RYC(SZ:003010)2024-04-28 07:47Financial Performance - The company's revenue for Q1 2024 reached ¥372,228,772.95, representing a 31.68% increase compared to ¥282,670,941.40 in the same period last year[5] - Net profit attributable to shareholders was ¥12,821,237.60, an increase of 86.40% from ¥6,878,378.02 year-on-year[5] - The basic earnings per share rose to ¥0.1051, reflecting an 86.02% increase compared to ¥0.0565 in the same period last year[5] - Operating profit for the quarter was CNY 12,844,638.82, up 89.5% from CNY 6,774,581.79 in Q1 2023[24] - Total comprehensive income attributable to the parent company reached CNY 13,039,623.35, a significant increase from CNY 6,890,586.74 in the previous period, representing an increase of approximately 89.5%[25] Cash Flow and Assets - The net cash flow from operating activities surged by 177.96% to ¥121,475,841.73, up from ¥43,702,478.32 in the previous year[5] - Cash received from the sale of goods and services amounted to CNY 457,359,013.66, up from CNY 307,202,992.85, indicating a growth of 48.9%[26] - Cash and cash equivalents increased to RMB 402,308,689.92 from RMB 345,454,763.98, representing a growth of about 16.4%[19] - The net increase in cash and cash equivalents for the period was CNY 59,603,559.50, compared to CNY 26,621,713.07 in the previous period, reflecting an increase of 123.8%[26] - Cash and cash equivalents at the end of the period totaled CNY 395,929,360.45, slightly up from CNY 395,196,574.79 in the previous period[26] Liabilities and Equity - Total liabilities increased to CNY 249,295,646.01 from CNY 248,603,008.85, indicating a marginal rise in financial obligations[21] - The total equity attributable to shareholders decreased to CNY 1,050,144,897.19 from CNY 1,097,095,387.79, indicating a reduction in shareholder value[21] Inventory and Operating Costs - The company experienced a 51.96% increase in operating costs, amounting to ¥280,485,010.37, due to the corresponding increase in revenue[8] - The company's inventory stock increased by 211.24% to ¥88,388,744.57, primarily due to the execution of a share buyback[8] - Inventory decreased significantly from RMB 318,580,274.72 to RMB 241,454,933.74, a decline of around 24.2%[19] Share Repurchase - The company repurchased a total of 2,151,900 shares, accounting for 1.76% of the total share capital, with a total transaction amount of RMB 29,994,796.00[13] - The total amount allocated for share repurchase is between RMB 15 million and RMB 30 million, with a maximum repurchase price set at RMB 30.20 per share[12] - The company plans to continue its share repurchase program for an additional 12 months following the board's approval[14] Government Subsidies and Other Income - The company reported a significant increase in government subsidies, totaling ¥803,073.00, which is an increase of 877.47% compared to ¥82,158.67 in the previous year[8] - The company reported a significant increase in other receivables, rising from RMB 47,600,376.17 to RMB 64,376,811.61, an increase of approximately 35.2%[19] Financial Adjustments and Future Plans - The company has appointed a new quality control reviewer for its accounting firm due to internal adjustments, ensuring continuity in the audit process[17] - The company plans to continue focusing on market expansion and new product development to drive future growth[22] - The report indicates the implementation of new accounting standards starting in 2024, which may affect future financial reporting[27] - The company has not undergone an audit for the first quarter report[27]