TES(003019)2024-04-28 07:51Financial Performance - The company's revenue for Q1 2024 reached ¥640,958,629.98, representing a 44.37% increase compared to ¥364,319,830.71 in the same period last year[5] - Net profit attributable to shareholders was ¥65,284,868.98, a significant increase of 94.10% from ¥37,755,048.86 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥62,520,535.34, reflecting a 157.27% increase from ¥28,451,552.42 in the previous year[5] - Basic earnings per share rose to ¥0.40, up 90.48% from ¥0.26 in the same quarter last year[5] - Operating revenue increased to ¥640,958,629.98, a 44.37% increase compared to ¥443,983,607.52 in the previous period, primarily due to significant sales growth from subsidiary Hongtong and effective market expansion efforts[14] - Net profit reached ¥65,747,749.30, up 106.31% from ¥31,867,796.26, influenced by revenue growth and reduced financial expenses due to exchange rate gains[14] - The net profit for the first quarter of 2024 was CNY 65,747,749.30, a 106.4% increase compared to CNY 31,867,796.26 in the same period last year[32] - The company reported a total comprehensive income of CNY 60,312,583.20 for the first quarter, compared to CNY 29,548,093.93 in the previous year, reflecting a growth of 104.1%[32] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥2,303,382,353.63, a slight increase of 0.86% from ¥1,965,625,087.33 at the end of the previous year[5] - Total liabilities increased to ¥848,305,625.57 from ¥821,422,635.96, marking a rise of 3.3%[28] - The company's cash and cash equivalents decreased from RMB 399.80 million at the beginning of the period to RMB 332.98 million at the end of the period[25] - Trading financial assets decreased from RMB 196.14 million at the beginning of the period to RMB 70.70 million at the end of the period[25] Cash Flow - The company reported a cash flow deficit from operating activities of ¥6,750,776.32, a decline of 125.06% compared to a positive cash flow of ¥50,608,268.99 in the same period last year[5] - Cash flow from operating activities was negative at ¥-6,750,776.32, a 125.06% decrease from ¥26,936,036.64, attributed to increased material procurement payments[16] - The company incurred a net cash outflow from investing activities of CNY 61,154,595.19, an improvement from a net outflow of CNY 152,092,668.40 in the same period last year[34] - The company’s total liabilities increased, leading to a cash outflow from financing activities of CNY 572,184.17, down from a net inflow of CNY 144,699,228.32 in the previous year[34] Investments and Acquisitions - The company approved the acquisition of 60% equity in Hongtong Technology for RMB 180.10 million using raised funds[20] - As of February 1, 2024, the equity transfer procedures for Hongtong Technology have been completed, making it a subsidiary of the company[21] - Cash received from investment activities increased by 53.13% to ¥404,750,351.97, mainly due to the maturity of bank wealth management products[16] - Cash paid for investments surged by 445.76% to ¥180,101,988.00, primarily due to the investment in Hongtong[16] Production and Expansion - The company is expanding its production capabilities with the addition of a new production line in Thailand, contributing to a 46.59% increase in construction in progress[12] - The company plans to expand its production capacity with the addition of a new production line in Thailand, contributing to future growth[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,356, with IPC Management Limited holding 30.75% of shares[17] - The company plans to grant a total of 7.344 million restricted stocks under the 2024 incentive plan, accounting for approximately 4.50% of the total share capital[22] - The company intends to repurchase shares with a total amount between RMB 80.78 million and RMB 161.57 million, with a maximum price of RMB 22 per share[23] - As of March 31, 2024, the company repurchased 3,543,053 shares, representing 2.17% of the total share capital, with a total transaction amount of RMB 72.12 million[23] Research and Development - Research and development expenses for Q1 2024 were ¥20,709,697.82, slightly up from ¥19,498,946.64 in Q1 2023[31] - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[31] Accounting and Reporting - The company has adopted new accounting standards effective January 1, 2024, which will not impact the financial statements for the current year[35] - The first quarter report was not audited, indicating that the figures are preliminary and subject to change[36]