*ST红相(300427) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was ¥64,961,424.80, a decrease of 80.11% compared to ¥368,880,337.53 in the same period last year[5]. - The net profit attributable to shareholders was -¥32,788,141.41, representing a decline of 177.40% from ¥42,433,687.76 in the previous year[5]. - Operating revenue for the reporting period was 649.61 million yuan, a decrease of 2.62 billion yuan or 80.11% compared to the same period last year, mainly due to the sale of a subsidiary and delays in product acceptance by customers[15][17]. - The company reported a net loss of CNY 40,788,000 for Q1 2024, compared to a net loss of CNY 20,000,000 in Q1 2023, indicating ongoing challenges[34]. - The net profit for Q1 2024 was -33,834,778.71, a significant decline compared to the net profit of 39,433,123.65 in Q1 2023, representing a year-over-year decrease of approximately 186%[35]. - Operating profit for Q1 2024 was -35,672,206.80, compared to an operating profit of 51,923,389.79 in the same period last year, indicating a decline of around 168%[35]. - Total revenue from operating activities was 206,534,786.69, down from 379,760,565.77 in Q1 2023, reflecting a decrease of approximately 46%[37]. - The total comprehensive income for Q1 2024 was -33,877,618.10, compared to 43,486,396.96 in Q1 2023, marking a decline of approximately 178%[36]. Cash Flow and Financial Position - The cash flow from operating activities showed a net outflow of -¥12,593,950.51, an improvement of 87.00% compared to -¥96,843,152.21 in the same period last year[5]. - Cash flow from investment activities increased by 1.61 billion yuan, a growth of 1932.77%, mainly due to the receipt of payment from the sale of a subsidiary[20]. - Cash flow from financing activities decreased by 2.49 billion yuan, a decline of 230.62%, primarily due to the repayment of bank loans[20]. - Cash and cash equivalents at the end of Q1 2024 amounted to CNY 594,213,298.01, an increase from CNY 584,184,445.19 at the beginning of the quarter[30]. - Cash and cash equivalents at the end of Q1 2024 amounted to 590,038,740.14, an increase from 398,398,429.85 at the end of Q1 2023[39]. - The company incurred financial expenses of 12,692,892.05 in Q1 2024, down from 18,438,766.85 in the same period last year, a decrease of about 31%[35]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,622,835,083.40, down 5.40% from ¥2,772,663,526.95 at the end of the previous year[5]. - Total liabilities decreased by 201.28 million yuan, a decline of 11.17%, reflecting the company's efforts to reduce debt[11]. - Total liabilities decreased to CNY 1,600,315,077.38 from CNY 1,801,594,702.70, indicating a reduction in financial obligations[32]. - Total equity attributable to shareholders of the listed company increased by 62.15 million yuan, a growth of 6.49%[13]. - Shareholders' equity increased to CNY 1,022,520,006.02 from CNY 961,421,448.79, showing a strengthening of the company's financial position[32]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 14,668[23]. - The top 10 shareholders hold a combined total of 86,820,304 shares, representing 22.52% of the company's total equity[24]. - Yang Baotian and Yang Cheng, who are father and son, are the actual controllers of the company, holding 15.51% and 7.01% of shares respectively[24]. - The largest shareholder, Yang Baotian, holds 59,780,469 shares, while the second-largest, Yang Cheng, holds 27,039,835 shares[23]. - The company has no preferred shareholders or related party transactions among the top 10 shareholders[25]. - The number of shares held by the top 10 unrestricted shareholders totals 86,820,304 shares[24]. - Yang Cheng has 20,279,876 restricted shares, which will be released at a rate of 25% annually[26]. - The company has implemented a stock incentive plan that affects the release of restricted shares for executives[27]. - The total number of shares held by the top 10 unrestricted shareholders is 86,820,304, with no changes reported in the current period[24]. - The company has not disclosed any changes in the shareholding structure of the top 10 shareholders due to margin trading activities[24]. Operational Insights - The company reported a significant decrease in accounts receivable, which fell by 9.09% to ¥42,437.14 million from ¥46,678.32 million at the beginning of the year[10]. - The company experienced a 31.30% increase in receivables financing, rising to ¥2,386.66 million from ¥1,817.77 million at the beginning of the year[10]. - The company received government subsidies amounting to ¥288,741.53, which are closely related to its normal business operations[7]. - The company reported a total of ¥162,640.44 in non-recurring gains and losses for the reporting period[7]. - The company is undergoing a retrospective adjustment of financial statements from 2017 to 2022 due to previous accounting errors identified by regulatory authorities[6]. - As of the end of the reporting period, short-term loans decreased by 100.11 million yuan, a decline of 28.44%, primarily due to the company's repayment of part of the loans to reduce financial risk[11]. - Contract liabilities increased by 84.07 million yuan, a growth of 36.23%, mainly due to an increase in advance payments received during the reporting period[12]. - Long-term loans decreased by 27.16 million yuan, a decline of 31.53%, as the company repaid part of the loans to mitigate financial risk[12]. - Operating costs decreased by 190.66 million yuan, a decline of 81.77%, primarily due to the same reasons affecting revenue[15][17]. - Research and development expenses for Q1 2024 were 11,274,995.00, down from 17,542,537.40 in Q1 2023, a reduction of about 36%[35]. - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[34].