航天机电(600151) - 2024 Q1 - 季度财报

Financial Performance - The diluted earnings per share for the first quarter of 2024 is -0.0333 RMB, reflecting a significant decline in profitability [4] - The company's operating revenue decreased by 39.46% due to oversupply in the photovoltaic market and significant price declines in the industry [17] - Total revenue for Q1 2024 was CNY 1,393,094,855.85, representing a decline of 39.46% year-over-year [39] - The net profit attributable to shareholders for Q1 2024 was -CNY 47,717,202.26, with a basic earnings per share of -CNY 0.0333 [39] - The net loss for Q1 2024 was -56,183,306.41, compared to a net loss of -23,690,652.91 in Q1 2023, indicating a significant increase in losses [48] - The net profit attributable to shareholders was -47,717,202.26 in Q1 2024, compared to -23,437,616.18 in Q1 2023, reflecting a worsening financial performance [48] - Operating profit for Q1 2024 was a loss of approximately $49.67 million, compared to a loss of $19.66 million in Q1 2023 [59] - The company reported a total profit loss of approximately $48.29 million in Q1 2024, worsening from a loss of $19.37 million in Q1 2023 [59] Assets and Liabilities - The total assets as of March 31, 2024, amount to 10,715,668,772.73 RMB, a decrease of 1.78% compared to the end of the previous year [4] - The total current assets decreased to 5,434,414,788.41 RMB, down from 5,497,973,916.58 RMB, indicating a reduction of 1.15% [9] - Total liabilities decreased to 5,383,944,521.88 from 5,546,849,501.68 year-over-year, showing a reduction in overall debt [46] - Total equity decreased to 5,331,724,250.85 from 5,362,519,898.67 year-over-year, indicating a decline in shareholder value [46] - The company's total assets decreased to 10,715,668,772.73 from 10,909,369,400.35 year-over-year, reflecting a contraction in asset base [57] - Long-term borrowings decreased slightly to 811,752,279.87 from 818,214,017.19 year-over-year, indicating stable long-term financing [46] - The company reported a decrease in total non-current liabilities to 1,379,786,888.79 from 1,408,900,564.85 year-over-year, indicating a reduction in long-term obligations [46] Cash Flow and Investments - The cash and cash equivalents as of March 31, 2024, are 1,366,647,202.41 RMB, down from 1,877,448,947.93 RMB, representing a decline of 27.14% [9] - The company's operating cash inflow for Q1 2024 was CNY 1,457,910,322.92, a decrease of 25.6% compared to CNY 1,960,433,164.44 in Q1 2023 [25] - The net cash flow from operating activities was -CNY 408,095,772.06, slightly improved from -CNY 420,845,441.29 in the same period last year [25] - Cash outflow from investing activities was CNY 40,153,981.48, down from CNY 62,579,824.74 in Q1 2023 [35] - The company raised CNY 288,849,443.28 from financing activities, compared to CNY 434,288,904.82 in the previous year [35] - The company reported a net cash outflow of CNY 502,869,730.55 for the quarter, compared to -CNY 465,219,843.27 in the same period last year [35] Shareholder Information - The top shareholder, Shanghai Aerospace Technology Research Institute, holds 26.45% of the shares, totaling 379,350,534 shares [28] - The company did not report any changes in the top ten shareholders compared to the previous period [29] Operational Efficiency and Market Strategy - The company is focusing on improving its operational efficiency and exploring new market opportunities to counteract the declining revenue trend [17] Other Financial Metrics - The weighted average return on equity is -0.9683%, indicating a challenging financial environment for the company [4] - Other comprehensive income after tax for Q1 2024 was 24,713,576.14, compared to -5,020,372.40 in Q1 2023, showing an improvement in this area [48] - Research and development expenses for Q1 2024 were approximately $55.49 million, slightly down from $56.44 million in Q1 2023 [59] - Financial expenses increased to approximately $2.76 million in Q1 2024, compared to $1.01 million in Q1 2023 [59] - Investment income for Q1 2024 was approximately $6.50 million, down from $11.30 million in Q1 2023 [59] - The company experienced a credit impairment loss of approximately $6.53 million in Q1 2024, compared to a gain of $4.15 million in Q1 2023 [59] - Other income for Q1 2024 was approximately $1.93 million, an increase from $1.48 million in Q1 2023 [59] - Tax expenses decreased to approximately $2.53 million in Q1 2024 from $5.37 million in Q1 2023 [59]