SMEG(SH:600689)2024-04-29 09:12Financial Performance - Operating revenue for Q1 2024 was CNY 243,658,191.93, a decrease of 13.90% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 5,124,733.31, an increase of 92.39% year-on-year[3] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 3,053,424.58, up 180.41% year-on-year[3] - Basic and diluted earnings per share were both CNY 0.026, representing a 100.00% increase compared to the previous year[3] - Total operating revenue for Q1 2024 was CNY 243,658,191.93, a decrease of 14.0% compared to CNY 283,006,716.70 in Q1 2023[20] - Net profit for Q1 2024 was CNY 5,125,732.47, an increase of 92.5% from CNY 2,665,355.88 in Q1 2023[21] - Earnings per share for Q1 2024 were CNY 0.026, compared to CNY 0.013 in Q1 2023, reflecting a 100% increase[21] - The total profit for Q1 2024 was CNY 2,761,859.65, a substantial increase from CNY 35,861.82 in Q1 2023, indicating strong growth in overall financial performance[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 808,625,642.84, an increase of 1.11% from the end of the previous year[3] - Shareholders' equity attributable to shareholders was CNY 448,308,312.89, up 1.16% from the end of the previous year[3] - The company's current assets totaled CNY 558.56 million, up from CNY 526.56 million at the end of 2023, indicating an increase of approximately 6.1%[17] - The total liabilities of the company included accounts payable of CNY 82.74 million, down from CNY 136.54 million, a decrease of approximately 39.4%[17] - Total liabilities as of Q1 2024 amounted to CNY 360,581,093.27, a slight increase from CNY 356,809,821.32 in Q1 2023[18] - Total liabilities increased significantly to CNY 178,573,854.92 from CNY 44,861,273.91 in the previous period[28] Cash Flow - The net cash flow from operating activities was CNY -30,555,823.46, not applicable for comparison[3] - The company maintained a stable cash flow from operating activities, indicating strong operational efficiency despite revenue decline[23] - The net cash flow from operating activities was -CNY 30,555,823.46, worsening from -CNY 24,393,931.78 in the previous year[25] - The company generated a net cash flow from operating activities of CNY 132,621,113.29, up from CNY 111,010,426.29 in Q1 2023, reflecting improved cash generation capabilities[34] - The company's cash and cash equivalents at the end of Q1 2024 were CNY 108,932,084.32, a decrease from CNY 232,643,118.53 at the beginning of the quarter[25] - The cash inflow from investment activities was CNY 91,928,261.68, significantly higher than CNY 31,512,544.14 in the previous year[25] - The company experienced a negative impact of CNY 123,711,034.21 in net cash increase during the quarter, compared to -CNY 214,701,877.69 in the same quarter last year[25] Investments and Fair Value - Government subsidies recognized in the current period amounted to CNY 259,679.57[5] - The fair value changes of financial assets and liabilities resulted in a gain of CNY 2,196,054.95[5] - The company confirmed a cumulative fair value loss of CNY 50 million related to an investment in the "Innovation No. 1 Fund" as of the report date[14] - The company reported a fair value change gain of CNY 1,850,580.00 in Q1 2024, compared to CNY 202,280.00 in Q1 2023, highlighting positive market conditions[31] Management and Operational Efficiency - The company reported a financial expense of CNY -2,246,514.77 in Q1 2024, a significant improvement from CNY 367,168.47 in Q1 2023[20] - The company's management expenses for Q1 2024 were CNY 2,439,745.95, compared to CNY 2,241,511.98 in Q1 2023, reflecting a rise of approximately 9%[30] - Operating profit for Q1 2024 was CNY 2,761,859.65, compared to CNY 35,861.82 in the same period last year, indicating strong operational efficiency[31] - The company's actual controller, the Chongqing State-owned Assets Supervision and Administration Commission, plans to transfer 80% of its stake in the controlling shareholder, Chongqing Light Textile Group, to Chongqing Yufu Holding Group without compensation[10] - The company has received approval from the State Administration for Market Regulation regarding the acquisition of shares by Chongqing Yufu Holding Group, allowing the transaction to proceed without further antitrust review[10]