SDWH(600241)2024-04-29 08:55Financial Performance - The company's operating revenue for Q1 2024 was ¥78,325,521.95, representing a decrease of 56.96% compared to the same period last year[5]. - The net profit attributable to shareholders was ¥3,964,825.78, down 68.36% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 70.05% to ¥3,804,369.93[5]. - The basic and diluted earnings per share were both ¥0.01, reflecting a decline of 75.00% compared to the previous year[5]. - Total operating revenue for Q1 2024 was ¥78,325,521.95, a decrease of 56.96% compared to ¥181,969,849.57 in Q1 2023[22]. - Net profit for Q1 2024 was ¥3,563,776.98, a decline of 75.83% from ¥14,718,168.72 in Q1 2023[23]. - Earnings per share for Q1 2024 was ¥0.01, down from ¥0.04 in Q1 2023[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,235,954,383.20, a decrease of 0.79% from the end of the previous year[6]. - The company's total liabilities as of March 31, 2024, were not explicitly stated, but accounts payable decreased to RMB 31,701,549.76 from RMB 51,381,899.99, a decline of approximately 38.34%[17]. - The company reported a total liability of ¥156,450,138.06 as of the end of Q1 2024, a decrease from ¥169,809,139.43 at the end of Q1 2023[18]. Cash Flow - The company reported a net cash flow from operating activities of ¥26,556,059.13, with no applicable year-on-year comparison[5]. - Operating cash flow for Q1 2024 was ¥26,556,059.13, compared to a negative cash flow of -¥63,004,431.25 in Q1 2023[27]. - The total cash inflow from operating activities was ¥108,873,317.00 in Q1 2024, down from ¥187,579,374.35 in Q1 2023[27]. - The net cash flow from investing activities was -$41.31 million, compared to $7.99 million in the previous period[28]. - The total cash inflow from financing activities was $38.59 million, while cash outflow was $52.46 million, resulting in a net cash flow of -$13.87 million[28]. - The net increase in cash and cash equivalents was -$28.05 million, compared to an increase of $8.30 million in the previous period[28]. - The ending balance of cash and cash equivalents was $430.19 million, down from $458.24 million at the beginning of the period[28]. Shareholder Equity - Shareholders' equity attributable to the parent company increased by 0.35% to ¥1,151,332,944.62[6]. - The total equity attributable to shareholders was ¥1,151,332,944.62 in Q1 2024, slightly up from ¥1,147,368,118.84 in Q1 2023[18]. Operational Challenges - The decline in revenue was primarily attributed to a global economic slowdown and reduced customer orders[9]. - The company has no plans for new product launches or market expansions mentioned in the current report, focusing instead on financial stability and debt collection efforts[12]. - As of April 29, 2024, the accounts receivable balance was RMB 73,514,784.13, with overdue amounts reaching RMB 64,690,308.19, highlighting ongoing collection challenges[12]. - The company has engaged two credit investigation agencies to assess the credit status of its subsidiary, indicating a proactive approach to managing overdue receivables[13]. - The company has implemented an aging-based provision for bad debts, reflecting a strategic approach to financial risk management[12]. Research and Development - Research and development expenses for Q1 2024 were ¥5,284,916.66, down 14.65% from ¥6,191,850.20 in Q1 2023[22]. - The company recorded a financial asset impairment loss of -¥670,299.86 in Q1 2024, compared to a gain of ¥403.94 in Q1 2023[22]. Non-Recurring Gains - Non-recurring gains included government subsidies amounting to ¥184,630.00, which are closely related to the company's normal business operations[7]. Equity Ownership - The largest shareholder, Liaoning Times Wan Heng Holding Group Co., Ltd., holds 48.63% of the shares, indicating significant ownership concentration[11]. Accounting Standards - The company did not apply new accounting standards or interpretations for the year 2024[29].