Hotgen(SH:688068)2024-04-29 10:04Financial Performance - The company's operating revenue for Q1 2024 was ¥116,124,860.44, representing a decrease of 42.78% compared to the same period last year[5] - The net profit attributable to shareholders was ¥5,054,819.80, down 91.42% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥33,946,415.33, a decline of 167.83%[5] - Basic earnings per share were ¥0.06, down 90.91% year-on-year[6] - Operating profit for Q1 2024 was ¥5,445,201.51, down from ¥68,617,202.23 in Q1 2023, reflecting a significant decline[18] - The company reported a total comprehensive income of ¥3,530,809.12 for Q1 2024, significantly lower than ¥56,095,829.44 in Q1 2023[19] - The company experienced a significant reduction in research and development expenses, which were ¥22,667,361.22 in Q1 2024 compared to ¥33,864,932.96 in Q1 2023, indicating a strategic shift[17] Cash Flow and Assets - The net cash flow from operating activities was -¥14,007,005.61, reflecting a decrease of 94.23% compared to the previous year[5] - Cash flow from operating activities for Q1 2024 was negative at -¥14,007,005.61, an improvement from -¥242,784,347.60 in Q1 2023[22] - Cash inflow from investment activities for Q1 2024 was ¥190,685,063.58, compared to ¥607,831,021.95 in Q1 2023[22] - Cash outflow from investment activities for Q1 2024 was ¥127,419,498.65, down from ¥561,508,312.58 in Q1 2023[22] - The net cash flow from financing activities was -$86,960,469.79, compared to -$6,483,618.22 in the previous year, indicating a significant increase in cash outflow[23] - The net increase in cash and cash equivalents for the quarter was -$37,780,115.99, compared to -$204,230,354.41 in the same quarter last year, showing an improvement in cash management[23] - The ending balance of cash and cash equivalents was $234,606,511.59, down from $318,984,364.49 year-over-year[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,485,480,510.90, a decrease of 2.11% from the end of the previous year[6] - As of March 31, 2024, total assets amounted to CNY 3,485,480,510.90, a decrease from CNY 3,560,592,952.10 as of December 31, 2023, reflecting a decline of approximately 2.1%[14] - Current assets totaled CNY 1,090,874,769.22, an increase from CNY 828,236,988.59, representing a growth of approximately 31.7%[15] - Total liabilities amounted to CNY 205,340,125.40, a slight increase from CNY 202,561,988.73, reflecting a growth of approximately 1.4%[16] - The company's equity remained stable with total equity at CNY 3,280,140,385.50 as of March 31, 2024[16] Market and Product Development - The company experienced a significant reduction in unconventional COVID-19 business, which accounted for approximately 50% of revenue in the previous year[8] - The company reported a rapid growth of over 27% in its core hepatitis and liver cancer diagnostic reagents[8] - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the report[13] Accounting and Reporting Changes - The company has adopted new accounting standards starting in 2024, which may impact financial reporting[23]