FFEC(SH:600203)2024-04-29 10:14Financial Performance - The company's operating revenue for Q1 2024 was CNY 2,337,247,645.79, representing a year-on-year increase of 22.20%[5] - The net profit attributable to shareholders of the listed company was a loss of CNY 93,424,830.46, with a basic earnings per share of -0.16 yuan[5][6] - The net loss for Q1 2024 was CNY 94,602,212.19, compared to a net loss of CNY 73,423,916.74 in Q1 2023, reflecting ongoing financial challenges[17] - The net profit for Q1 2024 was -88,880,379.12 RMB, compared to -74,838,196.40 RMB in Q1 2023, representing a decline of approximately 18.5% year-over-year[18] - The total comprehensive income for Q1 2024 was -88,948,840.49 RMB, compared to -75,491,800.60 RMB in Q1 2023, indicating a decrease of about 17.8% year-over-year[18] - Basic and diluted earnings per share for Q1 2024 were both -0.16 RMB, compared to -0.13 RMB in Q1 2023, reflecting a worsening in earnings per share[19] Cash Flow - The net cash flow from operating activities was -CNY 445,151,086.19, indicating significant cash outflow during the quarter[5] - Cash flow from operating activities for Q1 2024 was -445,151,086.19 RMB, a significant decline from -136,083,988.63 RMB in Q1 2023[21] - Cash inflow from operating activities totaled 2,871,620,195.26 RMB in Q1 2024, down from 3,647,454,320.09 RMB in Q1 2023, representing a decrease of approximately 21.2%[20] - Cash outflow from operating activities was 3,316,771,281.45 RMB in Q1 2024, compared to 3,783,538,308.72 RMB in Q1 2023, showing a reduction of about 12.3%[20] - The ending cash and cash equivalents balance as of March 31, 2024, was 1,082,490,543.30 RMB, compared to 991,003,614.82 RMB at the end of Q1 2023, reflecting an increase of approximately 9.2%[21] - The company reported a net decrease in cash and cash equivalents of $19,681,694.97, an improvement from a decrease of $119,324,969.23 in Q1 2023[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,406,049,096.64, down 4.98% from the end of the previous year[6] - The company's total assets decreased to ¥3,964,481,513.03 as of March 31, 2024, down from ¥3,994,847,789.50 at the end of 2023[24] - Total liabilities decreased to CNY 5,356,018,894.32 as of March 31, 2024, down from CNY 5,655,493,637.94 at the end of 2023[14] - Total liabilities decreased to ¥631,618,243.51 in Q1 2024 from ¥646,342,514.57 in Q4 2023, indicating a reduction in financial obligations[24] - The company’s equity attributable to shareholders decreased to CNY 1,946,963,993.33 as of March 31, 2024, from CNY 2,040,435,807.97 at the end of 2023, reflecting the impact of losses on shareholder value[14] - The total equity decreased to ¥3,332,863,269.52 in Q1 2024 from ¥3,348,505,274.93 in Q4 2023, reflecting the impact of net losses on shareholder equity[25] Operating Costs and Expenses - The total operating costs for Q1 2024 were CNY 2,416,377,989.70, up 21.2% from CNY 1,993,966,086.38 in Q1 2023[17] - The gross profit margin decreased, with a gross profit of CNY -79,130,343.91 for Q1 2024 compared to CNY -81,313,296.35 in Q1 2023[17] - Research and development expenses increased to CNY 58,443,644.61 in Q1 2024, up from CNY 53,227,030.41 in Q1 2023, indicating a focus on innovation[17] - Research and development expenses for Q1 2024 were ¥1,965,416.11, slightly down from ¥2,044,235.41 in Q1 2023, showing a focus on maintaining R&D investment despite losses[26] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 53,343[9] - The largest shareholder, Fujian Furi Group Co., Ltd., held 15.89% of the shares, while the second-largest shareholder held 11.97%[9] Market and Product Development - The company did not report any new product developments or market expansion strategies during this quarter[11]