盛新锂能(002240) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was ¥1,213,189,845.06, a decrease of 56.42% compared to ¥2,783,811,335.88 in the same period last year[3] - The net profit attributable to shareholders was -¥143,690,871.64, representing a decline of 131.00% from ¥463,588,054.44 year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥156,127,364.78, down 149.93% from ¥312,684,970.05 in the previous year[3] - Basic and diluted earnings per share were both -¥0.16, a decrease of 131.37% compared to ¥0.51 in the same period last year[3] - The weighted average return on equity was -1.11%, down 4.69% from 3.58% in the previous year[3] - Total operating revenue for Q1 2024 was approximately ¥1.21 billion, a decrease from ¥2.78 billion in the same period last year, representing a decline of about 56.4%[14] - Total operating costs amounted to approximately ¥1.34 billion, down from ¥2.33 billion year-over-year, reflecting a decrease of about 42.8%[14] - The net profit for Q1 2024 was a loss of approximately ¥133 million, compared to a profit of ¥453 million in Q1 2023, indicating a significant decline[14] - The total comprehensive income for Q1 2024 was a loss of approximately ¥129 million, compared to a gain of ¥433 million in Q1 2023[15] Assets and Liabilities - Total assets at the end of the reporting period were ¥22,101,648,551.44, an increase of 6.50% from ¥20,753,051,190.47 at the end of the previous year[3] - Shareholders' equity attributable to the parent company was ¥12,673,910,864.46, a decrease of 2.21% from ¥12,960,810,837.23 at the end of the previous year[3] - Current assets totaled CNY 8,302,334,518.41, down from CNY 8,622,332,037.05, reflecting a decrease of approximately 3.7%[12] - Total liabilities increased to CNY 9,104,151,396.11 from CNY 7,477,923,201.45, reflecting a growth of approximately 23.0%[12] - The company reported a contract liability of CNY 418,796,610.67, a significant increase from CNY 2,999,326.87[12] Cash Flow - The net cash flow from operating activities was ¥452,744,060.95, down 22.85% from ¥586,869,884.91 in the same period last year[3] - The net cash flow from investment activities was -1,362,326,357.26 CNY, compared to -1,090,821,052.08 CNY in the previous year, indicating a decline in investment returns[17] - Cash inflow from financing activities totaled 2,575,055,366.64 CNY, up from 1,722,723,058.50 CNY year-over-year, reflecting increased borrowing and investment[17] - The net cash flow from financing activities was 1,175,925,489.23 CNY, compared to 908,381,889.92 CNY in the same period last year, showing improved financial management[17] - The company reported a net increase in cash and cash equivalents of 164,198,258.34 CNY, down from 396,801,224.73 CNY in the previous year[17] - Cash and cash equivalents at the end of the period stood at 2,208,091,193.97 CNY, compared to 5,003,680,102.59 CNY at the end of the previous year[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 138,975, with the largest shareholder, Shenzhen Shengtun Group Co., Ltd., holding 9.66% of shares[7] - The top ten shareholders hold a combined 38.04% of the total share capital, with the top three shareholders alone accounting for 20.80%[8] - The company has a total of 73,148,892 shares pledged by major shareholders, indicating a significant level of leverage[7] - The company has not disclosed any significant changes in the relationships among the top ten shareholders, maintaining transparency in ownership structure[7] Strategic Developments - The decline in revenue and profit was primarily due to the fluctuation in the lithium battery industry and a decrease in lithium salt product sales prices compared to the previous year[6] - The company signed a long-term lithium hydroxide supply contract with Hyundai Motor Company, committing to supply lithium hydroxide products from 2024 to 2027[9] - The company entered into a lithium concentrate purchase agreement with Pilbara Minerals Ltd., ensuring the procurement of spodumene concentrate from 2024 to 2026[9] - The company’s strategic focus includes expanding its supply chain partnerships to secure raw materials for lithium production[9] - The company is actively involved in the lithium supply chain, enhancing its market position through strategic agreements with key industry players[9] Expenses and Other Financial Metrics - Research and development expenses for Q1 2024 were approximately ¥1.57 million, significantly lower than ¥2.98 million in the same period last year, a reduction of about 47.3%[14] - The company recorded other income of approximately ¥2.81 million, a decrease from ¥144 million in the previous year, indicating a decline of about 98%[14] - The company experienced a significant increase in financial expenses, with interest expenses rising to approximately ¥59 million from ¥42 million year-over-year, an increase of about 38.5%[14] - The company reported a tax expense of approximately ¥32 million for Q1 2024, down from ¥72 million in the same period last year, a decrease of about 55.6%[14]