Financial Performance - Net profit attributable to shareholders decreased by 45.61% to CNY 8,827,387.35, primarily due to a decline in sales revenue[11] - Operating income fell by 47.14% to CNY 28,062,197.23, attributed to weakened downstream demand in the lithium battery industry[11] - The company's gross profit margin decreased by 6.95 percentage points to 31.51% due to lower production and delivery volumes[15] - Total operating revenue for Q1 2024 was CNY 28,062,197.23, a decrease from CNY 53,087,811.92 in Q1 2023[36] - Operating profit for Q1 2024 was 3,474,155.48, down 73.3% from 13,033,407.62 in Q1 2023[41] - Net profit for Q1 2024 was CNY 8,827,387.35, compared to CNY 16,231,197.87 in Q1 2023, reflecting a decline of approximately 45.5%[38] - The total comprehensive income for Q1 2024 was 8,524,963.94, compared to 15,997,188.67 in Q1 2023[42] Assets and Liabilities - Total assets increased by 5.62% to CNY 328,700,491.77 compared to the end of last year[11] - Total assets increased to CNY 328.70 million as of March 31, 2024, up from CNY 311.20 million at the end of 2023, representing a growth of 5.4%[30] - Total liabilities decreased to CNY 42.85 million from CNY 51.17 million, a reduction of 16.5%[32] - The company's equity attributable to shareholders increased to CNY 285.85 million, up from CNY 260.03 million, reflecting a growth of 9.9%[32] - The company's accounts receivable stood at CNY 23.18 million, slightly down from CNY 23.55 million, indicating a decrease of 1.6%[30] - Inventory decreased to CNY 30.14 million from CNY 33.32 million, a decline of 9.0%[30] Cash Flow - Cash flow from operating activities increased by 21.53% to CNY 5,010,113.17, mainly due to reduced bonuses for sales and management personnel[13] - Cash flow from operating activities for Q1 2024 was 5,010,113.17, an increase of 21.6% from 4,122,472.42 in Q1 2023[43] - Cash flow from investing activities for Q1 2024 was -86,712,136.35, significantly worse than -12,735,787.28 in Q1 2023[45] - Cash inflow from financing activities rose to $16,809,644.70 from $13,010,000.00, showing improved capital raising efforts[47] Shareholder Information - The total number of ordinary shares increased from 68,481,300 to 70,790,000, reflecting a change of 2,308,700 shares[19] - The proportion of unrestricted shares increased from 23.51% to 24.79% during the reporting period[19] - Major shareholders include Wu Wangrui with 21,150,000 shares (29.88%) and Tong Zhiping with 14,400,000 shares (20.34%) [21] - There are no reported pledges or judicial freezes on shares held by major shareholders [23] Future Outlook and Strategy - The company anticipates gradual optimization of the supply-demand landscape in the domestic lithium battery industry in 2024, with new product development expected to drive demand for magnetic filtration equipment[15] - The company plans to enhance management and production efficiency following the successful implementation of the new ERP system[15] - The company is actively expanding into the chemical and food industries, with plans to continue promoting automation equipment in these sectors in 2024 [16] - The company established a new sales team in Xiamen in 2024 to enhance market outreach [16] - The company plans to focus on market expansion and new product development in the upcoming quarters[36] Research and Development - Research and development expenses for Q1 2024 were CNY 1,927,182.02, an increase from CNY 1,476,676.93 in Q1 2023[36] - Research and development expenses for Q1 2024 were 1,927,182.02, an increase of 30.5% from 1,476,676.93 in Q1 2023[41] ERP System Upgrade - The company upgraded its ERP system to SAP S/4 HANA, which caused temporary disruptions in production and delivery, impacting sales revenue[15]
西磁科技(836961) - 2024 Q1 - 季度财报