联泓新科(003022) - 2024 Q1 - 季度财报

Financial Performance - In Q1 2024, the company achieved operating revenue of CNY 1,487,139,708.13, a decrease of 5.64% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 51,436,308.79, representing a significant decline of 65.05% year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 5,660,404.98, down 80.70% from the previous year[4] - The company reported a net cash flow from operating activities of CNY 26,657,969.16, a decrease of 72.94% compared to the same period last year[4] - The company experienced a 46.90% decrease in government subsidies, impacting overall profitability[8] - The company’s weighted average return on equity decreased to 0.72%, down from 2.10% in the previous year[4] - Total operating revenue for the current period is ¥1,487,139,708.13, a decrease of 5.63% from ¥1,576,009,466.45 in the previous period[18] - Net profit for the current period is ¥52,353,020.65, a decline of 65.05% compared to ¥149,902,642.09 in the previous period[18] - Total profit for the current period is ¥69,813,933.91, down 61.32% from ¥179,945,557.23 in the previous period[18] - Basic earnings per share for the current period is ¥0.04, down from ¥0.11 in the previous period[19] Cash Flow and Financing - The net cash flow from operating activities for Q1 2024 was ¥26,657,969.16, a decrease of 72.94% compared to ¥98,506,299.75 in Q1 2023[9] - The net cash flow from financing activities increased by 115.97% to ¥1,386,120,765.36 in Q1 2024, up from ¥641,819,930.45 in Q1 2023, attributed to increased bank loans for new project investments[9] - The company reported a significant increase in management expenses to ¥105,932,262.91, up from ¥81,805,395.77, representing a rise of 29.49%[18] - The total cash outflow from investing activities was $558,755,038.74, an increase of 28.8% from $433,709,675.20 in the prior period[21] - The net cash flow from financing activities was $1,386,120,765.36, up 116.5% from $641,819,930.45 in the previous period[21] - The cash flow from operating activities showed a total outflow of $1,767,969,203.42, down from $1,860,374,432.86 in the previous period[21] Assets and Liabilities - The company’s total assets increased by 8.38% to CNY 18,451,825,494.34 compared to the end of the previous year[4] - Current assets rose to CNY 5,214,555,936.91, up from CNY 4,020,900,300.24, indicating a growth of about 29.7%[16] - Cash and cash equivalents increased significantly to CNY 3,604,884,451.77 from CNY 2,500,268,846.96, representing a growth of approximately 44.3%[16] - Total liabilities increased to CNY 10,586,192,433.76 from CNY 9,194,640,033.89, marking an increase of around 15.1%[17] - Long-term borrowings surged to CNY 4,271,813,868.89 from CNY 2,900,260,505.56, reflecting an increase of approximately 47.3%[17] - The company's equity attributable to shareholders rose to CNY 7,175,922,767.84 from CNY 7,121,527,565.22, showing a slight increase of about 0.76%[17] New Projects and Developments - The new 90,000 tons/year ethylene vinyl acetate (EVA) plant started successful operations in January 2024, contributing to stable production[3] - A new 20,000 tons/year ultra-high molecular weight polyethylene plant began trial operations at the end of March 2024[3] - The company plans to launch multiple new high-margin product lines throughout 2024, enhancing its product portfolio[3] - The company is in the process of issuing A-shares to specific investors to raise funds for its integrated project in new energy materials and biodegradable materials, currently under review by the Shenzhen Stock Exchange[14] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 65,064, with the largest shareholder, Lianhong Group Co., Ltd., holding 51.77% of shares[10] - China Academy of Sciences Holdings Co., Ltd. held 25.27% of shares, making it the second-largest shareholder[10] - The top ten shareholders collectively hold significant portions of the company, with the top three shareholders accounting for over 80% of the total shares[10] Certifications and R&D - The company received high-tech enterprise certification in January 2024, which will allow it to enjoy tax benefits from 2023 to 2025, enhancing its R&D capabilities and competitive position[15] - The company’s subsidiary, Lianhong (Jiangsu) New Materials Research Institute Co., Ltd., also received high-tech enterprise certification in February 2024[15] - The company plans to leverage its high-tech status to accelerate the transformation of technological achievements and enhance overall competitiveness[15] Other Financial Metrics - Research and development expenses increased to ¥87,709,260.58, up from ¥73,749,422.79 in the previous period, reflecting a growth of 18.91%[18] - Tax expenses for the current period are ¥17,460,913.26, a decrease of 41.93% from ¥30,042,915.14 in the previous period[18] - Other income decreased significantly to ¥73,928,315.46 from ¥139,220,110.75, a decline of 46.94%[18] - The company did not undergo an audit for the first quarter report[22]