新纶新材(002341) - 2024 Q1 - 季度财报

Report Overview Important Notice This report includes guarantees from the board, supervisory board, and senior management on information disclosure, and statements from key financial officers on financial data accuracy - The board of directors, supervisory board, and directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, with no false records, misleading statements, or major omissions, and assume individual and joint legal responsibility[3] - The company's head, chief accountant, and head of the accounting department declare: they guarantee the truthfulness, accuracy, and completeness of the financial information in the quarterly report[3] Audit Status This quarterly report is unaudited - The first quarterly report is unaudited[4][22] Key Financial Data Key Accounting Data and Financial Indicators The company's Q1 2024 operating revenue decreased by 32.57% year-over-year, but net loss attributable to shareholders narrowed by 14.68%, with operating cash flow increasing by 40.59% 2024 Q1 Key Accounting Data and Financial Indicators | Indicator | Current Period (CNY) | Prior Year Period (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 102,995,792.86 | 152,739,156.80 | -32.57% | | Net Profit Attributable to Shareholders of Listed Company | -80,559,177.22 | -94,421,138.02 | 14.68% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | -84,607,563.98 | -98,466,021.89 | 14.07% | | Net Cash Flow from Operating Activities | 15,466,072.67 | 11,000,711.53 | 40.59% | | Basic Earnings Per Share | -0.0699 | -0.0819 | 14.65% | | Diluted Earnings Per Share | -0.0699 | -0.0819 | 14.65% | | Weighted Average Return on Net Assets | -8.53% | -7.39% | -1.14% | | Period-end Indicators | Current Period-end (CNY) | Prior Year-end (CNY) | Change (%) | | Total Assets | 3,797,709,402.04 | 3,955,268,091.81 | -3.98% | | Owners' Equity Attributable to Shareholders of Listed Company | 134,875,559.12 | 245,568,734.71 | -45.08% | Non-recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for this period amounted to CNY 4,048,386.76, primarily from government subsidies and investment income, positively impacting net profit 2024 Q1 Non-recurring Gains and Losses Items | Item | Current Period Amount (CNY) | | :--- | :--- | | Government subsidies included in current profit and loss | 4,300,481.11 | | Income from investment cost less than fair value of identifiable net assets of investee | 551,827.36 | | Other non-operating income and expenses apart from the above | -89,500.52 | | Less: Income tax impact | 714,421.19 | | Total | 4,048,386.76 | Analysis of Financial Indicator Changes Company financial indicator changes are mainly influenced by business focus, enhanced cost management, and specific transactions like debt restructuring and lease terminations, with new materials business expected to grow - The company secured a major supply share in a bid for aluminum-plastic film products from a leading domestic new energy vehicle manufacturer B at the end of Q1, anticipating continuous growth in new materials business shipments[8] Balance Sheet Item Changes Balance sheet changes primarily reflect a 195.36% increase in financing receivables (bill discounting), significant decreases in other current assets and right-of-use assets due to tax deductions and lease terminations, and fluctuations in contract liabilities and lease liabilities Balance Sheet Item Changes | Item | Period-end or Current Period Amount (CNY) | Year-start or Prior Year Period Amount (CNY) | Change Rate | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Financing Receivables | 12,779,314.25 | 4,326,756.33 | 195.36% | Primarily due to subsidiary bill discounting | | Other Current Assets | 1,824,607.33 | 6,397,112.79 | -71.48% | Primarily due to deductible input VAT at year-start | | Right-of-use Assets | 17,720,480.40 | 32,071,655.71 | -44.75% | Primarily due to subsidiary lease termination | | Contract Liabilities | 15,298,981.75 | 10,466,724.63 | 46.17% | Primarily due to advance receipts for goods | | Lease Liabilities | 18,740,910.36 | 29,436,412.15 | -36.33% | Primarily due to subsidiary lease termination | Income Statement Item Changes Income statement changes show a 32.57% decrease in total operating revenue due to business focus, with corresponding drops in operating costs and taxes; investment income significantly increased by 606.20% from debt restructuring, while credit impairment losses rose by 488.87% due to increased bad debt provisions, and income tax expense surged from deferred tax recognition Income Statement Item Changes | Item | Period-end or Current Period Amount (CNY thousands) | Year-start or Prior Year Period Amount (CNY thousands) | Change Rate | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 10,299.58 | 15,273.92 | -32.57% | Primarily due to company's new materials business focus and reduction in non-materials business scale | | Operating Cost | 7,991.73 | 13,854.29 | -42.32% | Primarily due to decrease in operating revenue | | Taxes and Surcharges | 254.98 | 425.77 | -40.11% | Primarily due to decrease in operating revenue | | Investment Income | 55.18 | 7.81 | 606.20% | Primarily due to debt restructuring gains in current period | | Credit Impairment Losses | -539.81 | -91.67 | -488.87% | Primarily due to increased provision for bad debts in current period | | Asset Disposal Income | -70.24 | 25.14 | -379.40% | Primarily due to disposal of some machinery and equipment in die-cutting business in current period | | Non-operating Income | 6.98 | 56.41 | -87.62% | Primarily due to more unpayable accounts payable cleared in prior period | | Non-operating Expenses | 15.93 | 80.74 | -80.27% | Primarily due to higher investor litigation compensation recognized in prior period | | Income Tax Expense | -1,122.94 | -314.41 | -257.16% | Primarily due to deferred income tax expense recognized in current period | Cash Flow Statement Item Changes Cash flow statement changes indicate a 40.59% year-over-year increase in net cash flow from operating activities due to improved cost management, a 165.00% decrease in net cash flow from investing activities due to higher investment recovery in the prior year, and a 41.92% improvement in net cash flow from financing activities due to reduced indirect financing Cash Flow Statement Item Changes | Item | Period-end or Current Period Amount (CNY) | Year-start or Prior Year Period Amount (CNY) | Change Rate | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 15,466,072.67 | 11,000,711.53 | 40.59% | Primarily due to strengthened cost and expense management, leading to reduced operating cash outflows and increased net operating cash flow compared to prior period | | Net Cash Flow from Investing Activities | -2,078,489.05 | -784,338.62 | -165.00% | Primarily due to higher investment recovery in the prior period, resulting in higher net cash flow in the prior period | | Net Cash Flow from Financing Activities | -13,205,176.03 | -22,737,8