ZTT(SH:600522)2024-04-25 12:44Financial Performance - The company's operating revenue for Q1 2024 was CNY 8,242,066,930.57, representing a decrease of 0.40% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 636,050,562.61, down 17.20% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 495,578,126.91, a decrease of 7.32% compared to the previous year[4] - The basic earnings per share for the period was CNY 0.187, reflecting a decline of 16.83% year-on-year[4] - Total operating revenue for Q1 2024 was CNY 8,242,066,930.57, a slight decrease of 0.4% compared to CNY 8,275,054,175.86 in Q1 2023[19] - Net profit for Q1 2024 was CNY 632,337,701.66, down 20.4% from CNY 794,262,386.37 in Q1 2023[20] - Earnings per share (EPS) for Q1 2024 was CNY 0.187, compared to CNY 0.225 in Q1 2023, reflecting a decrease of 16.9%[21] Assets and Liabilities - Total assets at the end of the reporting period were CNY 54,000,353,802.32, a decrease of 1.33% from the end of the previous year[4] - As of March 31, 2024, the total assets of Jiangsu Zhongtian Technology Co., Ltd. amounted to RMB 54,000,353,802.32, a decrease from RMB 54,730,839,119.86 at the end of 2023[15] - The company's cash and cash equivalents decreased to RMB 12,936,633,905.61 from RMB 15,497,312,682.27, reflecting a decline of approximately 16.5%[15] - Accounts receivable increased to RMB 14,009,672,344.44, up from RMB 13,553,276,471.65, indicating a growth of about 3.4%[15] - Inventory rose significantly to RMB 6,358,727,142.38, compared to RMB 5,107,342,741.52, representing an increase of approximately 24.5%[15] - The company's total liabilities decreased to CNY 19,369,627,289.21 from CNY 20,104,001,126.61 year-over-year, a reduction of 3.7%[20] - Total current liabilities decreased from RMB 17,661,650,382.03 to RMB 17,249,812,552.87, indicating a reduction of approximately 2.3%[16] - Non-current liabilities decreased from RMB 1,369,923,415.28 to RMB 1,142,092,613.69, reflecting a decline of about 16.6%[16] Cash Flow - The company's cash flow from operating activities was negative at CNY -1,559,488,209.15, indicating a significant cash outflow[4] - In Q1 2024, Jiangsu Zhongtian Technology Co., Ltd. reported cash inflows from operating activities of approximately ¥8.41 billion, an increase of 7.1% compared to ¥7.85 billion in Q1 2023[23] - The net cash flow from operating activities for Q1 2024 was -¥1.56 billion, worsening from -¥521.36 million in Q1 2023[23] - Cash inflows from financing activities were approximately ¥974.76 million, up from ¥626.97 million in Q1 2023[24] - The net cash flow from financing activities was -¥941.64 million, compared to -¥121.83 million in Q1 2023, indicating increased cash outflows[24] - The company experienced a net decrease in cash and cash equivalents of approximately ¥2.63 billion in Q1 2024, compared to a decrease of ¥1.22 billion in Q1 2023[24] Investments and Expenses - Research and development expenses rose to CNY 407,810,433.33, an increase of 20.6% from CNY 338,107,805.67 in Q1 2023[20] - The company reported investment income of CNY 299,363,538.17, a substantial increase from CNY 32,789,918.98 in the previous year[20] - Cash outflows from investing activities totaled approximately ¥503.81 million, a decrease from ¥586.36 million in Q1 2023, resulting in a net cash flow from investing activities of -¥100.92 million[24] Shareholder Actions - The company approved an increase in the share repurchase amount from a range of RMB 50 million to 100 million to a new range of RMB 100 million to 200 million, aimed at boosting investor confidence[12] - The second phase of the employee stock ownership plan will involve a total of up to 16.65 million shares, sourced from repurchased stocks, with participation limited to no more than 40 individuals[12] - Jiangsu Zhongtian Technology acquired minority equity in Zhongtian Technology Submarine Cable Co., Ltd. for RMB 391.76 million, making it a wholly-owned subsidiary[12]