CYG(SH:600525)2024-04-29 09:44Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,649,392,915.75, a decrease of 7.97% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 15,443,840.71, down 2.46% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 40.64% to CNY 5,762,718.15[4] - The company reported a net loss in Q1 2024, with total expenses exceeding total revenue, indicating a challenging financial environment[27] - In Q1 2024, the company reported a net profit of ¥5,256,319.86, a decrease of 65.7% compared to ¥15,339,941.12 in Q1 2023[29] - The company recorded a total comprehensive income of -¥30,357,141.79, compared to ¥62,479,695.68 in Q1 2023, indicating a significant decline[30] - Total comprehensive loss for Q1 2024 was CNY 71,645,961.23, contrasting with a comprehensive income of CNY 20,629,780.47 in Q1 2023[42] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -148,356,970.69[4] - As of March 31, 2024, the company's cash and cash equivalents amounted to RMB 2.4505 billion, an increase from RMB 1.8268 billion at the end of December 2023[21] - Cash inflow from operating activities totaled CNY 5,113,395.23 in Q1 2024, down from CNY 8,865,169.86 in Q1 2023[43] - The company generated CNY 200,000,000.00 in cash from borrowings in Q1 2024, a significant decrease from CNY 955,000,000.00 in Q1 2023[44] - Cash and cash equivalents at the end of Q1 2024 were CNY 13,332,118.53, down from CNY 60,567,563.37 at the end of Q1 2023[44] Assets and Liabilities - Total assets increased by 5.61% to CNY 16,384,477,716.61 compared to the end of the previous year[5] - Total liabilities increased to CNY 10,605,430,007.47 as of March 31, 2024, compared to CNY 9,713,867,259.46 at the end of 2023[24] - Current liabilities rose to CNY 10,156,466,913.79, compared to CNY 8,935,217,455.48 at the end of 2023, reflecting an increase of 13.66%[24] - The total liabilities as of March 31, 2024, were ¥5,642,639,657.51, compared to ¥5,038,507,360.50 at the end of 2023, indicating an increase of 12.0%[38] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 42,940[12] - Shareholders' equity attributable to the parent company decreased by 0.22% to CNY 5,231,321,877.41[5] - The company approved a share repurchase plan with a total fund of no less than RMB 70 million and no more than RMB 100 million, having repurchased 1.09 million shares, accounting for 0.08% of the total share capital, for a total payment of RMB 5.1055 million by the end of March 2024[15] Legal Matters - The company received 133 lawsuits from small and medium investors related to securities false statements, with a total amount involved of RMB 14.4486 million[19] - The company is facing a civil lawsuit from shareholder Shenzhen Wol Investment Co., Ltd. regarding securities false statements, with a total amount of approximately RMB 56.0811 million[20] Investments and Capital Expenditures - The company invested RMB 29.95 million through its subsidiary to establish two energy storage industry funds aimed at user-side energy storage projects, with the funds established on January 26 and April 12, 2024[16] - The company exited its investment in Dolphin Big Data for a consideration of RMB 5.0024 million, completing the equity change registration on April 18, 2024[16] - The company increased its subsidiary Zhi Hui Equipment's registered capital from RMB 1.91777 million to RMB 10 million by investing RMB 8.08223 million[17] Operating Costs and Expenses - Total operating costs for Q1 2024 were CNY 1,668,428,172.64, down from CNY 1,822,089,109.70 in Q1 2023, reflecting a reduction of 8.43%[27] - Operating costs included CNY 1,036,800,777.77 in operating expenses, which decreased from CNY 1,171,495,747.26 in the previous year, a decline of 11.48%[27] - Research and development expenses for Q1 2024 were CNY 195,633,573.22, slightly down from CNY 199,327,792.11 in Q1 2023[27] - The company incurred operating expenses of CNY 55,637,685.44 in Q1 2024, a decrease from CNY 64,854,462.90 in Q1 2023[43] Other Financial Metrics - The company experienced a significant increase in interest expenses, rising to ¥63,522,341.54 from ¥49,147,414.13, marking a 29.4% increase year-over-year[29] - Investment income showed a loss of ¥4,843,949.01, a stark contrast to the gain of ¥15,462,792.99 reported in Q1 2023[29] - The company reported a significant decrease in other comprehensive income, with a tax-adjusted net amount of -¥36,381,706.45 compared to ¥47,321,966.47 in Q1 2023[30] - The company's retained earnings showed a negative balance of ¥1,643,388,052.89 as of March 31, 2024, compared to a negative balance of ¥1,606,320,734.58 at the end of 2023[39]