2024-04-29 10:28Financial Performance - Total revenue for Q1 2024 was CNY 20,586,986 thousand, a decrease of 3.30% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 32,009 thousand, down 91.27% year-on-year[4] - Basic earnings per share decreased by 91.06% to CNY 0.0021 per share[5] - The company reported a significant decline in net profit due to fluctuations in the fair value of financial assets held[8] - Net profit for Q1 2024 was CNY 553,200 thousand, a decline of 20.2% from CNY 693,072 thousand in Q1 2023[19] - The total comprehensive income attributable to the parent company's owners for Q1 2024 was -101,896 thousand RMB, compared to 300,283 thousand RMB in Q1 2023[20] - Basic and diluted earnings per share for Q1 2024 were both 0.0021 RMB, down from 0.0235 RMB in Q1 2023[20] Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 278,649,841 thousand, a decrease of 1.63% from the end of the previous year[5] - As of March 31, 2024, the total assets amounted to RMB 185,955,269,000, a decrease from RMB 191,826,718,000 as of December 31, 2023, reflecting a decline of approximately 3.5%[14] - Total assets decreased to CNY 278,649,841 thousand in Q1 2024 from CNY 283,266,567 thousand in Q1 2023[17] - The total liabilities decreased to CNY 201,405,088 thousand in Q1 2024 from CNY 206,339,927 thousand in Q1 2023[17] Cash Flow - The net cash flow from operating activities was CNY -6,932,238 thousand, indicating a significant cash outflow[4] - Cash inflow from operating activities for Q1 2024 was 28,964,683 thousand RMB, an increase of 7.6% from 25,982,534 thousand RMB in Q1 2023[21] - Cash outflow from operating activities totaled 35,896,921 thousand RMB in Q1 2024, compared to 35,213,479 thousand RMB in Q1 2023, resulting in a net cash flow from operating activities of -6,932,238 thousand RMB[22] - The net increase in cash and cash equivalents for Q1 2024 was -4,679,711 thousand RMB, compared to -9,017,543 thousand RMB in Q1 2023[23] - The ending balance of cash and cash equivalents as of Q1 2024 was 33,594,008 thousand RMB, down from 34,767,565 thousand RMB at the end of Q1 2023[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 257,722[9] - The company has not reported any significant changes in the top ten shareholders or their participation in margin financing activities during the reporting period[12] Operational Metrics - Operating costs for Q1 2024 were CNY 19,994,249 thousand, down 6.0% from CNY 21,245,908 thousand in the same period last year[18] - Research and development expenses increased to CNY 1,014,255 thousand in Q1 2024, up from CNY 985,482 thousand in Q1 2023, reflecting a focus on innovation[18] - The company reported a significant increase in prepayments, which rose to RMB 10,851,559,000 from RMB 9,511,724,000, marking an increase of approximately 14.1%[14] Financial Instruments - The fair value loss on financial assets was CNY 249,000 thousand, compared to a gain of CNY 315,000 thousand in the same period last year[8] - The company pledged 1,710,000,000 shares of A-shares as collateral for the issuance of exchangeable bonds, which provides security for bondholders[11] - The company has engaged in the issuance of non-public exchangeable bonds aimed at professional investors, indicating a strategy to raise capital[11] - The total amount of financial assets held for trading was RMB 7,392,786,000, slightly down from RMB 7,492,363,000, reflecting a decrease of about 1.3%[14] Management Team - The company’s management team includes Wu Lei as the responsible person, Zhou Zhiyan as the accounting supervisor, and Li Chuan as the head of the accounting institution[20]