JGJC(000799)2024-04-28 12:08Financial Performance - The company's revenue for Q1 2024 was ¥493,905,318.75, a decrease of 48.80% compared to ¥964,599,635.83 in the same period last year[3] - Net profit attributable to shareholders was ¥73,380,342.01, down 75.56% from ¥300,188,360.73 year-on-year[3] - Total operating revenue for Q1 2024 was CNY 493.91 million, a decrease of 48.8% compared to CNY 964.60 million in the same period last year[22] - Net profit for Q1 2024 was CNY 73.38 million, a decline of 75.5% compared to CNY 300.19 million in Q1 2023[23] - Basic earnings per share for Q1 2024 were CNY 0.2258, down from CNY 0.9239 in the previous year[23] - Total operating costs for Q1 2024 were CNY 398.46 million, down 29.8% from CNY 567.30 million year-over-year[22] - The company reported a significant decrease in sales expenses, which were CNY 167.59 million in Q1 2024, down 33.2% from CNY 251.13 million in the same period last year[22] Cash Flow and Assets - The net cash flow from operating activities was -¥264,751,828.82, a decline of 259.83% compared to ¥165,649,941.66 in the previous year[3] - The company's cash and cash equivalents decreased to ¥2,006,153,614.00 from ¥2,361,201,175.92 at the beginning of the period, representing a decline of approximately 15.06%[20] - The cash inflow from operating activities for Q1 2024 was CNY 377,664,065.42, a decrease of 54.4% compared to CNY 827,538,561.63 in the same period last year[24] - The net cash outflow from operating activities was CNY -264,751,828.82, contrasting with a net inflow of CNY 165,649,941.66 in Q1 2023[24] - The total cash outflow from operating activities was CNY 642,415,894.24, slightly lower than CNY 661,888,619.97 in Q1 2023[25] - The ending balance of cash and cash equivalents was CNY 2,006,151,814.00, down from CNY 3,136,680,513.97 at the end of Q1 2023[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,560,029,839.73, a decrease of 1.93% from ¥5,669,511,370.92 at the end of the previous year[3] - Total liabilities decreased to CNY 1.21 billion in Q1 2024 from CNY 1.39 billion in the same quarter last year, a reduction of approximately 13.1%[21] - The total current assets decreased to ¥4,060,558,710.25 from ¥4,259,787,342.63, a decline of approximately 4.67%[20] - The total equity attributable to shareholders increased to CNY 4.35 billion in Q1 2024 from CNY 4.28 billion in the previous year, a growth of 1.7%[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 144,200, with the largest shareholder, Zhonghuang Co., Ltd., holding 31.00% of shares[15] - The top ten shareholders do not have any related party relationships or act in concert, ensuring independent ownership[17] - The company has not reported any changes in the participation of the top ten shareholders in margin trading and securities lending activities[17] Business Strategy and Market Conditions - The company is undergoing a marketing model transformation, focusing on channel fee reform and improving product sales, but this transition is still in progress[8] - The introduction of new high-end products is in the market penetration phase, which has not yet generated significant sales support[10] - The company plans to enhance its marketing model and accelerate the development of core customers and terminals in both Hunan and other provinces[12] - The company aims to optimize its product value chain to improve channel profitability and boost customer confidence[13] - New business channels and innovative approaches will be explored to create market growth, including customized products and international market expansion[14] - The company reported a significant decline in sales due to industry-wide adjustments and increased competition, impacting customer payment willingness[7] Research and Development - Research and development expenses increased to CNY 2.07 million in Q1 2024, up from CNY 1.14 million in the previous year, reflecting a 81.5% increase[22] Tax and Other Expenses - Tax expenses for Q1 2024 were CNY 24.46 million, down 75.6% from CNY 100.06 million in Q1 2023[23] Other Financial Information - The company's fixed assets decreased to ¥524,145,531.13 from ¥527,447,373.56, showing a decline of approximately 0.61%[20] - Long-term equity investments slightly decreased to ¥30,281,865.53 from ¥30,408,687.97, a reduction of about 0.42%[20] - The total non-current assets increased to ¥1,499,471,129.48 from ¥1,409,724,028.29, indicating a growth of about 6.36%[20] - The cash flow from investing activities resulted in a net outflow of CNY -90,295,734.51, compared to CNY -105,410,786.80 in the same quarter last year[25] - The company did not report any cash inflow from financing activities in Q1 2024, while it had a cash outflow of CNY 935,676.00 in the previous year[25] - The impact of exchange rate changes on cash and cash equivalents was CNY 1.41, a significant improvement from CNY -6.91 in Q1 2023[25] - The company’s first quarter report for 2024 was not audited[26]