Tianneng Battery (SH:688819)2024-04-26 11:11Financial Performance - The company's operating revenue for Q1 2024 was ¥9,328,480,253.19, representing a decrease of 13.24% compared to the same period last year[4]. - Net profit attributable to shareholders was ¥502,489,763.96, down 18.64% year-over-year[4]. - The net profit after deducting non-recurring gains and losses was ¥149,187,420.85, a significant decline of 71.95% compared to the previous year[4]. - The net profit for Q1 2024 is approximately ¥507.64 million, a decrease of 15% compared to ¥596.01 million in Q1 2023[21]. - The total operating profit for Q1 2024 is approximately ¥619.81 million, down from ¥764.82 million in Q1 2023[21]. - The company reported a total comprehensive income of approximately ¥507.64 million for Q1 2024, down from ¥596.01 million in Q1 2023[21]. - Basic earnings per share for Q1 2024 is ¥0.52, compared to ¥0.64 in Q1 2023[21]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 997.67%, reaching ¥2,049,507,867.62[4]. - The cash flow from operating activities for Q1 2024 is approximately ¥2.05 billion, significantly higher than ¥186.71 million in Q1 2023[23]. - The company experienced a net cash inflow from financing activities of approximately ¥2.90 billion in Q1 2024, compared to ¥2.74 billion in Q1 2023[23]. - The cash flow from investing activities for Q1 2024 shows a net outflow of approximately ¥911.70 million, an improvement from a net outflow of ¥1.20 billion in Q1 2023[23]. - As of March 31, 2024, the company's cash and cash equivalents amounted to RMB 18,004,908,296.28, an increase from RMB 11,335,772,799.80 as of December 31, 2023, representing a growth of approximately 59.3%[15]. - The cash and cash equivalents at the end of Q1 2024 amount to approximately ¥10.34 billion, an increase from ¥8.22 billion at the end of Q1 2023[24]. Assets and Liabilities - Total assets at the end of the reporting period were ¥43,210,797,144.31, reflecting a year-over-year increase of 20.59%[5]. - Total assets as of Q1 2024 reached ¥43,210,797,144.31, up from ¥35,831,963,205.83 in Q1 2023, showing growth in asset base[18]. - Total liabilities increased to ¥27,063,663,136.01 in Q1 2024 from ¥20,213,292,544.60 in Q1 2023, indicating higher leverage[17]. - The company reported trading financial assets of RMB 430,000,000.00, which is an increase from RMB 220,000,000.00 at the end of 2023, showing a growth of 95.5%[15]. - The total amount of receivables, including notes and accounts receivable, was RMB 3,131,803,108.97 as of March 31, 2024, compared to RMB 3,719,547,950.04 at the end of 2023, reflecting a decrease of approximately 15.8%[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,475[10]. - The largest shareholder, Tianneng Holdings Group, held 796,000,000 shares, representing 81.88% of the total shares[10]. Research and Development - Research and development expenses totaled ¥399,776,596.10, accounting for 4.29% of operating revenue, an increase of 0.79 percentage points[5]. - Research and development expenses increased to ¥399,776,596.10 in Q1 2024, compared to ¥376,527,262.03 in Q1 2023, indicating a focus on innovation[19]. Strategic Initiatives - The company is focusing on market expansion and new product development as part of its strategic initiatives for future growth[19]. - The company plans to repurchase shares using RMB 50 million to 100 million of its own funds at a price not exceeding RMB 41.82 per share, with the decision to be made based on market conditions within the next 12 months[14]. - The company has completed the opening of a dedicated securities account for share repurchase but has not yet implemented the buyback[14].