OKE(SH:688308)2024-04-29 09:28Financial Performance - The company's operating revenue for Q1 2024 was ¥263,887,915.53, representing a decrease of 7.03% compared to the same period last year[2]. - The net profit attributable to shareholders decreased by 49.66% to ¥29,849,198.35, primarily due to underutilized production capacity and increased unit costs[6]. - Basic and diluted earnings per share both fell by 50.00% to ¥0.19[2]. - The net profit excluding non-recurring gains and losses dropped by 72.43% to ¥13,371,772.04[2]. - The net profit for Q1 2024 was CNY 29,849,198.35, a decrease of 49.7% compared to CNY 59,295,431.26 in Q1 2023[17]. - The total profit for Q1 2024 was CNY 37,097,986.66, a decrease of 46.1% from CNY 68,928,481.77 in Q1 2023[16]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥133,267,054.46, a decline of 128.50% year-on-year, mainly due to increased payments for raw materials[6]. - The company reported a net cash outflow from operating activities of CNY -133,267,054.46, compared to CNY -58,321,503.23 in the previous year[20]. - Cash and cash equivalents decreased to RMB 419,939,682.52 from RMB 574,751,675.64, a decline of 26.9%[11]. - Cash and cash equivalents at the end of Q1 2024 were CNY 313,644,822.94, down from CNY 450,578,664.32 at the end of Q1 2023[21]. - The company generated CNY 134,390,498.21 in cash from sales in Q1 2024, an increase of 43% from CNY 94,077,084.09 in Q1 2023[20]. - Investment activities resulted in a net cash outflow of CNY -191,923,992.33, compared to CNY -127,522,691.60 in the same period last year[21]. - The company raised CNY 340,000,000.00 through borrowings in Q1 2024, up from CNY 200,000,000.00 in Q1 2023[21]. Expenses and Costs - Total operating costs increased to CNY 240,256,779.23 in Q1 2024 from CNY 219,124,826.64 in Q1 2023, representing a rise of 9.5%[16]. - Research and development expenses totaled ¥18,206,523.68, an increase of 61.47%, accounting for 6.90% of operating revenue, up by 2.93 percentage points[3][6]. - Research and development expenses rose significantly to CNY 18,206,523.68, up from CNY 11,275,382.51, marking an increase of 61.5%[16]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,982,948,433.98, reflecting a 2.65% increase from the end of the previous year[3]. - Current assets as of March 31, 2024, totaled RMB 2,358,212,382.31, an increase from RMB 2,301,720,515.76 as of December 31, 2023, representing a growth of 2.5%[11]. - Non-current assets totaled RMB 1,624,736,051.67, an increase from RMB 1,578,514,341.07, showing a growth of 2.9%[12]. - Total liabilities as of March 31, 2024, were RMB 1,396,942,020.16, up from RMB 1,316,844,175.40, indicating an increase of 6.1%[13]. - Short-term borrowings rose to RMB 755,998,956.61 from RMB 665,033,454.11, an increase of 13.6%[12]. - The company reported a decrease in accounts payable from RMB 212,067,022.30 to RMB 161,173,856.22, a reduction of 24%[12]. - The retained earnings increased to RMB 681,141,082.21 from RMB 651,291,883.86, reflecting a growth of 4.6%[13]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,914[8]. - The weighted average return on equity decreased by 1.21 percentage points to 1.16%[2]. - The company reported non-recurring gains of ¥16,477,426.31, primarily from government subsidies and other non-operating income[6].