Financial Performance - The company's operating revenue for the first quarter reached 111,982,174.30 CNY, representing a 120.89% increase compared to the same period last year, driven by a 100% increase in new energy product revenue and a 282.21% increase in aluminum ingot revenue[10]. - The net profit for the quarter was -9,025,719.15 CNY, a decrease of 152.40% year-on-year, primarily due to a reduction in gross profit and an increase in period expenses[11]. - Total operating revenue for Q1 2024 reached ¥111,982,174.30, a significant increase from ¥50,695,689.93 in Q1 2023[23]. - The company reported a net comprehensive loss attributable to the parent company of ¥9,025,719.15 for Q1 2024, compared to a loss of ¥3,575,963.44 in Q1 2023[24]. - Basic and diluted earnings per share for Q1 2024 were both -¥0.07, compared to -¥0.03 in Q1 2023[24]. - The company reported a net loss of ¥9,091,156.34 after deducting non-recurring gains and losses, which is a 123.65% increase in loss from ¥4,064,815.07 in the previous year[46]. Expenses and Costs - Total operating costs for Q1 2024 were ¥122,537,680.53, compared to ¥55,530,307.53 in Q1 2023, indicating a rise in expenses[23]. - Research and development expenses increased by 152.37% to 3,913,715.26 CNY, reflecting the company's intensified focus on new energy product development[11]. - The company’s sales expenses increased by 39.73% to 986,066.48 CNY, driven by the growth in new energy product sales and related market development costs[11]. - The company reported a significant increase in financial expenses, which surged by 613.22% to 1,477,474.68 CNY, largely due to new financing costs related to leasing[11]. Cash Flow and Assets - The company's cash flow from operating activities was 3,571,822.71 CNY, a 30.88% increase year-on-year, attributed to the receipt of returned equipment deposits[12]. - The cash inflow from operating activities totaled ¥112,336,144.67 in Q1 2024, compared to ¥47,307,032.08 in Q1 2023[45]. - The cash flow from investing activities was -14,972,107.94 CNY, a decrease of 128.94% year-on-year, mainly due to increased cash payments for fixed asset purchases[12]. - Cash and cash equivalents at the end of the period amounted to ¥77,456,024.82, down from the beginning balance of ¥81,485,101.72[42]. - Total assets as of March 31, 2024, amounted to ¥585,184,249.45, an increase from ¥526,744,730.17 as of December 31, 2023[22]. - Current assets totaled ¥247,230,365.05 as of March 31, 2024, slightly down from ¥249,179,159.34 at the end of 2023[21]. Liabilities and Equity - The total liabilities for the company increased significantly, with non-current liabilities due within one year rising by 148.44% to 48,230,160.10 CNY, primarily due to an increase in lease liabilities[10]. - Current liabilities increased to ¥255,387,957.89 as of March 31, 2024, compared to ¥207,810,412.43 at the end of 2023[22]. - Non-current liabilities totaled ¥101,786,369.54 as of March 31, 2024, up from ¥81,898,676.57 at the end of 2023[22]. - Total liabilities reached ¥357,174,327.43, while total equity stood at ¥289,709,089.00, indicating a solid financial position[40]. - The debt-to-asset ratio for the consolidated entity was 61.04%, up from 55.00% at the end of the previous year[46]. Shareholder Information - The total number of shareholders holding more than 5% of shares is 10, with the largest shareholder holding 14.82%[33]. - The company had a total of 99,053,253 unrestricted shares at the end of the reporting period, a decrease of 178,750 shares from the beginning of the period[47]. - The company’s core employee shares increased by 166,524 to a total of 1,256,882 shares, representing 0.93% of the total share structure[47]. - The company has no shares under pledge or judicial freeze among major shareholders[35]. Other Financial Matters - The company is currently facing asset seizures and has disclosed this in its announcements[18]. - The total amount of litigation and arbitration as a plaintiff is ¥6,094,753.06, accounting for 2.67% of the net assets at the end of the reporting period[37]. - Non-operating income and expenses resulted in a net non-recurring profit of ¥65,437.19, after accounting for government subsidies and other income[32]. - Accounts receivable financing increased by 66.89% to ¥5,502,049.55, primarily due to higher customer repayments during the reporting period[29]. - Construction in progress rose by 39.78% to ¥10,906,554.46, mainly attributed to the installation and debugging of new energy product investment equipment[29]. - Right-of-use assets surged by 86.15% to ¥128,848,324.29, reflecting the addition of equipment financing lease business during the reporting period[29].
华阳变速(839946) - 2024 Q1 - 季度财报