Jointown(SH:600998)2024-04-26 09:31Financial Performance - The company's operating revenue for Q1 2024 was CNY 40,472,147,237.18, representing a decrease of 3.85% compared to the same period last year[3]. - Net profit attributable to shareholders was CNY 537,675,138.46, down 4.19% year-on-year[3]. - Total revenue for Q1 2024 was CNY 40,472,147,237.18, a decrease of 3.9% compared to CNY 42,092,541,357.00 in Q1 2023[19]. - Net profit for Q1 2024 was CNY 542,165,921.17, a decrease from CNY 598,440,511.62 in Q1 2023, highlighting challenges in profitability[20]. - The total comprehensive income attributable to shareholders of the parent company for Q1 2024 was approximately ¥545.45 million, compared to ¥556.46 million in Q1 2023, reflecting a decrease of about 2%[21]. Cash Flow - The net cash flow from operating activities was negative at CNY -3,653,621,916.00, a decline of 20.92% compared to the previous year[3]. - The cash flow from operating activities for Q1 2024 was approximately -¥3.65 billion, worsening from -¥3.02 billion in Q1 2023[22]. - Cash inflow from operating activities totaled approximately ¥34.28 billion in Q1 2024, slightly up from ¥34.09 billion in Q1 2023[22]. - Cash outflow from operating activities increased to approximately ¥37.93 billion in Q1 2024, compared to ¥37.11 billion in Q1 2023[22]. - The net cash flow from investing activities for Q1 2024 was approximately -¥328.32 million, compared to -¥177.13 million in Q1 2023, indicating a larger outflow[23]. - The net cash flow from financing activities for Q1 2024 was approximately ¥1.50 billion, an increase from ¥1.46 billion in Q1 2023[23]. - The total cash and cash equivalents at the end of Q1 2024 stood at approximately ¥6.33 billion, up from ¥5.92 billion at the end of Q1 2023[23]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 97,241,243,539.77, an increase of 4.80% from the end of the previous year[4]. - Total assets increased to CNY 97,241,243,539.77 in Q1 2024, up from CNY 92,789,102,474.22 in Q1 2023, showing growth in the asset base[19]. - Non-current liabilities decreased to CNY 2,926,568,600.42 in Q1 2024 from CNY 3,246,241,583.19 in Q1 2023, indicating improved financial stability[19]. - The total equity increased to CNY 30,860,040,609.41 in Q1 2024 from CNY 29,476,998,176.43 in Q1 2023, indicating a stronger equity position[19]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 26,456[10]. - The top shareholder, Shanghai Hongkang Industrial Investment Co., Ltd., held 21.58% of the shares[10]. - The net profit attributable to shareholders of the parent company for Q1 2024 was approximately ¥537.68 million, a decrease from ¥561.17 million in Q1 2023, representing a decline of about 4.2%[21]. Operational Highlights - Accounts receivable increased by 50.17% due to expanded sales and increased customer debts[8]. - The company experienced a significant decrease of 85.35% in net cash flow from investing activities compared to the previous year[8]. - The company plans to establish an artificial intelligence joint laboratory with Peking University to enhance its digital management and supply chain capabilities[13]. - As of the end of Q1 2024, the number of direct and franchise pharmacies under the company reached 21,192, supporting its expansion strategy[14]. - The company launched a digital comprehensive service platform for the pharmaceutical supply chain in Hubei, which is the first provincial-level platform in the region[14]. - The company is actively promoting its "ten thousand store franchise" plan to enhance its market presence and competitiveness[14]. Cost and Investment - Total operating costs for Q1 2024 were CNY 39,678,052,125.51, down from CNY 41,206,285,361.96 in Q1 2023, reflecting a cost reduction strategy[20]. - R&D expenses increased to CNY 44,253,731.42 in Q1 2024, compared to CNY 38,919,048.20 in Q1 2023, indicating a focus on innovation[20]. - The company reported a 41.52% decrease in investment income, primarily due to reduced investment returns from subsidiaries[8]. - The company reported a total of RMB 1,184,170,808.49 in investment properties, up from RMB 1,167,435,291.46, indicating an increase of about 1.43%[16]. - The company’s long-term equity investments increased to RMB 1,997,215,462.35 from RMB 1,877,764,921.20, reflecting a growth of approximately 6.38%[16].