AISINO CO.LTD.(SH:600271)2024-04-29 09:51Financial Performance - The company's operating revenue for Q1 2024 was RMB 151,792.66 million, a decrease of 56.70% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was RMB -29,787.39 million, representing a decline of 221.24% year-on-year[4]. - The basic earnings per share for the period was RMB -0.16, down 223.08% from the previous year[4]. - The company reported a significant drop in net profit due to the seasonal nature of its traditional verification business[6]. - Total operating revenue for Q1 2024 was ¥1,517,926,558.89, a decrease of 56.7% compared to ¥3,505,923,338.82 in Q1 2023[16]. - Net profit for Q1 2024 was a loss of ¥448,564,954.21, compared to a profit of ¥362,789,354.72 in Q1 2023[17]. - The operating profit for Q1 2024 was a loss of ¥440,458,356.14, contrasting with a profit of ¥500,149,340.62 in Q1 2023[16]. - Basic earnings per share for Q1 2024 were -¥0.16, compared to ¥0.13 in Q1 2023[17]. Cash Flow and Assets - The net cash flow from operating activities was RMB -124,061.11 million, indicating significant cash outflow[4]. - The company's total current assets as of March 31, 2024, amounted to RMB 13,982,404,208.39, a decrease from RMB 14,875,879,405.28 as of December 31, 2023, reflecting a decline of approximately 6%[12]. - The cash and cash equivalents decreased to RMB 6,260,242,191.96 from RMB 7,545,895,440.17, representing a decline of about 16.9%[12]. - The company's cash and cash equivalents at the end of Q1 2024 stood at ¥6,097,722,643.32, slightly down from ¥6,105,845,548.31 at the end of Q1 2023[19]. - The total cash outflow for the period was ¥1,249,074,892.51, compared to ¥1,070,301,964.71 in the same quarter last year, reflecting a year-over-year increase of 16.7%[19]. - The net cash outflow from operating activities was ¥1,240,611,145.20, compared to a net outflow of ¥1,165,445,104.92 in the same period last year[18]. Liabilities and Equity - The total liabilities decreased to RMB 10,195,905,000.00 from RMB 10,500,000,000.00, reflecting a decline of approximately 2.9%[14]. - The total liabilities as of Q1 2024 were ¥4,817,276,546.61, down from ¥5,245,558,912.97 in the previous year[15]. - Total equity for Q1 2024 was ¥16,992,896,749.33, a decrease from ¥17,445,202,928.64 in Q1 2023[15]. Operational Insights - The decline in revenue was attributed to a downturn in traditional anti-counterfeiting tax control business and a longer implementation cycle for smart and internet trust projects[6]. - The company reported an operating expense and estimated liabilities of RMB 17,930,500.00 for the first quarter of 2024, down from RMB 17,930,500.00 in the previous year[11]. - Research and development expenses for Q1 2024 were ¥238,799,139.71, a decrease of 10.3% from ¥266,044,381.50 in Q1 2023[16]. Compliance and Rectification - The company has completed its rectification work regarding historical trade business accounting irregularities, which involved revenue from 2017 to 2020, accounting for 3.32%, 6.80%, 3.91%, and 2.48% of the respective annual revenues[10]. - The company has strengthened its internal reporting mechanisms for significant matters to ensure compliance with regulatory requirements[11]. - The company has submitted a rectification report to the Beijing Securities Regulatory Bureau, confirming that the rectification will not significantly impact its financial condition or operating results[10]. Shareholder Information - The top shareholder, China Aerospace Science and Industry Corporation, holds 40.02% of the shares, indicating strong state ownership[7].