TCKG(SH:600112)2024-04-29 14:51Financial Performance - The company's operating revenue for Q1 2024 was CNY 20,375,557.29, representing a decrease of 33.83% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of CNY 30,522,737.46, a decline of 16.87% year-on-year[6]. - The net cash flow from operating activities was negative CNY 2,211,698.96, an increase in outflow of 73.35% compared to the previous year[6]. - Total operating revenue for Q1 2024 was ¥20,375,557.29, a decrease of 33.7% compared to ¥30,791,622.86 in Q1 2023[23]. - Net loss for Q1 2024 was ¥30,269,612.75, compared to a net loss of ¥25,903,132.49 in Q1 2023, indicating a worsening of 16.5%[24]. - The company's total liabilities increased to ¥1,363,033,995.36 in Q1 2024 from ¥1,351,845,255.55 in Q1 2023, reflecting a growth of 0.8%[20]. - The company's total equity as of Q1 2024 was -¥190,457,049.81, compared to -¥160,187,437.06 in Q1 2023, indicating a decline in equity[20]. - Basic and diluted earnings per share were both negative CNY 0.0599, reflecting a decrease of 16.76% year-on-year[6]. - Basic and diluted earnings per share for Q1 2024 were both -¥0.0599, compared to -¥0.0513 in Q1 2023, reflecting a decrease in earnings[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,172,576,945.55, down 1.60% from the end of the previous year[7]. - The equity attributable to shareholders was negative CNY 206,589,025.60, a decrease of 17.34% compared to the previous year[7]. - As of March 31, 2024, the total assets of Guizhou Changzheng Tiancai Holdings Co., Ltd. amounted to RMB 1,172,576,945.55, a decrease from RMB 1,191,657,818.49 as of December 31, 2023, reflecting a decline of approximately 1.6%[17]. - The company's current assets totaled RMB 155,996,156.34, down from RMB 172,802,497.39, indicating a decrease of about 9.7%[18]. - The company's total cash and cash equivalents at the end of the period were 6,696,283.08, down from 4,827,186.98 year-over-year[29]. Cash Flow - Cash received from sales of goods and services in Q1 2024 was ¥30,031,053.76, down from ¥35,254,725.32 in Q1 2023, a decline of 15.5%[27]. - The company's cash flow from operating activities decreased by 15.5% year-over-year, indicating challenges in cash generation[27]. - The net cash flow from operating activities was -2,211,698.96, an improvement from -8,298,113.25 in the previous year[28]. - Cash inflow from financing activities totaled 7,000,000.00, down from 13,000,000.00 year-over-year[29]. - The company reported a total cash outflow from operating activities of 32,975,798.27, compared to 43,937,042.83 in the previous year[28]. - The cash outflow for taxes paid was 754,434.16, down from 1,857,065.40 year-over-year[28]. Operational Challenges - The company reported a significant increase in accounts receivable by 121.55%, primarily due to an increase in endorsed but unexpired bank acceptance bills[9]. - Sales expenses increased by 109.83%, attributed to higher market investment[9]. - The company recorded a loss of CNY 8,362,796.79 in non-recurring gains and losses for the period[9]. - The company is involved in 103 ongoing litigation and arbitration cases, with a total amount involved of RMB 132,510.50 million, of which 90 cases remain unresolved, totaling RMB 131,963.60 million[13]. - As of March 31, 2024, the company has assets worth RMB 76,189.59 million that are frozen or seized, representing 63.94% of the latest audited total assets[14]. - The company reported a total of RMB 54,525.98 million in funds occupied by the former major shareholder, with a remaining balance of RMB 28,814.51 million, and total illegal guarantees amounting to RMB 45,133 million, with a remaining balance of RMB 7,925 million[16]. - The company is actively working on debt restructuring and asset disposal to address financial challenges and mitigate risks associated with litigation and asset seizures[15]. - The company is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws, with the investigation ongoing as of the report date[15]. - The company plans to maintain transparency and timely disclosure of information regarding the progress of litigation and investigations to protect shareholder interests[16]. Research and Development - Research and development expenses for Q1 2024 were ¥563,269.75, a decrease of 17.0% from ¥678,367.92 in Q1 2023[24].