Ligao Foods (SZ:300973)2024-04-28 08:07Financial Performance - The company's revenue for Q1 2024 reached ¥916,148,663.51, representing a 15.31% increase compared to ¥794,489,810.22 in the same period last year[6] - Net profit attributable to shareholders was ¥76,771,771.42, a significant increase of 53.96% from ¥49,864,999.72 year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥67,765,556.79, up 40.29% from ¥48,305,619.45 in the previous year[6] - The gross profit margin for Q1 2024 was 32.6%, an increase of 0.6% year-on-year, attributed to improved capacity utilization and optimized procurement strategies[12] - The company reported a net profit margin of 8.8% after excluding stock incentive expenses, which is an increase of 0.5% compared to the previous year[11] - The operating profit for Q1 2024 reached CNY 94,500,903.63, compared to CNY 61,492,956.89 in the same period last year, indicating a year-over-year increase of about 53.7%[33] - The total comprehensive income attributable to the parent company for Q1 2024 was CNY 76,646,791.22, compared to CNY 49,864,999.72 in Q1 2023, reflecting an increase of about 53.8%[33] Cash Flow - The company's cash flow from operating activities turned positive at ¥20,303,425.04, compared to a negative cash flow of ¥19,229,040.09 in the same quarter last year, marking a 205.59% improvement[6] - Net cash flow from operating activities for Q1 2024 improved by 205.59% year-on-year to ¥20,303,425.04, attributed to increased revenue and cost savings in raw material procurement[17] - The net cash flow from financing activities for Q1 2024 decreased by 104.41% year-on-year to -¥41,111,927.09, mainly due to cash outflow for stock repurchase[17] - The net cash flow from investing activities for Q1 2024 decreased by 179.03% year-on-year to -¥214,342,309.63, primarily due to increased project investments and purchases of financial products[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,034[18] - The top shareholder, Peng Yuhui, holds 15.29% of the shares, amounting to 25,889,000 shares[18] - The company repurchased 1,433,677 shares, representing 2.02% of the total unrestricted circulating shares as of March 31, 2024[19] - The total number of restricted shares at the end of the period is 98,296,912 shares, with 2,250 shares released from restriction[24] - The total number of shares held by 彭裕辉 is 25,889,000, with a lock-up release date of April 17, 2024[22] - The total number of shares held by 赵松涛 is 17,259,300, also with a lock-up release date of April 17, 2024[22] - The company has a total of 5,817,100 shares held by 广州立兴企业管理咨询合伙企业, with a lock-up release date of April 17, 2024[23] Investment and Assets - Total assets at the end of Q1 2024 were ¥3,903,788,774.53, a slight decrease of 0.91% from ¥3,939,680,875.94 at the end of the previous year[6] - The total assets as of March 31, 2024, amounted to CNY 3,903,788,774.53, a decrease from CNY 3,939,680,875.94 at the beginning of the period[30] - The total liabilities decreased from CNY 1,452,945,112.11 to CNY 1,385,741,604.41 during the same period[30] Future Plans and Governance - The company plans to continue optimizing its cost structure and improving operational efficiency to enhance profitability[12] - The company plans to revise its governance structure and related systems to enhance operational standards and compliance with updated regulations[26] - The company plans to repurchase shares using its own funds, with a total amount not less than RMB 50 million and not exceeding RMB 100 million[25] Other Income and Expenses - Other income for Q1 2024 increased by 416.84% year-on-year to ¥11,944,715.35, primarily due to government subsidies received[16] - Investment income for Q1 2024 reached ¥2,961,456.12, a 100% increase year-on-year, mainly driven by increased financial investment returns[16] - Income tax expenses for Q1 2024 rose by 54.31% year-on-year to ¥17,874,115.07, driven by increased profits[16] - The company reported a credit impairment loss of -¥1,602,579.63 for Q1 2024, a decrease of 243.92% year-on-year, primarily due to an increase in accounts receivable[16] Stock and Bonds - The company paid the first-year interest on convertible bonds at face value on March 7, 2024, with a coupon rate of 0.30% for the period from March 7, 2023, to March 6, 2024[26] - The company’s executives have a 25% annual release of their locked shares based on their total holdings[23] - The company has a lock-up period of 36 months for shares issued during its initial public offering[24]