SEC(SH:603988)2024-04-26 09:37Financial Performance - The company's operating revenue for Q1 2024 was ¥110,321,130.81, representing a decrease of 39.16% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of ¥18,424,110.23, a decline of 615.41% year-over-year[6]. - Basic and diluted earnings per share were both -¥0.08, indicating a 500.00% decline from the same quarter last year[6]. - Total operating revenue for Q1 2024 was ¥110,321,130.81, a decrease of 39.1% compared to ¥181,324,785.24 in Q1 2023[20]. - Net profit for Q1 2024 was a loss of ¥18,424,110.23, compared to a profit of ¥3,574,635.45 in Q1 2023, representing a significant decline[21]. - Operating cash flow for Q1 2024 was negative at ¥36,839,145.44, compared to a positive cash flow of ¥233,992.69 in Q1 2023[26]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥36,839,145.44, reflecting a significant decrease of 15,843.72% compared to the previous year[6]. - The net cash flow from financing activities was -36,201,021.24[27]. - The cash and cash equivalents at the beginning of the period were 58,929,546.02[27]. - The cash and cash equivalents at the end of the period decreased to 22,728,524.78[27]. - The company's cash and cash equivalents decreased from 93,044,549.87 RMB to 55,093,983.89 RMB, a decline of approximately 40.8%[14][15]. Assets and Liabilities - Total assets at the end of Q1 2024 were ¥1,067,089,212.59, down 4.02% from the end of the previous year[7]. - Total assets decreased from 1,111,832,237.27 RMB to 1,067,089,212.59 RMB, a reduction of about 4.0%[15]. - Total liabilities decreased from 447,245,667.30 RMB to 411,799,491.33 RMB, a decline of approximately 7.9%[16]. - The company's total equity remains stable at 235,200,000.00 RMB[16]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 18,685[11]. - The largest shareholder, Ningbo JunTuo Enterprise Management Co., Ltd., holds 55,202,000 shares, accounting for 23.47% of total shares[11]. Operating Costs and Expenses - The company reported a significant decrease in operating costs by 39.33%, primarily due to reduced operating revenue[9]. - Total operating costs for Q1 2024 were ¥115,707,899.00, down 36.7% from ¥182,775,716.78 in Q1 2023[20]. - Research and development expenses fell by 43.40%, attributed to differing project progress compared to the previous year[9]. - Research and development expenses for Q1 2024 were ¥4,310,186.21, down 43.6% from ¥7,615,048.57 in Q1 2023[20]. - The company reported a significant increase in sales expenses, totaling ¥9,827,312.36 in Q1 2024, compared to ¥10,067,431.57 in Q1 2023[20]. Other Financial Metrics - The company experienced a 108.08% increase in financial expenses, mainly due to exchange gains from the Hong Kong subsidiary in the previous year[9]. - The total profit decreased by 535.24%, driven by reduced operating revenue and a decline in the fair value of equity investments[9]. - The company's retained earnings decreased from ¥176,351,271.79 in the previous year to ¥158,814,709.00 in Q1 2024[17]. - Other income for Q1 2024 increased to ¥681,120.97 from ¥425,000.00 in Q1 2023[21]. Inventory and Receivables - The company reported a significant increase in inventory from 264,904,074.68 RMB to 280,460,464.28 RMB, an increase of about 5.9%[15]. - Accounts receivable decreased from 299,834,067.38 RMB to 279,258,293.50 RMB, a reduction of about 6.9%[14][15]. Product Development and Strategy - The company has not disclosed any new product developments or market expansion strategies in the current report[12].