SJFW(SH:600616)2024-04-26 11:51Financial Performance - The company's operating revenue for Q1 2024 was ¥156,274,945.93, representing a year-on-year increase of 42.44%[3] - The net profit attributable to shareholders decreased by 97.99% to ¥2,672,875.64 compared to the same period last year[3] - Basic and diluted earnings per share both fell by 97.99% to ¥0.004[3] - The company reported a total profit of ¥350.35 million, down 98.02% year-on-year, primarily due to a lack of significant one-time gains from property acquisition in the previous year[7] - Total revenue for Q1 2024 reached ¥156,274,945.93, a 42.3% increase from ¥109,710,253.48 in Q1 2023[30] - Net profit for Q1 2024 was ¥2,369,014.38, compared to ¥131,857,125.09 in Q1 2023, indicating a significant decline[31] - Earnings per share for Q1 2024 were ¥0.004, down from ¥0.20 in Q1 2023[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,268,588,789.12, a decrease of 2.35% from the end of the previous year[3] - Total assets as of Q1 2024 were ¥2,268,588,789.12, a decrease from ¥2,323,141,208.36 at the end of the previous period[26] - Total liabilities for Q1 2024 amounted to ¥287,199,693.67, down from ¥344,121,127.29 in the previous period[26] - Shareholders' equity as of Q1 2024 was ¥1,981,389,095.45, slightly up from ¥1,979,020,081.07 in the previous period[27] Cash Flow - Cash flow from operating activities was reported at ¥465,596.62, with significant increases in cash receipts from sales compared to the previous year[9] - Cash flow from operating activities in Q1 2024 was ¥207,469,476.90, an increase from ¥161,765,419.41 in Q1 2023[33] - Net cash flow from operating activities was $465,596.62, a significant improvement from a net outflow of $48,127,332.66 in the previous year[34] - Cash inflow from financing activities was $31,000,000.00, which was not present in the previous year[34] - Cash outflow from financing activities amounted to $1,994,033.63, significantly lower than $33,216,125.41 in the previous year[35] Sales and Market Performance - The total sales revenue for the first quarter of 2024 reached RMB 15,339.29 million, representing a 44.02% increase compared to RMB 10,650.60 million in the same period of 2023[24] - Sales in Shanghai increased by 64.75% year-on-year, amounting to RMB 10,735.40 million, up from RMB 6,516.33 million[24] - The wholesale and agency sales channel experienced a 70.21% increase, generating RMB 12,553.99 million compared to RMB 7,375.44 million in the previous year[24] - The number of distributors increased to 821, with 12 new distributors added and 8 exiting during the reporting period[23] Inventory and Financial Assets - The inventory level was RMB 660,869,489.19, slightly down from RMB 673,108,661.25 at the end of 2023[25] - The company experienced a 49.37% decrease in trading financial assets due to the maturity of financial products during the reporting period[7] - The company’s financial assets decreased from RMB 161,145,855.02 to RMB 81,590,099.68 during the reporting period[25] Research and Development - Research and development expenses for Q1 2024 were ¥1,018,416.10, compared to ¥949,033.80 in Q1 2023, reflecting a focus on innovation[30] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 59,831[10] - The largest shareholder, Shanghai Sugar Tobacco and Alcohol Group Co., Ltd., holds 34.88% of the shares[11] Other Financial Metrics - The weighted average return on equity decreased by 6.60 percentage points to 0.13%[3] - The company reported a financial expense of -¥3,318,004.07 in Q1 2024, compared to -¥497,259.86 in Q1 2023, indicating increased financial costs[31] - The company is focusing on optimizing channel strategies and expanding its core market in Shanghai[22]