Financial Performance - Operating revenue for Q1 2024 was ¥389,956,177.64, a decrease of 11.49% from ¥440,563,101.88 in Q1 2023[12] - Net profit attributable to shareholders for Q1 2024 was ¥19,033,104.45, down 25.46% from ¥25,534,911.26 in the same period last year[12] - The company reported a significant reduction in accounts receivable financing, down 99.93% to ¥1,453.63, due to fewer bank acceptance bills[14] - The company's revenue for the current period is 2,302,825.08 yuan, a decrease of 280.16% compared to the same period last year, primarily due to weak overall demand in the electricity market and slower order placement from grid customers[15] - Total revenue for Q1 2024 was CNY 389,956,177.64, a decrease of 11.5% compared to CNY 440,563,101.88 in Q1 2023[37] - Net profit for Q1 2024 was CNY 19,033,104.45, a decline of 25.5% from CNY 25,534,911.26 in Q1 2023[38] - The total comprehensive income for Q1 2024 was CNY 19,033,104.45, down from CNY 25,534,911.26 in Q1 2023[38] Cash Flow - The net cash flow from operating activities for Q1 2024 was -¥187,767,308.71, representing an 80.72% decline compared to -¥103,899,935.23 in Q1 2023[12] - The net cash flow from operating activities decreased by 83,867,373.48 yuan, a decline of 80.72%, attributed to a reduction in cash received from sales orders and an increase in cash paid for purchases[15] - Operating cash inflow for Q1 2024 was CNY 374,879,535.08, a decrease of 12.8% compared to CNY 429,976,118.76 in Q1 2023[42] - Operating cash outflow for Q1 2024 totaled CNY 562,646,843.79, compared to CNY 533,876,053.99 in Q1 2023, resulting in a net cash flow from operating activities of -CNY 187,767,308.71[43] - The company reported a net cash decrease of CNY 75,533,899.75 in Q1 2024, compared to a decrease of CNY 36,171,924.05 in Q1 2023[43] Assets and Liabilities - Total assets as of March 31, 2024, reached ¥1,820,567,016.24, an increase of 3.50% compared to the end of 2023[12] - The total liabilities to total assets ratio (consolidated) was 53.38%, slightly up from 52.83% at the end of 2023[12] - Total liabilities increased to CNY 1,035,460,183.29 in 2024 from CNY 999,113,313.60 in 2023[36] - Total equity rose to CNY 882,964,701.00 in 2024, up from CNY 862,103,604.25 in 2023[36] - Current liabilities rose to ¥957,103,729.17 from ¥914,558,369.87, an increase of about 4.6%[32] - The total liabilities increased to ¥971,886,583.13 from ¥929,341,223.83, marking a growth of around 4.6%[33] Shareholder Information - The company’s total share capital remains at 201,600,000 shares, with 9,690 shareholders[19] - Major shareholders include Zhu Shuiliang with 33.96% and Ling Zhonggen with 10.06% of the shares[20] - There were no pledges or judicial freezes on shares held by major shareholders[21] Inventory and Receivables - The company reported an increase in inventory balance by 88,143,400 yuan compared to the same period last year, leading to a corresponding increase in inventory impairment provision[15] - Accounts receivable increased to ¥815,514,813.41 from ¥758,626,154.61, indicating a growth of approximately 7.5%[31] - Inventory rose to ¥447,871,464.26, up from ¥356,676,473.26, reflecting a growth of about 25.5%[31] Other Income and Expenses - Other income for Q1 2024 increased by 200.74% to ¥7,746,869.24, attributed to VAT deductions not present in the previous year[14] - Research and development expenses for Q1 2024 were CNY 11,566,628.06, a decrease of 27.1% from CNY 15,837,299.69 in Q1 2023[37] - The company reported a credit impairment loss of CNY -3,850,049.50 in Q1 2024, compared to CNY -1,734,712.45 in Q1 2023[38] Litigation and Guarantees - The company is involved in litigation and arbitration amounting to ¥6,248,357.74, representing 0.74% of net assets[25] - The company has provided guarantees for its wholly-owned subsidiaries with a credit limit of up to ¥10,000,000 for each, effective for 12 months from the board's approval date[25]
晨光电缆(834639) - 2024 Q1 - 季度财报