Headman(SH:688577)2024-04-29 09:51Financial Performance - The company's operating revenue for Q1 2024 was CNY 165,260,319.44, representing a year-on-year increase of 9.67%[5] - The net profit attributable to shareholders decreased by 70.13% to CNY 2,815,271.81 compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 75.85% to CNY 2,093,917.06[5] - The basic earnings per share (EPS) was CNY 0.05, down 70.59% year-on-year[6] - The significant decline in net profit was attributed to lower gross margins from sales of certain flow meter models during the reporting period[9] - Net profit for Q1 2024 was CNY 2.82 million, a decrease of 68.1% from CNY 8.84 million in Q1 2023[19] - Basic and diluted earnings per share for Q1 2024 were CNY 0.05, down from CNY 0.17 in Q1 2023[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,491,591,185.65, an increase of 2.73% from the end of the previous year[6] - Total assets as of Q1 2024 were CNY 1.49 billion, compared to CNY 1.45 billion at the end of Q1 2023, reflecting a growth of 2.4%[17] - The total liabilities increased to CNY 605.03 million in Q1 2024 from CNY 568.62 million in Q1 2023, marking a rise of 6.4%[17] - The company’s total assets increased to CNY 1,411,631,556.08 as of March 31, 2024, compared to CNY 1,369,592,242.86 at the end of 2023[25] - The total liabilities rose to CNY 542,951,822.98, up from CNY 505,984,036.47 at the end of 2023, indicating a growing leverage position[25] Cash Flow - The net cash flow from operating activities was CNY 11,525,301.45, with no year-on-year comparison available[5] - In Q1 2024, the company reported operating cash inflows of CNY 111,357,368.65, an increase of 8.7% compared to CNY 102,544,450.24 in Q1 2023[22] - The net cash flow from operating activities for Q1 2024 was CNY 8,759,665.05, a significant improvement compared to a negative cash flow of CNY -11,853,830.89 in Q1 2023[29] - The company’s net cash flow from financing activities was CNY 487,061.15, a decrease from CNY 15,350,354.23 in Q1 2023[23] Research and Development - Research and development (R&D) expenses totaled CNY 10,995,998.37, accounting for 6.65% of operating revenue, a decrease of 0.74 percentage points[6] - Research and development expenses for Q1 2024 were CNY 11.00 million, slightly down from CNY 11.14 million in Q1 2023[19] - The company incurred R&D expenses of CNY 8,150,026.67 in Q1 2024, down from CNY 9,639,594.89 in Q1 2023, reflecting a decrease of approximately 15.4%[26] Inventory and Receivables - Accounts receivable increased to 114,000,773.13 RMB from 117,279,729.34 RMB, indicating a slight decrease in collection efficiency[15] - Inventory levels rose to 401,574,703.90 RMB, up from 369,841,177.53 RMB, reflecting a 8.55% increase[15] - The company’s inventory increased to CNY 364,188,071.83 from CNY 335,389,657.97, reflecting a 8.6% rise year-over-year[24] Shareholder Information - The company plans to issue 3,145,898 shares at a price of 54.49 RMB per share, raising a total of 171,419,982.02 RMB[13] - The company’s major shareholders include Gao Changquan and Guo Xiuhua, holding significant stakes of 35.03% and 37.31% respectively[13] - The company is in the process of a simplified stock issuance to specific investors, pending regulatory approval[14] - The company’s total liabilities and equity structure will be updated following the completion of the stock issuance[14]