KMCL(SH:600579)2024-04-29 11:21Financial Performance - The company's operating revenue for Q1 2024 was ¥2,282,042,186.60, representing a decrease of 11.89% compared to the same period last year[5] - The net profit attributable to shareholders was ¥37,579,075.40, while the net profit excluding non-recurring gains and losses was -¥327,461,035.34[5] - The basic earnings per share for Q1 2024 was ¥0.08, reflecting a turnaround compared to the same period last year[10] - Total revenue for Q1 2024 was CNY 2,282,042,186.60, a decrease of 11.8% compared to CNY 2,589,920,519.12 in Q1 2023[25] - Net profit for Q1 2024 was CNY 62,363,908.32, compared to a net loss of CNY 338,234,490.39 in Q1 2023[26] - The company experienced a total comprehensive loss of ¥133,273,150.40 in Q1 2024, compared to a loss of ¥349,676,836.82 in Q1 2023[27] - Basic and diluted earnings per share for Q1 2024 were both ¥0.08, a recovery from a loss of ¥0.68 per share in the same quarter last year[27] Cash Flow and Assets - The net cash flow from operating activities was ¥52,813,816.63, indicating a positive cash flow despite challenging operating conditions[5] - The company reported a net cash flow from operating activities of ¥52,813,816.63, a significant improvement compared to a net outflow of ¥509,169,079.53 in Q1 2023[30] - The company's cash and cash equivalents as of March 31, 2024, are ¥886,071,509.16, down from ¥1,054,573,827.72 as of December 31, 2023[19] - Cash and cash equivalents at the end of Q1 2024 stood at ¥800,595,222.21, down from ¥959,785,917.10 at the beginning of the quarter[31] - The company recorded a net cash flow from investing activities of ¥1,237,681,819.89, compared to a net outflow of ¥352,823,464.67 in Q1 2023[31] - The company’s total cash outflow from financing activities was ¥2,566,964,839.24, significantly higher than ¥407,717,448.79 in Q1 2023[31] - The company reported a decrease in cash received from financing activities, totaling ¥1,123,274,370.59, compared to ¥788,870,627.43 in Q1 2023[31] Assets and Equity - Total assets at the end of Q1 2024 were ¥17,238,555,520.23, down 11.64% from the end of the previous year[6] - The equity attributable to shareholders decreased by 13.05% to ¥623,560,842.22 compared to the end of the previous year[6] - The company's total assets decreased to CNY 17,238,555,520.23 in Q1 2024 from CNY 19,508,893,162.10 in Q1 2023[21] - The total equity attributable to shareholders decreased to CNY 623,560,842.22 in Q1 2024 from CNY 717,183,873.38 in Q1 2023[22] Orders and Market Conditions - The company reported a decrease in new orders due to geopolitical factors and slow economic growth in Europe, impacting revenue generation[9] - In Q1 2024, KM Group signed new orders worth €25.646 million (approximately ¥198.6 million), a year-on-year decrease of 9.36%[16] - The backlog of orders for KM Group as of March 31, 2024, is €85.897 million (approximately ¥665.2 million), an increase of 1.44% from December 31, 2023[16] - The backlog of orders for Tianhua Chemical Machinery in Q1 2024 is ¥127.167 million, a decrease of 0.5% from December 31, 2023[16] - The European plastics and rubber machinery industry is projected to see a decline in sales revenue from €18 billion in 2023 to €17 billion in 2024[14] Strategic Initiatives - The company aims to improve operational efficiency through cost reduction measures and streamlining workforce, which is expected to positively impact future performance[9] - As of Q1 2024, KM Group has reduced 234 positions as part of a global efficiency plan aimed at cost reduction and improved competitiveness[17] - The company plans to continue focusing on market expansion and new product development as part of its strategic initiatives moving forward[24] - KM Group plans to collaborate with nine partners, including universities and research institutes, to study AI applications in process optimization, supported by approximately €2 million from the Bavarian government[17] Research and Development - Research and development expenses increased to CNY 91,068,796.56 in Q1 2024 from CNY 69,351,215.44 in Q1 2023, reflecting a growth of 31.2%[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 33,440[12] - The largest shareholder, China National Chemical Corporation, holds 214,723,549 shares, accounting for 43.25% of total shares[12]