NUG(600051)2024-04-24 10:09Financial Performance - The company's operating revenue for Q1 2024 was ¥199,522,591.21, representing a decrease of 73.36% compared to the same period last year[5]. - The net profit attributable to shareholders for Q1 2024 was ¥7,196,554.33, down 35.84% year-over-year[5]. - The basic earnings per share for Q1 2024 was ¥0.02, reflecting a decline of 50.00% compared to the previous year[5]. - Total revenue for Q1 2024 was CNY 199,522,591.21, a significant decrease of 73.32% compared to CNY 748,898,370.90 in Q1 2023[18]. - The total comprehensive income for Q1 2024 was -8,067,714.95 RMB, compared to -1,778,643.11 RMB in Q1 2023, indicating a worsening financial position[19]. - The net profit attributable to shareholders of the parent company was 7,196,554.33 RMB in Q1 2024, down from 11,216,057.02 RMB in Q1 2023, reflecting a decrease of approximately 35.0%[19]. - The basic and diluted earnings per share for Q1 2024 were both 0.02 RMB, down from 0.04 RMB in Q1 2023, reflecting a 50% decrease[19]. Operating Costs and Expenses - Total operating costs for Q1 2024 were CNY 203,867,238.30, down from CNY 750,090,033.74 in Q1 2023, reflecting a reduction of 72.85%[18]. - Operating profit for Q1 2024 was a loss of CNY 2,566,920.08, compared to a profit of CNY 6,531,243.68 in Q1 2023[18]. - The company incurred operating expenses of 553,628,031.98 RMB in Q1 2024, compared to 1,304,310,730.84 RMB in Q1 2023, showing a reduction in expenses[21]. Cash Flow and Assets - The net cash flow from operating activities was negative at -¥36,661,987.43, which is not applicable for year-over-year comparison[5]. - Cash and cash equivalents decreased to CNY 1,177,683,781.73 as of March 31, 2024, down from CNY 1,300,122,747.75 as of December 31, 2023, a decline of 9.39%[14]. - Cash and cash equivalents at the end of Q1 2024 stood at 1,142,186,316.32 RMB, compared to 1,105,486,591.71 RMB at the end of Q1 2023, indicating a slight increase[22]. - The cash flow from investment activities for Q1 2024 was 8,293,084.01 RMB, down from 28,416,883.11 RMB in Q1 2023, indicating a decline in investment returns[22]. Assets and Liabilities - The total assets at the end of Q1 2024 were ¥5,413,687,871.60, a decrease of 2.44% from the end of the previous year[6]. - Total current assets amounted to CNY 3,405,109,947.59, a decrease of 3.09% from CNY 3,513,747,574.84 at the end of 2023[14]. - Total non-current assets decreased to CNY 2,008,577,924.01 from CNY 2,035,090,705.44, reflecting a decline of 1.06%[15]. - Total liabilities decreased to CNY 1,741,683,896.38 from CNY 1,869,476,816.90, a reduction of 6.83%[16]. - Shareholders' equity totaled CNY 3,672,003,975.22, slightly down from CNY 3,679,361,463.38[16]. Shareholder Information - The top shareholder, Zhejiang Rongsheng Holding Group Co., Ltd., holds 29.08% of the shares, with 90,417,600 shares pledged[10]. Other Financial Metrics - The weighted average return on equity decreased by 0.12 percentage points to 0.22% at the end of the reporting period[6]. - Non-recurring losses totaled -¥2,660,144.28, influenced by various factors including asset disposal losses and fair value changes of financial assets[7]. - The company reported a significant decrease in the value of stocks held in other listed companies, contributing to the drop in net profit[8]. - The company reported a tax expense of 5,654,658.25 RMB in Q1 2024, compared to 8,836,881.66 RMB in Q1 2023, reflecting a decrease of approximately 36.8%[19]. - The decline in operating revenue was primarily due to a decrease in coal sales volume by the subsidiary Ningbo United Group Import and Export Co., Ltd.[7].