GWE(SH:600192)2024-04-26 10:15Financial Performance - The company's operating revenue for Q1 2024 was CNY 386,603,846.90, representing a decrease of 19.64% compared to the same period last year[5] - The net profit attributable to shareholders of the listed company was a loss of CNY 27,869,538.55, a decline of 110.37% year-on-year[5] - The basic earnings per share for the period was -CNY 0.0631, reflecting a significant loss compared to the previous year[6] - The company reported a net loss of CNY 29,946,982.64 for Q1 2024, compared to a net loss of CNY 16,315,609.88 in Q1 2023[18] - The net profit for Q1 2024 was -29,790,848.73 CNY, compared to -16,339,362.89 CNY in Q1 2023, indicating a significant increase in losses[19] - The total comprehensive income for Q1 2024 was -32,721,773.77 CNY, compared to -20,017,995.00 CNY in Q1 2023, reflecting a worsening financial position[19] - The basic and diluted earnings per share for Q1 2024 were both -0.0631 CNY, compared to -0.0300 CNY in Q1 2023[19] Cash Flow and Liquidity - The net cash flow from operating activities was -CNY 27,925,000.57, indicating cash outflow during the quarter[5] - Cash inflows from operating activities decreased to 400,588,159.47 CNY in Q1 2024 from 655,765,692.65 CNY in Q1 2023, a decline of approximately 39%[21] - The net cash flow from operating activities was -27,925,000.57 CNY in Q1 2024, a stark contrast to the positive 94,802,986.37 CNY in Q1 2023[21] - Cash and cash equivalents at the end of Q1 2024 totaled 239,642,863.41 CNY, down from 375,145,934.87 CNY at the end of Q1 2023[21] - The company raised 511,148,217.50 CNY in borrowings during Q1 2024, slightly down from 525,000,000.00 CNY in Q1 2023[21] - The net cash flow from financing activities was 141,923,631.84 CNY in Q1 2024, compared to 149,071,660.16 CNY in Q1 2023, indicating a decrease of about 4%[21] - The company reported a cash outflow of 428,513,160.04 CNY from operating activities in Q1 2024, compared to 560,962,706.28 CNY in Q1 2023[21] Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,900,815,692.18, a decrease of 0.64% from the end of the previous year[6] - The company's total assets as of March 31, 2024, were CNY 4,900,815,692.18, down from CNY 4,932,179,537.52 at the end of 2023[15] - Current liabilities totaled CNY 3,146,727,640.46, a decrease of 0.5% from CNY 3,161,720,005.73 at the end of 2023[16] - Total liabilities increased slightly to CNY 3,478,919,431.60 from CNY 3,477,481,546.38, reflecting a marginal increase of 0.04%[16] Shareholder Information - The controlling shareholder, Gansu Electric Equipment Group Co., Ltd., plans to increase its stake in the company by CNY 12 million within six months, with a cumulative investment of CNY 6,009,235.54 to date[13] - The number of ordinary shareholders at the end of the reporting period was 32,919, with the largest shareholder holding 39.19% of the shares[10] Operational Metrics - The company experienced a decrease in gross profit margin, with a comprehensive gross margin of 17.87%, an increase of 2.65% year-on-year[9] - Total revenue for Q1 2024 was CNY 386,603,846.90, a decrease of 19.7% compared to CNY 481,075,140.31 in Q1 2023[18] - Total operating costs for Q1 2024 were CNY 421,010,077.39, down 17.5% from CNY 510,414,064.63 in Q1 2023[18] - Operating profit for Q1 2024 was a loss of CNY 29,420,444.79, compared to a loss of CNY 16,283,689.72 in Q1 2023[18] Asset Management - Cash and cash equivalents increased to CNY 408,827,223.25 as of March 31, 2024, up from CNY 320,437,378.03 at the end of 2023[15] - Accounts receivable decreased to CNY 1,511,779,327.37 from CNY 1,569,935,114.81 at the end of 2023, a reduction of 3.7%[15] - Inventory decreased slightly to CNY 1,153,687,423.88 from CNY 1,165,597,997.08, a decline of 1.0%[15] Accounting Standards - The company did not apply new accounting standards for the first time in 2024[22]