FOTON(SH:600166)2024-04-26 12:12Financial Performance - The company's operating revenue for Q1 2024 was CNY 12,869,741,480, a decrease of 14.05% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 256,154,462, down 13.96% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 19.04%, driven by increased R&D investment in new energy products and core components[8] - The basic earnings per share for the reporting period was CNY 0.032, a decrease of 15.79% year-on-year[9] - The company reported a net profit of ¥252,572,964.23 for Q1 2024, a decline of 26.9% from ¥345,712,431.58 in Q1 2023[19] - The total comprehensive income for Q1 2024 was CNY 260,780,590.70, down from CNY 298,171,231.07 in Q1 2023, reflecting a decline of 12.6%[20] Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 845,584,938.51, a decline of 177.28% compared to the previous year[4] - Cash flow from operating activities showed a net outflow of CNY -845,584,938.51 in Q1 2024, contrasting with a net inflow of CNY 1,094,246,748.99 in Q1 2023[22] - Cash flow from investing activities resulted in a net outflow of CNY -177,579,105.35 in Q1 2024, compared to a net inflow of CNY 279,180,960.71 in Q1 2023[23] - Cash flow from financing activities generated a net inflow of CNY 3,173,694,422.24 in Q1 2024, significantly higher than the net outflow of CNY -452,986,157.15 in Q1 2023[23] - The total cash and cash equivalents at the end of Q1 2024 amounted to CNY 5,679,106,065.32, down from CNY 7,871,547,974.77 at the end of Q1 2023[23] - The company received CNY 7,967,004,999.27 in cash from sales of goods and services in Q1 2024, a decrease of 11.7% from CNY 9,019,582,518.55 in Q1 2023[22] Assets and Liabilities - The total assets at the end of the reporting period were CNY 51,882,568,758.48, an increase of 15.59% from the end of the previous year[5] - Total liabilities rose to ¥37,172,712,763.03 in Q1 2024, up 21.5% from ¥30,479,420,280.28 in Q1 2023[18] - The company's total inventory as of March 31, 2024, was RMB 7,083,897,066.97, up from RMB 5,850,611,021.96 at the end of 2023, reflecting an increase of approximately 21%[16] - The accounts receivable increased to RMB 7,338,929,757.62 from RMB 4,674,954,262.73, showing a growth of about 57%[16] - The company reported a total of RMB 1,002,580,156.88 in financing receivables, a significant increase from RMB 55,470,584.63 in the previous period[16] Shareholder Information - The equity attributable to shareholders increased by 1.99% to CNY 14,516,163,240.67 compared to the end of the previous year[5] - The total amount of shares held by the largest shareholder, Beijing Automotive Group Co., Ltd., is 1,805,288,934 shares, representing a significant portion of the company's equity[11] - The company has repurchased a total of 86,363,108 shares, accounting for 1.08% of the total share capital, with an average repurchase price of RMB 3.45 per share[15] - The company’s stock repurchase program has been a strategic move to enhance shareholder value amidst market fluctuations[15] Research and Development - Research and development expenses increased to ¥548,036,562.39 in Q1 2024, up 30.1% from ¥421,368,175.96 in Q1 2023[19] - The company plans to continue focusing on R&D and market expansion strategies to drive future growth[19] Operational Performance - The company sold 155,000 vehicles in Q1 2024, a decrease of 3.25% year-on-year, primarily due to a decline in sales of buses and medium-heavy trucks[8] - Total operating costs for Q1 2024 were ¥12,811,863,614.47, down 13.6% from ¥14,835,736,993.04 in Q1 2023[19] - The company is focusing on cost reduction across the entire value chain, which has positively impacted gross margin and sales expense ratio[8] Other Comprehensive Income - The company reported a decrease in other comprehensive income after tax to CNY 21,750,977.70 in Q1 2024, compared to CNY 1,065,030.00 in Q1 2023[20] - The company reported a decrease in non-recurring gains and losses, mainly due to the impact of the previous year's transfer of equity in Beijing Zhiyue Engine[8]