CISC(601005)2024-04-29 10:02Financial Performance - The company's operating revenue for Q1 2024 was CNY 7,736,437,619.53, representing a decrease of 26.11% compared to the same period last year[11] - The net profit attributable to shareholders was a loss of CNY 333,758,307.26, with a basic and diluted earnings per share of -0.04 yuan[11] - The total profit for Q1 2024 was a loss of CNY 333,666,748.53, compared to a loss of CNY 126,605,402.16 in Q1 2023, reflecting a worsening financial performance[32] - The company's net profit for Q1 2024 was a loss of CNY 333,758,307.26, compared to a loss of CNY 105,451,906.05 in Q1 2023, indicating a significant increase in losses[32] - The company reported a total comprehensive income of -336,513,563.63 RMB for Q1 2024, compared to -122,269,851.32 RMB in Q1 2023, highlighting a worsening financial position[69] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -832,893,230.43[11] - The net cash flow from operating activities was -830,861,606.15 RMB in Q1 2024, compared to -1,026,934,859.46 RMB in Q1 2023, showing an improvement in cash flow losses[72] - The company's cash and cash equivalents decreased to CNY 943,249,920.28 from CNY 1,935,398,455.91, indicating a significant reduction in liquidity[44] - Cash and cash equivalents at the end of the period stood at CNY 773,365,182.88, down from CNY 1,857,664,523.81[54] - The company experienced a net cash outflow from financing activities of ¥26,991,635.16, compared to an outflow of ¥951,477,533.76 in the previous year[60] Assets and Liabilities - Total assets at the end of the reporting period were CNY 37,233,967,502.10, a decrease of 0.33% from the end of the previous year[12] - The total assets as of March 31, 2024, were CNY 6,046,558,734.69, slightly down from CNY 6,051,987,303.55 as of December 31, 2023[44] - Total liabilities increased to ¥17,616,356,911.07 from ¥17,421,172,819.40, reflecting a rise in financial obligations[56] - Non-current liabilities increased from CNY 17,502,703,730.69 to CNY 17,708,378,832.32, an increase of about 1.17%[47] - Current liabilities rose from CNY 13,863,584,109.59 to CNY 14,349,000,589.68, reflecting an increase of approximately 3.50%[47] Shareholder Information - Shareholders' equity attributable to the parent company was CNY 19,525,588,669.78, down 1.66% from the previous year[12] - The total owner's equity decreased to ¥19,309,032,228.64 from ¥19,644,531,907.31, reflecting a decline in shareholder value[67] - The largest shareholder, Chongqing Changshou Steel Co., Ltd., holds 23.51% of the shares[14] - The total number of ordinary shareholders at the end of the reporting period was 167,041[14] Operational Metrics - Research and development expenses increased to CNY 10,130,322.07 in Q1 2024 from CNY 7,405,741.15 in Q1 2023, representing a rise of approximately 36.8%[32] - The company incurred a total operating expense of 9,257,912.81 RMB in Q1 2024, down from 10,605,606,863.02 RMB in Q1 2023, indicating a reduction in operational costs[72] - The company reported other income of CNY 1,706,263.14 in Q1 2024, compared to CNY 1,297,399.86 in Q1 2023, marking an increase of about 31.5%[32] - The company reported a net cash outflow from investing activities of CNY -182,586,351.65, compared to CNY -109,476,769.10 previously[53] Inventory and Purchases - The company's inventory increased to CNY 3,206,110,205.46 in Q1 2024 from CNY 2,621,656,663.14 in Q1 2023, showing a rise of approximately 22.3%[44] - The company paid 6,976,253,847.69 RMB for purchases of goods and services in Q1 2024, compared to 10,231,055,104.93 RMB in Q1 2023, indicating a reduction in cash outflows for purchases[72] Market and Product Development - The company has not reported any significant new product launches or market expansions during this quarter[34] - The company experienced a significant decline in sales prices of raw materials, contributing to increased losses[13]