THGW(SH:600365)2024-04-26 10:58Financial Performance - The company's operating revenue for Q1 2024 was CNY 244,654,798.55, representing an increase of 8.22% compared to the same period last year[5]. - The net profit attributable to shareholders was CNY 2,464,331.26, with a significant improvement in performance due to various measures taken by the company[5][10]. - The basic earnings per share (EPS) was CNY 0.01, with diluted EPS also reported at CNY 0.01[6]. - Net profit for Q1 2024 was CNY 2,461,063.27, a significant recovery from a net loss of CNY 9,208,933.27 in Q1 2023[23]. - The total equity attributable to shareholders increased to CNY 314,187,364.99 in Q1 2024 from CNY 307,948,127.45 in Q1 2023, reflecting improved financial health[22]. - The total comprehensive income for Q1 2024 was -6,620,875.82 RMB, compared to -15,654,785.93 RMB in Q1 2023, indicating an improvement[34]. Cash Flow - The net cash flow from operating activities was negative at CNY -100,964,132.12, indicating challenges in cash generation during the quarter[5]. - Cash inflow from operating activities in Q1 2024 was 18,410,796.59 RMB, up from 13,556,237.77 RMB in Q1 2023, representing a 36.5% increase[37]. - Cash outflow from operating activities in Q1 2024 was 19,468,480.38 RMB, compared to 13,655,883.36 RMB in Q1 2023, reflecting a 42.5% increase[37]. - Net cash flow from operating activities for Q1 2024 was -1,057,683.79 RMB, worsening from -99,645.59 RMB in Q1 2023[37]. - The company reported a net cash outflow from investing activities of CNY -398,270.90 in Q1 2024[27]. - The net cash flow from financing activities for Q1 2024 was CNY 91,578,377.19, an increase from CNY 59,319,352.92 in Q1 2023[27]. Assets and Liabilities - Total assets decreased by 9.49% to CNY 809,807,689.18 from CNY 894,744,313.19 at the end of the previous year[6]. - The total liabilities decreased to CNY 495,467,619.59 in Q1 2024 from CNY 586,640,213.15 in Q1 2023, indicating a reduction in financial obligations[22]. - The company’s total liabilities as of March 31, 2024, were CNY 303,167,285.83, compared to CNY 300,354,878.62 at the end of 2023[32]. - The total current assets as of March 31, 2024, amounted to CNY 334,062,109.19, slightly up from CNY 333,126,306.16 at the end of 2023[30]. Shareholder Information - The top ten shareholders hold a combined 43.5% of the total shares, with Jilin Province Jixiang Jiade Investment Co., Ltd. being the largest shareholder at 10.08%[14]. - The company has not reported any changes in the participation of major shareholders in securities lending or margin trading activities[14]. Operational Efficiency - The company implemented multiple measures to enhance revenue and reduce costs, leading to a turnaround in profitability during the quarter[10]. - Research and development expenses increased to CNY 898,360.36 in Q1 2024, up from CNY 314,493.95 in Q1 2023, indicating a focus on innovation[22]. - Sales expenses decreased to CNY 13,027,268.38 in Q1 2024 from CNY 18,100,818.15 in Q1 2023, showing improved cost management[22]. Legal Matters - The company has recognized a provision for liabilities amounting to RMB 74,710,902.89 related to a legal dispute with Dalian Dinghua International Trade Co., Ltd.[15]. - The company is currently in the pre-litigation mediation phase regarding a lawsuit against former controlling shareholder Yin Bing for compensation of losses[16].