Canatal(SH:603912)2024-04-29 08:05Financial Performance - The company's total revenue for Q1 2024 was CNY 114.23 million, an increase of 2.64% compared to the same period last year[3]. - Net profit attributable to shareholders decreased by 45.57% to CNY 2.34 million, while the net profit after deducting non-recurring gains and losses increased by 123.43% to CNY 0.58 million[3][4]. - The basic earnings per share (EPS) was CNY 0.0043, down 45.57% year-on-year, while diluted EPS was CNY 0.0042, down 44.74%[3][9]. - Net profit for Q1 2024 was CNY 2,358,992.80, down 45.0% from CNY 4,290,578.56 in Q1 2023[21]. - Operating profit for Q1 2024 decreased to CNY 1,729,593.43 from CNY 7,317,643.28 in Q1 2023, indicating a significant decline[21]. - The total comprehensive income for Q1 2024 was -7,642,427.72 RMB, an improvement from -8,583,994.33 RMB in Q1 2023[33]. Cash Flow - The net cash flow from operating activities was negative at CNY -46.75 million, representing a decrease of 70.70% year-on-year[3][9]. - Cash flow from operating activities for Q1 2024 was negative at CNY -46,753,097.99, an improvement from CNY -159,585,457.37 in Q1 2023[25]. - Cash inflow from investment activities in Q1 2024 was CNY 427,178,713.56, compared to CNY 200,787,109.90 in Q1 2023, showing a substantial increase[25]. - The net cash flow from investment activities was 206,258,487.29 RMB, compared to 49,122,270.69 RMB in Q1 2023, showing a substantial increase[36]. - The net cash flow from operating activities was -153,351,142.66 RMB, an improvement from -237,619,487.32 RMB in the same period last year[36]. Assets and Liabilities - Total assets as of March 31, 2024, were CNY 3,329.52 million, a 12.03% increase from the end of the previous year[4]. - The company’s total liabilities increased to RMB 1,126,816,111.47 from RMB 774,897,628.64, which is an increase of approximately 45.5%[17]. - Total current assets increased to RMB 2,611,131,420.02 from RMB 2,280,843,475.60, reflecting a growth of about 14.5%[15]. - Total liabilities as of Q1 2024 were CNY 1,434,346,954.67, up from CNY 1,079,262,588.85 in Q1 2023[18]. - The company's total liabilities as of March 31, 2024, were CNY 1,432,593,911.35, an increase from CNY 1,079,128,225.68 at the end of 2023[30]. Shareholder Information - Total number of common shareholders at the end of the reporting period was 52,940[11]. - The company reported a total of 156,636,773 shares held by its largest shareholder, accounting for 28.91% of total shares[11]. - The company has no significant changes in the top 10 shareholders or their shareholding status compared to the previous period[12]. Research and Development - Research and development expenses increased to CNY 12,372,472.26 in Q1 2024, up from CNY 9,962,532.92 in Q1 2023, representing a 24.3% increase[21]. - Research and development expenses increased to CNY 10,243,219.08 in Q1 2024, compared to CNY 8,520,193.13 in Q1 2023, reflecting a growth of 20.2%[32]. Inventory and Orders - The company had a backlog of orders amounting to CNY 793.25 million as of March 31, 2024[5]. - The company experienced a 328.77% increase in prepayments, attributed to increased inventory due to higher order volumes[9]. - The company's inventory as of March 31, 2024, was CNY 411,427,892.99, up from CNY 379,499,863.63 at the end of Q1 2023[29]. Other Financial Metrics - The weighted average return on equity (ROE) was 0.12%, a decrease of 0.31 percentage points compared to the previous year[3]. - Non-recurring gains and losses amounted to CNY 1.75 million, with a significant reduction in government subsidies contributing to this figure[7][8]. - The company reported a decrease in tax expenses, with income tax expense for Q1 2024 at CNY -433,703.59 compared to CNY 2,932,300.23 in Q1 2023[21].