HCET(SZ:002729)2024-04-28 08:25Financial Performance - The company's revenue for Q1 2024 was ¥65,152,494.28, representing a 6.90% increase compared to ¥60,949,838.72 in the same period last year[5]. - Net profit attributable to shareholders increased by 12.35% to ¥6,057,981.32 from ¥5,392,036.38 year-on-year[5]. - The company reported total operating revenue of RMB 65,152,494.28 for the first quarter of 2024, an increase of 3.6% compared to RMB 60,949,838.72 in the same period last year[28]. - Net profit for Q1 2024 reached CNY 6,057,981.32, up 12.9% from CNY 5,360,686.53 in the same period last year[30]. - The company’s total comprehensive income for Q1 2024 was CNY 6,035,644.28, compared to CNY 5,155,357.50 in Q1 2023, indicating a growth of 17.0%[30]. - Basic and diluted earnings per share remained stable at CNY 0.03 for both Q1 2024 and Q1 2023[30]. Cash Flow and Expenses - The net cash flow from operating activities surged by 207.72%, reaching ¥23,373,094.95, compared to a negative cash flow of -¥21,697,702.27 in Q1 2023[13]. - Operating cash flow for Q1 2024 was CNY 23,373,094.95, a significant improvement from a negative cash flow of CNY 21,697,702.27 in Q1 2023[32]. - The company experienced a decrease in tax expenses, with Q1 2024 tax expenses at CNY 450,926.57, down from CNY 974,348.09 in Q1 2023, a reduction of 53.8%[29]. - The company reported a significant decrease in financial expenses by 94.79%, down to ¥32,573.84 from ¥624,843.41, attributed to reduced bank borrowings[10]. Assets and Liabilities - The total assets at the end of the reporting period were ¥592,202,534.69, a 1.61% increase from ¥582,843,535.61 at the end of the previous year[5]. - The company’s total liabilities increased by 90.92% to ¥5,476,562.06, mainly due to the receipt of intention funds for equity transfer[9]. - The company’s total liabilities increased to RMB 97,719,760.25 from RMB 94,396,405.45, representing a rise of 3.5%[26]. - The company’s equity attributable to shareholders rose to RMB 494,482,774.44 from RMB 488,447,130.16, reflecting an increase of 1.7%[26]. - The company has no short-term borrowings as of the end of the reporting period, a decrease of 100% from ¥100,105.42 at the end of the previous year[9]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 23,148[14]. - The top 10 shareholders hold a total of 44,864,400 shares, representing 24.52% of the total shares[14]. - The largest shareholder, Xusheng Asia Investment Co., Ltd., has pledged 32,350,000 shares[14]. - The top 10 shareholders include both domestic individuals and foreign entities, with significant stakes held by natural persons[15]. Acquisition Activities - The company is in the process of acquiring control of Shanghai Jiaxing Automotive Service Co., Ltd. through a combination of issuing shares and cash payments[16]. - The company plans to raise supporting funds by issuing shares to no more than 35 qualified investors[16]. - As of the reporting date, the audit and evaluation work related to the acquisition is still ongoing[17]. - The actual controller, Mr. Tang Qiqing, is under investigation by the China Securities Regulatory Commission, which may affect the acquisition[18]. - The company has disclosed multiple progress announcements regarding the acquisition from December 2022 to April 2024[19]. Investment Activities - The company’s cash flow from investing activities decreased by 60.07% to ¥12,156,002.59, reflecting a reduction in equity transfer proceeds compared to the previous year[13]. - The company completed the transfer of 18.2318% equity in Hefei QuSuo Super Dimension Integrated Circuit Co., Ltd. for RMB 9,197,801.97, aiming to optimize asset structure and reduce investment risks[20].