WST(688122)2024-04-29 09:20Revenue and Profit Performance - Revenue for the first quarter of 2024 was RMB 793.56 million, a decrease of 13.96% year-over-year[4] - Net profit attributable to shareholders of the listed company was RMB 110.50 million, a decrease of 46.95% year-over-year[4] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was RMB 92.72 million, a decrease of 52.24% year-over-year[4] - Total revenue for Q1 2024 was 793.56 million RMB, a decrease from 922.32 million RMB in Q1 2023[22] - Net profit attributable to parent company owners was 1.88 billion RMB in Q1 2024, up from 1.77 billion RMB in the previous quarter[21] - Net profit attributable to parent company shareholders was RMB 110.5 million, compared to RMB 208.3 million in the same period last year[23] - The company's total comprehensive income was RMB 108.0 million, down from RMB 210.8 million year-over-year[25] R&D Investment - R&D investment totaled RMB 79.58 million, an increase of 80.55% year-over-year[4] - R&D investment as a percentage of revenue increased by 5.25 percentage points to 10.03%[4] - The increase in R&D investment was primarily due to the initiation and progression of new research projects[12] - R&D expenses increased to 81.72 million RMB in Q1 2024 from 46.22 million RMB in Q1 2023[22] Assets and Liabilities - Total assets at the end of the reporting period were RMB 12.42 billion, an increase of 2.79% compared to the end of the previous year[6] - Equity attributable to shareholders of the listed company was RMB 6.48 billion, an increase of 2.48% compared to the end of the previous year[6] - Total assets as of Q1 2024 were 12.42 billion RMB, compared to 12.08 billion RMB in the previous quarter[19] - Total liabilities as of Q1 2024 were 5.44 billion RMB, slightly up from 5.35 billion RMB in the previous quarter[20] - Total equity attributable to parent company owners was 6.48 billion RMB in Q1 2024, up from 6.32 billion RMB in the previous quarter[21] Non-Recurring Gains and Losses - Non-recurring gains and losses amounted to RMB 17.77 million, including government subsidies of RMB 13.98 million[7][8] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 22,193[13] - Northwest Institute for Nonferrous Metal Research holds 136,151,200 shares, accounting for 20.96% of the total shares[13] - CITIC Metal Co., Ltd. holds 77,250,613 shares, accounting for 11.89% of the total shares[13] - Yongchun Tianhui Technology Investment Co., Ltd. holds 32,075,680 shares, accounting for 4.94% of the total shares[13] - Xi'an Industrial Investment Group Co., Ltd. holds 29,522,835 shares, accounting for 4.54% of the total shares[13] - China Merchants Bank Co., Ltd. - Huaxia SSE STAR Market 50 Index ETF holds 29,210,221 shares, accounting for 4.50% of the total shares[13] - Hong Kong Securities Clearing Company Ltd. holds 26,785,993 shares, accounting for 4.12% of the total shares[13] - China Construction Bank Co., Ltd. - E Fund National Defense and Military Industry Mixed Securities Investment Fund holds 23,837,864 shares, accounting for 3.67% of the total shares[13] - Industrial and Commercial Bank of China Co., Ltd. - E Fund SSE STAR Market 50 Index ETF holds 16,193,850 shares, accounting for 2.49% of the total shares[13] - National Military-Civilian Integration Industry Investment Fund Co., Ltd. holds 11,087,226 shares, accounting for 1.71% of the total shares[13] Operating Costs and Expenses - Operating costs for Q1 2024 were 697.12 million RMB, compared to 683.71 million RMB in Q1 2023[22] - The decrease in net profit was mainly due to reduced product sales revenue, changes in sales structure, and increased R&D expenditures[10] Cash Flow and Financial Activities - Operating cash flow increased to RMB 144.8 million, a significant improvement from a negative RMB 125.6 million in the same period last year[26][27] - Cash received from sales of goods and services rose to RMB 926.4 million, up from RMB 763.9 million year-over-year[26] - Cash paid for goods and services decreased to RMB 556.2 million from RMB 717.8 million in the previous year[27] - Investment cash inflows totaled RMB 1.84 billion, down from RMB 4.51 billion in the same period last year[27] - Cash and cash equivalents at the end of the period stood at RMB 1.73 billion, compared to RMB 2.39 billion in the previous year[28] - Cash received from financing activities was RMB 345.6 million, compared to RMB 544.6 million in the same period last year[27] - The company's net cash flow from financing activities increased to RMB 198.3 million from RMB 105.0 million year-over-year[28] Inventory and Contract Liabilities - Inventory as of Q1 2024 was 3.49 billion RMB, up from 3.34 billion RMB in the previous quarter[19] - Contract liabilities increased to 267.48 million RMB in Q1 2024 from 141.56 million RMB in the previous quarter[20] Loans and Equity - Long-term loans decreased to 1.18 billion RMB in Q1 2024 from 1.54 billion RMB in the previous quarter[20] Earnings Per Share - Basic earnings per share were RMB 0.17, down from RMB 0.32 in the previous year[25]