VITI(SH:603023)2024-04-29 11:28Financial Performance - The company's operating revenue for Q1 2024 was ¥20,533,677.14, representing a year-on-year increase of 52.41%[5] - The net profit attributable to shareholders of the listed company was ¥4,382,814.76, with a significant increase due to higher operating income and reduced expenses[11] - Basic earnings per share for the period were ¥0.008, with diluted earnings per share also at ¥0.008, indicating an increase in profitability[6] - The weighted average return on net assets was 0.56%, an increase of 0.63 percentage points compared to the previous year[6] - Total operating revenue for Q1 2024 reached ¥20,533,677.14, a 52.3% increase from ¥13,472,632.33 in Q1 2023[22] - Net profit for Q1 2024 was ¥4,382,819.84, compared to a net loss of ¥2,225,432.93 in Q1 2023, marking a significant turnaround[24] - The company's total equity attributable to shareholders increased to ¥778,486,935.10 from ¥774,104,120.34 year-over-year[21] - Investment income for Q1 2024 was ¥60,554.62, while credit impairment losses were recorded at ¥648,735.54[24] Cash Flow and Assets - The net cash flow from operating activities reached ¥13,073,882.72, reflecting changes in the scope of consolidation[12] - Operating cash flow for Q1 2024 was ¥13,073,882.72, a recovery from a negative cash flow of ¥8,982,574.48 in Q1 2023[29] - The cash flow from operating activities showed a net increase of CNY 15,008,382.72 in Q1 2024[30] - Cash inflow from operating activities totaled CNY 24,661,528.54 in Q1 2024, compared to CNY 12,649,919.00 in Q1 2023, marking an increase of about 95%[38] - The company's cash balance at the end of Q1 2024 was CNY 540,622,869.98, compared to CNY 409,344,713.66 at the end of Q1 2023, reflecting an increase of approximately 32%[39] - The company's total current assets increased to CNY 659,867,773.75 from CNY 650,246,204.65 year-over-year[31] - The company's current assets totaled RMB 680,542,961.07, compared to RMB 671,451,821.71 at the end of 2023, indicating an increase of about 1.63%[19] - Cash and cash equivalents increased to RMB 561,301,938.30 from RMB 546,293,555.58, representing a growth of approximately 2.00%[18] Liabilities and Equity - The company's total liabilities stood at RMB 19,180,375.16, up from RMB 16,705,856.66, which is an increase of approximately 8.83%[20] - The total liabilities as of March 31, 2024, were CNY 19,175,993.32, compared to CNY 16,184,070.34 in the previous year[33] - The equity attributable to shareholders of the listed company was ¥778,486,935.10, reflecting a 0.57% increase from the previous year[6] - The total equity increased to CNY 778,759,340.37 from CNY 774,344,453.19 year-over-year[33] Inventory and Receivables - Accounts receivable rose to RMB 24,348,539.58 from RMB 19,436,670.93, marking an increase of around 25.00%[19] - The company reported an increase in inventory to RMB 77,629,112.78 from RMB 79,783,646.89, a decrease of about 2.69%[19] - The company's inventory as of March 31, 2024, was CNY 77,629,112.78, down from CNY 79,783,646.89 at the end of 2023[31] Corporate Governance and Management - The company appointed Zhang Hehuan as the new General Manager and Chairman, effective from the board meeting on February 23, 2024[15][16] - The company plans to hold its second extraordinary general meeting on February 19, 2024, to discuss various corporate governance matters[15] - The company has made adjustments to its board committees to align with business development needs, enhancing its strategic oversight[16] Research and Development - Research and development expenses for Q1 2024 were ¥2,870,360.34, down from ¥3,948,203.00 in Q1 2023[22] - Research and development expenses for Q1 2024 were CNY 2,870,360.34, slightly down from CNY 2,975,505.39 in Q1 2023[35] Government Subsidies - The company received government subsidies amounting to ¥290,393.31, which positively impacted the financial results[7]