S-KING(SH:688328)2024-04-26 13:01Financial Performance - The company's operating revenue for Q1 2024 was ¥85,854,840.53, representing a decrease of 42.60% compared to the same period last year[4]. - The net profit attributable to shareholders was -¥25,823,814.31, a decline of 46.05% year-over-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥26,892,990.98, down 35.98% from the previous year[4]. - Total revenue for Q1 2024 was 112,290,514 RMB, a decrease from 173,587,279 RMB in Q1 2023, representing a decline of approximately 35.3%[18]. - Net profit for Q1 2024 was -28,060,886 RMB, compared to -16,016,232 RMB in Q1 2023, indicating a worsening of 75.8% year-over-year[19]. - The company’s total comprehensive income for Q1 2024 was -28,060,886 RMB, compared to -16,016,232 RMB in Q1 2023, reflecting a decline of 75.8%[19]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥40,588,939.64, reflecting a decrease of 126.86% compared to the previous period[5]. - Operating cash flow for Q1 2024 was -40,588,940 RMB, compared to -17,891,858 RMB in Q1 2023, reflecting a significant increase in cash outflow[22]. - Cash and cash equivalents decreased to RMB 121,904,063.18 from RMB 146,933,116.96, reflecting a decline of 17.0%[13]. - Cash and cash equivalents at the end of Q1 2024 were 96,493,472 RMB, down from 157,923,808 RMB at the end of Q1 2023, a decrease of 38.8%[23]. - The company experienced a net cash outflow from investing activities of -11,149,959 RMB in Q1 2024, an improvement from -117,245,271 RMB in Q1 2023[23]. Research and Development - Research and development expenses totaled ¥18,450,914.29, accounting for 21.49% of operating revenue, an increase of 6.35 percentage points[5]. - Research and development expenses for Q1 2024 were 18,450,914 RMB, down from 22,649,480 RMB in Q1 2023, a reduction of 18.8%[18]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,646,848,454.78, a slight decrease of 0.52% from the end of the previous year[5]. - Total assets decreased to RMB 1,646,848,454.78 from RMB 1,655,466,481.30, a decline of 0.5%[15]. - Total liabilities decreased to RMB 621,015,927.48 from RMB 706,189,844.45, a reduction of 12.1%[15]. - Shareholders' equity attributable to the parent company increased by 8.97% to ¥960,933,185.74 compared to the end of the previous year[5]. - Shareholders' equity increased to RMB 1,025,832,527.30 from RMB 949,276,636.85, an increase of 8.0%[15]. Orders and Revenue Decline - The decline in revenue was attributed to insufficient orders received in the second half of 2023 and lower-than-expected order acceptance in the current reporting period[8].