GREE(000651)2024-04-29 18:54Revenue and Profit - Revenue for the first quarter of 2024 was RMB 36.36 billion, a 2.56% increase compared to the same period last year[3] - Total revenue for Q1 2024 reached RMB 36.60 billion, a 2.53% increase compared to RMB 35.69 billion in the same period last year[16] - Net profit attributable to shareholders was RMB 4.68 billion, up 13.77% year-over-year[3] - Net profit attributable to the parent company's owners was RMB 4.68 billion, up 13.77% from RMB 4.11 billion in the previous year[17] - Operating profit increased by 17.08% to RMB 5.32 billion from RMB 4.54 billion in Q1 2023[17] - Basic earnings per share were RMB 0.85, a 16.44% increase compared to the same period last year[3] - Basic earnings per share increased to RMB 0.85, up from RMB 0.73 in Q1 2023[18] Cash Flow and Financial Position - Net cash flow from operating activities was negative RMB 2.94 billion, a 119.52% decrease compared to the same period last year[6] - Operating cash flow decreased significantly to -2.94 billion yuan from 15.07 billion yuan in the previous period[19] - Net cash flow from investment activities improved to -1.57 billion yuan from -6.79 billion yuan[20] - Cash received from financing activities decreased to 30.80 billion yuan from 49.52 billion yuan[20] - Net cash flow from financing activities increased to 10.36 billion yuan from 2.73 billion yuan[20] - Cash and cash equivalents at the end of the period stood at 36.65 billion yuan, down from 42.71 billion yuan[20] - Cash received from tax refunds increased to 916.21 million yuan from 709.46 million yuan[19] - Cash paid for goods and services decreased to 28.25 billion yuan from 31.83 billion yuan[19] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 380.81 billion, a 3.47% increase from the end of the previous year[3] - Total assets increased to RMB 380.81 billion, up from RMB 368.05 billion at the beginning of the period[13][14] - Current assets totaled RMB 235.26 billion, compared to RMB 228.14 billion at the start of the period[13][14] - Monetary funds rose to RMB 125.15 billion from RMB 124.10 billion[13] - Accounts receivable increased to RMB 17.57 billion from RMB 16.10 billion[13] - Inventory grew to RMB 34.23 billion from RMB 32.58 billion[14] - Short-term borrowings surged to RMB 35.68 billion from RMB 26.44 billion[14] - Contract liabilities increased to RMB 20.49 billion from RMB 13.59 billion[14] - Long-term borrowings stood at RMB 39.27 billion, slightly up from RMB 39.04 billion[14] - Total liabilities amounted to RMB 209.05 billion for current liabilities and RMB 39.27 billion for non-current liabilities[14] - Total liabilities increased by 3.25% to RMB 255.45 billion from RMB 247.41 billion at the end of 2023[15] - Total equity rose by 3.91% to RMB 125.37 billion from RMB 120.65 billion at the end of 2023[15] - The company's total equity reached RMB 132.49 billion, up from RMB 127.08 billion[14] Shareholders and Equity - Shareholders' equity attributable to the parent company was RMB 121.53 billion, a 4.06% increase from the end of the previous year[3] - The top shareholder, Zhuhai Mingjun Investment Partnership, holds 16.02% of the company's shares[7] - Hong Kong Securities Clearing Company Limited holds 11.87% of the company's shares[7] Expenses and Income - R&D expenses decreased by 3.09% to RMB 1.49 billion compared to RMB 1.54 billion in the previous year[16] - Sales expenses increased by 2.71% to RMB 2.68 billion compared to RMB 2.61 billion in the previous year[16] - Financial income improved significantly to RMB -922.32 million, compared to RMB -553.29 million in Q1 2023[16] - Comprehensive income totaled RMB 3.89 billion, a decrease of 15.09% from RMB 4.58 billion in the same period last year[18] - Government subsidies received during the reporting period amounted to RMB 159.02 million[4] - Non-recurring gains and losses for the reporting period totaled RMB 149.67 million[4] Sales and Revenue - Sales revenue from goods and services dropped to 33.46 billion yuan from 55.96 billion yuan[19] Audit and Reporting - The company's first-quarter report for 2024 was not audited[21]