Wanli New Energy(SH:600847)2024-04-29 08:56Financial Performance - The company's operating revenue for Q1 2024 was ¥123,528,340.30, representing a decrease of 7.67% compared to the same period last year[4]. - Total operating revenue for Q1 2024 was ¥123,528,340.30, a decrease of 7.4% compared to ¥133,789,228.26 in Q1 2023[26]. - The net profit attributable to shareholders was a loss of ¥6,854,982.89, indicating a significant increase in losses due to intensified market competition and rising material costs[4][8]. - Net loss for Q1 2024 was ¥6,854,982.89, compared to a net loss of ¥3,320,803.06 in Q1 2023, representing a significant increase in losses[27]. - Basic and diluted earnings per share for Q1 2024 were both -¥0.04, compared to -¥0.02 in Q1 2023[28]. - The company's weighted average return on equity was -1.04%, a decrease of 0.56 percentage points year-on-year[4]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥33,183,459.92, reflecting challenges in cash generation[4]. - Cash inflow from operating activities in Q1 2024 was ¥111,839,033.10, an increase from ¥103,297,840.92 in Q1 2023[30]. - The net cash flow from operating activities for Q1 2024 was -$33,183,459.92, compared to -$30,521,417.05 in Q1 2023, indicating a decline in operational cash flow[31]. - The cash and cash equivalents at the end of Q1 2024 were $31,558,347.87, down from $39,140,379.16 at the end of Q1 2023[31]. - The net decrease in cash and cash equivalents for the quarter was -$33,981,024.85, compared to -$30,622,768.18 in the previous year[31]. Assets and Liabilities - Total assets at the end of the reporting period were ¥715,243,333.30, a slight decrease of 0.59% from the previous year[5]. - The company's total liabilities as of Q1 2024 were ¥58,853,154.98, an increase from ¥56,220,543.13 in the previous year[24]. - The total equity attributable to shareholders was ¥656,390,178.32, down from ¥663,245,161.21 in Q1 2023[24]. - The company's fixed assets decreased from RMB 177,676,835.53 at the end of 2023 to RMB 170,613,801.04 by March 31, 2024[22]. - The company's total liabilities include accounts payable of RMB 17,939,301.48 as of March 31, 2024[22]. Inventory and Receivables - Accounts receivable increased by 34.29%, attributed to higher sales on credit during the quarter[8]. - Inventory levels rose by 19.83%, driven by the need to maintain higher stock levels for operations[8]. - The company's inventory increased from RMB 137,611,025.00 at the end of 2023 to RMB 164,899,551.27 by March 31, 2024[22]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,846[10]. - The top 10 shareholders hold a total of 66,000,000 shares, with the largest shareholder, Jiatiantian Asset Management Co., Ltd., owning 17,708,110 shares, representing 11.55% of total shares[11]. - Shenzhen Southern Tongzheng Investment Co., Ltd. holds 10,072,158 shares, accounting for 6.57% of total shares, but these shares are subject to judicial freezing[12]. Legal and Regulatory Matters - The company is involved in a lawsuit initiated by its controlling shareholder, Jiatiantian, seeking a total of RMB 500,000,000 in compensation and penalties from Shenzhen Southern Tongzheng[13]. - The ongoing litigation regarding the equity transfer dispute is still under review as of the report date[14]. - The company initiated arbitration proceedings against Liu Xicheng, Qiu Xiaowei, and Chongqing Tongzheng Industrial for failing to fulfill investment loss compensation obligations, claiming a total of RMB 127,110,000.00[16]. - The company has not disclosed any other potential related party relationships among the remaining shareholders[11]. Investment and Losses - The company reported an investment loss of RMB 127,110,000 from the sale of shares in Terui Battery, which was part of a previous agreement[15]. - The company has a 15.61% stake in Terui Battery, acquired for a total consideration of RMB 255,200,000[14]. - The company confirmed a non-existing business loss of RMB 6,060,227.60 for the first quarter of 2024[17]. - The company reported a non-existing business loss of RMB 21,550,217.00 for the year 2023, with accrued interest for delayed payment of loss compensation amounting to RMB 2,820,507.62[17].