TTC(SH:600326)2024-04-26 10:47Financial Performance - The company's operating revenue for Q1 2024 was CNY 305.73 million, a decrease of 42.52% compared to CNY 531.89 million in Q1 2023[5] - The net profit attributable to shareholders for Q1 2024 was a loss of CNY 73.51 million, an improvement from a loss of CNY 84.55 million in the same period last year[11] - The net cash flow from operating activities for Q1 2024 was a negative CNY 114.65 million, indicating cash outflows[5] - Total revenue for Q1 2024 was 305.726 million RMB, down 42.5% from 531.888 million RMB in Q1 2023, with significant declines in the construction and building materials segments[27] - The net profit for Q1 2024 was a loss of ¥99.21 million, an improvement from a loss of ¥106.68 million in Q1 2023[39] - Basic and diluted earnings per share for Q1 2024 were both -¥0.0598, an improvement from -¥0.0918 in Q1 2023[39] Segment Performance - The construction segment's revenue decreased by CNY 85.55 million year-on-year, primarily due to the completion of major projects in the previous year[10] - The building materials segment's revenue fell by CNY 132.22 million, attributed to a decline in cement sales volume and average selling price[8] - The construction segment reported a revenue of 64.024 million RMB, a decrease of 57.2% from 149.577 million RMB year-on-year[27] - The building materials segment generated 241.223 million RMB in revenue, down 35.4% from 373.444 million RMB in the previous year[27] - The investment segment reported a profit of CNY 5.34 million, an increase of CNY 2.00 million compared to the previous year[11] - The investment segment saw a profit of 5.342 million RMB, an increase of 59.9% compared to 3.339 million RMB in Q1 2023[27] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 13.15 billion, down 4.10% from CNY 13.71 billion at the end of the previous year[6] - The total current assets as of March 31, 2024, were 7.135 billion RMB, down from 7.641 billion RMB at the end of 2023[34] - The total liabilities decreased to 7.667 billion RMB from 8.132 billion RMB year-on-year[35] - The total equity attributable to shareholders was 3.470 billion RMB, a decrease from 3.542 billion RMB in the previous year[36] - The total assets as of March 31, 2024, amounted to CNY 7,484,650,068.89, a decrease from CNY 7,774,390,719.33 at the end of 2023[48] - The total liabilities decreased to CNY 4,812,171,497.40 in Q1 2024 from CNY 5,073,661,121.25 in Q4 2023[48] Cash Flow - Cash flow from operating activities in Q1 2024 was a net outflow of ¥114.65 million, compared to a net outflow of ¥0.71 million in Q1 2023[43] - Cash received from sales of goods and services in Q1 2024 was ¥682.12 million, down 27.7% from ¥943.54 million in Q1 2023[42] - Cash paid for purchasing goods and services in Q1 2024 was ¥713.96 million, a decrease of 14.4% from ¥834.76 million in Q1 2023[43] - The net cash flow from financing activities was negative CNY 52,776,652.69 in Q1 2024, compared to a positive cash flow of CNY 1,020,430.29 in Q1 2023[44] - Total cash inflow from financing activities was 972,191,259.24 CNY, down from 1,347,065,092.65 CNY in Q1 2023, reflecting a 28% decrease[53] - The company experienced a net decrease in cash and cash equivalents of -238,448,802.97 CNY in Q1 2024, contrasting with an increase of 21,830,449.16 CNY in Q1 2023[53] Other Financial Metrics - The weighted average return on equity was -2.10%, an increase of 0.10 percentage points compared to the previous year[5] - Non-recurring gains and losses included government subsidies of CNY 707,182.87 and a loss from the disposal of non-current assets of CNY -5,982.30[16] - The company reported a 100% increase in credit impairment losses, reflecting the recovery of previously recognized bad debts[19] - The company experienced a 494.82% increase in non-operating expenses, mainly due to increased other expenditures by subsidiaries[19] - The company recovered 5 million RMB in receivables, which positively impacted net profit by 0.775 million RMB[28] - The company is facing challenges in project execution due to seasonal factors and policy restrictions affecting infrastructure project approvals[24]