法拉电子(600563) - 2024 Q1 - 季度财报

Main Financial Data In Q1 2024, the company's operating revenue increased by 5.48% year-on-year, but net profit attributable to shareholders decreased by 6.76%, with net cash flow from operating activities turning negative due to increased bill discounting and tax payments | Indicator | Current Period | Year-on-Year Change (%) | | :--- | :--- | :--- | | Operating Revenue | $980.25 million | 5.48% | | Net Profit Attributable to Shareholders | $215.55 million | -6.76% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | $203.18 million | -11.64% | | Net Cash Flow from Operating Activities | -$68.01 thousand | -100.30% | | Basic Earnings Per Share ($/share) | $0.96 | -6.72% | | Weighted Average Return on Net Assets | 4.48% | Decreased by 1.03 percentage points | | Indicator | End of Current Period | Change from End of Last Year (%) | | Total Assets | $6.54 billion | 3.65% | | Equity Attributable to Shareholders | $4.91 billion | 4.58% | - During the reporting period, net cash flow from operating activities decreased by 100.30% year-on-year, primarily due to bill discounting and tax payments[6] - Total non-recurring gains and losses for the period amounted to $12.38 million, mainly from government grants ($11.33 million) and fair value changes and disposal gains of financial assets ($1.79 million)[5] Shareholder Information As of the end of the reporting period, the company had 18,060 common shareholders, with a diversified equity structure among its top ten shareholders - As of the end of the reporting period, the company had 18,060 common shareholders[7] | Shareholder Name | Shareholder Type | Holding Percentage (%) | | :--- | :--- | :--- | | Xiamen Fara Development Co., Ltd. | Domestic Non-State-Owned Legal Person | 37.33% | | Hong Kong Securities Clearing Company Limited | Unknown | 6.55% | | Xiamen C&D Group Co., Ltd. | State-Owned Legal Person | 5.25% | | National Social Security Fund 406 Portfolio | Unknown | 3.72% | | China Construction Bank - Qianhai Open Source Public Utility Industry Stock Investment Fund | Unknown | 3.23% | Other Reminders The company has no other significant information regarding its operations that requires special attention from investors during this reporting period - The company has no other significant operational information requiring investor attention during the reporting period[9] Quarterly Financial Statements This section includes the company's unaudited consolidated balance sheet, income statement, and cash flow statement for Q1 2024, comprehensively reflecting its financial position, operating results, and cash flows - The company's Q1 2024 financial statements are unaudited[3][10] Consolidated Balance Sheet As of March 31, 2024, total assets were $6.54 billion and equity attributable to shareholders was $4.91 billion, both showing stable growth, with notable increases in trading financial assets and accounts receivable financing | Key Balance Sheet Items | March 31, 2024 ($) | December 31, 2023 ($) | Change (%) | | :--- | :--- | :--- | :--- | | Cash and Bank Balances | $392.05 million | $593.23 million | -33.91% | | Trading Financial Assets | $762.09 million | $512.09 million | 48.82% | | Accounts Receivable | $1.20 billion | $1.14 billion | 5.56% | | Inventories | $625.19 million | $671.24 million | -6.86% | | Fixed Assets | $1.50 billion | $1.49 billion | 0.45% | | Total Assets | $6.54 billion | $6.31 billion | 3.65% | | Notes Payable | $818.59 million | $725.99 million | 12.76% | | Total Liabilities | $1.57 billion | $1.55 billion | 0.95% | | Total Equity Attributable to Parent Company Shareholders | $4.91 billion | $4.70 billion | 4.58% | Consolidated Income Statement In Q1 2024, operating revenue increased by 5.48% to $980 million, but net profit attributable to the parent company decreased by 6.76% to $216 million, primarily due to rising operating costs and a shift in financial expenses | Key Income Statement Items | Q1 2024 ($) | Q1 2023 ($) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | $980.25 million | $929.33 million | 5.48% | | Operating Costs | $655.63 million | $579.41 million | 13.16% | | R&D Expenses | $37.30 million | $33.89 million | 10.06% | | Financial Expenses | $1.90 million | -$5.97 million | Not applicable | | Operating Profit | $248.40 million | $265.36 million | -6.39% | | Net Profit Attributable to Parent Company Shareholders | $215.55 million | $231.17 million | -6.76% | | Basic Earnings Per Share ($/share) | $0.96 | $1.03 | -6.80% | - Financial expenses shifted from a gain of $5.97 million in the prior year to an expense of $1.90 million this period, primarily due to interest income decreasing from $9.76 million in the prior year to $1.20 million this period[18] Consolidated Cash Flow Statement Net cash flow from operating activities was -$68 thousand, a 100.30% year-on-year decrease, turning negative due to increased taxes paid, while net cash outflow from investing activities narrowed to $199 million | Key Cash Flow Items | Q1 2024 ($) | Q1 2023 ($) | Y-o-Y Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -$68.01 thousand | $22.41 million | -100.30% | | Net Cash Flow from Investing Activities | -$199.76 million | -$227.37 million | 12.15% | | Net Cash Flow from Financing Activities | -$83.42 thousand | -$20.28 thousand | -311.36% | | Net Increase in Cash and Cash Equivalents | -$201.18 million | -$205.26 million | 1.99% | | Cash and Cash Equivalents at Period-End | $392.05 million | $323.03 million | 21.37% | - Among operating cash outflows, "taxes and surcharges paid" significantly increased from $38.15 million in the prior year to $85.87 million, a key factor contributing to the negative net operating cash flow[22]