万润新能(688275) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was ¥1,154,685,836.57, representing a decrease of 62.73% compared to the same period last year[4]. - The net profit attributable to shareholders was -¥130,059,834.70, with a basic and diluted earnings per share of -¥1.03[4]. - Total revenue for Q1 2024 was CNY 1,154,685,836.57, a significant decrease from CNY 3,098,487,532.71 in Q1 2023, representing a decline of approximately 62.7%[21]. - The net loss for Q1 2024 was CNY 142,557,872.36, compared to a net loss of CNY 38,872,802.54 in Q1 2023, reflecting an increase in losses of approximately 267.5%[22]. - The total comprehensive income attributable to the parent company was -¥132,950,459.07, compared to -¥33,786,386.62 in Q1 2023, indicating a decline of approximately 293.5%[23]. - The total comprehensive income for the period was -¥145,448,496.73, compared to -¥38,872,802.54 in Q1 2023, indicating a decline of approximately 274.5%[23]. Cash Flow and Liquidity - The net cash flow from operating activities increased to ¥648,537,906.95, primarily due to a reduction in the amount of operating activity guarantee deposits paid[7]. - In Q1 2024, the company reported a net cash flow from operating activities of ¥648,537,906.95, a significant improvement compared to a net outflow of ¥1,611,876,385.71 in Q1 2023[25]. - The company experienced a net cash outflow from investing activities of ¥235,694,038.79, contrasting with a net inflow of ¥601,717,789.86 in Q1 2023[26]. - The net cash flow from financing activities was ¥117,518,294.12, a significant drop from ¥1,162,522,122.97 in the previous year[26]. - Cash and cash equivalents at the end of Q1 2024 totaled ¥2,115,925,937.14, down from ¥3,047,315,683.44 at the end of Q1 2023[26]. - The company's cash and cash equivalents decreased to CNY 66,502,831.50 in Q1 2024 from CNY 327,911,006.14 in Q1 2023, a decline of approximately 79.8%[16]. Assets and Liabilities - Total assets at the end of the reporting period were ¥18,217,817,392.99, down 6.25% from the end of the previous year[5]. - The company's total assets decreased to CNY 18,217,817,392.99 in Q1 2024 from CNY 19,431,769,993.78 in Q1 2023, a decline of approximately 6.2%[17]. - Total liabilities decreased to CNY 11,801,502,784.57 in Q1 2024 from CNY 12,840,209,564.39 in Q1 2023, representing a reduction of about 8.1%[17]. Shareholder Information - The total equity attributable to shareholders decreased by 2.47% to ¥6,423,129,448.57 compared to the end of the previous year[5]. - The total equity attributable to shareholders decreased to CNY 6,423,129,448.57 in Q1 2024 from CNY 6,585,874,131.58 in Q1 2023, a decline of approximately 2.5%[18]. - The total number of common shareholders at the end of the reporting period was 13,567[10]. - The largest shareholder, Liu Shiqi, holds 29,201,240 shares, representing 23.15% of the total shares[10]. - The company has a total of 7,448,486 shares held by Hubei Liangke Gao Investment, accounting for 5.91% of the total shares[11]. - The company reported a total of 1,995,027 shares held by Hubei New Energy Venture Capital Fund, representing 1.58% of the total shares[11]. - The company has not disclosed any significant changes in the shareholding structure among the top 10 shareholders[11]. Research and Development - Research and development expenses totaled ¥75,293,136.51, a decrease of 44.78% year-on-year, with R&D expenses accounting for 6.52% of operating revenue, an increase of 2.12 percentage points[5][8]. - Research and development expenses decreased to CNY 75,293,136.51 in Q1 2024 from CNY 136,346,342.40 in Q1 2023, a reduction of about 44.8%[22]. Market Conditions - The decline in operating revenue was attributed to a 39% increase in lithium iron phosphate sales volume, offset by a decrease in sales prices due to falling market prices of key raw materials like lithium carbonate[7]. - The overall gross margin decreased as the decline in unit selling prices of lithium iron phosphate products exceeded the decrease in unit production costs[7]. Share Repurchase - The company plans to repurchase shares using between RMB 100 million and RMB 200 million, with a maximum repurchase price of RMB 110.00 per share[12]. - As of the end of the reporting period, the company has repurchased a total of 1,366,895 shares, accounting for 1.0838% of the total share capital[13]. - The company will continue to make repurchase decisions based on market conditions during the repurchase period[13]. Financial Reporting - The company has not reported any audited financial statements for the quarter ending March 31, 2024[14]. - The company reported non-recurring gains of ¥6,119,884.71, after accounting for tax and minority interests[7].