Menovo(SH:603538)2024-04-29 09:55Financial Performance - The company's operating revenue for Q1 2024 was ¥262,766,361.43, representing a year-on-year increase of 6.68%[3] - The net profit attributable to shareholders decreased by 67.68% to ¥14,043,259.71 compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 72.63% to ¥20,527,312.45[3] - The basic earnings per share decreased by 66.67% to ¥0.07, while diluted earnings per share decreased by 65.00% to ¥0.07[3] - Operating profit for Q1 2024 decreased to RMB 21,690,375.36, down 61.3% from RMB 56,064,797.51 in Q1 2023[21] - In Q1 2024, the company reported a net profit of ¥15,770,884.38, a decrease of 65.9% compared to ¥46,218,606.15 in Q1 2023[22] - The total comprehensive income for Q1 2024 was ¥15,789,457.91, compared to ¥45,470,205.48 in the same quarter last year, a decrease of 65.3%[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,344,246,476.68, a decrease of 1.79% from the end of the previous year[3] - Total assets as of March 31, 2024, were RMB 4,344,246,476.68, a slight decrease from RMB 4,423,515,920.66 as of December 31, 2023[18] - Total liabilities decreased to RMB 2,142,290,717.71 as of March 31, 2024, from RMB 2,237,831,964.82 as of December 31, 2023, a reduction of 4.3%[19] - The company’s total liabilities increased, with cash outflows for debt repayment amounting to ¥181,966,366.36, compared to ¥107,526,000.00 in the previous year[26] Cash Flow - The net cash flow from operating activities was negative at -¥54,422,979.34, primarily due to increased payments for goods[3] - The net cash flow from operating activities was -¥54,422,979.34, worsening from -¥16,639,241.51 in Q1 2023[25] - Cash and cash equivalents as of March 31, 2024, were RMB 351,891,745.57, down from RMB 456,042,013.93 as of December 31, 2023, a decrease of 22.8%[18] - Cash and cash equivalents at the end of Q1 2024 were ¥231,088,104.66, down from ¥468,943,485.90 at the end of Q1 2023[26] - Investment activities resulted in a net cash outflow of -¥25,327,096.38, an improvement from -¥101,092,484.23 in Q1 2023[26] - The company reported cash inflows from financing activities of ¥218,932,991.66, an increase from ¥138,468,439.40 in Q1 2023[26] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 30,742[8] - The largest shareholder, Ningbo Meinuohua Holding Group Co., Ltd., held 21.22% of the shares, totaling 45,273,661 shares[9] - As of March 31, 2024, Ningbo Meinuo Holdings Group Co., Ltd. holds 45,273,661 shares, representing 21.22% of total shares[10] - The top 10 shareholders include Ningbo Meinuo Holdings Group Co., Ltd. and several individual shareholders, with the largest individual shareholder holding 12,070,253 shares[10] Research and Development - Research and development expenses increased by 36.67%, indicating an increase in formulation R&D projects[7] - Research and development expenses increased to RMB 15,827,004.16 in Q1 2024, compared to RMB 11,580,047.95 in Q1 2023, representing a rise of 36.5%[21] Investment and Foreign Exchange - The company reported a significant decrease in investment income by 150.21%, mainly due to losses from foreign exchange derivatives trading[7] - The company reported a loss of -2,355.76 million USD from foreign exchange derivatives, with a fair value change of 736.63 million USD during the reporting period[13] - The nominal amount of USD forward foreign exchange contracts is 4,210 million USD, with an average exchange rate of 6.8266 for the contracts[15] - The company engaged in foreign exchange hedging to mitigate risks associated with currency fluctuations, enhancing financial stability[13] Miscellaneous - The report indicates no significant changes in accounting policies or practices compared to the previous reporting period[13] - The company has not reported any ongoing litigation as of the latest quarter[14] - The total amount of shares lent through the securities lending program is 12,000 shares[12] - The company’s cash flow hedging tools include selling USD forward contracts with varying maturities[15] - The report does not include any audit opinion type, indicating it is not applicable for this quarter[16]