BLB(SZ:002286)2024-04-29 13:37Financial Performance - The company achieved operating revenue of CNY 551.22 million in Q1 2024, a decrease of 9.68% compared to the same period last year[4]. - Net profit attributable to shareholders was CNY 23.17 million, representing a year-on-year increase of 35.89%, exceeding the company's budget target[4]. - The net profit after deducting non-recurring gains and losses was CNY 20.32 million, up 59.01% year-on-year[8]. - Basic and diluted earnings per share increased by 20.00% to CNY 0.06 per share[8]. - Net profit for Q1 2024 increased to CNY 23,168,151.36, representing a growth of 36.1% compared to CNY 17,049,704.23 in Q1 2023[22]. - The net profit attributable to the parent company for Q1 2024 was ¥23,168,151.36, compared to ¥17,049,704.23 in Q1 2023, representing a year-over-year increase of approximately 36.9%[23]. - The total comprehensive income for Q1 2024 was ¥1,716,671.41, a significant decrease from ¥32,620,754.38 in Q1 2023[23]. Cash Flow - The company reported a significant decline in net cash flow from operating activities, amounting to CNY -14.44 million, a decrease of 1,385.25% compared to the previous year[8]. - Cash flow from operating activities showed a significant decline of 1385.25%, resulting in a net outflow of ¥14,443,157.72 due to increased raw material purchases[12]. - Cash inflows from operating activities totaled ¥607,571,686.93 in Q1 2024, down from ¥669,049,904.66 in Q1 2023, reflecting a decrease of approximately 9.2%[25]. - Cash outflows from operating activities were ¥622,014,844.65 in Q1 2024, compared to ¥667,926,138.90 in Q1 2023, showing a reduction of about 6.9%[25]. - The net cash flow from investing activities was -¥2,729,565.38 in Q1 2024, an improvement from -¥34,284,882.76 in Q1 2023[26]. - The net cash flow from financing activities for Q1 2024 was ¥10,815,989.77, compared to -¥19,788,346.69 in Q1 2023, indicating a positive shift in financing cash flow[26]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2.65 billion, a slight decrease of 0.20% from the end of the previous year[8]. - The company’s total assets were CNY 2,653,608,973.27, slightly down from CNY 2,658,892,343.60 in Q1 2023[19]. - Total liabilities amounted to CNY 697,847,427.22, up 3.0% from CNY 675,406,526.56 year-over-year[19]. - Current assets totaled CNY 850,715,672.95, an increase of 8.3% from CNY 785,867,159.38 in the previous year[18]. - Accounts receivable rose to CNY 248,503,016.55, up 8.5% from CNY 229,110,279.30 year-over-year[18]. - Inventory increased to CNY 334,273,988.27, reflecting a growth of 20.0% compared to CNY 278,582,358.53 in Q1 2023[18]. Operational Focus and Strategy - The company is focusing on high-margin, differentiated markets and has seen an increase in sales volume and revenue in its core business despite a decline in feed business revenue[4]. - The company is actively expanding into new markets and applications, such as HMO and high-end modified starch, to gain a competitive edge[5]. - The company plans to continue its business transformation in Q2, focusing on high-profit businesses and improving operational efficiency[6]. - The company aims to achieve rapid growth through both organic growth and strategic acquisitions[7]. Expenses - The company reported a decrease in management expenses to CNY 16,276,681.21, down 43.1% from CNY 28,737,542.72 in Q1 2023[22]. - Research and development expenses were CNY 1,476,414.79, a decrease of 17.6% compared to CNY 1,791,989.02 in the same quarter last year[22]. - Financial expenses decreased by 86.8% to ¥935,926.19 due to significant exchange rate fluctuations in the previous year[12]. Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 36,559[14]. - The largest shareholder, Beijing Yongyu Investment Management Co., Ltd., holds 12.65% of shares, totaling 46,888,790 shares[14].