CBC(SZ:000017)2024-04-26 10:19Financial Performance - The company's revenue for Q1 2024 was CNY 112,547,686.50, a decrease of 25.72% compared to CNY 151,527,917.92 in the same period last year[1]. - Net profit attributable to shareholders increased by 12.89% to CNY 3,215,826.19 from CNY 2,848,657.72 year-on-year[1]. - Net profit for Q1 2024 was ¥3,169,101.39, down from ¥3,561,099.96 in the same period last year, representing a decline of 11%[16]. - Operating profit for Q1 2024 was ¥3,770,146.51, slightly down from ¥4,685,648.50 in Q1 2023, a decrease of 19.5%[16]. - The gross profit margin for Q1 2024 was approximately 2.03%, compared to 2.88% in Q1 2023, indicating a decline in profitability[15]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -29,196,176.31, a decline of 286.92% compared to CNY -7,545,878.64 in the previous year[1]. - The company reported a net cash flow from operating activities of -¥29,196,176.31, worsening from -¥7,545,878.64 in Q1 2023[17]. - The company's cash and cash equivalents decreased by 54% to CNY 24,952,498.09 due to payments and advances for purchases[6]. - Cash and cash equivalents at the end of Q1 2024 were ¥24,952,498.09, down from ¥43,376,990.71 at the end of Q1 2023[18]. - The company's cash and cash equivalents decreased significantly from CNY 54,148,674.40 to CNY 24,952,498.09, a decline of approximately 53.8%[12]. Assets and Liabilities - Total assets decreased by 3.62% to CNY 356,300,830.00 from CNY 369,677,494.32 at the end of the previous year[1]. - The total assets of Shenzhen China Bicycle Group Co., Ltd. as of March 31, 2024, amounted to CNY 356,300,830, a decrease from CNY 369,677,494.32 at the beginning of the period, representing a decline of approximately 3.7%[13]. - The company's current assets totaled CNY 347,246,326.73, down from CNY 360,263,450.17, indicating a decrease of about 3.6%[12]. - Total liabilities decreased to CNY 43,730,574.42 from CNY 60,276,340.13, a reduction of approximately 27.5%[13]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 75,669[7]. - The largest shareholder, Wansheng Industrial Holdings (Shenzhen) Co., Ltd., holds 20.00% of the shares, totaling 137,836,986 shares[7]. - The total equity attributable to the parent company increased to CNY 311,977,072.35 from CNY 308,761,246.16, representing a growth of about 0.7%[14]. Operational Insights - The company experienced a significant drop in cash inflow from sales, which was ¥97,006,776.77 compared to ¥282,900,383.10 in the previous year, a decline of 65.7%[17]. - Research and development expenses significantly decreased to ¥106,484.06 from ¥529,106.67, a reduction of 79.9%[15]. - The company has no significant new product launches or technological developments reported in this quarter[10]. - There are no updates on market expansion or mergers and acquisitions in the current report[10]. Inventory and Receivables - Accounts receivable increased to CNY 226,531,649.41 from CNY 196,293,133.00, reflecting a growth of approximately 15.4%[12]. - Inventory decreased to CNY 65,540,187.45 from CNY 81,916,039.14, showing a decline of about 20%[12]. - Prepayments increased significantly by 296% to CNY 15,135,598.32, indicating a rise in procurement[6]. - Accounts payable decreased by 43% to CNY 3,559,592.58, reflecting increased payments of payables[6].