ECH(603200)2024-04-26 08:56Financial Performance - The company's operating revenue for Q1 2024 was CNY 124,946,060.54, representing a year-on-year increase of 6.40%[4]. - Net profit attributable to shareholders was CNY 20,220,249.90, showing a significant increase of 84.66% compared to the same period last year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 19,972,945.74, which increased by 151.08% year-on-year[4]. - Basic and diluted earnings per share were both CNY 0.11, reflecting an increase of 83.33% from the previous year[4]. - The company reported a total comprehensive income of CNY 20,153,410.19, a significant increase of 83.5% compared to CNY 10,953,411.05 in Q1 2023[24]. - Net profit for Q1 2024 was ¥18,972,353.40, representing a 58.3% increase from ¥12,007,820.50 in Q1 2023[23]. - The profit attributable to shareholders of the parent company was ¥20,220,249.90, up 84.5% from ¥10,950,025.83 in the previous year[23]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 16,531,791.22, a substantial improvement from a negative cash flow of CNY -55,486,000 in the same period last year[4][9]. - The company's cash and cash equivalents increased, contributing to a stronger liquidity position[21]. - The total cash and cash equivalents at the end of Q1 2024 reached CNY 295,851,674.73, up from CNY 132,227,028.03 at the end of Q1 2023, indicating a substantial increase of 123.5%[29]. - The cash outflow from investing activities in Q1 2024 was CNY 9,788,167.70, a decrease from CNY 126,763,414.17 in Q1 2023, showing a reduction in investment expenditures[28]. - Cash inflow from financing activities in Q1 2024 totaled CNY 51,286,651.75, down from CNY 82,797,036.12 in Q1 2023, indicating a decrease of 38.1%[29]. - The company reported a net cash increase of CNY 21,992,044.92 in Q1 2024, contrasting with a net decrease of CNY -142,570,479.08 in Q1 2023[29]. - The cash flow from operating activities outflow totaled CNY 138,693,402.53 in Q1 2024, down from CNY 166,399,296.51 in Q1 2023, reflecting improved operational efficiency[28]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,484,796,369.73, up 0.97% from the end of the previous year[6]. - Total liabilities decreased to ¥461,639,571.29 from ¥472,279,301.84 year-over-year[20]. - Shareholders' equity attributable to the parent company was CNY 948,159,898.65, an increase of 2.79% compared to the previous year-end[6]. - Accounts receivable decreased to RMB 330,586,725.36 from RMB 367,732,338.28, indicating a reduction of about 10.1%[18]. Research and Development - Research and development expenses for Q1 2024 were ¥8,699,003.46, slightly up from ¥8,045,168.94 in Q1 2023, indicating continued investment in innovation[22]. - The company has obtained patents for lithium-lanthanum-zirconium oxide/lithium cobalt oxide composite materials and inorganic solid electrolyte interface buffer layers, enhancing its R&D capabilities[14]. Business Expansion and Investments - A new subsidiary, Zhejiang Lingqi Technology Co., Ltd., was established with a registered capital of RMB 10 million, where the company holds a 65% stake, focusing on new silicon-carbon anode materials[14]. - The company launched a new liquid cooling equipment division to expand its business in data center cooling solutions[15]. - The company plans to expand its market presence and invest in new technologies to drive future growth[23]. Shareholder Information - The top shareholder, Wang Wei, holds 40.86% of the shares, with 12 million shares pledged[12]. - The company did not sign any long-term stable contracts in its advanced materials business, which currently does not significantly impact overall performance[16]. Other Financial Metrics - Total operating costs decreased to ¥101,827,502.73, down 4.0% from ¥106,682,050.22 in the same period last year[22]. - The company reported a significant reduction in financial expenses, down to ¥104,171.47 from ¥1,449,227.02 in the previous year[22]. - The company completed 18 batches of lithium-ion battery solid electrolyte powder materials, totaling approximately 170 kg, covering 13 customers, with orders exceeding 60 kg[16]. - The company reported a prepayment increase to RMB 22,748,970.28 from RMB 14,658,853.38, marking a rise of approximately 55.5%[18]. - The company’s other receivables increased to RMB 10,257,144.98 from RMB 8,691,307.06, reflecting a growth of about 18%[18].