SK(SH:688155)2024-04-29 11:58Financial Performance - The company's operating revenue for Q1 2024 was ¥488,922,961.14, representing a decrease of 17.48% compared to the same period last year[5] - Net profit attributable to shareholders was ¥48,382,271.21, an increase of 184.59% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥39,595,241.44, reflecting a significant increase of 252.83%[5] - Basic earnings per share were ¥0.63, which is an increase of 186.36% year-on-year[6] - Net profit for Q1 2024 reached ¥84,377,327.74, representing a 105.5% increase from ¥41,093,208.70 in Q1 2023[20] - Earnings per share for Q1 2024 was ¥0.63, compared to ¥0.22 in Q1 2023, indicating a significant improvement[21] - The company reported a total comprehensive income of ¥86,001,641.53 for Q1 2024, compared to ¥41,519,231.34 in Q1 2023[21] Cash Flow and Liquidity - The net cash flow from operating activities reached ¥297,713,925.67, up by 195.94% compared to the previous year[6] - Cash flow from operating activities for Q1 2024 was ¥297,713,925.67, up from ¥100,598,297.61 in Q1 2023[24] - The company’s cash inflow from operating activities totaled ¥734,355,008.02, compared to ¥509,440,676.11 in Q1 2023[24] - Cash and cash equivalents at the end of the period totaled $457,616,956.57, down from $605,077,810.42 year-over-year[25] - The net increase in cash and cash equivalents for the period was $147,304,080.14, compared to $210,032,084.54 in the previous period[25] - The company paid $12,215,486.27 in dividends, profits, or interest, up from $7,015,440.33 in the previous period[25] - The company repaid $218,540,913.61 in debt, which is significantly higher than $127,556,294.43 in the previous period[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,741,449,553.66, a 3.40% increase from the end of the previous year[6] - As of March 31, 2024, the company's total assets amounted to RMB 4,741,449,553.66, an increase from RMB 4,585,525,042.89 as of December 31, 2023, reflecting a growth of approximately 3.4%[15] - Accounts receivable decreased to RMB 636,962,438.59 from RMB 951,574,888.75, representing a decline of approximately 33.0%[15] - The company's inventory stood at RMB 723,675,087.18, down from RMB 741,141,098.95, showing a decrease of about 2.4%[16] - Total current liabilities were RMB 2,429,177,647.82, slightly up from RMB 2,419,482,305.76, indicating a marginal increase of around 0.3%[17] - Long-term borrowings increased to RMB 610,523,427.25 from RMB 548,925,866.56, reflecting a rise of approximately 11.2%[17] - The company's total liabilities amounted to RMB 3,159,254,504.47, compared to RMB 3,087,836,131.08, marking an increase of about 2.3%[17] - The equity attributable to shareholders was RMB 2,582,195,049.19, up from RMB 2,497,688,911.81, representing an increase of approximately 3.4%[17] Research and Development - Research and development expenses totaled ¥26,855,110.37, accounting for 5.49% of operating revenue, which is an increase of 0.21 percentage points[6] - Research and development expenses for Q1 2024 were ¥26,855,110.37, a decrease of 14.4% from ¥31,258,444.51 in Q1 2023[19] Operational Insights - The company attributed the decline in operating revenue to an increase in the proportion of overseas projects and a decrease in revenue recognition during the reporting period[9] - The increase in net profit was driven by cost reduction measures, improved production efficiency, and increased government subsidies[9] Other Financial Activities - Investment activities resulted in a net cash outflow of ¥121,578,405.40 in Q1 2024, compared to a net outflow of ¥15,196,066.03 in Q1 2023[24] - The net cash flow from financing activities was -$27,328,322.15, a decrease compared to $124,165,067.30 in the previous period[25] - Total cash inflow from financing activities was $206,154,408.00, compared to $264,403,111.96 in the previous period[25] - Total cash outflow from financing activities was $233,482,730.15, an increase from $140,238,044.66 year-over-year[25] - The company experienced a negative impact of -$1,503,117.98 from foreign exchange fluctuations on cash and cash equivalents[25] Accounting Standards - The company is not applying new accounting standards or interpretations for the first time in 2024[25]