Financial Performance - Revenue for Q1 2024 was CNY 403,835,785.46, a decrease of 14.54% compared to CNY 472,538,473.85 in the same period last year[5] - Net profit attributable to shareholders was CNY 11,046,817.44, representing a significant increase of 2,271.63% from CNY 465,789.62 year-on-year[5] - The net profit after deducting non-recurring gains and losses was CNY 10,627,856.24, up 571.88% from a loss of CNY 2,252,240.80 in the previous year[5] - Basic earnings per share rose to CNY 0.0276, a 2,200.00% increase from CNY 0.0012 in the same quarter last year[5] - Total operating revenue for Q1 2024 was CNY 403,835,785.46, a decrease of 15% compared to CNY 472,538,473.85 in the same period last year[22] - Total operating costs for Q1 2024 were CNY 395,226,936.60, down 16.7% from CNY 474,402,851.58 year-over-year[22] - Net profit for Q1 2024 reached CNY 11,043,269.05, a significant increase from CNY 522,684.80 in Q1 2023[23] - Earnings per share for Q1 2024 were CNY 0.0276, compared to CNY 0.0012 in the previous year[23] - The company reported a profit before tax of CNY 9,363,847.90, compared to a loss of CNY 2,166,807.81 in the same period last year[23] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 2,639,054,844.67, a 0.94% increase from CNY 2,614,536,685.67 at the end of the previous year[5] - Total liabilities increased to CNY 1,250,224,198.38 from CNY 1,235,210,161.57 year-over-year[21] - The company's total equity attributable to shareholders rose to CNY 1,386,407,967.91, compared to CNY 1,376,900,297.33 in the previous year[21] Cash Flow - Cash flow from operating activities was negative at CNY -51,209,602.80, a decline of 724.30% compared to CNY -6,212,474.55 in the previous year[14] - The net cash flow from operating activities was -51,209,602.80 CNY, compared to -6,212,474.55 CNY in the previous year, indicating a significant decline[26] - Total cash inflow from operating activities was 276,658,397.18 CNY, while cash outflow was 327,867,999.98 CNY, resulting in a cash flow deficit[26] - Cash inflow from investment activities was 5,003,589.82 CNY, down from 30,284,761.77 CNY year-over-year, reflecting reduced investment recovery[26] - The net cash flow from investment activities was -70,073,643.01 CNY, compared to -78,160,123.20 CNY in the previous year, showing a slight improvement[26] - Cash inflow from financing activities was 129,597,290.44 CNY, an increase from 93,245,495.50 CNY year-over-year, indicating stronger financing efforts[27] - The net cash flow from financing activities was 31,734,969.72 CNY, a turnaround from -3,764,349.85 CNY in the previous year, highlighting improved financial management[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,276[15] - The top 10 shareholders hold significant stakes, with the largest being Zhong Zhengguang at 22.53% (90,115,000 shares) and the second being American Wanbang Ltd. at 19.79% (79,165,000 shares)[15] - The company has not disclosed any changes in the top 10 shareholders due to securities lending activities[16] Operational Insights - Accounts receivable increased by 65.21% to CNY 119,323,209.35, attributed to a higher amount of receivables not yet due[10] - Financial expenses decreased by 34.37% to CNY 1,602,571.71, mainly due to increased exchange gains[12] - Other income surged by 229.39% to CNY 3,578,072.32, primarily from increased deductible input tax[12] - The company's cash and cash equivalents decreased from 320,341,707.34 CNY to 226,726,223.09 CNY, a decline of approximately 29.2%[19] - Accounts receivable increased from 72,225,124.74 CNY to 119,323,209.35 CNY, representing a growth of about 65.3%[19] - Inventory levels slightly increased from 262,253,752.71 CNY to 264,007,538.59 CNY, a rise of approximately 0.67%[19] - Fixed assets rose from 829,086,727.59 CNY to 913,314,022.56 CNY, indicating an increase of about 10.1%[19] - The company reported a total current asset of 985,775,181.31 CNY, down from 1,036,603,028.37 CNY, reflecting a decrease of approximately 4.9%[19] - Research and development expenses for Q1 2024 were CNY 10,750,166.89, a decrease from CNY 12,029,810.93 in Q1 2023[22] - The company received 27,235,517.50 CNY in tax refunds, up from 8,407,491.69 CNY, reflecting improved tax recovery efforts[26] - The total cash outflow for purchasing goods and services was 274,695,200.31 CNY, compared to 227,752,968.93 CNY in the previous year, indicating increased operational costs[26] - The company did not report any new product launches or significant market expansion strategies during the quarter[28] Corporate Actions - The company is in the process of evaluating the potential downward adjustment of the conversion price for its convertible bonds[16] - The company has initiated its first share repurchase program as of February 28, 2024[16]
惠云钛业(300891) - 2024 Q1 - 季度财报