Financial Performance - The company's revenue for Q1 2024 was ¥156,646,636.98, a decrease of 1.13% compared to ¥158,442,995.70 in the same period last year[7] - Net profit attributable to shareholders decreased by 9.78% to ¥8,526,281.90 from ¥9,450,799.87 year-on-year[7] - The basic earnings per share decreased by 22.22% to ¥0.07 from ¥0.09 in the same period last year[7] - Operating profit for the period was CNY 10,936,652.34, up 7.0% from CNY 10,219,204.46 in the same period last year[22] - Net profit attributable to the parent company was CNY 8,526,281.90, down 10.0% from CNY 9,450,799.87 in Q1 2023[22] - Research and development expenses increased to CNY 6,760,555.16, compared to CNY 6,121,807.05 in the previous year, reflecting a growth of 10.5%[21] - The company reported a total operating cost of CNY 148,625,925.75, slightly up from CNY 148,587,062.24 in the previous year[21] - The company reported a credit impairment loss of CNY 502,611.39, compared to a reversal of CNY 385,541.34 in the previous year[22] Cash Flow and Assets - The net cash flow from operating activities was -¥25,350,998.21, representing a decline of 161.73% compared to -¥9,685,994.64 in the previous year[7] - The company's cash and cash equivalents decreased by 56.27% to ¥118,254,909.10, primarily due to increased payments for land purchases, equipment prepayments, and raw material acquisitions[9] - The net cash flow from investing activities was -93,634,590.25 CNY, compared to -62,206,760.42 CNY in the previous year, indicating a significant increase in cash outflow[25] - The total cash inflow from financing activities was 10,190,000.00 CNY, while the cash outflow was 15,456,000.00 CNY, resulting in a net cash flow from financing activities of -15,456,000.00 CNY[25] - The net increase in cash and cash equivalents for the quarter was -133,746,027.48 CNY, compared to -73,042,892.27 CNY in the same period last year[25] - The ending balance of cash and cash equivalents was 118,001,909.10 CNY, down from 172,266,391.88 CNY at the end of the previous year[25] - Total assets at the end of the reporting period were ¥875,207,504.78, down 2.36% from ¥896,391,269.47 at the end of the previous year[7] - As of March 31, 2024, the company's total assets amounted to RMB 875,207,504.78, a decrease from RMB 896,391,269.47 at the beginning of the period[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 6,668[11] - The largest shareholder, Shen Shunhua, holds 33.58% of the shares, totaling 39,414,600 shares[11] - The top ten shareholders hold a combined total of 64.3% of the shares, with the top three shareholders alone accounting for 50.3%[11] - The company has not reported any changes in the number of restricted shares during the reporting period[12] - The total number of restricted shares at the end of the period is 65,722,000[12] Investment and Projects - The company plans to invest in a project to build a digital factory with an annual production capacity of 270,000 tons of green materials and 10 million outdoor products[13] - The company has changed the use of raised funds from a project with an annual capacity of 150,000 tons of smart environmental liquid dyeing fiber to a new project with an annual capacity of 100,000 tons of green materials[13] - The company has initiated a new investment project for an annual production capacity of 270,000 tons of green new materials and 10 million sets of outdoor products, with a total investment of RMB 480 million, of which RMB 142.0173 million will be funded by raised capital[14] - The company has authorized management to handle all subsequent matters related to the new factory project, including approvals and financing[13] - The shareholder meeting approved the investment in the new factory project on January 29, 2024[13] Liabilities - The company's total liabilities decreased by 99.02% in tax payable, indicating a reduction in VAT and corporate income tax obligations[9] - The company's current liabilities totaled RMB 99,612,732.28, down from RMB 115,079,832.41 at the beginning of the period[20] - The company's non-current liabilities decreased from RMB 10,103,963.54 to RMB 9,868,938.98[20] Share Repurchase and Holdings - The company has repurchased 1,084,355 shares, accounting for 0.92% of the total share capital, with a total transaction amount of RMB 12,265,638.45[16] - The controlling shareholders plan to increase their holdings by at least RMB 5 million within six months, with one shareholder having already purchased 439,500 shares for RMB 5,046,194.30[15] - As of March 31, 2024, the company's total shares decreased from 117,450,438 to 117,390,438 after the cancellation of 60,000 restricted shares[15] Business Operations - The company has completed the registration of changes in business operations as of April 7, 2024[15] - The company did not undergo an audit for the first quarter report[26]
汇隆新材(301057) - 2024 Q1 - 季度财报