QCMC(SH:600229)2024-04-26 12:47Financial Performance - The company's operating revenue for Q1 2024 was CNY 665,203,708.23, representing a year-on-year increase of 4.37%[2] - The net profit attributable to shareholders decreased by 9.66% to CNY 87,451,468.22 compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 46.26% to CNY 51,534,173.42, primarily due to the expiration of the corporate income tax exemption policy[5] - Net profit for Q1 2024 was CNY 87,013,305.82, a decrease of 9.1% from CNY 96,409,276.55 in Q1 2023[16] - The total comprehensive income for Q1 2024 was CNY 87,013,305.82, compared to CNY 96,409,276.55 in Q1 2023, reflecting a decrease of 9.1%[16] Cash Flow - The net cash flow from operating activities was negative at CNY -188,520,229.26, indicating cash outflow during the period[2] - The net cash flow from operating activities for Q1 2024 was -188,520,229.26 CNY, compared to -102,220,084.47 CNY in Q1 2023, indicating a decline in operational cash flow[19] - Total cash inflow from operating activities was 381,483,244.78 CNY, down from 443,537,588.90 CNY year-over-year[19] - Cash outflow from operating activities increased to 570,003,474.04 CNY from 545,757,673.37 CNY in the previous year[19] - The net cash flow from investing activities was -3,259,199.61 CNY, compared to -1,070,202.25 CNY in Q1 2023, reflecting increased investment expenditures[19] - The net cash flow from financing activities was -5,212,074.90 CNY, compared to -4,836,171.28 CNY in Q1 2023, indicating a slight increase in financing costs[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,501,932,721.06, an increase of 1.81% from the end of the previous year[2] - Current assets totaled RMB 2,591,376,897.06, compared to RMB 2,526,103,456.53 at the end of 2023, indicating an increase of about 2.6%[12] - Cash and cash equivalents decreased to RMB 1,143,830,420.18 from RMB 1,344,756,216.92, representing a decline of approximately 14.9%[11] - Total liabilities as of Q1 2024 amounted to CNY 1,128,664,806.95, slightly down from CNY 1,135,542,428.96 in the previous year[15] - The company reported a significant increase in accounts payable, which rose to RMB 586,097,805.90 from RMB 560,874,471.26, an increase of about 4.5%[12] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 40,646[6] - The largest shareholder, Qingdao Publishing Group Co., Ltd., held 55.75% of the shares, totaling 374,191,691 shares[7] - The company has a total of 10,500,216 shares held in its repurchase account, which are not included in the top ten shareholders[8] - The report indicates no changes in the top ten shareholders due to the absence of borrowing or lending activities related to share trading[10] Research and Development - Research and development expenses increased by 33.28% compared to the same period last year, reflecting higher investment in R&D activities[5] - Research and development expenses for Q1 2024 were CNY 1,093,350.67, compared to CNY 820,322.86 in Q1 2023, indicating a significant increase of 33.2%[15] Tax and Other Income - The company reported a significant increase of 389.68% in payable taxes due to changes in tax incentive policies[5] - Other income for Q1 2024 was CNY 35,841,883.09, a substantial rise from CNY 993,159.90 in Q1 2023[15] - The company reported a credit impairment loss of CNY -16,912,024.63 in Q1 2024, worsening from CNY -11,993,091.05 in Q1 2023[15] Inventory and Receivables - Accounts receivable rose significantly to RMB 698,682,783.86 from RMB 433,569,804.59, marking an increase of around 60.9%[11] - Inventory decreased slightly to RMB 633,462,159.09 from RMB 651,185,734.99, a reduction of about 2.7%[12]