VEICHI(SH:688698)2024-04-29 11:26Financial Performance - The company's operating revenue for Q1 2024 was CNY 327,631,550.08, representing a year-on-year increase of 15.21%[5] - The net profit attributable to shareholders for the same period was CNY 53,652,023.63, reflecting a growth of 25.29% compared to the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 33.33%, amounting to CNY 52,768,000.07[5] - The basic earnings per share for Q1 2024 was CNY 0.26, an increase of 8.33% year-on-year[5] - The diluted earnings per share was CNY 0.25, reflecting a growth of 4.17% compared to the same period last year[5] - In Q1 2024, the company reported a net profit of CNY 53,716,040.37, an increase of 27.5% compared to CNY 42,098,471.01 in Q1 2023[21] - The total revenue from operating activities was CNY 215,614,112.39, up 53.4% from CNY 140,462,096.65 in the same period last year[22] - The company reported a total profit of CNY 56,354,187.32, up from CNY 48,183,218.88 in Q1 2023, reflecting a growth of 17.9%[21] - The company’s operating profit rose to CNY 56,285,874.85, compared to CNY 47,795,401.70 in the same quarter last year, marking a 17.4% increase[21] Research and Development - Research and development (R&D) expenses totaled CNY 45,652,214.46, which is 49.45% higher than the previous year, and R&D expenses accounted for 13.93% of operating revenue, an increase of 3.19 percentage points[6] - R&D expenses for the period were CNY 45.65 million, representing a 49.45% increase compared to the same period last year[14] - The company employed 544 R&D personnel, accounting for 33.75% of the total workforce[14] - The company has obtained a total of 204 valid patents, including 48 invention patents[14] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,722,981,720.76, up 7.03% from the end of the previous year[6] - Total assets as of Q1 2024 amounted to ¥2,722,981,720.76, an increase from ¥2,544,181,035.50 in Q1 2023, representing a growth of 7%[18] - Total liabilities for Q1 2024 were ¥718,427,288.41, compared to ¥609,017,552.54 in Q1 2023, indicating an increase of 18%[18] - Current assets totaled ¥1,527,689,385.17 in Q1 2024, up from ¥1,420,857,313.91 in Q1 2023, reflecting a growth of 7.5%[18] - The company reported a significant increase in inventory, which rose to ¥322,781,412.82 from ¥219,408,063.43, marking a 47% increase[18] - The company’s equity attributable to shareholders reached ¥1,983,970,872.71 in Q1 2024, compared to ¥1,929,831,123.26 in Q1 2023, showing a growth of 2.8%[18] Cash Flow - The net cash flow from operating activities was negative at CNY -21,577,195.67, which is not applicable for year-on-year comparison[5] - The company experienced a net cash outflow from operating activities of CNY -21,577,195.67, an improvement from CNY -23,733,592.93 in Q1 2023[23] - Investment activities generated a net cash inflow of CNY 92,505,978.05, compared to CNY 83,607,526.68 in the previous year[23] - The company’s cash and cash equivalents at the end of Q1 2024 stood at CNY 254,452,404.28, an increase from CNY 239,031,410.47 at the end of Q1 2023[23] - The company received CNY 19,706,917.02 in tax refunds, significantly higher than CNY 9,356,876.60 in Q1 2023[22] Shareholder Information - The company reported a total of 7,211 ordinary shareholders at the end of the reporting period[10] - The top ten shareholders include Huai'an Weichuang Electric Technology Co., Ltd., holding 125 million shares, which represents a significant stake[12] Market Strategy - The company continues to focus on strategic market expansion and deepening customer cooperation in key industries such as machine tools and textiles[14] - The company has maintained strong growth momentum in its core industries, contributing to overall revenue growth[14]