Genew(SH:688418)2024-04-29 12:26Financial Performance - The company's operating revenue for Q1 2024 reached ¥179,943,616.32, representing a year-on-year increase of 32.64%[5] - Net profit attributable to shareholders was ¥6,993,000.48, reflecting a growth of 46.84% compared to the same period last year[5] - Basic and diluted earnings per share were both ¥0.0363, an increase of 45.27% year-on-year[6] - Net profit for Q1 2024 was ¥3,637,735.80, compared to ¥1,495,957.33 in Q1 2023, representing a 143.5% increase[20] - The company recorded a total comprehensive income of ¥4,308,905.93 for Q1 2024, compared to ¥1,355,590.99 in Q1 2023, indicating a 217.5% increase[21] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥1,998,747,728.15, up 7.19% from the end of the previous year[6] - The company's total current assets reached RMB 1,669,776,340.41, compared to RMB 1,534,093,907.59 in the previous period, indicating an increase of about 8.8%[17] - The company's total liabilities increased to RMB 1,101,710,967.66 from RMB 974,031,745.60, marking an increase of approximately 13.1%[18] - The company's equity attributable to shareholders was RMB 834,970,110.26, up from RMB 826,343,385.89, indicating a growth of about 1.8%[18] Cash Flow - The net cash flow from operating activities was negative at -¥71,724,455.08, primarily due to increased cash payments for goods and services[5][9] - Cash inflow from operating activities was ¥406,403,227.05 in Q1 2024, significantly higher than ¥220,192,185.93 in Q1 2023, marking an 84.5% increase[23] - The net cash flow from operating activities was -$71.72 million, compared to -$3.19 million in the previous year, indicating a significant decline in operational cash generation[24] - Total cash outflow from operating activities amounted to $478.13 million, up from $223.38 million year-over-year[24] Research and Development - Research and development expenses totaled ¥46,182,213.34, accounting for 25.66% of operating revenue, a decrease of 9.18 percentage points year-on-year[6] - Research and development expenses increased to ¥45,023,249.38 in Q1 2024 from ¥38,164,339.15 in Q1 2023, a rise of 17.9%[19] Shareholder Information - The company reported a total of 12,907 common shareholders at the end of the reporting period[11] - The top shareholder, Wu Minhua, holds 16.60% of the shares, totaling 32,147,460 shares[11] Contractual and Legal Matters - The company has initiated arbitration proceedings against China Wuyi Group Co., Ltd. regarding a dispute over a contract, with the case accepted by the Chengdu Arbitration Commission[13] - The company has terminated its plan to issue A-shares to specific investors for the year 2022, withdrawing the application documents[14] Other Financial Metrics - The weighted average return on equity increased to 0.84%, up 0.32 percentage points from the previous year[6] - The company experienced a significant increase in gross profit margin compared to the previous year, contributing to the rise in net profit[9] - The company reported a decrease in financial expenses, which totaled ¥8,923,931.79 in Q1 2024, compared to ¥4,986,654.75 in Q1 2023, indicating a 78.5% increase in interest expenses[19] - The company experienced a significant increase in tax expenses, with a total of ¥2,160,010.13 in Q1 2024 compared to a tax benefit of ¥3,252,193.20 in Q1 2023[20] - The company reported a significant increase in contract liabilities, which rose to RMB 336,619,275.30 from RMB 156,683,274.68, reflecting a growth of approximately 114.5%[17]