HONGHUI(002802)2024-04-26 10:32Financial Performance - The company's revenue for Q1 2024 was ¥69,513,177.53, representing a decrease of 15.62% compared to ¥82,377,878.27 in the same period last year[4] - Net profit attributable to shareholders was ¥3,787,892.09, down 63.85% from ¥10,477,935.23 year-on-year[4] - Basic and diluted earnings per share were both ¥0.02, a decline of 66.67% from ¥0.06 in the same period last year[4] - Total operating revenue for Q1 2024 was CNY 69,513,177.53, a decrease of 15.6% compared to CNY 82,377,878.27 in Q1 2023[22] - Net profit for Q1 2024 was CNY 3,787,892.09, a decline of 63.8% from CNY 10,477,935.23 in Q1 2023[23] - The total comprehensive income for the first quarter was CNY 3,787,892.09, a decrease from CNY 10,477,935.23 in the previous period, representing a decline of approximately 63.8%[24] Cash Flow and Assets - The net cash flow from operating activities decreased by 48.39%, amounting to ¥15,072,081.56 compared to ¥29,203,067.45 in the previous year[11] - The company's total assets decreased to CNY 703,038,076.63 in Q1 2024 from CNY 721,281,294.05 in Q1 2023, a reduction of 2.5%[20] - Cash and cash equivalents at the end of the period increased to CNY 61,621,926.41 from CNY 56,031,185.20, marking a net increase of CNY 2,131,989.54[26] - The company reported a decrease in cash received from sales of goods and services, totaling CNY 67,246,679.46, down from CNY 82,332,877.85, reflecting a decline of approximately 18.3%[25] - Total cash outflow from operating activities was CNY 52,437,927.08, down from CNY 55,220,204.67, indicating a decrease of about 5.1%[26] Liabilities and Equity - Current liabilities totaled CNY 34,601,366.90, down 26.7% from CNY 47,257,487.32 in the previous year[20] - The total equity attributable to shareholders was CNY 660,345,607.17, a slight decrease from CNY 665,644,408.04 in the previous year[20] - The company's deferred tax liabilities decreased to CNY 1,062.44 from CNY 12,251.54, indicating a significant reduction of 91.3%[20] Operational Changes and Investments - The company reported a significant increase in contract liabilities by 181.10%, reaching ¥2,580,589.98 due to an increase in orders[8] - The company experienced a 50.83% increase in prepaid accounts, totaling ¥5,132,766.03, attributed to higher raw material prepayments[8] - The company plans to upgrade its production capacity for water-based industrial paint base materials to 60,000 tons and for chlorinated vinyl-acetate copolymer resin to 100,000 tons[16] - The company received the investment project filing certificate from the Wuxi Municipal Administration for Market Regulation on December 4, 2023[16] - The company aims to enhance market competitiveness and overall strength through the optimization of product structure and processes[16] - The company has initiated environmental and safety assessments for the technical transformation project[16] Share Repurchase - The company repurchased shares, resulting in an increase in treasury stock to ¥10,278,689.54, reflecting a 100% increase from zero[9] - The company repurchased a total of 1,172,035 shares, accounting for 0.64% of the total share capital, with a total expenditure of approximately RMB 10.28 million[15] - The maximum and minimum repurchase prices were RMB 9.70 and RMB 7.60 per share, respectively[15] - The board approved a share repurchase plan with a total fund of no less than RMB 30 million and no more than RMB 60 million[15] Research and Development - Research and development expenses for Q1 2024 were CNY 5,731,748.38, slightly down from CNY 5,753,424.68 in Q1 2023[23] Other Financial Metrics - Non-operating income totaled ¥1,715,176.69, primarily from government subsidies and financial asset management[5] - The company recorded a 120.31% increase in net cash and cash equivalents, amounting to ¥2,131,989.54, compared to a decrease of ¥10,497,636.24 in the previous year[11] - The company's trading financial assets decreased to RMB 291.19 million from RMB 300.96 million[18] - Accounts receivable decreased to RMB 55.45 million from RMB 58.59 million[18] Audit Status - The first quarter report was not audited, which may affect the reliability of the financial data presented[28]