QIFAN(SH:605222)2024-04-29 08:05Financial Performance - The company's operating revenue for Q1 2024 was CNY 4,800,795,806.05, representing a year-on-year increase of 5.27%[5] - The net profit attributable to shareholders decreased by 44.89% to CNY 85,030,961.53 compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 37.33% to CNY 80,850,631.32[5] - The basic earnings per share decreased by 45.95% to CNY 0.20, while diluted earnings per share decreased by 44.12% to CNY 0.19[5] - Net profit for Q1 2024 was CNY 85,200,796.91, down from CNY 154,477,459.57 in Q1 2023, reflecting a decrease of approximately 44.8%[21] - Basic earnings per share for Q1 2024 were CNY 0.20, compared to CNY 0.37 in Q1 2023, indicating a decline of about 45.9%[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,527,031,796.04, a decrease of 0.15% from the end of the previous year[6] - As of March 31, 2024, the company's total assets amounted to approximately ¥13.53 billion, a slight decrease from ¥13.55 billion as of December 31, 2023[15] - The company's current assets totaled ¥11.07 billion, compared to ¥11.26 billion at the end of 2023, indicating a decrease of about 1.65%[16] - Total liabilities as of Q1 2024 were CNY 8,864,896,300.52, slightly down from CNY 8,970,661,608.22 in Q1 2023[18] - The company’s total non-current liabilities rose to CNY 1,401,080,233.15 in Q1 2024 from CNY 1,339,582,248.97 in Q1 2023, an increase of about 4.6%[18] Cash Flow - The company's cash flow from operating activities was negative at CNY -989,426,655.52, indicating cash outflow[5] - Cash flow from operating activities increased to CNY 4,971,162,171.31 in Q1 2024 from CNY 4,196,924,048.74 in Q1 2023, representing an increase of approximately 18.4%[24] - The net cash flow from operating activities for Q1 2024 was -989,426,655.52, an improvement from -1,214,831,850.58 in Q1 2023, indicating a reduction in cash outflow[25] - Total cash inflow from operating activities was 5,274,578,424.94, compared to 4,548,403,717.04 in the previous year, reflecting a year-over-year increase of approximately 16%[25] - Cash outflow for operating activities increased to 6,264,005,080.46 from 5,763,235,567.62, representing a rise of about 8.7%[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,457[12] - The company has not disclosed any significant changes in shareholder participation in financing or securities lending activities during the reporting period[14] Market Conditions - The company faced intensified market competition, leading to sales discounts and a reduction in gross profit margins[10] Research and Development - The company reported a decrease in research and development expenses to CNY 16,727,264.98 in Q1 2024 from CNY 26,735,379.12 in Q1 2023, a reduction of approximately 37.5%[20] Cash and Cash Equivalents - Cash and cash equivalents were reported at ¥838.63 million, down from ¥2.62 billion, reflecting a significant decline of approximately 68%[15] - The cash and cash equivalents at the end of Q1 2024 stood at 621,167,396.45, down from 775,849,214.23 in Q1 2023, indicating a decrease of about 20%[26] Operating Costs - Total operating costs increased to CNY 4,688,733,532.34 in Q1 2024 from CNY 4,360,794,308.07 in Q1 2023, marking an increase of about 7.5%[20] Employee Compensation and Tax Payments - The company paid 185,228,356.77 in employee compensation, slightly up from 182,289,176.21, reflecting a marginal increase of about 1%[25] - The total tax payments made were 171,568,533.76, down from 197,260,591.82, indicating a decrease of approximately 13%[25]