Starry(SH:603520)2024-04-29 10:02Financial Performance - The company's operating revenue for Q1 2024 was CNY 642,300,553.98, representing a year-on-year increase of 13.50%[5] - The net profit attributable to shareholders for the same period was CNY 12,282,528.03, reflecting a growth of 28.37% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 9,830,979.61, which is an increase of 31.85% year-on-year[5] - The basic and diluted earnings per share were both CNY 0.04, up by 33.33% year-on-year[5] - Total operating revenue for Q1 2024 reached ¥642.30 million, a 13.5% increase from ¥565.91 million in Q1 2023[19] - Net profit for Q1 2024 was ¥12.56 million, representing a 34.5% increase compared to ¥9.33 million in Q1 2023[20] - Earnings per share for Q1 2024 were ¥0.04, up from ¥0.03 in Q1 2023[21] Cash Flow and Liquidity - The net cash flow from operating activities reached CNY 92,090,350.43, showing a significant increase of 318.83% compared to the same period last year[5] - Cash flow from operating activities in Q1 2024 was ¥448.76 million, a decrease from ¥487.45 million in Q1 2023[24] - The net cash flow from operating activities for Q1 2024 was $92,090,350.43, a significant improvement compared to a net outflow of $42,083,050.09 in Q1 2023[25] - Total cash inflow from financing activities was $548,150,000.00, while cash outflow was $533,518,408.58, resulting in a net cash flow of $14,631,591.42 for Q1 2024[26] - The company reported a total cash and cash equivalents balance of $462,366,100.72 at the end of Q1 2024, down from $672,800,197.89 at the end of Q1 2023[26] - Cash outflow for purchasing goods and services was $349,390,319.25 in Q1 2024, compared to $460,940,904.99 in Q1 2023, indicating a reduction in operational expenses[25] - The cash paid for debt repayment was $209,725,837.76 in Q1 2024, significantly lower than $515,880,317.54 in Q1 2023[26] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 5,351,668,879.89, a decrease of 2.99% from the end of the previous year[6] - The company's current liabilities totaled ¥2,695,139,766.22, down from ¥2,931,391,132.52, indicating a reduction of about 8.0%[16] - Accounts receivable increased to ¥440,537,040.40 from ¥342,223,599.03, representing a growth of approximately 28.7%[15] - Inventory decreased to ¥960,125,774.51 from ¥1,148,278,539.64, showing a decline of around 16.5%[15] - The company's total liabilities were reported at ¥3,580,475,836.87, down from ¥3,757,520,423.56, reflecting a decrease of approximately 4.7%[16] - The company's cash and cash equivalents stood at ¥522,964,070.88, down from ¥565,134,168.92, a decrease of about 7.4%[14] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 32,595[11] - The company's equity attributable to shareholders increased to CNY 1,764,619,173.92, marking a rise of 0.69% from the previous year-end[6] - The total equity attributable to shareholders reached ¥1.76 billion, an increase from ¥1.75 billion in the previous quarter[17] - The total liabilities and equity amounted to ¥5.35 billion, down from ¥5.52 billion in the previous quarter[17] Expenses and Investments - The company reported a significant increase in sales expenses by 34.90%, attributed to enhanced promotion of its formulation business[8] - Research and development expenses for Q1 2024 totaled ¥32.12 million, a decrease of 7.8% from ¥34.84 million in Q1 2023[20] - Financial expenses increased to ¥30.82 million in Q1 2024, compared to ¥20.18 million in Q1 2023[20] - Investment activities resulted in a net cash outflow of $96,581,468.55 in Q1 2024, compared to a net outflow of $72,276,230.01 in Q1 2023[25] Government Support - The company received government subsidies amounting to CNY 3,526,824.49, contributing positively to the net profit[7] Future Outlook - The company plans to continue focusing on cost management and operational efficiency to improve cash flow in future quarters[25]