Yuancheng(SH:603388)2024-04-26 15:56Financial Performance - The company's operating revenue for Q1 2024 was CNY 28,731,635.26, representing a decrease of 67.98% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of CNY 22,457,883.70, a decline of 683.87% year-on-year[6]. - The net profit for Q1 2024 was -25,602,665.77 RMB, compared to a net profit of 4,128,286.02 RMB in Q1 2023, indicating a significant decline[22]. - Operating profit for Q1 2024 was -26,222,852.03 RMB, down from 4,553,924.98 RMB in the same period last year[22]. - Total revenue from sales and services received in Q1 2024 was 35,533,314.58 RMB, a decrease of approximately 72.5% from 129,068,604.12 RMB in Q1 2023[25]. - The company reported a net loss for Q1 2024, with total costs exceeding total revenue significantly[21]. Cash Flow - The net cash flow from operating activities was a negative CNY 54,273,722.18, down 34.62% from the previous year[6]. - The net cash flow from operating activities for Q1 2024 was -$93.23 million, a slight improvement from -$98.89 million in Q1 2023, indicating a 5.5% reduction in losses[38]. - Total cash inflow from operating activities decreased to $34.85 million in Q1 2024 from $116.60 million in Q1 2023, representing a decline of 70%[38]. - Cash outflow from operating activities also decreased to $128.09 million in Q1 2024 from $215.48 million in Q1 2023, a reduction of 40.5%[38]. - The company reported cash received from operating activities of $24.07 million in Q1 2024, down from $114.75 million in Q1 2023, a decrease of 79.0%[38]. - Cash paid for purchasing goods and services was $51.53 million in Q1 2024, down from $146.17 million in Q1 2023, a reduction of 64.8%[38]. - The company incurred a credit impairment loss of -5,960,727.51 RMB in Q1 2024, compared to -2,326,845.26 RMB in Q1 2023[22]. Assets and Liabilities - The total assets at the end of Q1 2024 were CNY 3,291,274,976.48, a decrease of 2.27% from the end of the previous year[7]. - Total assets decreased to CNY 3,291,274,976.48 from CNY 3,367,716,668.60, reflecting a decline of 2.3%[18]. - Total liabilities decreased to CNY 1,844,272,382.72 from CNY 1,895,602,859.22, a reduction of 2.7%[18]. - Shareholders' equity decreased to CNY 1,447,002,593.76 from CNY 1,472,113,809.38, indicating a decline of 1.7%[18]. - The company's total liabilities decreased slightly from CNY 1,715,741,086.60 on December 31, 2023, to CNY 1,709,809,969.69 on March 31, 2024, a reduction of about 0.3%[31]. Operating Costs - Total operating costs for Q1 2024 were CNY 50,808,194.40, up 57.8% from CNY 87,616,274.14 in Q1 2023[21]. - Operating costs included CNY 30,500,196.32 in operating expenses, which decreased by 57.0% from CNY 71,075,537.50 in the previous year[21]. - The company's financial expenses for Q1 2024 were CNY 7,665,568.79, down from CNY 8,844,755.21 in Q1 2023, a decrease of about 13.3%[34]. Research and Development - Research and development expenses in Q1 2024 were 2,512,299.20 RMB, a decrease of 24% from 3,305,745.33 RMB in Q1 2023[22]. - Research and development expenses in Q1 2024 were CNY 1,726,522.34, down 36.7% from CNY 2,721,399.77 in Q1 2023[34]. Market and Strategic Focus - The significant decline in revenue was attributed to reduced investments from government and real estate sectors, leading to fewer orders[9]. - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future performance[21]. - The company has not disclosed any new product developments or market expansion strategies in this report[6]. - There were no significant updates on new product developments or mergers and acquisitions during the reporting period[21].