SMEIC(SH:600835)2024-04-26 12:25Financial Performance - Total operating revenue for Q1 2024 was CNY 4,311,142,142.36, a decrease of 5.01% compared to CNY 4,538,573,542.18 in Q1 2023[16] - Net profit attributable to shareholders for Q1 2024 was CNY 212,299,141.97, down 8.08% from the previous year[25] - The company reported a decrease in cash inflow from sales of goods and services, totaling $4.38 billion, down from $5.73 billion[38] - Net profit for the first quarter of 2024 was $323.32 million, down from $353.09 million, representing a decline of about 8.4%[36] - Total profit decreased to $372.99 million from $411.91 million, a decrease of approximately 9.4%[36] - Operating profit fell to $369.08 million from $412.80 million, a decline of about 10.6%[36] Cash Flow - The net cash flow from operating activities for Q1 2024 was a negative CNY 218,134,602.52, indicating a cash outflow[25] - Cash flow from operating activities showed a net outflow of $218.13 million, compared to a net outflow of $18.13 million in the previous year[38] - Cash and cash equivalents at the end of the period were $8.09 billion, down from $7.51 billion year-over-year[40] - Investment activities resulted in a net cash outflow of $113.60 million, compared to a net outflow of $690.41 million in the previous year[38] - Financing activities generated a net cash outflow of $5.73 million, contrasting with a net inflow of $11.15 million in the same quarter last year[40] Assets and Liabilities - Total assets as of March 31, 2024, were CNY 37,484,698,280.96, reflecting a 0.72% increase from CNY 37,216,779,586.83 at the end of the previous year[25] - Total liabilities decreased slightly to CNY 20.96 billion from CNY 21.01 billion, a reduction of about 0.2%[33] - The company's total liabilities decreased by 5.61% in Q1 2024, primarily due to a reduction in operating costs associated with lower sales[27] - Current assets totaled CNY 31.02 billion, compared to CNY 30.70 billion in the previous period, reflecting an increase of about 1.0%[32] - Inventory rose to CNY 8.38 billion, up from CNY 8.34 billion, indicating a growth of approximately 0.5%[32] - Shareholders' equity increased to CNY 16.52 billion, compared to CNY 16.21 billion, marking a growth of approximately 1.9%[34] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 61,878, with the largest shareholder holding 48.02% of the shares[28] - The company has maintained a stable dividend policy, with payable dividends reported at CNY 12.18 million, down from CNY 34,769.98[33] Research and Development - R&D expenses decreased to $108.66 million from $124.02 million, a reduction of approximately 12.4%[36] Other Income - Non-operating income from the disposal of non-current assets amounted to ¥1,635,886.73[42] - Government subsidies recognized in the current period, closely related to normal business operations, totaled ¥6,263,835.20[42] - Fair value changes and disposal gains from financial assets and liabilities resulted in ¥1,848,851.75[42] - Other non-operating income and expenses, excluding the above items, amounted to ¥3,909,372.74[42] - The total impact after tax and minority interests was ¥8,263,381.26[42] Market Strategy - The company continues to focus on expanding its market presence and enhancing product development, although specific new products or technologies were not detailed in the provided data[31]