SHUANGYI TECH(300690)2024-04-19 11:18Financial Performance - The company's revenue for Q1 2024 was CNY 130,608,676.67, representing a 7.69% increase compared to CNY 121,287,392.71 in the same period last year[5] - Net profit attributable to shareholders decreased by 56.17% to CNY 3,021,090.24 from CNY 6,892,448.44 year-on-year[5] - Basic and diluted earnings per share decreased by 50.00% to CNY 0.02 from CNY 0.04 in the previous year[5] - Net profit for Q1 2024 was CNY 2,985,187.44, a decrease of 56.4% from CNY 6,844,651.52 in Q1 2023[22] - Earnings per share for Q1 2024 were CNY 0.02, down from CNY 0.04 in Q1 2023[23] - Total operating revenue for Q1 2024 was CNY 130,608,676.67, an increase of 7.3% compared to CNY 121,287,392.71 in Q1 2023[21] - Total operating costs for Q1 2024 were CNY 123,393,262.77, up from CNY 116,130,141.28 in the same period last year, reflecting a growth of 6.0%[21] Cash Flow - The net cash flow from operating activities fell by 42.90% to CNY 42,395,034.34, primarily due to increased cash payments for goods and services[9] - The net cash flow from operating activities for Q1 2024 was ¥42,395,034.34, a decrease of 42.9% compared to ¥74,253,077.85 in Q1 2023[26] - Cash received from sales of goods and services in Q1 2024 was CNY 249,057,516.50, a decrease of 7.8% compared to CNY 270,244,323.51 in Q1 2023[25] - The company reported a total cash inflow from operating activities of ¥258,707,603.81, compared to ¥279,550,092.57 in the previous year[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,791,723,499.09, a 0.60% increase from CNY 1,780,971,045.98 at the end of the previous year[5] - Total liabilities as of Q1 2024 were CNY 365,982,426.55, an increase from CNY 358,215,160.87 in Q1 2023[22] - Total current assets increased to CNY 1,219,265,317.08 from CNY 1,202,695,128.46, reflecting a growth of approximately 1.5%[17] - Cash and cash equivalents rose to CNY 314,194,103.10 from CNY 299,558,489.39, an increase of about 4.5%[17] - Accounts receivable decreased to CNY 311,119,164.86 from CNY 338,681,754.60, a decline of approximately 8.2%[17] - Total assets amounted to CNY 1,791,723,499.09, up from CNY 1,780,971,045.98, indicating a growth of about 0.6%[18] - Accounts payable increased to CNY 173,491,848.70 from CNY 149,552,123.27, reflecting a rise of approximately 16.0%[18] Investment Activities - The company reported a 63.48% increase in net cash flow from investing activities, attributed to reduced cash payments for fixed assets and intangible assets[9] - Total cash inflow from investment activities was ¥173,657,395.31, significantly higher than ¥84,867,734.41 in the same period last year[26] - The net cash flow from investment activities was -¥13,670,916.96, an improvement from -¥37,437,586.22 in Q1 2023[26] Other Financial Metrics - The company experienced a 32.81% increase in taxes and surcharges compared to the same period last year, mainly due to higher urban construction tax and education fees[11] - Investment income decreased by 2193.18% year-on-year, primarily due to increased realized investment losses from Hainan Shuangyi Hengrun[11] - Research and development expenses for Q1 2024 were CNY 4,363,579.26, down from CNY 5,133,318.39 in Q1 2023, indicating a reduction of 15.0%[22] - The company reported a financial expense of CNY -1,049,823.30 in Q1 2024, compared to CNY 892,488.96 in Q1 2023, indicating a significant change in financial performance[22] Company Strategy and Governance - The company plans to maintain its focus on expanding its market presence and enhancing product development strategies[15] - The company reported a total of 55,683,461.0 shares under lock-up agreements, with 75% of shares held by directors and senior management locked annually[14] - The company did not undergo an audit for the Q1 2024 report[27] - The new accounting standards were not applicable for the company in 2024[27]