华菱精工(603356) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was ¥239,557,380.33, representing a decrease of 20.76% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥13,578,146.04, reflecting a significant decline of 1,476.59% year-over-year due to reduced market orders and sales[5][8]. - The net cash flow from operating activities was -¥74,348,121.61, indicating a decrease of 322.04% primarily due to reduced collection of receivables[5][8]. - Total revenue for Q1 2024 was CNY 239,557,380.33, a decrease of 20.8% compared to CNY 302,318,868.50 in Q1 2023[24]. - The net profit for Q1 2024 was -14,699,169.82 RMB, compared to -4,659,531.25 RMB in Q1 2023, indicating a significant increase in losses[25]. - Operating profit for Q1 2024 was a loss of CNY 14,562,848.29, compared to a loss of CNY 15,180,308.86 in Q1 2023[24]. - The total comprehensive income attributable to the parent company for Q1 2024 was -13,578,146.04 RMB, compared to -861,234.92 RMB in Q1 2023[25]. Assets and Liabilities - Total assets at the end of Q1 2024 were ¥1,729,748,179.71, down 5.63% from the end of the previous year[6]. - Current assets totaled CNY 828,574,149.16, a decrease of 12.4% from CNY 946,645,128.72 at the end of 2023[20]. - Non-current assets increased to CNY 901,174,030.55 from CNY 886,350,121.12, reflecting a growth of 1.4%[20]. - Total liabilities decreased to CNY 962,849,559.11 from CNY 1,026,999,052.37, a reduction of 6.2%[21]. - Cash and cash equivalents decreased to CNY 150,249,008.65 from CNY 235,579,547.67, a decline of 36.3%[20]. - Accounts receivable decreased to CNY 371,100,189.46 from CNY 414,490,041.59, a drop of 10.5%[20]. - Inventory increased to CNY 186,876,543.93 from CNY 167,704,351.36, an increase of 11.4%[20]. Shareholder and Equity Information - The company's equity attributable to shareholders decreased to ¥645,892,725.75, down 5.56% from the previous year-end[6]. - The company repurchased a total of 2,305,600 shares, accounting for 1.73% of the total share capital of 133,340,000 shares, with a total expenditure of RMB 27,208,648[14]. - The share repurchase was conducted at a price range between RMB 10.45 and RMB 12.58 per share, with a maximum repurchase price set at RMB 20.92 per share[13]. - The company plans to use the repurchased shares for employee stock ownership plans or equity incentives[12]. - The company’s major shareholders include Huang Yehua with 17.71% and Jiedeng Zero Carbon (Jiangsu) New Energy Technology Co., Ltd. with 9.50%[11]. - The company has not reported any changes in the shareholding structure of the top 10 shareholders due to margin trading activities[12]. Government Support and Regulatory Actions - The company received government subsidies amounting to ¥2,678,293.54, which positively impacted the financial results[7]. - The company terminated its plan to issue A-shares to specific investors and withdrew the application documents[17]. - The company received approval from the Shanghai Stock Exchange for its securities issuance application, which was later withdrawn[16]. Cash Flow and Financing Activities - Operating cash flow for Q1 2024 was -74,348,121.61 RMB, worsening from -17,616,371.80 RMB in the same period last year[28]. - The company incurred total operating cash outflows of 342,342,294.47 RMB in Q1 2024, compared to 381,086,394.57 RMB in Q1 2023[28]. - The net cash flow from financing activities was -2,200,359.32 RMB in Q1 2024, an improvement from -49,083,640.30 RMB in Q1 2023[29]. - The company raised 123,000,000.00 RMB through borrowings in Q1 2024, an increase from 116,000,000.00 RMB in Q1 2023[29]. - The company reported a cash flow from investing activities of -8,982,058.09 RMB in Q1 2024, compared to -36,246,507.60 RMB in Q1 2023[29]. Operational Insights - The decline in revenue and profit was primarily due to a decrease in orders in the elevator market, leading to lower sales and gross margins[8]. - The company reported a significant drop in non-recurring profit and loss, with a total of ¥2,051,578.53 after tax adjustments[8]. - The company has not disclosed any significant operational changes or new product developments in the current report[12]. - The company's financial statements for the first quarter of 2024 are unaudited as of March 31, 2024[18].