Shede Spirits (600702)2025-04-25 09:30Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,576,125,553.23, a decrease of 25.14% compared to CNY 2,105,431,909.47 in the same period last year[4] - Net profit attributable to shareholders decreased by 37.10% to CNY 346,120,296.79 from CNY 550,283,251.89 year-on-year[4] - Basic earnings per share fell by 36.38% to CNY 1.0582, down from CNY 1.6632 in the previous year[4] - Total operating revenue for Q1 2025 was approximately ¥1.58 billion, a decrease of 25% compared to ¥2.11 billion in Q1 2024[20] - Net profit for Q1 2025 was approximately ¥345.33 million, a decline of 37% from ¥549.39 million in Q1 2024[21] - Operating profit for Q1 2025 was approximately ¥460.70 million, down 37% from ¥728.27 million in Q1 2024[21] - Basic earnings per share for Q1 2025 were ¥1.0582, compared to ¥1.6632 in Q1 2024, reflecting a decrease of 36%[22] Cash Flow and Assets - The net cash flow from operating activities increased by 106.76% to CNY 224,160,077.90, compared to CNY 108,416,360.91 in the same period last year[4] - Cash flow from operating activities for Q1 2025 was approximately ¥224.16 million, an increase from ¥108.42 million in Q1 2024[25] - Cash and cash equivalents at the end of Q1 2025 were approximately ¥1.40 billion, down from ¥2.68 billion at the end of Q1 2024[25] - Investment activities resulted in a net cash outflow of approximately ¥362.19 million in Q1 2025, compared to a net inflow of ¥264.27 million in Q1 2024[25] - Financing activities generated a net cash inflow of approximately ¥135.12 million in Q1 2025, compared to ¥125.39 million in Q1 2024[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,178,745,895.72, reflecting a 3.19% increase from CNY 11,802,108,893.04 at the end of the previous year[4] - The company's current assets totaled RMB 7.68 billion, up from RMB 7.44 billion at the end of 2024, indicating a growth of approximately 3.25%[15] - Inventory as of March 31, 2025, was RMB 5.35 billion, compared to RMB 5.22 billion at the end of 2024, reflecting an increase of about 2.5%[15] - The company's total liabilities were RMB 4.76 billion, slightly up from RMB 4.67 billion at the end of 2024[17] - The company's equity attributable to shareholders reached RMB 7.10 billion, an increase from RMB 6.81 billion at the end of 2024, representing a growth of approximately 4.25%[17] Shareholder Information - The company had a total of 130,627 common shareholders at the end of the reporting period[8] - The largest shareholder, Sichuan Tuopai Shede Group Co., Ltd., held 100,695,768 shares, accounting for 30.23% of the total shares[9] Share Buyback and Incentives - The company completed a share buyback of 1,671,994 shares, accounting for 0.50% of the total share capital, with a total expenditure of approximately RMB 100 million[11] - The highest buyback price was RMB 81.23 per share, while the lowest was RMB 52.41 per share, with an average buyback price of RMB 59.83 per share[11] - The company plans to implement an employee stock ownership plan through the share buyback, with a total budget between RMB 100 million and RMB 200 million[10] - The company has initiated a restricted stock incentive plan, which was approved by the board on March 27, 2025[12] Non-Recurring Items - The company reported non-recurring gains and losses totaling CNY 2,801,092.99 for the period[6] - The decline in net profit was primarily attributed to the decrease in operating revenue[6] Return on Equity - The weighted average return on equity decreased by 2.21 percentage points to 4.80% from 7.01% year-on-year[4] Accounts Receivable - The company reported an increase in accounts receivable to RMB 241.65 million from RMB 236.29 million, indicating a growth of approximately 2%[15] Tax Expenses - The company reported a decrease in tax expenses for Q1 2025, amounting to approximately ¥116.96 million, down from ¥182.05 million in Q1 2024[21]