LYG(SH:600876)2024-04-29 11:21Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,437,775,429.95, representing a slight increase of 0.80% compared to CNY 1,426,425,959.62 in the same period last year[4] - The net profit attributable to shareholders of the listed company was a loss of CNY 6,353,117.41, a decrease of 151.04% from a profit of CNY 12,446,203.87 in the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 9,261,251.99, a decline of 419.37% compared to CNY 2,899,850.66 in the same period last year[4] - The basic and diluted earnings per share were both -0.0098 yuan, down 150.78% from 0.0193 yuan in the previous year[21] - Operating profit for Q1 2024 decreased significantly to approximately ¥4.86 million, down from ¥27.70 million in Q1 2023, reflecting a decline of 82.5%[32] - The company reported a net increase in cash and cash equivalents of approximately ¥34.17 million for Q1 2024, compared to an increase of ¥299.75 million in Q1 2023, a decline of 88.6%[35] - In Q1 2024, the company reported a net profit of ¥1,209,435.57, a significant decrease from ¥21,789,786.50 in Q1 2023, reflecting a decline of approximately 94.45%[45] - The total comprehensive income for Q1 2024 was ¥1,209,435.57, compared to ¥21,789,786.50 in Q1 2023, indicating a decrease of about 94.45%[45] - The basic earnings per share for Q1 2024 was -¥0.0098, down from ¥0.0193 in Q1 2023, representing a decline of approximately 103.94%[45] Cash Flow - The net cash flow from operating activities was -CNY 74,387,649.98, an improvement from -CNY 204,756,028.87 in the same period last year[21] - Cash inflows from operating activities in Q1 2024 totaled ¥1,259,920,736.97, an increase from ¥1,037,747,647.19 in Q1 2023, marking a growth of about 21.31%[48] - Cash outflows from operating activities in Q1 2024 were ¥1,334,308,386.95, compared to ¥1,242,503,676.06 in Q1 2023, reflecting an increase of approximately 7.38%[48] - The net cash flow from operating activities in Q1 2024 was -¥74,387,649.98, an improvement from -¥204,756,028.87 in Q1 2023[48] - The company recorded cash inflows from investment activities of ¥3,982,508.50 in Q1 2024, with cash outflows for fixed asset purchases amounting to ¥114,618,292.53[48] Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,364,578,491.85, a decrease of 0.51% from CNY 12,427,698,664.06 at the end of the previous year[21] - The equity attributable to shareholders of the listed company was CNY 4,620,798,349.14, down 0.14% from CNY 4,627,151,466.55 at the end of the previous year[21] - The total assets amounted to 12,364,578,491.85, slightly down from 12,427,698,664.06[29] - Total liabilities as of Q1 2024 were approximately ¥7.31 billion, a slight decrease from ¥7.37 billion in Q1 2023, reflecting a reduction of 0.9%[41] - The total equity attributable to shareholders as of Q1 2024 was approximately ¥4.62 billion, down from ¥4.63 billion in Q1 2023, indicating a decrease of 0.07%[41] Government Support and R&D - The company received government subsidies amounting to CNY 3,253,243.41, which are closely related to its normal business operations[21] - The company is focusing on capitalizing on R&D investments, with development expenditures increasing by 37.46% to CNY 20,474,752.79 compared to the previous year[23] - Research and development expenses for Q1 2024 were not specified, but in Q1 2023, they amounted to approximately ¥54.51 million, down from ¥58.20 million, indicating a decrease of 6.5%[32] Shareholder Information - The total number of common shareholders at the end of the reporting period was 34,080[24] - HKSCC NOMINEES LIMITED holds 249,168,789 shares, representing 38.59% of total shares[25] Operational Challenges - The company reported a significant decline in gross margin due to falling prices of photovoltaic glass, impacting profitability[23] - The net cash flow from investing activities decreased to -110,635,784.03 from -261,091,956.21, indicating a reduction in project construction payments year-on-year[24] - The net cash flow from financing activities was 218,465,452.70, down 71.46% from 765,414,897.09, reflecting controlled financing scale based on operational and construction needs[24]