Tianrun Industry(002283)2024-04-24 23:50Financial Performance - The company's revenue for Q1 2024 was ¥962,638,178.28, a decrease of 2.27% compared to ¥984,952,152.63 in the same period last year[5]. - Net profit attributable to shareholders was ¥92,526,108.61, down 11.80% from ¥104,904,685.84 year-on-year[5]. - Basic earnings per share decreased to ¥0.08, down 11.11% from ¥0.09 in the same period last year[5]. - The net profit for Q1 2024 was ¥92,151,714.75, a decrease of 11.5% compared to ¥104,674,820.98 in Q1 2023[27]. - Operating profit for Q1 2024 was ¥104,057,643.17, down from ¥115,250,676.11 in the same period last year, representing a decline of 9.5%[27]. - Total comprehensive income for Q1 2024 was ¥92,135,143.52, down from ¥104,683,354.14 in the previous year, a decrease of 11.9%[28]. Cash Flow and Investments - The net cash flow from operating activities was ¥41,646,712.64, representing a decline of 28.29% compared to ¥58,075,423.04 in the previous year[5]. - The company reported a decrease in cash and cash equivalents to ¥452,170,648.32 at the end of Q1 2024, down from ¥489,559,313.99 at the end of Q1 2023[31]. - The total cash outflow from investing activities was ¥316,070,418.40, an increase of 30.8% from ¥241,742,560.96 in Q1 2023[31]. - The net cash flow from investment activities was negative at -¥31,603.32 million, a decrease of ¥12,024.20 million compared to the previous year, mainly due to increased purchases of time deposits[13]. Expenses - The company reported a significant increase in sales expenses, which rose by 33.57% to ¥1,217.33 million due to higher sales incentives and after-sales service costs[11]. - Management expenses increased by 30.87% to ¥5,151.45 million, primarily due to the implementation of an employee stock ownership plan[11]. - Research and development expenses rose to ¥61,223,941.91, up from ¥58,628,589.33, indicating a growth of 2.7% year-over-year[27]. - The company incurred financial expenses of -¥5,033,737.11, a significant improvement compared to ¥3,171,706.12 in Q1 2023[27]. Assets and Liabilities - Total assets at the end of the reporting period were ¥8,505,094,916.51, an increase of 1.65% from ¥8,367,172,324.57 at the end of the previous year[5]. - The company's total current assets reached ¥5,013,915,924.41, up from ¥4,794,881,550.17 at the start of the period, reflecting a growth of approximately 4.5%[23]. - The total liabilities increased to ¥2,381,365,605.84 from ¥2,322,452,964.97, marking an increase of about 2.5%[24]. - The company's retained earnings reached ¥3,216,734,973.37, up from ¥3,124,208,864.76, indicating an increase of approximately 3%[24]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 41,419[15]. - The largest shareholder, Tianrun United Group, holds 15.36% of shares, amounting to 174,991,840 shares, with 112,500,000 shares pledged[15]. - The top ten shareholders collectively hold significant stakes, with the second-largest shareholder, Xing Yunbo, owning 11.89% or 135,528,925 shares[15]. - The employee stock ownership plan holds 1.88% of shares, totaling 21,404,388 shares[17]. - The total number of shares held by the top ten unrestricted shareholders is 174,991,840 shares, all of which are common shares[15]. - The company repurchased a total of 8,331,900 shares, accounting for 0.7312% of the total share capital, with a total transaction amount of ¥44,877,966.00[20]. Joint Ventures and Future Plans - The company established a joint venture with Handa Wandu (Suzhou) Automotive Parts Co., Ltd., with a registered capital of RMB 100 million, where Tianrun Industrial holds 60%[18]. - The company completed the registration of the joint venture on January 19, 2024, obtaining the business license from the local authority[19]. - The company plans to repurchase shares with a total amount not less than RMB 50 million and not exceeding RMB 100 million, at a price not exceeding RMB 9.42 per share[19].