ECOVACS(SH:603486)2024-04-26 13:22Financial Performance - The company's operating revenue for Q1 2024 was CNY 3,474,106,919.34, representing a year-on-year increase of 7.35%[4] - The net profit attributable to shareholders decreased by 8.71% to CNY 297,737,146.51 compared to the same period last year[4] - The net profit excluding non-recurring gains and losses was CNY 286,546,648.78, showing a slight increase of 0.26%[4] - The basic earnings per share for the period was CNY 0.52, a decrease of 10.34% year-on-year[5] - The weighted average return on equity was 4.45%, a decrease of 0.50 percentage points compared to the previous year[5] - Total operating revenue for Q1 2024 reached ¥3,474,106,919.34, an increase of 7.36% compared to ¥3,236,120,000.36 in Q1 2023[16] - Net profit for Q1 2024 was ¥297,911,289.00, a decrease of 8.66% from ¥326,141,679.14 in Q1 2023[17] - Basic earnings per share for Q1 2024 were ¥0.52, down from ¥0.58 in Q1 2023[17] - The total comprehensive income for Q1 2024 was ¥352,852,377.52, an increase from ¥310,223,826.49 in Q1 2023[17] Cash Flow - The net cash flow from operating activities was CNY 80,905,827.12, a significant increase of 382.80% year-on-year[5] - Cash inflow from operating activities for Q1 2024 was approximately $3.84 billion, a decrease of 4.4% compared to $4.02 billion in Q1 2023[18] - Net cash flow from operating activities increased to approximately $80.91 million, compared to $16.76 million in the same period last year[18] - Cash outflow for purchasing goods and services was approximately $2.02 billion, down from $2.28 billion in Q1 2023, reflecting a decrease of 11.6%[18] - Net cash flow from investing activities was negative at approximately -$718.19 million, worsening from -$393.55 million in Q1 2023[19] - Cash inflow from financing activities totaled approximately $815 million, slightly up from $810 million in Q1 2023[19] - Cash outflow for debt repayment increased significantly to $420 million from $40 million in the previous year[19] - The ending cash and cash equivalents balance for Q1 2024 was approximately $4.83 billion, an increase from $4.27 billion in Q1 2023[19] - The company reported a decrease in tax refunds received, totaling approximately $59.77 million compared to $71.60 million in Q1 2023[18] - Cash received from other operating activities increased significantly to approximately $50.29 million from $21.74 million in the previous year[18] Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,638,887,056.32, up 1.88% from the end of the previous year[5] - Shareholders' equity attributable to the parent company increased by 4.42% to CNY 6,836,754,196.61 compared to the previous year[5] - As of March 31, 2024, the total current assets amounted to approximately CNY 10.57 billion, an increase from CNY 10.40 billion as of December 31, 2023, reflecting a growth of about 1.6%[12] - The cash and cash equivalents decreased to CNY 4.83 billion from CNY 5.10 billion, representing a decline of approximately 5.2%[12] - The accounts receivable decreased to CNY 1.44 billion from CNY 1.67 billion, indicating a reduction of about 13.8%[12] - The total non-current assets increased to approximately CNY 3.07 billion from CNY 2.99 billion, showing a growth of about 2.8%[13] - The total liabilities increased to CNY 10.56 billion from CNY 10.34 billion, indicating a growth of approximately 2.1%[13] - Short-term borrowings rose significantly to CNY 865.98 million from CNY 470.32 million, reflecting an increase of about 83.9%[13] - The company reported a significant increase in long-term equity investments to CNY 185.88 million from CNY 167.39 million, which is an increase of about 11.1%[13] Research and Development - Research and development expenses totaled CNY 220,304,390.64, accounting for 6.34% of operating revenue, an increase of 0.55 percentage points[5] - Research and development expenses increased to ¥220,304,390.64 in Q1 2024, compared to ¥187,362,748.10 in Q1 2023, reflecting a growth of 17.59%[16] Tax and Other Income - The company reported a tax expense of ¥18,691,832.23 for Q1 2024, significantly lower than ¥33,924,532.05 in Q1 2023, indicating a decrease of 45.10%[17] - Other comprehensive income after tax for Q1 2024 was ¥54,941,088.52, compared to a loss of ¥15,917,852.65 in Q1 2023[17] Shareholder Information - The company has not reported any significant changes in the top 10 shareholders or their participation in financing activities[11] - There are no applicable reminders regarding the company's operational situation during the reporting period[11] Accounting Standards - The company did not apply new accounting standards for the first quarter of 2024[20]