NSWRC(SH:600165)2024-04-30 13:28Financial Performance - The company's operating revenue for Q1 2024 was ¥53,896,659.24, representing a year-on-year increase of 16.89%[5] - The net profit attributable to shareholders was -¥51,454,550.60, indicating a significant loss[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥44,563,280.21[5] - The net cash flow from operating activities was -¥333,734.47, reflecting cash flow challenges[5] - The weighted average return on net assets was -36.202%, indicating a decline in profitability[5] - The net loss attributable to the parent company was CNY -1,046,177,792.36, worsening from CNY -994,723,241.77 in the previous period[22] - The net profit for Q1 2024 was -57,972,305.47 RMB, an improvement from -66,686,256.61 RMB in Q1 2023, representing a decrease in net loss of approximately 13%[24] - Operating profit for Q1 2024 was -53,772,402.75 RMB, compared to -66,667,320.60 RMB in the same period last year, indicating a reduction in operating loss of about 19%[24] - Total comprehensive income for Q1 2024 was -58,117,992.78 RMB, an improvement from -66,412,010.82 RMB in Q1 2023, reflecting a decrease in total comprehensive loss of approximately 12%[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,935,317,213.80, a decrease of 0.75% from the previous year[5] - The equity attributable to shareholders decreased by 30.74% to ¥116,259,504.86 compared to the end of the previous year[5] - Total assets as of March 31, 2024, were CNY 2,935,317,213.80, slightly down from CNY 2,957,514,548.54 at the end of 2023[22] - Current assets totaled CNY 202,100,530.36, a marginal increase from CNY 198,695,245.81 in December 2023[20] - The total liabilities increased to CNY 2,611,444,306.71 from CNY 2,575,523,648.67, representing a rise of 1.4%[21] Cash Flow - Cash flow from operating activities for Q1 2024 was -333,734.47 RMB, a significant improvement from -42,832,422.48 RMB in Q1 2023[27] - Cash flow from investing activities generated a net inflow of 1,772,700.25 RMB in Q1 2024, compared to a net outflow of -804,450.00 RMB in Q1 2023[28] - Cash flow from financing activities resulted in a net outflow of -4,250,879.04 RMB in Q1 2024, contrasting with a net inflow of 9,824,818.42 RMB in Q1 2023[28] Sales and Revenue - The increase in operating revenue was primarily due to increased sales volume from Huahui Environmental Protection[8] - The total operating revenue for Q1 2024 was CNY 53,896,659.24, an increase of 16.1% compared to CNY 46,109,368.75 in Q1 2023[23] - The total operating costs decreased to CNY 107,461,892.17 in Q1 2024 from CNY 115,018,464.73 in Q1 2023, reflecting a reduction of 6.8%[23] - The operating cost of goods sold was CNY 55,564,166.43, down from CNY 71,983,460.43, indicating a decrease of 22.7%[23] - The company reported sales revenue of 51,725,699.49 RMB in Q1 2024, an increase from 43,227,729.40 RMB in Q1 2023, marking a growth of approximately 19%[27] Company Challenges - The company has signed a cooperation agreement for financial assistance with the local government, which includes a financing guarantee of RMB 60 million for its subsidiary[14] - The company’s stock has been placed under risk warning due to continuous negative net profits over the past three years, with the latest audit report indicating uncertainty in the company's ability to continue operations[13] - The company has received a notice from the court regarding a restructuring application due to its inability to repay debts, which poses significant uncertainty for its future operations[15] - The company’s stock will face delisting risk as it has been placed under additional risk warnings following an audit report that expressed an inability to provide an opinion on the financial statements[16] - The company is under delisting risk warning from the Shanghai Stock Exchange effective April 30, 2024, due to financial conditions[17] - The company experienced a significant decrease in equity due to reduced net profit attributable to shareholders[8] - The company reported a non-recurring loss of -¥2,851,235.46 from the disposal of non-current assets[7] - The company’s subsidiary, Ningxia Zhongke Biological New Materials Co., Ltd., is currently in a temporary shutdown and is expected to be unable to resume normal operations within one month[12] Shareholder Information - The basic and diluted earnings per share for Q1 2024 were both -0.075 RMB, an improvement from -0.085 RMB in Q1 2023[24] - The total cash and cash equivalents at the end of Q1 2024 were 19,021,898.11 RMB, compared to 9,415,253.24 RMB at the end of Q1 2023, indicating an increase of approximately 102%[28] - The company reported cash and cash equivalents of CNY 21,587,451.13, down from CNY 24,399,349.84[19] - The company's long-term investments in equity were CNY 720,674,631.93, up from CNY 710,409,931.49[20] - The company experienced a decrease in other comprehensive income, with a net amount of -145,687.31 RMB in Q1 2024, compared to 274,245.79 RMB in Q1 2023[24]