Financial Performance - Net profit attributable to shareholders for Q1 2024 was CNY 16,962,514.08, a decrease of 3.74% year-over-year[11] - Operating revenue for Q1 2024 was CNY 166,806,527.34, reflecting a growth of 2.84% compared to the same period last year[11] - The company reported a total comprehensive income of ¥24,856,089.41 for Q1 2024, compared to ¥18,582,040.21 in Q1 2023, indicating an increase of approximately 33.8%[37] - Operating profit for Q1 2024 was ¥32,663,198.71, compared to ¥22,035,372.82 in Q1 2023, showing an increase of approximately 48.3%[37] - Net profit for Q1 2024 was ¥24,858,835.63, up from ¥18,587,070.01 in Q1 2023, indicating a growth of approximately 33.5%[37] Assets and Liabilities - Total assets as of March 31, 2024, reached CNY 1,444,520,444.2, an increase of 4.85% compared to the end of 2023[11] - The company’s total liabilities to assets ratio (consolidated) increased to 29.96% from 27.28% year-over-year[11] - Total liabilities increased to CNY 432,721,392.08 from CNY 375,911,648.33, reflecting a rise of approximately 15.1%[32] - Total liabilities increased to ¥358,439,059.46 in 2024 from ¥284,023,397.20 in 2023, representing a growth of approximately 26.2%[35] - The total value of restricted assets amounts to 108,292,477.12 yuan, accounting for 7.50% of total assets[26] Cash Flow - The company's cash flow from operating activities showed a net outflow of CNY -5,435,952.17, a decline of 128.83% compared to the previous year[11] - Operating cash flow for the first three months of 2024 was negative at -5,435,952.17 yuan, compared to a positive cash flow of 18,854,840.64 yuan in the same period of 2023[41] - Total cash inflow from operating activities was 156,083,484.14 yuan, down from 177,338,751.93 yuan year-over-year[40] - Cash outflow from operating activities increased to 161,519,436.31 yuan, compared to 158,483,911.29 yuan in the previous year[40] - The ending cash and cash equivalents balance for the first quarter of 2024 was 134,385,072.64 yuan, compared to 216,445,935.42 yuan at the end of the first quarter of 2023[41] Investments and Financing - The company made a significant investment of CNY 27 million in Jiangsu Meige Wode Material Technology Co., Ltd., acquiring a 30% stake[12] - Short-term borrowings increased by 96.03% to CNY 193,700,000.00, mainly to supplement working capital[12] - Cash inflow from financing activities was 98,700,000.00 yuan, compared to 177,038,560.00 yuan in the previous year[41] - The net cash flow from financing activities was 63,908,259.13 yuan, down from 157,478,792.38 yuan year-over-year[41] - The company is planning a major asset restructuring, aiming to acquire 70% of Haicheng Haiming Mining Co., Ltd. for an estimated amount not exceeding 500 million yuan[26] Shareholder Information - The total number of shares outstanding is 165,540,000, with 32.75% being unrestricted shares held by controlling shareholders[17] - The largest shareholder, Bi Shengmin, holds 30,470,792 shares, representing 18.41% of the total shares[18] - The company has 7,950 common shareholders as of the end of the reporting period[17] - There are no pledges or judicial freezes on shares held by shareholders[21] - The company has no new commitments or violations of existing commitments during the reporting period[24] Research and Development - Research and development expenses decreased by 63.94% year-over-year to CNY 2,469,055.31[13] - Research and development expenses decreased significantly to ¥2,469,055.31 in Q1 2024 from ¥6,846,308.11 in Q1 2023, a reduction of about 64.1%[36] Market Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[36]
东和新材(839792) - 2024 Q1 - 季度财报