UTIMES(SH:688638)2024-04-26 13:28Financial Performance - The company's operating revenue for Q1 2024 was ¥131,124,420.61, representing a decrease of 16.84% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥18,322,447.98, with a significant increase in inventory impairment provisions contributing to the decline[9]. - The total operating profit for Q1 2024 was -¥23,383,459.49, compared to -¥6,539,883.48 in the same period last year, reflecting a worsening financial performance[20]. - The net profit attributable to shareholders of the parent company for Q1 2024 was -¥18,322,447.98, compared to -¥3,636,060.19 in Q1 2023, indicating a significant increase in losses[21]. - The company's total profit for Q1 2024 was -¥23,378,432.74, compared to -¥6,541,658.09 in Q1 2023, indicating a deteriorating financial situation[20]. - The net loss for the first quarter of 2024 was CNY 14,615,331.17, compared to a net loss of CNY 3,327,143.01 in the first quarter of 2023, indicating a significant increase in losses[28]. Cash Flow - The net cash flow from operating activities was negative at ¥104,612,172.92, reflecting a decrease of 834.53% in cash received from sales and services[6]. - Cash flow from operating activities showed a net outflow of -¥104,612,172.92 in Q1 2024, a stark contrast to a net inflow of ¥14,242,070.97 in Q1 2023[23]. - The company reported total cash inflows from investment activities of ¥211,033,872.93 in Q1 2024, with a net cash inflow of ¥58,062,610.93 after accounting for cash outflows[24]. - The company experienced a net decrease in cash and cash equivalents of $20.46 million in Q1 2024, contrasting with an increase of $8.37 million in Q1 2023[32]. - The net cash flow from investing activities was $100.59 million in Q1 2024, a recovery from a negative $215,277.55 in Q1 2023[32]. - Total cash inflow from operating activities was $38.95 million, down from $198.17 million year-over-year[31]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,941,521,987.87, down 5.49% from the end of the previous year[6]. - Total assets as of March 31, 2024, were RMB 1,941,521,987.87, down from RMB 2,054,302,230.55 at the end of 2023[16]. - Total liabilities decreased to RMB 841,539,163.43 from RMB 937,354,129.33, a decline of 10.2%[17]. - The total liabilities as of March 31, 2024, were CNY 783,263,506.84, down from CNY 864,540,312.39 as of December 31, 2023, reflecting a decrease of about 9.41%[27]. - Shareholders' equity as of March 31, 2024, was RMB 1,099,982,824.44, down from RMB 1,116,948,101.22 at the end of 2023[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,087[10]. - The top three shareholders held a combined 45.68% of the company's shares, with the largest shareholder owning 15.64%[11]. Research and Development - Research and development expenses totaled ¥13,761,693.61, accounting for 10.50% of operating revenue, an increase of 1.88 percentage points year-on-year[6]. - Research and development expenses for Q1 2024 were ¥13,761,693.61, slightly up from ¥13,589,659.88 in Q1 2023, indicating continued investment in innovation[20]. - Research and development expenses for the first quarter of 2024 were CNY 12,205,675.03, slightly down from CNY 13,101,545.84 in the first quarter of 2023[28]. Financial Management - The company did not conduct an audit for the Q1 financial statements[4]. - The company incurred financial expenses of ¥282,901.39 in Q1 2024, a significant improvement from a financial income of -¥329,311.91 in Q1 2023[20]. - The company reported a significant increase in financial expenses, with interest expenses rising to CNY 1,035,561.55 in the first quarter of 2024, compared to CNY 233,335.18 in the same period of 2023[28]. Future Outlook - The company is focusing on new product development and market expansion strategies to improve future performance[19].