横店东磁(002056) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was CNY 423,346.80 million, a decrease of 8.59% compared to CNY 463,158.90 million in the same period last year[4] - Net profit attributable to shareholders was CNY 35,324.40 million, down 39.29% from CNY 58,288.51 million year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 33,483.94 million, a decline of 40.41% compared to CNY 56,265.26 million in the previous year[4] - The weighted average return on equity decreased to 3.85%, down 3.39 percentage points from 7.24% in the same period last year[4] - The company reported a total comprehensive income of CNY 336,814,499.36 for Q1 2024, compared to CNY 611,856,965.94 in Q1 2023, indicating a decline of 45.0%[20] - Basic earnings per share for Q1 2024 were CNY 0.2191, down from CNY 0.3615 in Q1 2023, a decrease of 39.2%[20] Cash Flow and Investments - Cash flow from operating activities was CNY 47,752.16 million, slightly down from CNY 49,857.49 million year-on-year[4] - Net cash flow from operating activities decreased by 4.22% to CNY 47,752.16 million, due to increased cash payments to employees and reduced tax refunds received[9] - Net cash flow from investing activities decreased by 897.99% to CNY -87,712.60 million, primarily due to increased term deposits for investment purposes[9] - Net cash flow from financing activities decreased by 121.75% to CNY -99,640.55 million, mainly due to an increase in the repayment of discounted notes[9] - The total cash and cash equivalents at the end of the period amounted to 3,778,680,507.26 CNY, down from 5,190,044,057.56 CNY at the beginning of the period, reflecting a net decrease of 1,411,363,550.30 CNY[23] - The cash outflow from financing activities totaled 2,151,330,196.07 CNY, compared to 944,801,874.62 CNY in the same period last year, showing a substantial increase[23] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,146,903.85 million, an increase from CNY 2,119,572.57 million at the end of the previous year[4] - The company’s total liabilities increased to ¥12,455,412,340.37 from ¥12,007,273,494.31, indicating a rise of approximately 3.7%[18] - The company’s retained earnings as of March 31, 2024, were ¥6,443,750,527.38, down from ¥6,719,344,141.15[18] Operational Costs and Expenses - The total operating costs for the current period were ¥3,933,528,332.69, slightly down from ¥3,961,892,451.80 in the previous period[18] - The company’s total operating costs increased to CNY 3,562,020,228.13 in Q1 2024 from CNY 3,491,592,663.28 in Q1 2023, an increase of 2.0%[19] - Sales expenses rose by 30.86% to CNY 7,438.77 million, driven by increased investment in sales team development and channel expansion[8] - R&D expenses decreased by 33.89% to CNY 16,605.43 million compared to CNY 25,119.16 million in the previous period[9] - Research and development expenses decreased to CNY 166,054,305.98 in Q1 2024 from CNY 251,191,626.15 in Q1 2023, a reduction of 33.9%[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10, with the largest shareholder holding 823,000,000 shares[11] - The company’s major shareholder, Hengdian Group Holdings Co., Ltd., holds a significant stake and is considered a related party[12] - The company has initiated a third employee stock ownership plan, with an estimated stock transfer of 14,307,852 shares, representing about 0.88% of the total share capital[14] - The company completed the initial grant of shares under the employee stock ownership plan, with 1,284,000 shares granted to 56 individuals[14] Other Income and Gains - Other income increased by 266.94% to CNY 1,600.72 million, primarily due to government subsidies received[9] - Investment income rose by 204.52% to CNY 722.50 million, attributed to increased foreign exchange settlement gains[9] Audit and Compliance - The company did not undergo an audit for the first quarter report, indicating that the figures presented are unaudited[24]