HUAFANG COMPANY(SH:600448)2024-04-29 09:15Financial Performance - The company's operating revenue for Q1 2024 was CNY 661,414,927.29, representing a year-on-year increase of 3.93%[6] - The net profit attributable to shareholders decreased by 14.70% to CNY 945,438.85 compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 498.91% to CNY 278,834.70[6] - Total operating revenue for Q1 2024 was CNY 661,414,927.29, an increase of 3.4% compared to CNY 636,399,707.18 in Q1 2023[19] - Net profit for Q1 2024 was CNY 862,764.88, compared to CNY 1,316,028.63 in Q1 2023, representing a decrease of 34.5%[20] - Total comprehensive income for the first quarter of 2024 was CNY 862,764.88, a decrease from CNY 1,316,028.63 in the same period of 2023, representing a decline of approximately 34.4%[21] - The company reported a basic and diluted earnings per share of CNY 0.0015 for Q1 2024, down from CNY 0.0018 in Q1 2023[21] Cash Flow and Liquidity - The net cash flow from operating activities fell significantly by 73.99% to CNY 29,840,865.26[6] - Net cash flow from operating activities for Q1 2024 was CNY 29,840,865.26, down 73.9% from CNY 114,717,372.51 in Q1 2023[24] - Cash received from sales of goods and services was CNY 677,331,501.30, a decrease of 10.7% compared to CNY 758,217,479.01 in the previous year[23] - Cash and cash equivalents at the end of Q1 2024 were CNY 39,909,338.92, down from CNY 116,182,897.03 at the end of Q1 2023, a decrease of 65.6%[32] - The net cash flow from operating activities for Q1 2024 was CNY 10,437,492.33, a decline of 88.6% compared to CNY 92,038,433.45 in Q1 2023[32] - The company incurred a net cash outflow from investing activities of CNY 16,813,404.03, an improvement from a net outflow of CNY 29,385,809.41 in the same quarter last year[24] - The company reported a decrease in cash flow from investing activities, with a net outflow of CNY 16,813,404.03 in Q1 2024 compared to CNY 29,385,809.41 in Q1 2023[32] Assets and Liabilities - The total assets at the end of the reporting period increased by 1.02% to CNY 3,523,146,751.93 compared to the end of the previous year[7] - Total assets increased to CNY 3,523,146,751.93 as of March 31, 2024, compared to CNY 3,487,740,130.86 at the end of 2023[16] - Total liabilities amounted to CNY 2,264,139,103.17, an increase from CNY 2,229,595,246.98 at the end of 2023[16] - The total liabilities increased to CNY 2,225,651,677.12 in Q1 2024 from CNY 2,198,082,491.62 in Q1 2023, marking a rise of 1.3%[27] - The total equity attributable to shareholders of the parent company was CNY 1,255,326,236.48 as of March 31, 2024, slightly up from CNY 1,254,380,797.63 at the end of 2023[16] - The total equity as of the end of Q1 2024 was CNY 1,274,486,644.30, slightly up from CNY 1,272,544,793.98 in Q1 2023, indicating a growth of 0.2%[27] Research and Development - The company's research and development expenses decreased by 63.91% due to new projects not yet fully invested[9] - Research and development expenses for Q1 2024 were CNY 11,609,822.63, significantly lower than CNY 32,171,980.27 in Q1 2023, indicating a decrease of 63.9%[20] - Research and development expenses decreased to CNY 10,803,251.09 in Q1 2024 from CNY 31,299,050.51 in Q1 2023, a reduction of 65.5%[28] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 33,853[11] - The largest shareholder, Binzhou Antai Holding Group Co., Ltd., holds 18.63% of the shares, totaling 117,364,470 shares[11] Future Outlook - The company plans to focus on improving operational efficiency and exploring new market opportunities in the upcoming quarters[21] - The company will implement new accounting standards starting from 2024, which will involve adjustments to the financial statements at the beginning of the year[33]