Linewell(SH:603636)2024-04-29 11:36Financial Performance - The company's operating revenue for Q1 2024 was CNY 107.82 million, a decrease of 26.97% compared to the same period last year[4]. - The net profit attributable to shareholders was CNY -67.48 million, representing a decline of 209.87% year-on-year[4]. - The cash flow from operating activities was CNY -194.72 million, an improvement of 17.25% compared to the previous year[4]. - The gross margin decreased by 14.93% due to a lower proportion of self-developed software in the acceptance projects[8]. - The company reported a decrease in cash receipts from sales to CNY 209 million, down 9.23% year-on-year[8]. - Total revenue for Q1 2024 was ¥107,821,887.71, a decrease of 27% compared to ¥147,634,567.77 in Q1 2023[26]. - The net profit for Q1 2024 was a loss of CNY 69,242,344.67, compared to a loss of CNY 24,256,025.11 in Q1 2023, representing an increase in loss of 186.56%[28]. - The total operating costs for Q1 2024 were CNY 181,563,285.33, an increase of 6.96% compared to CNY 171,365,481.09 in Q1 2023[27]. - The financial expenses for Q1 2024 were CNY 5,397,492.45, compared to a financial income of CNY 4,486,203.66 in Q1 2023, indicating a significant shift in financial performance[27]. - The company incurred an investment loss of CNY 6,122,947.53 in Q1 2024, worsening from a loss of CNY 2,225,783.64 in Q1 2023[27]. - The basic and diluted earnings per share for Q1 2024 were both CNY -0.12, compared to CNY -0.04 in Q1 2023[28]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 6.22 billion, a 1.41% increase from the end of the previous year[5]. - Current assets increased to ¥3,854,015,583.96 as of March 31, 2024, compared to ¥3,748,627,756.68 as of December 31, 2023, reflecting a growth of approximately 2.8%[21]. - Cash and cash equivalents decreased to ¥269,069,137.66 from ¥371,423,025.32, representing a decline of about 27.6%[21]. - Accounts receivable slightly decreased to ¥2,356,129,173.04 from ¥2,378,814,052.05, a reduction of approximately 1%[21]. - Inventory increased significantly to ¥467,550,368.45 from ¥301,266,937.48, marking an increase of about 55%[21]. - Non-current assets totaled ¥2,364,367,779.96 as of March 31, 2024, down from ¥2,383,452,087.71, a decrease of approximately 0.8%[22]. - Total liabilities rose to ¥3,506,500,179.86 from ¥3,333,345,315.66, indicating an increase of about 5.2%[23]. - Short-term borrowings increased to ¥1,397,310,216.86 from ¥1,188,345,286.71, reflecting a rise of approximately 17.6%[22]. - The equity attributable to shareholders decreased to ¥2,631,149,330.48 from ¥2,698,632,632.48, a decline of approximately 2.5%[23]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 49,542[10]. - The company reported a total of 10,433,055 shares held in the repurchase account, representing 1.77% of total shares[12]. - The company’s major shareholders include Wu Zhixiong, holding 239,181,429 shares, which is a significant portion of the total shares[13]. - The company’s major shareholders have participated in margin trading, with a total of 1,100,000 shares held by shareholders through margin accounts[13]. - The company reported that the Southern China Securities 1000 Index Fund had a total of 1,529,103 shares, representing 0.26% of total shares[14]. Business Development - New contract signing amount reached CNY 290 million, an increase of 23.40% year-on-year, driven by ongoing projects in the public security sector[7]. - The company plans to continue expanding its business in the public security sector and has successfully implemented new AI-based products[7]. - The company terminated the agreement with China Resources Digital Technology, which will facilitate the introduction of strategic investors and enhance the company's ability to conduct mergers and acquisitions[15]. - The company increased its wholly-owned subsidiary, Northern Technology Group's registered capital from 100 million to 500 million RMB, completing the registration on March 9, 2023[16]. - The company holds an 11.899% stake in Sifang Weiye Software Co., Ltd., which is currently undergoing the IPO process on the Sci-Tech Innovation Board[17]. - The company has invested 1.43 million RMB in the Hai Si Qi Hang investment partnership, acquiring a 4.25% stake in Tianjin Yixin Environmental Engineering Co., Ltd.[15]. - The company is preparing for the New Third Board listing of its subsidiary, Taiji Zhizhi, as approved by the board of directors[16]. Accounting and Standards - The company announced the implementation of new accounting standards starting in 2024, which will involve adjustments to the financial statements at the beginning of the year[33].