YMCC(SH:600691)2024-04-29 08:07Financial Performance - The company's operating revenue for Q1 2024 was ¥2,756,572,168.13, representing a decrease of 29.33% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥37,439,035.86, a decline of 327.98% year-over-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥58,010,416.72, reflecting a decrease of 723.68%[5]. - The net cash flow from operating activities was -¥77,738,046.97, down 178.51% from the previous year[5]. - Basic and diluted earnings per share were both -¥0.0158, a drop of 328.99% compared to the same period last year[5]. - The net profit for Q1 2024 was -54,063,382.71 RMB, compared to -11,827,209.66 RMB in Q1 2023, indicating a significant decline in profitability[22]. - The total comprehensive income for Q1 2024 was -54,063,382.71 RMB, compared to -11,827,209.66 RMB in Q1 2023, indicating a worsening financial position[22]. Assets and Liabilities - Total assets at the end of the reporting period were ¥21,163,649,330.92, a decrease of 6.03% from the end of the previous year[5]. - Shareholders' equity attributable to the parent company was ¥4,613,011,687.05, down 0.72% from the previous year-end[5]. - Cash and cash equivalents decreased to CNY 5,643,682,212.12 from CNY 7,243,262,499.97, a decline of 22.1%[15]. - Accounts receivable decreased to CNY 802,943,513.87 from CNY 861,549,179.06, a reduction of 6.8%[15]. - Inventory increased to CNY 2,291,886,678.95 from CNY 2,181,095,883.38, an increase of 5.1%[15]. - Current liabilities decreased to CNY 14,362,078,301.09 from CNY 16,114,633,670.16, a decline of 10.9%[16]. - Non-current liabilities increased to CNY 2,358,170,351.69 from CNY 1,912,696,591.01, an increase of 23.2%[17]. - Total assets decreased to CNY 21,163,649,330.92 from CNY 22,520,638,810.24, a decline of 6.0%[16]. Revenue and Costs - Total operating revenue for Q1 2024 was CNY 2,756,572,168.13, a decrease of 29.3% compared to CNY 3,900,389,201.51 in Q1 2023[20]. - Total operating costs for Q1 2024 were CNY 2,847,123,836.25, down 27.2% from CNY 3,908,873,565.74 in Q1 2023[20]. - Total revenue from sales in Q1 2024 was 3,192,699,509.93 RMB, down from 3,869,185,087.43 RMB in Q1 2023, representing a decline of approximately 17.5%[24]. Cash Flow - Operating cash flow for Q1 2024 was -77,738,046.97 RMB, a decrease from 99,011,059.94 RMB in Q1 2023, reflecting a negative cash flow situation[25]. - The company incurred a total of 3,319,204,975.41 RMB in cash outflows from operating activities in Q1 2024, compared to 3,790,038,031.48 RMB in Q1 2023, showing a reduction in cash outflows[25]. - The net cash flow from financing activities in Q1 2024 was -702,634,801.87 RMB, compared to -270,313,610.91 RMB in Q1 2023, indicating increased cash outflows related to financing[25]. Market Conditions and Future Plans - The significant decline in net profit was primarily due to the impact of chemical product market conditions and a substantial drop in product prices[9]. - The company plans to focus on expanding its market presence and investing in new technologies to drive future growth[18]. - Research and development expenses increased to 61,041,371.75 RMB in Q1 2024, compared to 31,372,718.83 RMB in Q1 2023, showing a growth of 94.5%[24]. - Financial expenses, including interest expenses, were 85,596,363.48 RMB in Q1 2024, down from 96,698,060.39 RMB in Q1 2023, indicating a reduction of about 11.5%[24].