常山药业(300255) - 2024 Q1 - 季度财报

Financial Performance - Operating income decreased by 68.32% compared to the same period last year, primarily due to a reduction in revenue [5] - The company reported a net loss of ¥62,005,917.65 for the first quarter of 2024, compared to a net profit of ¥558,681.84 in the same period last year, indicating a significant decline in profitability [40] - Operating profit for the first quarter was ¥-59,521,417.38, a decrease from ¥5,752,668.19 in the previous year, reflecting operational challenges [40] - Net profit attributable to shareholders decreased by 1,457.82% year-on-year, mainly due to a drop in revenue and gross margin [52] - The total operating revenue for the first quarter was CNY 294,318,791.37, a decrease of 41.4% compared to CNY 501,924,319.12 in the same period last year [62] - Operating revenue decreased by 41.36% compared to the same period last year, primarily due to a decline in sales volume and price of heparin raw materials [49] - The weighted average return on net assets was -3.46%, a decrease of 3.61% compared to the previous year [45] Cash Flow and Liquidity - Net cash flow from operating activities increased by 214.23% year-on-year, mainly due to a decrease in cash paid for goods and services [9] - Cash flow from investing activities increased by 49.83% year-on-year, mainly due to a decrease in cash paid for fixed assets and intangible assets [30] - Cash and cash equivalents increased by 91,081,724.95, compared to a decrease of -213,085,881.09 in the previous year, indicating a positive cash flow trend [43] - The cash flow statement for the quarter indicates a need for improved cash management strategies, although specific cash flow figures were not provided [41] - The net increase in cash and cash equivalents was primarily driven by improved operating cash flow, reflecting better operational efficiency [53] Assets and Liabilities - Total liabilities increased to ¥2,932,435,670.63, up from ¥2,796,761,912.30, indicating a rise in financial obligations [37] - The company's total assets rose to ¥4,670,165,225.86, compared to ¥4,596,453,987.15, showing growth in asset base [37] - The total assets at the end of the period were CNY 4,670,165,225.86, an increase from CNY 4,596,453,987.15 at the beginning of the period [62] - Accounts payable increased by 49.74% compared to the beginning of the period, mainly due to increased payments for goods and project costs [17] - The company’s accounts payable increased to ¥394,368,009.52 from ¥263,376,517.19, suggesting a rise in short-term financial commitments [37] - The company reported a 100.00% increase in long-term payables, mainly due to an increase in financing lease borrowings during the reporting period [48] - Deferred tax assets slightly decreased to ¥20,742,477.03 from ¥20,966,305.75, indicating a minor reduction in potential future tax benefits [37] Expenses - Non-operating expenses increased by 289.53% year-on-year, mainly due to increased litigation payments [3] - Income tax expenses decreased by 51.88% compared to the same period last year, primarily due to losses in subsidiaries that were profitable in the previous year [3] - Sales expenses decreased by 81.49% year-on-year, primarily due to the inclusion of the company's leading products in national procurement [27] - Research and development expenses decreased by 57.26% year-on-year, attributed to the completion of earlier R&D projects [50] - Research and development expenses for the quarter were CNY 16,435,989.22, down 57.3% from CNY 38,452,690.19 in the previous year [62] Other Comprehensive Income - Other comprehensive income increased by 32.57% compared to the beginning of the period, mainly due to exchange rate differences from European subsidiaries [26] - Non-operating income increased by 759.62% year-on-year, primarily due to the disposal of waste materials [28] Shareholder Value - The company reported a basic and diluted earnings per share of ¥-0.0671, a decline from ¥0.0049 in the previous year, highlighting a drop in shareholder value [40] - The total equity attributable to shareholders of the parent company decreased to CNY 1,750,035,675.66 from CNY 1,811,657,375.57, a decline of 3.4% [62] - The company’s retained earnings decreased to ¥222,688,269.50 from ¥284,353,367.44, reflecting a decline in accumulated profits [37] - The total equity remained stable at ¥919,060,878.00, unchanged from the previous period, indicating no new equity financing [37] Inventory and Receivables - The accounts receivable increased to CNY 248,025,535.18 from CNY 206,134,679.26, reflecting a growth of 20.3% [59] - The inventory decreased to CNY 1,531,629,409.10 from CNY 1,644,283,353.62, a reduction of 6.8% [59] Strategic Developments - The company has not disclosed any new product developments or market expansion strategies in this report [60]