XSS(SH:600117)2024-04-29 10:07Financial Performance - In Q1 2024, the company reported a net loss of RMB 6,975,410.99 due to non-recurring losses, including a loss from debt restructuring of RMB 330,924.11 and other operating expenses of RMB 3,117,334.27[6] - The company's net profit for Q1 2024 decreased by 34.58% compared to the previous year, attributed to reduced financial expenses and losses[24] - The company reported a net loss of approximately ¥245.16 million, compared to a net loss of ¥374.77 million in the previous period, representing a 34.5% improvement in net loss year-over-year[34] - The total operating profit (loss) was approximately -¥245.21 million, an improvement from -¥373.15 million in the prior period, indicating a 34.3% reduction in operating losses[34] - Net profit attributable to shareholders for Q1 2024 was -¥191,214,844.93, compared to -¥246,645,309.49 in the same period last year[48] Assets and Liabilities - As of March 31, 2024, total current assets amounted to RMB 2,743,608,133.44, a decrease from RMB 3,289,389,591.06 at the end of 2023[12] - The company's total equity decreased to RMB 7,444,729,755.62 from RMB 7,686,709,412.40, a decline of about 3.1%[14] - The company reported a total asset value of RMB 13,370,348,120.58, down from RMB 13,993,269,342.10, indicating a decrease of approximately 4.5%[14] - Total liabilities decreased to RMB 5,925,618,364.96 from RMB 6,306,559,929.70, showing a reduction of approximately 6.0%[14] - The total liabilities decreased from approximately ¥6.31 billion to ¥5.93 billion, a reduction of about 6%[39] - The company's total equity attributable to shareholders decreased from approximately ¥5.37 billion to ¥5.18 billion, a decline of about 3.5%[39] Cash Flow - The net cash flow from operating activities for Q1 2024 was -401,501,965.73 RMB, a significant decrease compared to 53,667,593.41 RMB in Q1 2023, reflecting a cash outflow primarily due to payment for goods[24] - Total cash inflow from operating activities in Q1 2024 was 389,247,752.40 RMB, down 35.9% from 607,336,519.29 RMB in the same period last year[24] - Cash outflow for purchasing goods and services increased to 513,379,589.47 RMB in Q1 2024, compared to 411,462,423.74 RMB in Q1 2023, indicating a rise of 24.8%[24] - The company reported a net cash flow from operating activities of -¥401,501,965.73, indicating a significant cash outflow[48] - The company had a net cash outflow from investing activities of approximately ¥17.89 million, compared to ¥13.71 million in the previous period, indicating an increase in investment expenditures[37] Operational Efficiency and Strategy - The company is focusing on enhancing its operational efficiency and exploring new market opportunities to drive future growth[11] - The company plans to invest in new product development and technology advancements to strengthen its market position[11] - The company plans to continue focusing on the 65MW subcritical energy-saving and carbon-reducing green power generation project, which has seen increased investment[24] - The company did not report any significant new product developments or market expansion strategies during this quarter[41] Research and Development - Research and development expenses saw a significant decline of 98.09% year-on-year, indicating reduced investment in R&D activities[24] - Research and development expenses significantly decreased to ¥1,879,134.11 from ¥98,535,617.32, indicating a reduction of approximately 98%[48] Earnings Per Share - The basic and diluted earnings per share were both -¥0.06, compared to -¥0.24 in the previous period, reflecting a 75% improvement in earnings per share[34] - The company had a basic earnings per share of -¥0.06 for Q1 2024, compared to -¥0.24 in the same period last year[48] Inventory and Receivables - Accounts receivable increased to RMB 306,412,083.92 from RMB 230,488,506.28, indicating a growth of approximately 32.9%[10] - Inventory levels slightly decreased to RMB 1,344,528,115.56 from RMB 1,379,201,604.67, reflecting a reduction of about 2.5%[10]