SHGBIT(603918)2024-04-25 10:28Financial Performance - The company's operating revenue for Q1 2024 was ¥61,674,701.59, representing a decrease of 64.31% compared to the same period last year[3]. - The net profit attributable to shareholders was a loss of ¥30,327,815.51, a decline of 771.03% year-on-year[3]. - The total comprehensive income for Q1 2024 was a loss of ¥30,891,217.37, compared to a gain of ¥3,236,379.56 in Q1 2023[19]. - Net profit for Q1 2024 was a loss of ¥30,889,711.69, compared to a profit of ¥3,338,822.97 in Q1 2023, representing a significant decline[18]. - Total revenue for Q1 2024 was CNY 51,745,594.76, a decrease of 66.1% compared to CNY 153,047,291.98 in Q1 2023[27]. - Operating profit for Q1 2024 was a loss of CNY 17,242,060.42, compared to a profit of CNY 8,831,494.16 in Q1 2023[27]. - Net profit for Q1 2024 was a loss of CNY 15,615,094.84, compared to a profit of CNY 7,591,111.28 in Q1 2023[28]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥77,884,429.91, indicating a significant cash outflow[3]. - The net cash flow from operating activities for Q1 2024 was a negative ¥77,884,429.91, worsening from a negative ¥66,377,141.33 in Q1 2023[21]. - The net cash flow from operating activities was -57.72 million in the previous year, indicating a decline in operational cash generation[31]. - The net increase in cash and cash equivalents for the quarter was -213.79 million in the same quarter last year, showing a reduced cash burn[31]. - Cash inflow from operating activities totaled 126.39 million in the previous year, indicating a decrease in operational revenue[31]. - The ending balance of cash and cash equivalents was 261.71 million year-over-year, reflecting improved liquidity[31]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,560,797,067.13, down 5.79% from the end of the previous year[3]. - Total assets as of March 31, 2024, were CNY 1,399,945,653.07, down from CNY 1,462,348,553.22 as of December 31, 2023[25]. - Total liabilities decreased to RMB 473,458,299.47 from RMB 538,428,140.08, a decline of about 12.1%[14]. - Total liabilities as of March 31, 2024, were CNY 366,207,639.68, a decrease from CNY 412,995,444.99 as of December 31, 2023[25]. - Current assets totaled CNY 1,070,042,367.88 as of March 31, 2024, down from CNY 1,139,754,730.47 as of December 31, 2023[24]. Shareholder Information - Shareholders' equity attributable to the company was ¥1,090,168,165.26, a decrease of 2.71% from the previous year[3]. - The total number of ordinary shareholders at the end of the reporting period was 83,329[7]. Operational Insights - The decline in revenue was attributed to fewer project completions in Q1 compared to the previous year, leading to a significant drop in income[5]. - The company is increasing strategic investments to capture opportunities in the domestic market and emerging business sectors[5]. - The company has not reported any significant new product launches or market expansions during this quarter[10]. Expenses - Total operating costs for Q1 2024 were ¥99,070,494.50, down 40.0% from ¥165,013,400.74 in Q1 2023[17]. - Research and development expenses for Q1 2024 were ¥8,031,502.64, slightly up from ¥7,863,356.40 in Q1 2023[17]. - Sales expenses increased to ¥36,932,225.90 in Q1 2024 from ¥31,504,901.10 in Q1 2023, reflecting a rise of 17.4%[17]. - The company reported a decrease in net profit, with undistributed profits falling to RMB 317,272,783.09 from RMB 347,600,598.60, a decline of about 8.7%[14]. Investment Activities - Investment activities resulted in a net cash outflow of ¥60,417,995.47 in Q1 2024, compared to a net outflow of ¥174,053,500.30 in Q1 2023[21]. - The company has invested RMB 44,387,470.47 in development expenditures, up from RMB 30,120,308.67, indicating an increase of approximately 47.5%[13]. Accounting and Management - The company is not applying new accounting standards for the current fiscal year, maintaining consistency in financial reporting[32]. - The company’s management remains focused on improving cash flow and operational efficiency in the upcoming quarters[31].