SONGZ(SZ:002454)2024-04-28 07:44Revenue and Profitability - The company's revenue for Q1 2024 was CNY 1,072,669,978.90, a slight increase of 0.33% compared to CNY 1,069,133,056.25 in the same period last year[5]. - Net profit attributable to shareholders increased by 28.06% to CNY 60,440,603.79 from CNY 47,196,527.52 year-on-year[5]. - The net profit after deducting non-recurring gains and losses rose by 39.77% to CNY 54,869,904.10 compared to CNY 39,258,342.70 in the previous year[5]. - Basic and diluted earnings per share increased by 25.00% to CNY 0.10 from CNY 0.08 year-on-year[5]. - The net profit for Q1 2024 was CNY 69,087,102.40, an increase of 27.7% compared to CNY 54,094,124.95 in Q1 2023[19]. - The total comprehensive income for Q1 2024 was CNY 69,816,379.51, compared to CNY 55,108,874.86 in Q1 2023, reflecting a growth of 26.7%[20]. Cash Flow and Financial Position - The net cash flow from operating activities decreased significantly by 96.58%, amounting to CNY -200,961,606.69, compared to CNY -102,229,075.89 in the same period last year[5]. - The company reported a cash flow from operating activities of CNY -200,961,606.69, worsening from CNY -102,229,075.89 in Q1 2023[22]. - The company incurred a total of CNY 931,705,814.87 in cash outflows from operating activities, a decrease from CNY 983,820,008.92 in the previous year[22]. - Investment activities resulted in a net cash outflow of CNY -53,705,555.14, compared to CNY -43,984,725.92 in Q1 2023[22]. - The company's cash and cash equivalents decreased to RMB 792,036,466.22 from RMB 1,110,307,468.87 at the beginning of the period, reflecting a decline of approximately 28.6%[14]. - The cash and cash equivalents at the end of Q1 2024 were CNY 472,049,059.96, an increase from CNY 398,592,724.75 at the end of Q1 2023[22]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,334,434,298.36, a decrease of 0.52% from CNY 7,372,866,736.15 at the end of the previous year[5]. - The total assets of the company stood at RMB 7,334,434,298.36, slightly down from RMB 7,372,277,475.84, indicating a decrease of approximately 0.5%[16]. - Accounts receivable rose to RMB 990,781,908.74 from RMB 1,156,889,719.06, showing a decrease of about 14.3%[14]. - Inventory increased to RMB 951,746,275.26 from RMB 860,912,937.85, marking an increase of approximately 10.5%[15]. - Total current liabilities decreased to RMB 2,797,698,387.74 from RMB 2,913,769,533.56, a reduction of about 4%[16]. - The total equity attributable to shareholders increased to RMB 3,881,988,511.52 from RMB 3,834,646,870.63, reflecting a growth of about 1.2%[16]. Investment and Expenses - The company's cash flow from investment activities increased by 154.65% compared to the previous year, primarily due to increased frequency in purchasing bank wealth management products[10]. - The company's financial expenses decreased by 38.76% year-on-year, attributed to an increase in interest income[10]. - The company reported a 179.72% increase in investment income compared to the previous year, mainly due to significant returns from maturing bank wealth management products[10]. - The company's long-term prepaid expenses increased by 199.58% compared to the beginning of the year, mainly due to increased expenses related to the Changchun production base[10]. - Research and development expenses amounted to CNY 62,135,938.71, slightly down from CNY 65,302,347.83 in the same period last year[19]. Future Outlook - Future strategies include potential market expansion and new product development, although detailed plans were not specified in the conference call[18]. - The company reported a net profit margin improvement, although specific figures were not disclosed in the provided content[18].