Financial Performance - Net profit attributable to shareholders for Q1 2024 was CNY 1,612,122.15, representing a decline of 70.48% year-over-year[10]. - Operating revenue for Q1 2024 reached CNY 34,924,857.58, an increase of 11.35% compared to the same period last year[10]. - The company reported a net profit of 34,352,000, representing a profit margin of 41.53%[16]. - The company reported a total profit of ¥1,688,204.45 for Q1 2024, down from ¥6,287,532.90 in Q1 2023, a decline of 73.1%[36]. - Net profit for Q1 2024 was ¥1,570,890.05, a decrease of 71.2% from ¥5,461,277.43 in Q1 2023[36]. Assets and Liabilities - Total assets as of March 31, 2024, were CNY 361,025,256.97, a decrease of 0.33% compared to the end of the previous year[10]. - The company's asset-liability ratio (consolidated) improved to 13.60% from 14.39% at the end of the previous year[10]. - Total assets decreased from ¥362.22 billion to ¥361.03 billion, a decline of approximately 0.33%[28]. - Total liabilities decreased from ¥52.12 billion to ¥49.09 billion, a reduction of about 5.83%[29]. - Current liabilities decreased from ¥40.03 billion to ¥37.19 billion, a decrease of approximately 7.1%[28]. - Non-current liabilities decreased from ¥12.10 billion to ¥11.90 billion, a decline of about 1.65%[28]. - Owner's equity increased from ¥310.09 billion to ¥311.94 billion, an increase of approximately 0.59%[29]. Cash Flow - The company's cash flow from operating activities for Q1 2024 was CNY 10,730,084.86, down 15.84% from the previous year[10]. - Operating cash flow for Q1 2024 was CNY 10,730,084.86, a decrease of 15.9% compared to CNY 12,750,323.62 in Q1 2023[41]. - Total cash inflow from operating activities was CNY 54,563,270.75, down from CNY 59,021,723.18 in the same period last year, reflecting a decline of 7.8%[41]. - Cash outflow from operating activities totaled CNY 43,833,185.89, compared to CNY 46,271,399.56 in Q1 2023, indicating a decrease of 5.3%[41]. - Cash and cash equivalents at the end of Q1 2024 were CNY 140,478,695.51, down from CNY 166,845,216.27 at the end of Q1 2023, a decrease of 15.8%[42]. Expenses - The gross profit margin decreased due to a 30.85% increase in operating costs, primarily driven by higher manufacturing expenses[12]. - Total operating costs for Q1 2024 were ¥33,354,760.74, up 30% from ¥25,679,068.86 in Q1 2023[34]. - Research and development expenses for Q1 2024 totaled ¥1,807,939.70, compared to ¥1,632,794.63 in Q1 2023, reflecting a year-over-year increase of 10.7%[34]. - Sales expenses increased to ¥925,204.17 in Q1 2024, up from ¥786,605.39 in Q1 2023, marking a rise of 17.7%[34]. - Management expenses rose to ¥4,111,768.60 in Q1 2024, compared to ¥3,037,076.25 in Q1 2023, an increase of 35.4%[34]. Other Financial Metrics - The weighted average return on equity (attributable to shareholders) decreased to 0.52% from 1.79% year-over-year[10]. - Non-recurring gains and losses for the period amounted to CNY 124,150.87, after tax impacts[13]. - The company reported a net loss of CNY 57,614.58 from credit impairment losses, a drastic increase of 2,404.58%[12]. - The company received CNY 792,458.09 in tax refunds during Q1 2024, compared to CNY 1,372,432.86 in Q1 2023, reflecting a decline of 42.3%[43]. - Cash inflow from investment activities was CNY 600,000.00 in Q1 2024, significantly lower than CNY 30,247,750.00 in Q1 2023[44]. Operational Insights - The company has no significant litigation or arbitration matters during the reporting period[20]. - Daily related transactions for purchasing raw materials were estimated at 2,600,000, with actual transactions amounting to 454,478.04[20]. - The company has no pledged or frozen assets, ensuring liquidity and operational flexibility[17]. - The company is currently executing its disclosed commitments as per the annual report[21]. - There are no significant changes in shareholder relationships or major acquisitions reported during the period[19].
七丰精工(873169) - 2024 Q1 - 季度财报