岩石股份(600696) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 108,962,455.79, representing a decrease of 71.94% compared to the same period last year[6] - The net profit attributable to shareholders was a loss of CNY 19,660,817.66, a decline of 163.35% year-on-year[6] - The net cash flow from operating activities was a negative CNY 29,186,441.52, down 115.37% from the previous year[6] - Basic and diluted earnings per share were both CNY -0.06, reflecting a decrease of 163.35% compared to the same period last year[6] - Total operating revenue for Q1 2024 was ¥108,962,455.79, a decrease of 72% compared to ¥388,376,610.01 in Q1 2023[22] - Net profit for Q1 2024 was a loss of ¥14,192,248.09, compared to a profit of ¥34,484,236.79 in Q1 2023[23] - The company reported a significant decrease in cash flow from operating activities, with a net cash outflow of ¥29,186,441.52 in Q1 2024, compared to an inflow of ¥189,947,451.89 in Q1 2023[28] - Basic and diluted earnings per share for Q1 2024 were both -¥0.06, compared to ¥0.09 in Q1 2023[24] - Investment income for Q1 2024 was a loss of ¥2,968,725.31, compared to a loss of ¥1,657,606.68 in Q1 2023[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,219,481,275.17, a decrease of 2.82% from the end of the previous year[7] - The company's total assets and equity decreased, with total liabilities and equity at ¥2,219,481,275.17 in Q1 2024, down from ¥2,283,789,397.87 in Q1 2023[20] - The company's cash and cash equivalents decreased to RMB 30,456,777.44 from RMB 53,539,767.89, reflecting a decline of approximately 43%[18] - The total current liabilities as of March 31, 2024, were RMB 1,335,501,847.42, down from RMB 1,384,075,274.05[19] - The company’s total equity attributable to shareholders decreased from ¥603,350,456.86 in Q1 2023 to ¥583,689,639.20 in Q1 2024[20] Shareholder Information - The company reported a total of 27,151 common shareholders at the end of the reporting period[12] - The largest shareholder, Shanghai Guijiu Enterprise Development Co., Ltd., held 143,433,141 shares, accounting for 42.88% of the total shares[12] Sales and Market Activity - The decline in revenue and profit was primarily attributed to a decrease in liquor sales and a reduction in government subsidies[9] - The company's sales revenue in Q1 2024 decreased compared to the same period last year, primarily due to liquidity pressure caused by the redemption issues of products distributed by related party Haiyin Wealth Management[14] - Cash received from sales of goods and services was ¥42,852,140.54 in Q1 2024, a decline of 93% from ¥587,469,111.00 in Q1 2023[27] - The company incurred sales expenses of ¥42,951,002.35 in Q1 2024, a decrease of 75% from ¥169,754,557.58 in Q1 2023[22] Strategic Adjustments - The company is implementing a strategic shift from brand-driven to quality-driven, focusing on major products and optimizing personnel structure to reduce costs[15] - The company is focusing on four major areas: category focus, brand focus, market focus, and model focus, while actively retracting from other product lines[15] - The company is experiencing a gradual recovery in overall sales as it advances its strategic adjustments despite the impact of the Haiyin Wealth incident[15] - The company has reduced its marketing and market activity investments significantly due to financial pressure, which has weakened market expansion efforts[14] Cash Flow and Financing Activities - In Q1 2024, the net cash flow from financing activities was $9,168,042.47, a significant decrease from $186,196,147.67 in the previous period[29] - The total cash inflow from financing activities amounted to $196,422,000.00, compared to $221,074,000.00 in the prior year[29] - Cash outflows from financing activities totaled $187,253,957.53, up from $34,877,852.33 year-over-year[29] - The net increase in cash and cash equivalents was -$35,515,445.62, contrasting sharply with an increase of $262,216,048.40 in the previous year[29] - The ending balance of cash and cash equivalents was $8,683,547.67, down from $464,515,884.19 at the end of the previous period[29] - The company paid $184,000,000.00 for debt repayment, a significant increase from $30,000,000.00 in the prior year[29] - Dividend payments and interest paid amounted to $3,026,457.53, compared to $1,734,391.65 in the previous year[29] Accounting Standards - The company did not apply new accounting standards or interpretations starting in 2024[29]