TBEA(SH:600089)2024-04-29 10:19Financial Performance - The company's operating revenue for Q1 2024 was RMB 2,354,269.76 million, a decrease of 11.12% compared to RMB 2,648,718.45 million in the same period last year[3]. - Net profit attributable to shareholders was RMB 199,377.03 million, down 57.89% from RMB 473,413.44 million year-on-year[3]. - Basic and diluted earnings per share were both RMB 0.3972, representing a decrease of 67.05% from RMB 1.2054 in the same period last year[3]. - Total operating revenue for Q1 2024 was CNY 23.56 billion, a decrease of 11.5% compared to CNY 26.50 billion in Q1 2023[20]. - Net profit for Q1 2024 was CNY 2.39 billion, down 64.8% from CNY 6.78 billion in Q1 2023[21]. - Operating profit for Q1 2024 was CNY 2.82 billion, a decline of 64.3% from CNY 7.90 billion in Q1 2023[21]. - The total comprehensive income for Q1 2024 was CNY 2.49 billion, a decrease of 63.0% from CNY 6.75 billion in Q1 2023[22]. Cash Flow - The net cash flow from operating activities was RMB 249,587.91 million, reflecting a decline of 61.38% compared to RMB 646,345.84 million in the previous year[3]. - In Q1 2024, the cash inflow from operating activities was CNY 24.68 billion, a decrease of 9.5% compared to CNY 27.25 billion in Q1 2023[24]. - The net cash flow from operating activities was CNY 2.50 billion, down 61.3% from CNY 6.46 billion in the same period last year[24]. - The cash flow from operating activities showed a positive trend with a net inflow for the first time in several quarters[37]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 19,925,855.41 million, an increase of 3.84% from RMB 19,189,831.62 million at the end of the previous year[3]. - The total liabilities of the company as of March 31, 2024, were RMB 65.18 billion, compared to RMB 63.37 billion at the end of 2023, reflecting an increase of about 2.8%[17]. - The total assets as of March 31, 2024, were CNY 56,593,878,036.66, an increase from CNY 55,353,579,951.25 as of December 31, 2023[29]. - The total liabilities decreased to CNY 28,886,544,077.60 as of March 31, 2024, down from CNY 29,072,811,517.83 at the end of 2023[29]. Equity - The equity attributable to shareholders increased by 5.74% to RMB 6,615,385.44 million from RMB 6,256,274.99 million at the end of the previous year[3]. - Total equity attributable to shareholders was CNY 66.15 billion, up 5.1% from CNY 62.56 billion at the end of 2023[18]. - The total equity increased to CNY 27,707,333,959.06 as of March 31, 2024, compared to CNY 26,280,768,433.42 at the end of 2023[29]. Government Subsidies and Adjustments - The company received government subsidies amounting to RMB 100,178,044.86, which significantly impacted the financial results[5]. - The company has adjusted its financial statements for the previous year due to the acquisition of Xinjiang TBEA Control Equipment Co., Ltd., which is now included in the consolidated financial statements[4]. Research and Development - Research and development expenses for Q1 2024 were CNY 367.70 million, a decrease of 30.6% from CNY 529.44 million in Q1 2023[20]. - Research and development expenses increased to CNY 21,320,995.09 in Q1 2024, up from CNY 14,337,819.41 in Q1 2023, reflecting a growth of 48.73%[32]. Inventory and Receivables - Accounts receivable increased to RMB 16.42 billion as of March 31, 2024, up from RMB 13.47 billion at the end of 2023, representing a rise of approximately 22.0%[14]. - The company's inventory reached RMB 15.82 billion as of March 31, 2024, compared to RMB 14.42 billion at the end of 2023, marking an increase of around 9.7%[15]. - The accounts receivable rose to CNY 4.68 billion, up from CNY 3.44 billion in the previous year, indicating a 36.1% increase[27]. - The inventory increased to CNY 1.93 billion, compared to CNY 1.42 billion in Q1 2023, reflecting a growth of 35.5%[27].