SCMC(SH:600984)2024-04-29 09:49Financial Performance - The company's operating revenue for Q1 2024 was ¥507,918,735.17, representing a decrease of 21.68% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥238,508,551.70, a decline of 78.82% year-on-year[3]. - The basic earnings per share (EPS) was -¥0.1897, reflecting a decrease of 78.78% compared to the previous year[3]. - The company experienced a significant reduction in sales revenue, which was the primary reason for the decline in net profit and cash flow[5]. - Net loss for Q1 2024 was ¥238.51 million, compared to a net loss of ¥133.41 million in Q1 2023, representing an increase in loss of 78.7%[22]. - Operating profit for Q1 2024 was -¥274.71 million, worsening from -¥153.76 million in Q1 2023[22]. Cash Flow - The net cash flow from operating activities was -¥3,992,479.22, a significant decline of 105.05% year-on-year[3]. - The company reported a cash flow from operating activities of -¥150.18 million in Q1 2024, compared to a positive cash flow in the same period last year[23]. - In Q1 2024, the net cash flow from operating activities was -$3.99 million, a significant decrease compared to $78.99 million in Q1 2023, reflecting a decline of approximately 105.06%[24]. - Total cash inflow from operating activities in Q1 2024 was $751.13 million, down 17.2% from $907.45 million in Q1 2023[24]. - Cash outflow from operating activities increased to $755.13 million in Q1 2024, compared to $828.46 million in Q1 2023, indicating a decrease of about 8.83%[24]. - Cash flow from investing activities showed a net outflow of -$143.22 million in Q1 2024, an improvement from -$256.40 million in Q1 2023[25]. - The net cash flow from financing activities was $856.45 million in Q1 2024, a turnaround from -$141.92 million in Q1 2023[25]. Assets and Liabilities - Total assets at the end of the reporting period were ¥17,993,158,519.20, an increase of 2.39% from the end of the previous year[3]. - Total liabilities as of Q1 2024 amounted to ¥12.97 billion, an increase from ¥12.31 billion in the previous year[21]. - Current liabilities totaled ¥7.90 billion in Q1 2024, up from ¥7.22 billion in Q1 2023, indicating a 9.3% increase[21]. - Non-current liabilities decreased slightly to ¥5.07 billion in Q1 2024 from ¥5.09 billion in Q1 2023[21]. - The company's total equity attributable to shareholders was ¥5.03 billion in Q1 2024, down from ¥5.26 billion in Q1 2023, reflecting a decrease of 4.5%[21]. Financing Activities - The company plans to issue medium-term notes not exceeding CNY 1 billion to broaden financing channels[13]. - The company will convert CNY 55 million of debt into equity to enhance the capital structure of its subsidiary[14]. - Cash inflow from financing activities surged to $2.29 billion in Q1 2024, compared to $487.38 million in Q1 2023, marking an increase of approximately 369.5%[25]. - The company received $1.92 billion in borrowings in Q1 2024, a substantial increase from $481.62 million in Q1 2023, indicating a growth of approximately 299.5%[25]. - The cash received from other financing activities was $370.75 million in Q1 2024, compared to $5.76 million in Q1 2023, showing a significant increase of approximately 6,329.4%[25]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 48,537, with the largest shareholder holding 29.58% of the shares[6]. - The equity attributable to shareholders decreased by 4.51% to ¥5,025,379,078.11 compared to the end of the previous year[3]. - The company reported a weighted average return on equity of -4.64%, a decrease of 2.40 percentage points year-on-year[3]. Other Income and Expenses - Tax and additional fees increased by 41.82% to CNY 4,299,303.92 compared to the previous period[10]. - Interest income decreased by 34.51% to CNY 1,918,189.08 due to reduced bank deposit interest[10]. - Other income fell by 74.71% to CNY 854,365.57 primarily due to decreased government subsidies[10]. - Non-recurring gains and losses amounted to ¥3,900,565.40, with significant contributions from government subsidies and asset impairment reversals[4].