SNC Net(SH:605398)2024-04-26 11:39Financial Performance - The company's operating revenue for Q1 2024 was CNY 133,304,564.23, representing a year-on-year increase of 0.41%[5] - The net profit attributable to shareholders for the same period was CNY 9,306,431.56, reflecting a decrease of 26.00% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 8,578,776.78, down 27.46% year-on-year[5] - The basic and diluted earnings per share were both CNY 0.08, a decrease of 26.00% from the same period last year[5] - Net profit for Q1 2024 was CNY 9,312,517.07, a decrease of 26.3% from CNY 12,606,861.77 in Q1 2023[23] - Earnings per share for Q1 2024 were CNY 0.08, down from CNY 0.11 in Q1 2023[24] - The company reported a total comprehensive income of CNY 9,312,517.07 for Q1 2024, down from CNY 12,606,861.77 in Q1 2023[24] Cash Flow - The net cash flow from operating activities was negative at CNY -60,059,378.43, which is not applicable for year-on-year comparison[5] - The net cash flow from operating activities was -60,059,378.43 CNY, an improvement from -94,349,849.11 CNY in the previous year, indicating a 36.3% reduction in cash outflow[27] - Total cash inflow from operating activities was 117,356,106.91 CNY, compared to 103,877,276.35 CNY in the same period last year, reflecting a 12.0% increase[27] - The company reported a total cash outflow of 177,415,485.34 CNY from operating activities, which is a decrease of 10.5% compared to 198,227,125.46 CNY last year[27] - The cash inflow from investment activities was only 185.00 CNY, significantly lower than 10,023,593.33 CNY in the previous year, indicating a drastic decline[27] - The company received 403,546.49 CNY in tax refunds, compared to 150,046.84 CNY last year, which is a 168.5% increase[27] - The cash paid to employees was 117,304,751.94 CNY, slightly up from 113,707,837.88 CNY, reflecting a 4.2% increase in employee-related cash outflows[27] - The company experienced a negative impact of 197,638,959.18 CNY on cash and cash equivalents due to various activities, compared to -255,877,135.05 CNY last year, showing a 22.7% improvement[28] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,219,150,837.36, down 4.36% from the end of the previous year[6] - The equity attributable to shareholders was CNY 1,074,522,204.33, an increase of 0.87% compared to the end of the previous year[6] - As of March 31, 2024, total current assets amounted to ¥1,198,903,073.07, a decrease of 4.56% from ¥1,256,356,026.99 on December 31, 2023[18] - Total liabilities decreased to ¥139,354,317.44 from ¥206,361,783.78, a decline of 32.49%[19] - Total liabilities as of Q1 2024 were CNY 144,170,996.30, a decrease from CNY 209,000,272.93 in the previous year[20] - The company has no long-term borrowings or bonds payable as of the reporting date[19] Shareholder Information - The top shareholder, Sun Zhengyang, holds 18.55% of the shares, followed by Sun Zhenghan with 13.29%[14] - The company has not reported any significant changes in shareholder relationships or participation in margin financing[15] Operational Highlights - The company recognized non-recurring gains of CNY 727,654.78 during the period, after accounting for tax and minority interests[9] - The total amount of government subsidies recognized was CNY 530,000.00, which is related to the company's normal business operations[10] - Total operating costs for Q1 2024 were CNY 125,946,863.47, up 4.67% from CNY 120,197,430.31 in Q1 2023[22] - Research and development expenses increased to CNY 25,541,859.53 in Q1 2024, compared to CNY 18,392,902.13 in Q1 2023, reflecting a growth of 38.5%[23] - There are no new product developments or market expansion strategies mentioned in the report[16]