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海尔智家(600690) - 2024 Q1 - 季度财报

Financial Performance - In Q1 2024, the company achieved revenue of CNY 68.98 billion, a 6.01% increase compared to the same period last year[4] - Net profit attributable to shareholders reached CNY 4.77 billion, reflecting a growth of 20.16% year-on-year[4] - The net profit excluding non-recurring gains and losses was CNY 4.64 billion, up 25.41% from the previous year[4] - The gross margin for Q1 2024 was 29.0%, up 0.3 percentage points from the same period last year[10] - Revenue from the Chinese market grew by 8.1%, with significant contributions from the refrigeration and washing industries[7] - Overseas revenue increased by 4%, with operating profit growing by over 10% despite challenges in major markets[9] - Total operating revenue for Q1 2024 reached ¥68.98 billion, an increase of 5.5% compared to ¥65.07 billion in Q1 2023[27] - Net profit attributable to shareholders of the parent company for Q1 2024 was ¥4.77 billion, a significant increase of 20.1% from ¥3.97 billion in Q1 2023[29] - The company reported a comprehensive income total of ¥4.16 billion for Q1 2024, compared to ¥3.26 billion in Q1 2023, marking a growth of 27.6%[30] Cash Flow and Investments - The company's operating cash flow for the quarter was CNY 1.72 billion, an increase of 27.31% year-on-year[5] - In Q1 2024, the net cash flow from operating activities was RMB 1.725 billion, an increase of RMB 370 million compared to Q1 2023, primarily due to increased operating profit and improved operational efficiency[14] - The net cash outflow from investing activities in Q1 2024 was RMB 2.212 billion, an increase of RMB 756 million compared to Q1 2023, mainly due to higher cash payments for purchasing long-term deposits and constructing fixed assets, intangible assets, and other long-term assets[14] - The net cash outflow from financing activities in Q1 2024 was RMB 341 million, compared to a net cash inflow of RMB 1.358 billion in Q1 2023, primarily due to loan repayments, stock buybacks, and increased interest expenses influenced by overseas rate hikes[14] - Total cash inflow from investment activities was CNY 2.18 billion, down from CNY 3.26 billion in Q1 2023, a decrease of approximately 33.3%[32] - Cash outflow from financing activities totaled CNY 3.28 billion, significantly higher than CNY 1.84 billion in Q1 2023, marking an increase of about 77.6%[33] Assets and Liabilities - As of March 31, 2024, total assets reached RMB 257.86 billion, an increase from RMB 253.38 billion at the end of 2023[25] - The company's total liabilities increased to CNY 53.87 billion, compared to CNY 46.34 billion in the previous year, representing a rise of about 16.5%[36] - The asset-liability ratio at the end of Q1 2024 was 57.3%, a decrease of 0.9 percentage points from the end of 2023, mainly due to the growth in net profit[16] - The total liabilities of the company as of Q1 2024 were ¥147.85 billion, slightly up from ¥147.47 billion in the previous year[26] - The total equity attributable to shareholders of the parent company increased to ¥107.28 billion in Q1 2024 from ¥103.51 billion in Q1 2023, reflecting a growth of 3.3%[26] Research and Development - The company’s R&D expense ratio was 4.3%, reflecting a focus on core technologies in the smart home sector[11] - Research and development expenses for Q1 2024 amounted to ¥2.94 billion, an increase from ¥2.74 billion in Q1 2023, indicating a year-over-year rise of 7.4%[29] - The company reported a development expenditure of RMB 403.69 million, significantly higher than RMB 266.49 million in the previous period[25] - Research and development expenses increased to CNY 3,836,325.20 in Q1 2024, up from CNY 2,282,302.54 in Q1 2023, reflecting a focus on innovation[39] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 128,742, with the top ten shareholders holding a combined 61.02% of the shares[19] - HKSCC NOMINEES LIMITED held 24.52% of the shares, while Haier Kaos Co., Ltd. and Haier Group Company held 13.34% and 11.36% respectively[19] - The company’s repurchase account held a total of 145,238,037 shares as of the end of the reporting period[20] - The top ten shareholders and the top ten unrestricted circulating shareholders did not participate in any margin financing or securities lending activities during the reporting period[21] - The company repurchased a total of 83,349,394 shares at a maximum price of RMB 24.96 per share, with a total payment of approximately RMB 1.88 billion[22] Financial Ratios and Metrics - The average accounts receivable turnover days increased to 41.7 days, up 3.7 days from the end of 2023[12] - The inventory turnover days improved to 81.2 days, a reduction of 1.5 days compared to the end of 2023[13] - The basic earnings per share for Q1 2024 were ¥0.52, compared to ¥0.43 in Q1 2023, indicating an increase of 20.9%[30] - The company's cash and cash equivalents were RMB 53.62 billion, slightly down from RMB 54.49 billion at the end of 2023[24] - Accounts receivable increased to RMB 21.67 billion, up from RMB 20.27 billion, reflecting a growth of approximately 6.9%[24] - Inventory rose to RMB 41.28 billion, compared to RMB 39.52 billion, indicating an increase of about 4.5%[24]