LSHEC(SH:603169)2024-04-29 10:44Financial Performance - The company's operating revenue for Q1 2024 was ¥927,255,084.99, representing a decrease of 0.93% compared to the same period last year[2] - Net profit attributable to shareholders was ¥33,114,671.21, an increase of 9.16% year-on-year[2] - The net profit after deducting non-recurring gains and losses was ¥32,010,000.49, which increased by 66.91% due to higher product profits[5] - Operating profit increased to ¥33.07 million in Q1 2024, up 8.5% from ¥30.50 million in Q1 2023[16] - Net profit attributable to shareholders of the parent company rose to ¥33.11 million, a 9.3% increase from ¥30.34 million in the same period last year[17] - The net profit for Q1 2024 was CNY 16.06 million, a decrease of 59.5% compared to CNY 39.65 million in Q1 2023[25] Cash Flow - The net cash flow from operating activities decreased by 80.56% to ¥15,245,695.44, primarily due to increased payments for materials[5] - Cash flow from operating activities generated a net amount of ¥15.25 million, down 80.6% from ¥78.44 million in Q1 2023[19] - The net cash flow from financing activities was ¥610.51 million, a decrease of 38.1% compared to ¥986.18 million in Q1 2023[20] - The company reported a net cash flow from financing activities of CNY 526,234,779.57, a decrease of 47.9% from CNY 1,011,876,424.51 in Q1 2023[26] - The cash inflow from operating activities was impacted by a decrease in cash received from sales, which totaled CNY 825,150,228.31, down 9.6% from CNY 912,601,865.64 in Q1 2023[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥12,921,192,009.77, up 3.07% from the end of the previous year[2] - The company's total assets amounted to RMB 12,921,192,009.77, an increase from RMB 12,536,924,518.54 as of December 31, 2023, reflecting a growth of approximately 3.06%[12] - Total current liabilities decreased to RMB 7,699,248,784.88 from RMB 7,863,680,371.70, a reduction of approximately 2.09%[13] - The company's total liabilities increased to RMB 9,530,032,507.80 from RMB 9,178,749,003.31, indicating an increase of approximately 3.83%[13] - The total liabilities increased to CNY 8.32 billion, up from CNY 8.05 billion, indicating a rise of approximately 3.4%[23] Equity and Shareholder Information - The weighted average return on equity was 1.05%, an increase of 0.09 percentage points[2] - The number of ordinary shareholders at the end of the reporting period was 70,077[6] - The total equity attributable to shareholders increased to RMB 3,173,306,786.11 from RMB 3,139,578,321.28, showing a growth of approximately 1.07%[14] - The company's total equity increased slightly to CNY 3.14 billion from CNY 3.12 billion, reflecting a growth of 0.3%[23] Research and Development - Research and development expenses increased by 34.34% as the company continued to promote the development of new energy equipment[5] - Research and development expenses increased to ¥17.23 million, representing a 34.5% increase from ¥12.83 million in Q1 2023[16] - Research and development expenses for Q1 2024 were CNY 3.82 million, up 18.9% from CNY 3.21 million in Q1 2023[25] Inventory and Receivables - The company's inventory as of March 31, 2024, was RMB 3,382,538,527.14, up from RMB 3,185,165,580.12, reflecting an increase of about 6.19%[12] - The company's inventory as of March 31, 2024, was CNY 1.72 billion, an increase of 5.2% from CNY 1.63 billion at the end of 2023[22] - The accounts receivable decreased to RMB 1,052,860,978.96 from RMB 1,269,563,375.00, a decline of approximately 17.1%[12] Financing Activities - Long-term borrowings increased by 48.87% as the company adjusted its debt structure[5] - The company's long-term borrowings rose to RMB 1,570,405,504.16 from RMB 1,054,900,000.00, indicating an increase of around 48.6%[13] - Short-term borrowings rose to CNY 1.65 billion, an increase of 17.6% from CNY 1.41 billion at the end of 2023[23] - The company received CNY 2,383,000,000.00 in cash from borrowings, a decrease of 5.1% compared to CNY 2,511,000,000.00 in Q1 2023[26] Other Income and Expenses - The company recorded a significant increase in other income by 160.25% due to the enjoyment of VAT deduction policies[5] - The financial expenses for Q1 2024 were CNY 33.21 million, an increase of 35.4% compared to CNY 24.56 million in Q1 2023[25]