Jade Bird Fire(002960)2024-04-26 10:47Financial Performance - In Q1 2024, the company achieved operating revenue of CNY 916.53 million, a year-on-year increase of 10.27%[7] - The net profit attributable to shareholders of the listed company was CNY 78.68 million, up 1.68% compared to the same period last year[22] - The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was CNY 66.80 million, representing a growth of 7.79% year-on-year[22] - The company’s basic earnings per share decreased by 22.46% to CNY 0.107 compared to the same period last year[22] - The net profit for Q1 2024 was CNY 82,956,381.60, representing an increase from CNY 80,942,124.41 in the previous year, reflecting a growth of approximately 2.5%[60] - The total profit before tax was CNY 101,319,618.26, an increase from CNY 93,793,108.05, indicating a growth of approximately 7.4%[60] - The total comprehensive income attributable to the parent company was CNY 64,025,850.92, down from CNY 82,538,827.87, reflecting a decrease of about 22.5%[60] Revenue Growth - Revenue from the industrial fire protection products segment grew by over 20% year-on-year in Q1 2024, driven by strong demand in key sectors such as petrochemicals and high-end manufacturing[52] - The firefighting business segment experienced a revenue increase of over 30% year-on-year in Q1 2024, maintaining a rapid growth trend[52] - The traditional fire alarm business achieved stable growth, with the Jiuyuan brand experiencing a year-on-year increase of over 20% in Q1 orders[28] - In the smart fire protection sector, the company shipped approximately CNY 8.70 million worth of projects in Q1 2024, a 75% increase year-on-year[9] Expenses and Investments - The company invested CNY 1.42 billion in sales expenses, CNY 0.84 billion in management expenses, and CNY 0.58 billion in R&D expenses, reflecting increases of 18.32%, 43.21%, and 3.80% respectively compared to the previous year[10] - The company is implementing cost reduction and efficiency enhancement measures, aiming to balance workforce efficiency and scale expansion[75] Market Expansion - The company plans to acquire 75% stakes in four overseas companies for no more than GBP 13 million, aiming to expand its presence in the home fire safety market[15] - The company plans to acquire FB Group to expand its presence in the overseas household fire safety market, targeting regions such as the UK, EU, North America, and Oceania[53] - The company is expanding its overseas market presence, with stable and rapid growth in overseas revenue in Q1 2024[29] Assets and Liabilities - The total assets at the end of the reporting period were CNY 8.03 billion, a decrease of 5.16% from the end of the previous year[22] - The total assets of the company decreased to 8,034,198,216.27 from 8,471,735,359.86 year-on-year, indicating a decline of approximately 5.2%[59] - The company’s total liabilities and equity amounted to RMB 8,034,198,216.27, down from RMB 8,471,735,359.86[36] - The company’s long-term liabilities totaled 189,454,408.25, a slight decrease from 192,858,189.55 in the previous year[59] Cash Flow - In Q1 2024, the company reported a net cash flow from financing activities of -205,180,926.46, compared to -65,077,595.65 in the previous year, indicating a significant increase in cash outflows[39] - The total cash and cash equivalents at the end of Q1 2024 were 1,992,536,404.42, down from 2,858,448,892.53 in the same period last year, reflecting a decrease of approximately 30.3%[39] - The company reported a net cash outflow from operating activities of CNY -231,121,560.29, compared to CNY -190,441,037.68 in the previous period, showing a decline in cash flow[62] - The net cash flow from investment activities decreased by 71.66% to ¥43,654,753.14, mainly due to reduced net inflow from entrusted financial management[68] - The net cash flow from financing activities worsened by 215.29% to -¥205,180,926.46, primarily due to cash outflows from stock repurchases[68] Product Development - The company launched the J-C-62S90B integrated controller product, which has been successfully applied in multiple provinces and received positive client feedback[31] - The company launched a new generation of image-based fire detectors that can monitor multiple fire characteristics and will be fully marketed in April[76] - The AI big data chip development is on track, with production expected to commence in May 2024, alongside the layout of wireless RF chips anticipated to be completed within one year[55] Shareholder Information - The company reported a total of 23,634 common stock shareholders at the end of the reporting period[26] - The company has initiated a share repurchase plan, with a total of 14,723,590 shares repurchased, accounting for 1.94% of the total share capital, at a total cost of approximately RMB 199.72 million[33] - The total equity attributable to shareholders of the parent company is RMB 6,128,351,085.64, a decrease from RMB 6,236,612,381.66[36] - The company’s undistributed profits stand at RMB 3,149,493,824.25, an increase from RMB 3,070,813,100.25[36]