YNCE(SH:600792)2024-04-26 11:32Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,864,298,562.66, representing a decrease of 1.20% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was a loss of CNY 122,879,575.20, with a basic and diluted earnings per share of -0.12 yuan[4]. - The company reported a net loss of CNY 224,862,657.22 for Q1 2024, compared to a net loss of CNY 101,983,082.02 in Q1 2023[20]. - The decline in net profit was mainly due to the downward trend in coke prices, which adversely affected product gross margins[8]. - Operating profit for Q1 2024 was a loss of CNY 123,811,768.75, compared to a loss of CNY 12,012,275.94 in Q1 2023[23]. - The basic earnings per share for Q1 2024 was -0.12 RMB, compared to -0.02 RMB in Q1 2023[24]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 10,809,172,904.26, an increase of 9.66% from the end of the previous year[5]. - Total assets as of March 31, 2024, reached CNY 10,809,172,904.26, compared to CNY 9,856,805,890.83 at the end of 2023[20]. - Total liabilities increased to CNY 7,534,536,320.15, up from CNY 6,460,396,288.53 year-over-year[20]. - The accounts payable increased by 31.64%, primarily due to the endorsement of bills for payment of goods[8]. - The company’s inventory as of March 31, 2024, was CNY 477,462,903.42, down from CNY 502,535,563.01 a year earlier[18]. Cash Flow - Cash flow from operating activities was CNY 101,322,047.06, with significant changes in various balance sheet items such as a 35.35% increase in cash and cash equivalents[4][8]. - The company experienced a decrease in cash flow from operating activities, with a net cash flow of 755.89 million, attributed to reduced payments for raw material coal procurement compared to the previous year[10]. - The total cash inflow from operating activities was 702,318,229.44 RMB, while total cash outflow was 600,996,182.38 RMB in Q1 2024[27]. - The company incurred a total of 475,771,643.53 RMB in cash payments for goods and services in Q1 2024, down from 965,427,849.19 RMB in Q1 2023[27]. - The net cash flow from investment activities was -22,552,315.52 RMB in Q1 2024, an improvement from -56,926,661.47 RMB in Q1 2023[28]. Revenue and Costs - Total revenue for Q1 2024 was CNY 1,864,298,562.66, a decrease of 1.4% compared to CNY 1,886,911,819.45 in Q1 2023[23]. - Total operating costs increased to CNY 1,972,900,357.54, up 3.4% from CNY 1,908,233,877.33 in the same period last year[23]. - Total revenue from sales in Q1 2024 was 646,029,502.62 RMB, down from 797,700,764.92 RMB in Q1 2023, reflecting a decrease of approximately 19%[27]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,250, with the largest shareholder, Kunming Steel Holding Co., Ltd., holding 60.19% of the shares[13]. - The company’s total share capital increased to 1,109,923,600 shares following a private placement of 120 million shares on April 24, 2024[14]. Other Financial Metrics - The weighted average return on net assets was -3.76%, indicating a decline due to lower product gross margins from falling coke prices[4][8]. - Non-recurring gains and losses totaled CNY 4,027,984.90, with significant contributions from asset disposal and government subsidies[8]. - The company confirmed an investment income of 1.55 million from the transfer of 100% equity in Jinshan Coal Mine, which was completed on March 21, 2024[16]. - The company’s tax expenses rose to 69.14 million, primarily due to increased property and land use taxes related to the 2 million tons coking project[10]. - Research and development expenses for Q1 2024 were CNY 3,150,255.95, an increase from CNY 2,833,543.95 in Q1 2023[23].