KBC(SH:688598)2024-04-28 07:44Financial Performance - The company's operating revenue for Q1 2024 was ¥202,033,850.39, representing a decrease of 33.09% compared to Q1 2023[3]. - The net profit attributable to shareholders for Q1 2024 was -¥54,699,604.84, a decline of 146.35% year-over-year[3]. - The basic and diluted earnings per share for Q1 2024 were both -¥0.39, down 146.43% from ¥0.84 in Q1 2023[15]. - The net profit for Q1 2024 was -54,385,669.62, compared to a net profit of 118,186,700.40 in Q1 2023, representing a significant decline[51]. - The total profit for Q1 2024 was -49,135,653.80, down from 141,349,766.53 in Q1 2023, indicating a substantial decrease in overall profitability[51]. - The company's total comprehensive income for Q1 2024 was -54,065,077.11, compared to 125,196,493.79 in Q1 2023, highlighting a drastic drop in overall financial health[51]. - The comprehensive income for Q1 2024 was -53,170,407.13 RMB, a significant decline from 120,026,900.12 RMB in Q1 2023[78]. - Operating profit for Q1 2024 was a loss of approximately ¥47.72 million, compared to a profit of ¥144.15 million in Q1 2023[87]. - The total profit for Q1 2024 was a loss of approximately ¥48.22 million, compared to a profit of ¥142.66 million in Q1 2023[87]. Cash Flow - The net cash flow from operating activities was -¥96,415,579.70, reflecting a decrease of 279.41% compared to the previous year[3]. - In Q1 2024, the net cash flow from operating activities was -94,692,305.63 RMB, a decrease from 54,375,224.08 RMB in Q1 2023[32]. - The company reported a net decrease in cash and cash equivalents of -¥100,732,101.73 for Q1 2024, compared to -¥18,037,502.83 in Q1 2023[22]. - Total cash inflow from operating activities in Q1 2024 was 145,199,546.54 RMB, compared to 241,322,659.99 RMB in Q1 2023, indicating a decline of approximately 39.9%[74]. - Cash outflow from operating activities in Q1 2024 was 241,615,126.24 RMB, up from 187,581,388.69 RMB in Q1 2023, representing an increase of about 28.8%[74]. Assets and Liabilities - The total liabilities as of March 31, 2024, were ¥990,489,017.26, down from ¥1,097,542,392.12 at the end of 2023[13]. - The total equity attributable to shareholders decreased from ¥6,057,877,716.29 to ¥5,952,562,041.05 during the same period[13]. - The company's total assets decreased by 2.96% from the end of the previous year, amounting to 6,949,088,850.25 RMB[38]. - The total assets as of March 31, 2024, were 6,890,508,906.92 RMB, down from 7,070,530,426.56 RMB at the end of 2023, reflecting a decrease of approximately 2.5%[76]. - Total liabilities decreased to 922,004,367.55 RMB as of March 31, 2024, from 997,918,817.15 RMB at the end of 2023, a reduction of about 7.6%[76]. - Total current liabilities decreased to approximately CNY 590.47 million as of March 31, 2024, down from CNY 704.27 million at the end of 2023[49]. Research and Development - R&D investment totaled 34,888,028.35 RMB, representing 17.27% of operating revenue, an increase of 3.86 percentage points[38]. - Research and development expenses decreased to approximately ¥32.34 million in Q1 2024 from ¥36.72 million in Q1 2023, reflecting a reduction of 11.5%[87]. Government Support and Other Income - The company received government subsidies amounting to 4,675,595.02 RMB during the reporting period[39]. - The company reported a significant decrease in other income, which fell to approximately ¥5.33 million in Q1 2024 from ¥99.59 million in Q1 2023[87]. - Tax expenses for Q1 2024 were approximately ¥4.95 million, down from ¥22.64 million in Q1 2023, indicating a decrease of 78.1%[87]. Management Focus - The company's management indicated a focus on cost reduction and efficiency improvements in future quarters[88].