Arctech Solar(688408)2024-04-24 14:34Financial Performance - Basic earnings per share reached CNY 1.14, an increase of 293.10% compared to the previous period[4] - The net profit attributable to shareholders of the listed company was ¥153,995,532.83, marking a 297.18% increase year-over-year[40] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥142,726,249.84, reflecting an 882.32% increase compared to the same period last year[40] - The net profit for the first quarter of 2024 is CNY 146,546,212.38, an increase from CNY 40,396,981.26 in the same period last year, representing a growth of approximately 262.5%[51] - The total comprehensive income attributable to the parent company reached approximately 40.29 million in the previous period, showcasing significant growth[67] Revenue and Costs - The total operating revenue for Q1 2024 reached ¥1,814,204,889.13, representing a 122.47% increase compared to Q1 2023[28] - The total operating costs for Q1 2024 amounted to ¥1,622,004,963.62, up from ¥798,912,584.12 in Q1 2023[28] - Other income increased by ¥621.04 million, mainly due to government subsidies received[28] Assets and Liabilities - Total assets decreased by 5.79% to CNY 7,693,003,561.95 from CNY 8,165,398,710.15 at the end of the previous year[4] - Total liabilities decreased to CNY 4,751,597,310.40 from CNY 5,350,818,664.42[13] - The total current assets as of March 31, 2024, were CNY 6,232,783,712.07, a decrease from CNY 6,750,103,086.90 at the end of 2023[49] - The company reported a decrease in cash and cash equivalents to CNY 1,542,570,438.79 from CNY 1,953,605,382.77 at the end of 2023, a decline of approximately 21%[48] Equity and Shareholder Information - The company's equity attributable to shareholders increased by 4.96% to CNY 2,941,320,538.88 from CNY 2,802,439,772.91[4] - The company completed a share buyback of 1,260,000 shares, representing 0.93% of the total share capital, as of February 29, 2024[62] Research and Development - Research and development expenses totaled CNY 35,401,572.74, accounting for 1.95% of operating revenue, a decrease of 1.31 percentage points[4] - Research and development expenses for the first quarter of 2024 amounted to CNY 35,401,572.74, up from CNY 26,589,192.41 in the previous year, reflecting a growth of approximately 33.5%[51] Cash Flow - Cash flow from operating activities was CNY 1,632,506,192.42, compared to CNY 956,631,128.23 in the previous period[15] - The cash flow from operating activities showed a net outflow of ¥846,524,502.54, which is not applicable for year-over-year comparison[40] - The company's cash flow from financing activities for the first quarter of 2024 was CNY 518.17, primarily due to the optimization of bank loans[44] - The company's cash flow from financing activities showed a net inflow of approximately 51.30 million in the previous period, indicating strong financing activities[58] Borrowings and Financial Expenses - Short-term borrowings rose to CNY 782,759,961.05 from CNY 602,061,614.28, indicating increased leverage[13] - The financial expenses increased significantly, with a reported amount of ¥809.34 million, primarily due to increased interest expenses[28] - The company's short-term borrowings increased by 30.01%, primarily due to new loans taken during the period[58] Impairments and Other Financial Metrics - The company experienced a substantial asset impairment loss of ¥2,177.17 million, primarily due to changes in inventory[28] - The company's investment income for the first quarter of 2024 showed a loss of CNY 48,057.11, compared to a gain of CNY 639,348.57 in the previous year[51] - The accounts receivable financing saw a substantial increase of 138.12%, attributed to a higher volume of payments received in the form of promissory notes[58] - The company experienced a 39.51% decrease in trading financial assets, mainly due to changes in wealth management products and structured deposits[58] - The prepayments increased by 69.31%, driven by business expansion and advance payments for materials[58]