MIHF(SH:600337)2024-04-28 07:36Financial Performance - The company's operating revenue for Q1 2024 was ¥821,950,550.79, representing a decrease of 26.40% compared to the same period last year[7]. - The net profit attributable to shareholders was a loss of ¥156,105,357.73, with a significant increase in losses compared to the previous year[7]. - The basic and diluted earnings per share were both -¥0.1067, reflecting an increase in losses compared to the previous year[7]. - Net loss for Q1 2024 was ¥155,025,220.37, compared to a net loss of ¥47,910,775.33 in Q1 2023, representing an increase in losses of 223.5%[24]. - Total operating revenue for Q1 2024 was ¥821,950,550.79, a decrease of 26.4% compared to ¥1,116,726,929.07 in Q1 2023[23]. - Total operating costs for Q1 2024 were ¥1,000,117,081.39, down 14.7% from ¥1,173,038,997.57 in Q1 2023[23]. - The company reported a comprehensive loss of ¥149,449,295.01 in Q1 2024, compared to a comprehensive loss of ¥65,147,405.51 in Q1 2023[25]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥6,616,617.54, indicating a decrease in cash payments for goods and services compared to the previous year[11]. - Cash inflow from operating activities in Q1 2024 was ¥1,030,611,703.81, a decrease from ¥1,091,631,091.97 in Q1 2023[28]. - The company's cash and cash equivalents decreased to RMB 684.36 million from RMB 775.88 million, reflecting a decline of approximately 11.73%[18]. - The ending balance of cash and cash equivalents decreased to 600,831,788.27 from 761,538,933.89[30]. - Total cash outflow from operating activities was 1,023,995,086.27, compared to 1,105,577,960.58 in the previous quarter[29]. - Cash inflow from investment activities totaled 64,181,314.83, compared to 2,322,188.52 in the prior period, indicating a strong recovery[29]. - Net cash flow from investment activities was 20,499,908.87, a turnaround from -39,467,623.10 in the previous quarter[29]. - Cash inflow from financing activities was 475,965,261.82, down from 673,008,004.69 in the last quarter[30]. - Net cash flow from financing activities was -111,576,798.97, contrasting with a positive 74,093,533.59 in the previous quarter[30]. Assets and Liabilities - Total assets at the end of Q1 2024 were ¥9,367,444,985.82, down 3.05% from the end of the previous year[8]. - Total liabilities as of Q1 2024 were ¥5,869,833,941.49, a slight decrease from ¥5,957,456,998.09 in Q1 2023[22]. - The company's total non-current assets were RMB 5.9173 billion, down from RMB 6.0703 billion, reflecting a decrease of approximately 2.52%[20]. - The company reported a significant increase in contract liabilities, rising to RMB 199.56 million from RMB 96.86 million, an increase of approximately 106.61%[20]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,616[12]. - The largest shareholder, Meike Investment Group Co., Ltd., holds 33.01% of the shares, with a significant portion pledged[12]. - Shareholders' equity attributable to the parent company decreased by 5.64% to ¥3,480,381,720.34[8]. - Total equity attributable to shareholders was ¥3,480,381,720.34 in Q1 2024, down from ¥3,688,273,892.06 in Q1 2023[22]. Operational Strategies - The company is focusing on reducing operational costs and improving cash flow management in response to the declining revenue trend[11]. - The company has repurchased a total of 30.8006 million shares, accounting for 2.08% of the total share capital, with a total expenditure of RMB 74.6098 million[15]. - The company plans to continue its share repurchase program until October 2024, subject to regulatory compliance[15]. Other Financial Metrics - Non-recurring gains and losses amounted to ¥6,458,595.41, primarily due to asset disposal gains and government subsidies[10]. - Research and development expenses for Q1 2024 were ¥23,941,928.67, down 17.6% from ¥29,086,392.73 in Q1 2023[24]. - The company's cash paid for goods and services in Q1 2024 was ¥469,001,258.35, compared to ¥486,616,331.38 in Q1 2023[28]. - Payments to employees amounted to 315,215,948.21, while tax payments were 69,913,875.44, reflecting operational costs[29]. - The company reported a significant increase in cash received from the disposal of fixed assets, totaling 44,168,116.00[29]. - The highest repurchase price of shares was RMB 2.77 per share, while the lowest was RMB 1.97 per share[15]. - The company is not applying new accounting standards or interpretations for the current year[30].