LIUGONG(000528)2024-04-26 16:32Financial Performance - Operating cash flow for the current period was -41.34 million yuan, a decrease of 106.29% compared to the same period last year[1][5] - Net profit attributable to shareholders of the listed company was 497.89 million yuan, an increase of 58.03% year-on-year[5] - Revenue for the current period was 7.94 billion yuan, a year-on-year increase of 1.88%[5] - The weighted average return on equity was 2.99%, an increase of 1.01 percentage points year-on-year[5] - The company's investment income for the reporting period was -12,831,300.98, a decrease of 177.13% compared to the same period last year, mainly due to the impact of financial asset termination[23] - The fair value change income was -5,497,847.97, a decrease of 125.04% compared to the same period last year, mainly due to the fair value change of forward foreign exchange business[23] - The company's total revenue for the first quarter of 2024 was 7,938,822,313.26 yuan, compared to 7,792,217,512.41 yuan in the same period last year[40] - The total cost of operations for the first quarter of 2024 was 7,198,682,512.67 yuan, compared to 7,324,949,681.44 yuan in the same period last year[40] - The company's net profit attributable to the parent company for the first quarter of 2024 was 8,038,816,611.82 yuan, compared to 7,540,922,805.22 yuan in the same period last year[40] - Net profit for the period was 515.46 million yuan, up from 323.88 million yuan in the previous period[66] - Operating profit rose to 645.40 million yuan from 424.02 million yuan[66] - R&D expenses increased to 220.12 million yuan from 198.93 million yuan[66] - Total comprehensive income: 489,676,154.71 (current period) vs 303,198,623.63 (previous period)[68] - Comprehensive income attributable to owners of the parent company: 472,102,664.28 (current period) vs 294,446,830.35 (previous period)[68] - Basic earnings per share: 0.2552 (current period) vs 0.1615 (previous period)[68] - Diluted earnings per share: 0.2159 (current period) vs 0.1613 (previous period)[68] - Cash received from sales of goods and services: 8,413,657,504.25 (current period) vs 8,143,907,030.75 (previous period)[68] - Tax refunds received: 312,905,900.01 (current period) vs 326,062,738.44 (previous period)[68] Assets and Liabilities - Total assets at the end of the reporting period were 46.84 billion yuan, an increase of 0.57% compared to the end of the previous year[5] - Cash and cash equivalents at the end of the period were 8.05 billion yuan, a decrease of 1.4 billion yuan compared to the beginning of the period[1] - The company's trading financial assets decreased by 52.89% to 62,630,542.87, mainly due to the reduction in financial products[23] - The company's accounts receivable financing increased by 62.50% to 254,734,589.86, mainly due to the increase in retained bills at the end of the period[23] - The company's current liabilities due within one year increased by 33.05% to 653,789,384.21, mainly due to the increase in long-term loans due within one year[23] - The company's total liabilities as of March 31, 2024, were 28,343,721,745.23 yuan, compared to 28,581,431,638.39 yuan at the end of the previous quarter[40] - The company's total equity as of March 31, 2024, was 18,498,361,744.30 yuan, compared to 17,996,613,350.50 yuan at the end of the previous quarter[40] - The company's total assets as of March 31, 2024, were 46,842,083,489.53 yuan, compared to 46,578,044,988.89 yuan at the end of the previous quarter[40] - The company's construction in progress as of March 31, 2024, was 701,900,466.11 yuan, compared to 586,050,438.58 yuan at the end of the previous quarter[37] - The company's long-term payables as of March 31, 2024, were 172,812,379.07 yuan, compared to 184,219,779.98 yuan at the end of the previous quarter[40] - The company's deferred income as of March 31, 2024, was 749,353,514.38 yuan, compared to 759,450,905.26 yuan at the end of the previous quarter[40] - Total assets increased to 46.84 billion yuan from 46.58 billion yuan at the beginning of the period[61][63] - Accounts receivable grew to 10.03 billion yuan from 8.18 billion yuan[61] - Short-term borrowings decreased to 6.07 billion yuan from 6.97 billion yuan[63] - Fixed assets declined slightly to 6.02 billion yuan from 6.12 billion yuan[61] - Cash and cash equivalents decreased to 8.80 billion yuan from 10.35 billion yuan[61] - Long-term receivables increased to 2.48 billion yuan from 2.27 billion yuan[61] - Total liabilities remained stable at 22.21 billion yuan compared to 22.27 billion yuan at the beginning of the period[63] Shareholder Information - The company's largest shareholder, Guangxi Liugong Group Co., Ltd., holds 25.92% of the shares[9] - The top 10 shareholders hold a significant portion of the company's shares, with Guangxi Zhaogong Service Trade Investment Partnership holding 99,665,868 shares (5.10%)[11] - Hong Kong Securities Clearing Company Limited holds 86,106,731 shares (4.41%)[11] - Guoxin Shuangbai No. 1 (Hangzhou) Equity Investment Partnership holds 75,538,496 shares (3.87%)[11] - National Manufacturing Transformation and Upgrade Fund Co., Ltd. holds 54,084,549 shares (2.77%)[11] - CCB Financial Asset Investment Co., Ltd. holds 49,814,716 shares (2.55%)[11] Legal and Recovery Actions - The company successfully recovered 9.9432 million yuan in December 2021 and 1.0296 million yuan in February 2023 from the execution of a case involving Hainan Wuzhishan Group[30] - In May 2023, the company auctioned a property and recovered 398,000 yuan, and in December 2023, initiated bankruptcy proceedings against Jianghang Industrial and Trade Company[30] - As of December 31, 2023, the company had cumulatively recovered 6.72 million yuan from the execution of a case involving Jiangsu Jianchen[30] - In the case against Xinjiang Juhua, the company recovered 1.15 million yuan from the defendant's bank account in August 2023[32] - The company successfully auctioned a property belonging to Xinjiang Juhua for 11.319 million yuan in November 2023, with 9.0557 million yuan being credited to the court account in December 2023[32] - The company filed a lawsuit against Xinjiang Juhua for 73.4137 million yuan, including 66.1836 million yuan for loaders, 774,600 yuan for parts, and 6.4554 million yuan in penalties[32] - The company's subsidiary, Liugong Excavator Co., Ltd., filed a lawsuit against Jiangsu Jianchen for 36.6098 million yuan, including 34.5484 million yuan in unpaid货款 and 2.0614 million yuan in违约金[30] - The company's case against Xinjiang Juhua was divided into a main case and a parts case due to jurisdictional issues, with the main case being heard by the Liuzhou Intermediate Court and the parts case by the Liunan District Court[32] - The company's case against Xinjiang Juhua was supported by the Guangxi High Court, which ruled that Xinjiang Juhua should pay 1.15 million yuan in律师费 and that the defendants should承担连带清偿责任[32] Financing and Investments - The company received 1.25 billion yuan in loans during the reporting period, a significant decrease compared to 5.9 billion yuan in the same period last year[1] - The company's investment activities resulted in a net cash outflow of 96.44 million yuan, an improvement compared to the 160.9 million yuan outflow in the same period last year[1] - The company issued 3,000,000 convertible bonds with a total value of 3 billion yuan on March 27, 2023, and as of March 29, 2024, 752 bonds were converted into 9,638 shares[52] Other Financial Metrics - Non-recurring gains and losses amounted to 41.18 million yuan, mainly from government subsidies and debt restructuring[5] - Other equity instrument investment fair value change: -7,466,543.49 (current period) vs -12,061,200.75 (previous period)[68] - Other comprehensive income that can be reclassified to profit or loss: -18,324,598.83 (current period) vs -8,554,231.71 (previous period)[68] - Comprehensive income attributable to minority shareholders: 11,536.62 (current period) vs -61,138.70 (previous period)[68] - The company's first quarter report for 2024 is unaudited[72]