精进电动(688280) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 reached ¥274,814,582.51, representing a year-on-year increase of 54.42%[5] - Total operating revenue for Q1 2024 reached ¥274,814,582.51, a significant increase from ¥177,962,847.47 in Q1 2023, representing a growth of approximately 54.4%[24] - The net profit attributable to shareholders was -¥119,946,572.83, showing an improvement of 1.41% compared to the same period last year[7] - The net loss for Q1 2024 was ¥119,946,572.83, slightly improved from a net loss of ¥121,660,711.27 in Q1 2023[25] - The company's total assets as of Q1 2024 amounted to ¥2,602,064,209.72, compared to ¥2,555,603,770.57 in the previous year, reflecting an increase of approximately 1.8%[20] - Total liabilities increased to ¥1,706,017,296.39 in Q1 2024 from ¥1,540,614,038.15 in Q1 2023, marking a rise of about 10.7%[20] - The total equity attributable to shareholders decreased to ¥896,046,913.33 in Q1 2024 from ¥1,014,989,732.42 in Q1 2023, a decline of about 11.7%[20] Cash Flow - The net cash flow from operating activities improved by 45.73%, primarily due to increased revenue leading to better cash receipts from sales[7] - The company's cash flow from operating activities for Q1 2024 showed a net outflow, indicating challenges in cash generation despite revenue growth[26] - In Q1 2024, cash inflow from operating activities was $232,986,565.20, an increase of 10.4% compared to $210,046,810.38 in Q1 2023[27] - The net cash flow from operating activities was -$51,584,369.60, an improvement from -$95,060,018.26 in the same period last year[27] - Cash outflow for purchasing goods and services decreased to $148,724,626.53 from $174,663,708.71, a reduction of 14.9%[27] - Cash inflow from financing activities increased to $100,290,000.00, up from $60,000,000.00, representing a 67.2% increase year-over-year[28] - The net cash flow from financing activities was $33,235,220.30, compared to $15,643,990.77 in Q1 2023, indicating a significant improvement[28] - Cash and cash equivalents decreased to RMB 216,159,102.23 from RMB 288,779,714.94, representing a decline of about 25%[18] - Cash and cash equivalents at the end of Q1 2024 were $151,889,952.39, down from $709,843,196.73 in Q1 2023[28] Research and Development - Research and development expenses totaled ¥23,532,210.60, which is a decrease of 55.55% year-on-year, indicating a shift towards more revenue-generating projects[6] - The proportion of R&D expenses to revenue was 8.56%, down by 21.19 percentage points compared to the previous year[6] - Research and development expenses for Q1 2024 were ¥23,532,210.60, down from ¥52,942,870.33 in Q1 2023, showing a reduction of approximately 55.6%[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,695[12] - The top ten shareholders collectively hold 6.29% of the company's shares, with Shanghai Licheng Investment Management Center (Limited Partnership) holding 0.54%[15] Assets and Inventory - Total assets at the end of the reporting period were ¥2,602,064,209.72, reflecting a 1.82% increase from the end of the previous year[6] - The total current assets as of March 31, 2024, amounted to RMB 1,452,571,013.65, an increase from RMB 1,434,566,290.66 as of December 31, 2023, reflecting a growth of approximately 1.9%[18] - Accounts receivable increased significantly to RMB 364,666,593.96 from RMB 301,310,659.66, marking an increase of approximately 21%[18] - Inventory rose to RMB 658,674,223.33 from RMB 633,099,246.94, indicating a growth of around 4%[18] - The company’s contract assets increased to RMB 34,333,980.76 from RMB 25,129,276.26, reflecting a growth of approximately 36%[18] Operational Insights - The company experienced significant growth in its electric drive system revenue for both commercial and passenger vehicles, driven by increased customer demand domestically and internationally[6] - The company completed more projects that met revenue recognition standards, contributing to the increase in technical development and service revenue[6] - The company has not reported any significant changes in the operational situation during the reporting period[17] - There are no applicable reminders for investors regarding the company's operational situation during the reporting period[17] - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[26]