MAIXINLIN(SH:688685)2024-04-26 10:44Financial Performance - The company's operating revenue for Q1 2024 was ¥70,000,974.76, representing a year-on-year increase of 6.23%[5] - The net profit attributable to shareholders for the same period was ¥7,977,639.35, reflecting an increase of 8.38% compared to the previous year[5] - The basic earnings per share for Q1 2024 was ¥0.07, down by 28.57% compared to the same period last year[5] - Net profit for Q1 2024 was ¥8,069,317.65, representing a 13.1% increase from ¥7,138,798.18 in Q1 2023[23] - The total equity attributable to shareholders of the parent company was ¥701,629,837.56, up from ¥692,032,884.38 in Q1 2023[21] Cash Flow - The net cash flow from operating activities was negative at -¥522,790,436.13, indicating a significant cash outflow[5] - The net cash flow from operating activities in Q1 2024 was -¥522,790,436.13, compared to -¥26,055,314.07 in Q1 2023, indicating a significant decline[25] - The company’s cash inflow from operating activities totaled ¥117,229,577.89 in Q1 2024, compared to ¥84,304,218.63 in Q1 2023[25] - The total cash and cash equivalents at the end of the period decreased to $40,270,416.56 from $244,436,884.42, indicating a significant reduction in liquidity[26] - The company experienced a net decrease in cash and cash equivalents of -$54,199,766.45, compared to -$32,666,768.88 in the previous period, reflecting ongoing cash management challenges[26] Assets and Liabilities - The total assets at the end of the reporting period reached ¥1,358,610,532.28, marking a significant increase of 56.57% from the end of the previous year[6] - The total liabilities as of Q1 2024 amounted to ¥652,365,809.11, a substantial increase from ¥165,017,326.00 in the previous year[21] - The company’s total assets reached ¥1,358,610,532.28 in Q1 2024, significantly higher than ¥867,714,336.54 in Q1 2023[21] - The company reported a total non-current asset value of RMB 449,363,157.01, slightly down from RMB 451,339,378.53[18] Research and Development - Research and development expenses totaled ¥5,512,772.73, which is a decrease of 19.28% year-on-year, accounting for 7.88% of operating revenue[6] - Research and development expenses for Q1 2024 were ¥5,512,772.73, a decrease of 19.3% from ¥6,829,459.68 in Q1 2023[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 4,404[12] - The company has not disclosed any changes in the shareholding structure of the top 10 shareholders or any related party transactions during the reporting period[14] Business Strategy and Expansion - The company established a subsidiary, Suzhou Ruiying Zhican Technology Co., Ltd., to engage in computing power leasing and AI software services, with an investment of approximately RMB 200 million and the procurement of over 60 computing power servers[15] - The company is actively pursuing new business strategies and market expansion through the establishment of new subsidiaries and investment in technology[15] Financial Management - The company reported non-recurring gains of ¥2,769,924.78 for the quarter, primarily from government subsidies and asset disposals[9] - The company did not apply new accounting standards or interpretations for the first time in 2024, which may affect future financial reporting[26] - The company’s management team includes Zhang Youzhi as the responsible person and Zhang Jianming as the head of accounting, ensuring accountability in financial reporting[26]