龙津药业(002750) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was ¥26,388,422.34, representing a 22.43% increase compared to ¥21,553,840.94 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥4,491,776.72, an improvement of 44.66% from a loss of ¥8,117,275.16 in the previous year[4] - The net loss attributable to the parent company was reduced by 61.74% to ¥3,105,602.00 from ¥8,117,275.16 in the same period last year[9] - Net loss for Q1 2024 was CNY 5,566,204.56, an improvement from a net loss of CNY 9,414,778.99 in Q1 2023, indicating a reduction in losses by approximately 40.5%[21] - The company reported a basic and diluted earnings per share of -0.0112 for Q1 2024, an improvement from -0.0203 in Q1 2023[22] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, with a net outflow of ¥4,764,302.80, a reduction of 87.59% compared to a net outflow of ¥38,395,753.41 last year[4] - The company's cash and cash equivalents decreased by 38.48% to ¥129,653,449.82 from ¥210,737,426.26 due to changes in cash management products[9] - The company's cash flow from operating activities showed a significant improvement, with a reduction in cash outflow compared to the previous quarter[22] - The total cash outflow from operating activities was 30,035,289.88 CNY, down from 66,951,138.63 CNY, showing a reduction in cash outflows[23] - The ending balance of cash and cash equivalents decreased to 129,653,249.19 CNY from 143,554,364.11 CNY, a decline of 9.6%[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥641,276,844.03, reflecting a 1.53% increase from ¥631,634,251.67 at the end of the previous year[4] - The total current assets increased from CNY 384.06 million to CNY 393.64 million, an increase of about 2%[16] - Total liabilities rose to CNY 105,716,563.79 in Q1 2024, up from CNY 90,507,766.87 in Q1 2023, representing an increase of 16.8%[18] - The total equity attributable to shareholders decreased to CNY 507,395,172.08 in Q1 2024 from CNY 511,886,948.80 in Q1 2023, a decline of 0.9%[18] Operational Metrics - Accounts receivable increased by 55.98% to ¥18,915,136.60, driven by revenue growth in the current period[9] - The inventory decreased from CNY 28.65 million to CNY 26.43 million, a reduction of about 7.7%[16] - Total operating costs for Q1 2024 were CNY 33,756,765.30, up from CNY 32,031,811.64 in the same period last year, reflecting a year-over-year increase of 5.4%[20] - The cash inflow from sales of goods and services was 21,710,973.97 CNY, down from 26,559,717.08 CNY, representing a decrease of 18.4%[23] - Payments to employees increased to 10,302,516.84 CNY from 9,319,478.29 CNY, reflecting an increase of 10.6% in labor costs[23] Research and Development - Research and development expenses decreased by 51.58% to ¥1,992,368.82, reflecting a reduction based on project progress[9] - Research and development expenses for Q1 2024 were CNY 1,992,368.82, down from CNY 4,114,891.99 in Q1 2023, indicating a decrease of 51.6%[20] Financing Activities - The company obtained short-term bank loans, resulting in a net cash inflow from financing activities of ¥9,980,000.00[9] - Cash inflow from financing activities was 9,980,000.00 CNY, with no inflows recorded in the previous period, indicating new financing efforts[25] Market and Product Insights - The core product, the injection of light orchid flower extract, has seen a price drop of 67% compared to pre-bid procurement prices due to centralized procurement policies[12] - The company is currently facing risks related to the decline in sales volume and pricing of its core products due to centralized procurement execution[12] - The company has received a total of CNY 4 million in performance compensation from the original shareholders of its subsidiary, which will positively impact the 2024 profit[14] - The company has actively communicated with the original shareholders of its subsidiary to ensure compliance with performance commitments[14] - The company plans to focus on market expansion and new product development in the upcoming quarters to enhance revenue growth[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 56,743[11] - The company holds 39.40% of its shares through Kunming Qunxing Investment Co., Ltd., which is the largest shareholder[11] Audit Status - The company has not undergone an audit for the first quarter report, indicating that the financial results are unaudited[26]