SEWPG(SH:688660)2024-04-29 09:37Financial Performance - The company's operating revenue for Q1 2024 was ¥469,451,755.69, representing a decrease of 66.13% compared to the same period last year[2]. - The net profit attributable to shareholders was a loss of ¥211,942,690.09, with basic and diluted earnings per share both at -¥0.16[2]. - The company experienced a significant decline in revenue due to delays in the execution of certain sales orders[5]. - Total operating revenue for Q1 2024 was ¥469,451,755.69, a decrease of 66.1% compared to ¥1,386,027,011.76 in Q1 2023[18]. - Net loss for Q1 2024 was ¥212,062,060.59, compared to a net loss of ¥166,609,414.56 in Q1 2023, representing a 27.2% increase in losses[19]. - The company reported a total comprehensive loss of ¥209,092,730.92 for Q1 2024, compared to a loss of ¥166,537,399.28 in Q1 2023[19]. - Net loss for Q1 2024 was ¥176,195,382.47, compared to a net loss of ¥165,768,650.33 in Q1 2023, reflecting a deterioration in performance[29]. - The company incurred financial expenses of ¥20,886,636.17 in Q1 2024, significantly higher than ¥1,780,578.55 in Q1 2023[28]. Assets and Liabilities - The total assets at the end of the reporting period were ¥25,193,158,849.79, a decrease of 2.57% from the end of the previous year[2]. - The company's total liabilities amounted to ¥19,528,008,477.94, a decrease of 2.3% from ¥19,983,031,590.15 in the previous period[18]. - The total liabilities decreased to CNY 14,869,087,155.49 from CNY 15,409,289,706.16, showing a reduction of approximately 3.5%[14]. - The company's total liabilities decreased to 21,299,161,585.86 RMB from 22,139,386,752.13 RMB, indicating improved liability management[25]. - The company's total current assets amounted to CNY 14,053,543,354.04, a decrease from CNY 14,870,483,096.27 as of December 31, 2023[13]. - The company's total equity attributable to shareholders decreased by 3.57% to ¥5,656,039,249.99 compared to the end of the previous year[2]. - The company reported a total equity of ¥5,235,804,440.70 as of Q1 2024, a decrease from ¥5,414,363,492.41 in Q1 2023[26]. Cash Flow - The net cash flow from operating activities was -¥1,790,418,281.05, indicating a significant decrease in cash inflow compared to the previous year[2]. - In Q1 2024, the company reported a net cash flow from operating activities of -1,790,418,281.05 RMB, compared to -1,204,356,616.99 RMB in Q1 2023, indicating a decline in operational cash flow[21]. - Cash and cash equivalents at the end of Q1 2024 were ¥1,223,148,927.30, down from ¥2,917,426,407.24 at the end of Q1 2023[31]. - The company's cash and cash equivalents were reported at CNY 1,712,053,264.93, down from CNY 2,210,713,942.41 at the end of the previous year[13]. - Total cash inflow from financing activities was 1,863,069,701.04 RMB, significantly higher than 401,403,567.93 RMB in the same period last year, reflecting increased financing efforts[22]. Research and Development - Research and development expenses totaled ¥85,737,969.71, down 40.81% year-on-year, but the R&D expenditure as a percentage of operating revenue increased by 7.81 percentage points to 18.26%[2]. - Research and development expenses for Q1 2024 were ¥85,737,969.71, a decrease of 40.8% from ¥144,846,425.89 in Q1 2023[18]. - Research and development expenses in Q1 2024 were ¥83,813,128.66, down 39.9% from ¥139,302,764.70 in Q1 2023[28]. - The company has not reported any new product launches or technological advancements during this period[12]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 29,860, with the largest shareholder, Shanghai Electric Group, holding 60.40% of the shares[7]. - There were changes in major shareholders, with new entries including Wang Li and Huaxia Bank, while China Bank and Jiang Min exited[11]. - The company has not disclosed any plans for market expansion or mergers and acquisitions in the current reporting period[12]. Inventory and Receivables - Accounts receivable increased to CNY 4,251,236,452.25 from CNY 3,919,188,240.22, indicating a growth of approximately 8.5%[13]. - Inventory levels rose to CNY 2,202,001,968.33, compared to CNY 1,668,983,692.46, reflecting a significant increase of about 32%[14]. - The accounts receivable rose to 5,665,400,651.47 RMB from 5,238,375,382.61 RMB, suggesting an increase in credit sales or delayed collections[24]. - The company’s inventory increased to 1,127,400,640.59 RMB from 994,342,802.53 RMB, indicating a rise in stock levels[24].