龙星化工(002442) - 2024 Q1 - 季度财报

Revenue and Profitability - Revenue for Q1 2024 was CNY 1,000,563,555.74, a decrease of 10.62% compared to CNY 1,119,497,520.31 in the same period last year[5] - Net profit attributable to shareholders increased by 113.52% to CNY 27,195,142.76 from CNY 12,736,621.40 year-on-year[5] - Basic earnings per share rose by 112.17% to CNY 0.0558, compared to CNY 0.0263 in the previous year[5] - The total operating revenue for the first quarter of 2024 was CNY 1,000,563,555.74, a decrease of 10.6% compared to CNY 1,119,497,520.31 in the same period last year[25] - The net profit for the first quarter of 2024 was CNY 27,195,142.76, an increase of 113.5% compared to CNY 12,736,621.40 in the previous year[26] - The total comprehensive income for Q1 2024 was ¥27,198,482.84, up from ¥12,735,378.78 in the same period last year, indicating a growth of about 113.5%[27] - Basic and diluted earnings per share for Q1 2024 were both ¥0.0558, compared to ¥0.0263 in Q1 2023, reflecting an increase of approximately 111.5%[27] Assets and Liabilities - Total assets increased by 22.37% to CNY 4,654,663,702.49 from CNY 3,803,799,227.28 at the end of the previous year[5] - The total liabilities increased to CNY 2,812,343,738.02 from CNY 2,082,145,492.86, representing a rise of 35.0%[23] - The cash and cash equivalents at the end of the first quarter were CNY 611,573,817.58, an increase of 52.1% from CNY 401,956,581.14 at the beginning of the year[22] - The company reported a significant increase in accounts receivable, totaling CNY 895,633,737.66, compared to CNY 900,390,594.22 at the beginning of the year[22] Cash Flow - Cash inflows from operating activities totaled ¥608,645,917.46 in Q1 2024, down from ¥699,365,179.79 in Q1 2023, a decrease of about 12.9%[29] - Cash outflows from operating activities were ¥741,116,819.25 in Q1 2024, compared to ¥866,548,408.90 in Q1 2023, a decrease of approximately 14.4%[29] - The net cash flow from operating activities for Q1 2024 was -¥132,470,901.79, an improvement from -¥167,183,229.11 in Q1 2023[29] - Cash flow from financing activities generated a net inflow of ¥811,691,988.66 in Q1 2024, compared to ¥157,942,035.98 in Q1 2023, indicating a significant increase[30] - The ending cash and cash equivalents balance for Q1 2024 was ¥586,837,083.52, up from ¥168,990,952.30 at the end of Q1 2023, representing a substantial increase[30] Financing Activities - Cash and cash equivalents increased by 52.15% to CNY 611,573,817.58, primarily due to funds received from fundraising activities[9][10] - Long-term borrowings rose by 71.59% to CNY 642,787,883.00, reflecting an increase in long-term debt[11] - Financial expenses increased by 77.01% to CNY 17,608,588.47, mainly due to higher interest expenses[11] - Other income surged by 316.50% to CNY 10,760,391.80, attributed to increased VAT exemptions[11] - Net cash flow from financing activities increased by 413.92% to CNY 811,691,988.66, indicating significant cash inflow from financing[11] - Cash received from borrowings increased by 35.06% compared to the same period last year, primarily due to an increase in borrowings during the period[12] - The cash flow from other financing activities increased by 5061.84% year-on-year, mainly due to funds raised during the period[12] Investment Activities - Investment activities generated a net cash outflow of CNY 375,043,948.42, a significant increase of 3410.67% compared to the previous year[11] - The company reported a cash outflow of ¥375,633,902.86 from investing activities in Q1 2024, compared to ¥11,306,290.34 in Q1 2023, indicating a significant increase in investment expenditures[29] Shareholder Information - The total number of common shareholders at the end of the reporting period was 36,371[13] - The largest shareholder, Liu Jiangshan, holds 19.95% of the shares, totaling 97,897,902 shares[14] - The company issued 7,547,539 convertible bonds at a face value of RMB 100.00 each, which began trading on March 6, 2024[17] - The company plans to use part of the raised funds for capital increase and loans to wholly-owned subsidiaries for investment projects[18] - The company has not made any downward adjustments to the conversion price of the convertible bonds as of the latest board meeting[18] Research and Development - The company’s research and development expenses for the first quarter were CNY 6,659,217.82, slightly up from CNY 6,467,685.11 in the previous year[26] Exchange Rate Impact - The impact of exchange rate changes on cash and cash equivalents increased by 368.79% compared to the same period last year, primarily due to fluctuations in the euro exchange rate[12]