BOCO(SH:600289)2024-04-29 15:06Financial Performance - The company's operating revenue for Q1 2024 was ¥49,060,459.41, representing a year-on-year increase of 1.88%[6] - The net profit attributable to shareholders was -¥14,473,580.27, indicating a loss compared to the previous year[6] - The net cash flow from operating activities was -¥17,411,935.35, showing a negative cash flow situation[6] - The company reported a net loss of CNY 2,195,870,265.21 for Q1 2024, compared to a net loss of CNY 2,181,396,684.94 in Q1 2023[17] - The net profit for Q1 2024 was -14,503,780.06 RMB, compared to -49,352,281.13 RMB in Q1 2023, showing an improvement[21] - The total comprehensive income for Q1 2024 was -14,503,649.83 RMB, compared to -49,353,739.01 RMB in Q1 2023, indicating a significant reduction in losses[22] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥1,219,147,563.32, a decrease of 2.38% from the end of the previous year[7] - Total assets as of March 31, 2024, amounted to CNY 1,219,147,563.32, down from CNY 1,248,919,835.13 at the end of 2023, a decline of about 2.4%[17] - Total liabilities decreased to CNY 815,773,335.90 as of March 31, 2024, from CNY 831,041,957.88 at the end of 2023, a reduction of approximately 1.8%[16] - The company's total equity as of March 31, 2024, was CNY 403,374,227.42, down from CNY 417,877,877.25 at the end of 2023, a decrease of about 3.5%[17] Shareholder Information - The total number of common shareholders at the end of the reporting period was 22,242[11] - The largest shareholder, Yiyang Group Co., Ltd., held 32.89% of the shares, with 64,459,419 shares frozen[11] Cost Management - Total operating costs decreased significantly to CNY 64,336,710.86 in Q1 2024 from CNY 98,715,435.95 in Q1 2023, a reduction of approximately 34.6%[20] - Research and development expenses for Q1 2024 were CNY 13,077,096.95, down from CNY 22,258,426.72 in Q1 2023, indicating a decrease of about 41.2%[20] - Operating expenses for Q1 2024 included 50,335,523.63 RMB paid to employees, down from 101,711,021.00 RMB in Q1 2023, reflecting a reduction of approximately 50.6%[26] - The company incurred other operating expenses totaling 11,946,087.33 RMB in Q1 2024, compared to 36,540,331.77 RMB in Q1 2023, a decrease of about 67.3%[26] Cash Flow - Cash and cash equivalents as of March 31, 2024, were CNY 667,278,769.91, slightly down from CNY 686,136,387.85 as of December 31, 2023, a decrease of approximately 2.5%[14] - Cash and cash equivalents decreased by 18,747,946.34 RMB in Q1 2024, compared to a decrease of 79,120,449.24 RMB in Q1 2023[26] Other Information - The company reported non-recurring gains and losses totaling ¥288,818.26 for the period[9] - The company has not disclosed any new product developments or market expansion strategies in the current report[20] - The company did not report any new product launches or significant market expansions during this quarter[27] - The company plans to focus on reducing management and research expenses to improve profitability in the future[9] - The weighted average return on net assets was -3.4755%, an increase of 0.1086 percentage points year-on-year[6] - The company reported an asset disposal loss of 258.58 RMB in Q1 2024, while the previous year had a gain of 70,091.32 RMB[21] - The total revenue from operating activities decreased to 54,746,207.31 RMB in Q1 2024, down from 79,427,248.53 RMB in Q1 2023, representing a decline of approximately 30.9%[25] - The basic and diluted earnings per share for Q1 2024 were both -0.0229 RMB, compared to -0.0781 RMB in Q1 2023[22] - Accounts receivable as of March 31, 2024, were CNY 91,273,859.81, slightly down from CNY 92,223,302.65 as of December 31, 2023, a decrease of about 1.0%[15]