Financial Performance - The company's revenue for Q1 2024 was ¥131,932,438.14, representing a 0.73% increase compared to ¥130,979,595.80 in the same period last year[3] - Net profit attributable to shareholders for Q1 2024 was ¥28,664,145.15, a 6.60% increase from ¥26,888,242.13 in Q1 2023[3] - The net profit after deducting non-recurring gains and losses was ¥24,912,596.30, up 9.52% from ¥22,746,567.88 in the previous year[3] - Total operating revenue for Q1 2024 was CNY 131,932,438.14, a slight increase of 0.73% compared to CNY 130,979,595.80 in Q1 2023[16] - Total operating costs decreased to CNY 98,867,013.30, down 2.57% from CNY 101,127,468.41 in the previous year[16] - Net profit for Q1 2024 reached CNY 28,664,145.15, representing a growth of 6.67% from CNY 26,888,242.13 in Q1 2023[17] - Earnings per share (EPS) for Q1 2024 was CNY 0.19, up from CNY 0.18 in the same period last year[17] Cash Flow and Assets - The net cash flow from operating activities was -¥396,794.26, a significant decrease of 102.17% compared to ¥18,261,506.38 in Q1 2023[3] - Cash flow from operating activities showed a net outflow of CNY 396,794.26, a significant decline from a net inflow of CNY 18,261,506.38 in Q1 2023[18] - Cash flow from investing activities generated a net inflow of CNY 31,421,484.34, compared to a net outflow of CNY 29,656,378.15 in the previous year[18] - The company reported a cash and cash equivalents balance of CNY 200,991,098.80 at the end of Q1 2024, compared to CNY 170,623,507.72 at the end of Q1 2023[19] - The company's cash and cash equivalents increased to CNY 201,401,876.66 from CNY 170,348,709.40, representing a growth of approximately 18.5%[12] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥1,065,530,423.46, down 0.83% from ¥1,074,440,453.60 at the end of the previous year[3] - Total current liabilities decreased significantly from CNY 98,866,992.19 to CNY 61,017,677.71, a reduction of about 38.4%[13] - Total liabilities decreased to CNY 61,912,335.81 from CNY 99,806,271.69 year-over-year[17] - Shareholders' equity attributable to the parent company increased by 2.97% to ¥1,003,618,087.65 from ¥974,634,181.91 at the end of the previous year[3] - Total equity attributable to shareholders increased to CNY 1,003,618,087.65, up from CNY 974,634,181.91 in Q1 2023[17] Investments and Acquisitions - The company successfully acquired a 34% stake in Qingdao Huakun Biotechnology Co., Ltd. for CNY 13,049,100, with the acquisition completed on April 22, 2024[10] - The company paid a project guarantee deposit of CNY 6,524,600 for the acquisition of the stake in Qingdao Huakun Biotechnology Co., Ltd.[10] - The company reported a total of CNY 751,466,926.04 in trading financial assets, slightly down from CNY 762,076,841.08[12] - Investment income for Q1 2024 was ¥4,166,409.47, a substantial increase of 410.62% from ¥815,948.64 in the same period last year[6] Operational Changes - The company reported a significant increase in prepayments by 168.27% to ¥1,568,015.56, primarily due to increased advance payments for materials and promotional expenses[6] - Inventory levels decreased from CNY 26,064,134.00 to CNY 19,136,714.25, reflecting a decline of approximately 26.6%[12] - Accounts payable dropped from CNY 52,521,140.01 to CNY 26,398,753.30, a decrease of about 49.8%[13] - Non-current assets increased from CNY 62,027,486.90 to CNY 74,205,678.52, marking an increase of approximately 19.6%[13] - The company’s other non-current assets rose significantly from CNY 2,899,299.12 to CNY 15,948,399.12, indicating a substantial increase of approximately 451.5%[13] Future Outlook and Reporting - The company plans to continue focusing on market expansion and new product development in the upcoming quarters[18] - The first quarter report for Qingdao Food Co., Ltd. is unaudited[20] - The new accounting standards will be implemented starting in 2024[20] - The financial statement adjustments related to the new accounting standards will be reflected at the beginning of the year[20] - The board of directors of Qingdao Food Co., Ltd. issued the report on April 27, 2024[20]
青岛食品(001219) - 2024 Q1 - 季度财报