ZOY(SH:603709)2024-04-28 07:51Financial Performance - The company's operating revenue for Q1 2024 was CNY 347,273,030.12, representing a year-on-year increase of 67.50%[6] - The net profit attributable to shareholders was CNY 6,058,005.92, showing a slight increase of 1.61% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 6,881,065.04, reflecting a significant increase of 97.29%[6] - Total operating revenue for Q1 2024 reached ¥347,273,030.12, a significant increase of 67.5% compared to ¥207,324,806.57 in Q1 2023[18] - Net profit for Q1 2024 was ¥6,058,005.92, up 2.7% from ¥5,900,073.50 in Q1 2023[19] - Operating profit for Q1 2024 was ¥7,560,448.31, representing a 21.1% increase from ¥6,243,648.56 in Q1 2023[19] - Total comprehensive income for Q1 2024 was ¥7,787,425.66, slightly higher than ¥7,477,646.12 in Q1 2023[19] Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -14,967,864.48, a decrease of 1,607.58% year-on-year[6] - Cash flow from operating activities showed a net outflow of ¥14,967,864.48 in Q1 2024, compared to a net inflow of ¥992,843.01 in Q1 2023[21] - Cash and cash equivalents were reported at RMB 92,950,957.56, down from RMB 110,427,967.30, representing a decline of about 15.77%[14] - Cash and cash equivalents at the end of Q1 2024 were ¥53,668,890.33, down from ¥74,944,391.52 at the end of Q1 2023[22] - The total current assets amounted to RMB 533,435,856.81, a slight increase from RMB 529,094,993.70 at the end of 2023[15] - The total non-current assets decreased to RMB 822,592,462.54 from RMB 830,485,217.84, indicating a reduction of approximately 0.11%[15] - The total assets at the end of the reporting period were CNY 1,356,028,319.35, a decrease of 1.32% from the end of the previous year[7] - The total assets as of March 31, 2024, were RMB 1,356,028,319.35, slightly down from RMB 1,359,580,211.54, reflecting a decrease of about 0.26%[16] Shareholder and Equity Information - The equity attributable to shareholders was CNY 599,847,629.85, an increase of 0.26% compared to the end of the previous year[7] - The total equity attributable to shareholders increased to RMB 599,847,629.85 from RMB 592,060,204.19, showing a growth of approximately 1.32%[16] - The company reported a total of 9,214 common shareholders at the end of the reporting period[11] - The company's retained earnings rose to RMB 137,996,020.48 from RMB 131,938,014.56, an increase of approximately 4.06%[16] Expenses and Liabilities - Research and development expenses increased to ¥6,734,672.94 in Q1 2024, up 45% from ¥4,640,714.07 in Q1 2023[18] - Sales expenses increased to ¥58,848,367.25 in Q1 2024, up 84.9% from ¥31,838,524.85 in Q1 2023[18] - The total liabilities as of March 31, 2024, were RMB 756,180,689.50, down from RMB 767,520,007.35, reflecting a decrease of about 1.75%[16] - Short-term borrowings were reported at RMB 30,000,000.00, indicating the company has taken on new debt[16] Accounting Standards and Compliance - The company announced the implementation of new accounting standards starting from 2024, which will affect the financial statements from the beginning of the year[24] - The board of directors of Zhongyuan Home Furnishing Co., Ltd. made the announcement on April 25, 2024[24] - No adjustments were applicable for the first-time execution of the new accounting standards[24] - The report indicates that the company is not subject to the new accounting standards or interpretations[24] - The announcement is part of the company's compliance with regulatory requirements[24] - The financial report covers the first quarter of 2024[24] - The company is focused on ensuring the accuracy of its financial reporting[24] - The board is committed to transparency in financial disclosures[24] - The report does not provide specific performance metrics or future guidance[24] - The document is a formal announcement rather than a detailed earnings call summary[24] Other Financial Metrics - The weighted average return on equity was 1.01%, a decrease of 0.03 percentage points[6] - The increase in operating revenue was primarily due to the expansion of cross-border business[9] - The increase in net profit after deducting non-recurring gains was mainly due to a reduction in non-current asset disposals[9] - Accounts receivable slightly decreased to RMB 159,687,203.54 from RMB 160,864,455.13, a reduction of approximately 0.73%[14] - Inventory increased to RMB 223,995,758.66 from RMB 207,214,498.31, marking an increase of about 8.14%[15] - The company experienced a foreign exchange gain of ¥2,812,498.26 in Q1 2024, compared to a loss of ¥4,002,872.62 in Q1 2023[22] - The company reported a decrease in basic and diluted earnings per share to ¥0.06 in Q1 2024, down from ¥0.07 in Q1 2023[20]