956,868.13, a decline of approximately 0.5%[16]. Cash Flow - Cash flow from operating activities increased to ¥195,547,198.07 in Q1 2024, up from ¥155,542,430.62 in Q1 2023[22]. - The net cash flow from operating activities was -$8.18 million, an improvement from -$17.41 million in the previous year[23]. - Cash inflow from investment activities totaled $14.01 million, down from $111.13 million year-over-year[23]. - The net cash flow from financing activities was $67.97 million, compared to a negative $49.89 million in the same period last year[23]. - The total cash and cash equivalents at the end of the period increased to $242.06 million from $223.53 million year-over-year[24]. - The company reported a net increase in cash and cash equivalents of $66.87 million, contrasting with a decrease of $76.78 million in the previous year[24]. Operational Metrics - The weighted average return on net assets was -0.57% for the reporting period[6]. - The company experienced a decrease in equity attributable to shareholders, which was ¥1,419,267,155.53, down 0.54% from the previous year-end[6]. - The company had a total of 25,329 common shareholders at the end of the reporting period[11]. - Research and development expenses for Q1 2024 were ¥9,600,467.38, an increase from ¥8,201,898.65 in Q1 2023, indicating a focus on innovation[18]. - The company reported a decrease in employee compensation payable to CNY 12,761,484.64 from CNY 20,707,415.21, a reduction of approximately 38.4%[16]. Inventory and Borrowings - Inventory decreased to CNY 205,932,132.73 from CNY 224,507,864.93, showing a decline of about 8.3%[15]. - Short-term borrowings rose to CNY 437,581,381.45 from CNY 360,873,751.54, marking an increase of approximately 21.3%[16]. - Cash paid to employees was $49.45 million, a decrease from $58.77 million year-over-year[23]. - Cash paid for taxes was $6.41 million, down from $14.69 million in the previous year[23]. - Cash inflow from loans received was $120.56 million, compared to $114.61 million in the previous year[23]. - Cash outflow for debt repayment was $39.82 million, a decrease from $155.59 million year-over-year[23]. Strategic Developments - The company has not reported any significant new strategies or product developments during this quarter[13]. - The company did not apply new accounting standards for the current year[24].