Financial Performance - The company's revenue for Q1 2024 was ¥153,404,077.42, a decrease of 13.47% compared to ¥177,276,372.69 in the same period last year[5] - The net loss attributable to shareholders was ¥9,984,221.49, representing a decline of 120.93% from a profit of ¥47,692,510.88 in the previous year[5] - The basic and diluted earnings per share were both -¥0.05, down 122.73% from ¥0.22 in the previous year[5] - Total operating revenue for Q1 2024 was ¥153,404,077.42, a decrease of 13.5% compared to ¥177,276,372.69 in the same period last year[21] - Net profit for Q1 2024 was a loss of ¥9,984,221.49, compared to a profit of ¥47,692,510.88 in Q1 2023, marking a significant decline[22] - The total comprehensive income for Q1 2024 was -26,970,921.63 CNY, a significant decrease from 42,341,387.85 CNY in the same period last year[23] Cash Flow - The net cash flow from operating activities was negative at ¥61,064,399.35, a decrease of 151.80% compared to ¥117,892,226.18 in the same period last year[5] - Cash inflow from operating activities totaled 115,729,170.75 CNY, a decrease of 75.2% compared to 466,064,967.02 CNY in the previous year[24] - Cash outflow from operating activities was 176,793,570.10 CNY, down from 348,172,740.84 CNY in the same period last year[26] - Cash flow from investment activities showed a net outflow of -158,236,118.70 CNY, compared to a net inflow of 347,725,817.91 CNY in Q1 2023[26] - The cash and cash equivalents at the end of Q1 2024 were 1,635,923,709.19 CNY, down from 2,231,552,069.48 CNY at the end of Q1 2023[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,159,354,559.21, a decrease of 1.34% from ¥3,202,317,382.45 at the end of the previous year[5] - Current assets totaled ¥2,297,077,625.14, down from ¥2,341,162,118.73, indicating a decrease of about 1.9%[18] - The company's cash and cash equivalents decreased to ¥1,638,036,326.03 from ¥1,858,065,846.57, a decline of approximately 11.8%[18] - The total liabilities decreased to ¥178,404,299.77 from ¥194,396,201.38, a reduction of about 8.2%[19] - The company's equity attributable to shareholders decreased to ¥2,980,950,259.44 from ¥3,007,921,181.07, reflecting a decline of approximately 0.9%[19] Investments and Projects - The company plans to invest $61.5 million in a new production line in the U.S. with an expected annual output of 20 million square meters of new inorganic composite flooring[13] - The projected annual revenue from the new U.S. project is $33.8 million, equivalent to approximately 243.36 million RMB[13] - The after-tax profit from the new project is estimated at $2.181 million, or about 15.7032 million RMB[13] - The new project has a financial internal rate of return of 24.76% and a payback period of 5.7 years[13] Research and Development - Research and development expenses increased by 49.61% to ¥5,347,611.98, reflecting a shift in R&D focus[9] - Research and development expenses rose to ¥5,347,611.98, compared to ¥3,574,371.33 in the previous year, an increase of approximately 49.5%[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 18,918, with no preferred shareholders having restored voting rights[11] - The largest shareholder, Fang Qinghua, holds 40.73% of the shares, amounting to 87,966,000 shares[11] Product Development - The company launched a new type of PET composite flooring in January 2024, enhancing mechanical strength and thermal resistance[15] - The new PET flooring product aims to mitigate the impact of product traceability issues and strengthen the company's core competitiveness[15] - The company is transitioning from a single PVC flooring manufacturer to a comprehensive provider of new environmentally friendly decorative materials[15] - The new product's market acceptance and revenue potential are uncertain and depend on market promotion efforts[15] Operating Costs - Total operating costs increased to ¥171,369,188.63, up 3.0% from ¥166,374,879.63 year-over-year[21] - The company incurred 122,949,915.77 CNY in cash payments for goods and services, a decrease from 279,602,555.36 CNY in the same period last year[24] Other Information - The company experienced a 134.89% decrease in net cash flow from investing activities, amounting to ¥121,310,638.70, mainly due to increased investment in financial products[10] - The company did not report any new product launches or significant market expansion strategies during the quarter[28]
天振股份(301356) - 2024 Q1 - 季度财报