WBTL(603596)2024-04-29 10:53Financial Performance - The company's operating revenue for Q1 2024 reached ¥1,859,952,289.55, representing a 24.04% increase compared to the same period last year[4] - Net profit attributable to shareholders was ¥209,917,928.44, reflecting a growth of 21.85% year-over-year[4] - The net profit after deducting non-recurring gains and losses was ¥191,730,032.02, an increase of 18.55% compared to the previous year[4] - Basic earnings per share stood at ¥0.48, marking a 15.36% increase from the same quarter last year[5] - The company reported a net profit of ¥3,471,250,682.48 for the first quarter of 2024, compared to ¥3,261,332,754.05 in the previous quarter, reflecting a growth of about 6.43%[24] - Net profit for Q1 2024 was ¥210,341,897.40, representing a 20.2% increase compared to ¥174,929,114.21 in Q1 2023[27] - The company reported a total comprehensive income of ¥233,247,209.06 for Q1 2024, compared to ¥174,007,431.30 in Q1 2023[27] Cash Flow - The net cash flow from operating activities was negative at -¥31,716,538.59, a decline of 76.40% year-over-year[4] - Cash flow from operating activities showed a net outflow of ¥31,716,538.59, an improvement from a net outflow of ¥134,419,898.52 in Q1 2023[29] - Cash inflow from operating activities totaled ¥1,872,872,047.70, compared to ¥1,485,106,891.40 in the previous year[29] - The net cash inflow from investment activities was -122,183,379.06, a decrease from 77,972,860.06 in the previous year[30] - The total cash inflow from financing activities was 50,000,000.00, compared to 13,924,420.04 in the previous year[30] - The net cash flow from financing activities increased to 46,481,514.60 from 13,686,698.04 year-over-year[30] - The cash outflow from investment activities totaled 335,196,995.28, compared to 243,850,483.24 in the previous year[30] - The cash inflow from investment activities was 213,013,616.22, a decrease from 321,823,343.30 year-over-year[30] - The cash outflow for purchasing goods and services was ¥1,594,693,518.19, an increase from ¥1,334,521,249.08 in Q1 2023[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥10,946,519,045.75, up 1.86% from the end of the previous year[5] - Current assets totaled ¥7,784,034,042.58, up from ¥7,718,389,569.16, indicating an increase of about 0.85%[22] - Total liabilities decreased to ¥4,654,935,577.88 from ¥4,692,941,737.41, a reduction of about 0.81%[24] - The company's equity attributable to shareholders rose to ¥5,914,463,963.80, up from ¥5,677,110,911.48, indicating an increase of approximately 4.18%[24] Research and Development - The company is focusing on new product development, with numerous projects in the pipeline across various product categories, including advanced driver assistance systems[18] - The company has 82 projects under research for wire-controlled braking systems, with 63 related to new energy vehicles, and 18 projects for electric power steering systems, with 12 related to new energy vehicles[17] - There are currently 208 projects under research for disc brakes, with 66 related to new energy vehicles; 49 projects for lightweight products, with 28 related to new energy vehicles; and 64 projects for electronic parking brake systems, with 56 related to new energy vehicles[15][17] - Research and development expenses for Q1 2024 were ¥110,913,997.79, compared to ¥93,015,033.69 in Q1 2023[26] Market and Sales - The company's main business revenue for Q1 2024 was RMB 181.72 million, representing a year-on-year growth of 25.53%[13] - Sales volume of smart electronic control products reached 922,734 units, up 28% year-on-year; disc brake sales were 685,138 units, up 13% year-on-year; lightweight brake components sales were 2,784,935 units, up 52% year-on-year; mechanical steering products sales were 739,270 units, up 54% year-on-year[13] - The company secured 106 new designated projects in Q1 2024, including a lightweight project for a North American new energy vehicle company, expected to generate total sales of approximately USD 122 million over 5 years, with a peak annual revenue of about USD 31.46 million[14] - The company also obtained a platform project for an EPB system from a German joint venture, with projected total sales of approximately RMB 600 million over 8 years, and a peak annual revenue of about RMB 96 million[14] - The company is actively optimizing its customer structure while solidifying existing clients, indicating a strategic focus on market expansion[14] Shareholder Information - The total number of shareholders at the end of the reporting period was 22,930, with the largest shareholder holding 18.23% of the shares[11] Other Financial Metrics - The weighted average return on equity decreased by 0.39 percentage points to 3.62%[5] - Government subsidies recognized in the current period amounted to ¥21,588,580.00, contributing positively to the financial results[6] - Deferred income increased to ¥181,651,693.15 from ¥150,820,886.33, indicating a growth of approximately 20.49%[24] - Cash and cash equivalents decreased to ¥2,171,552,811.28 from ¥2,339,544,198.63, a decline of approximately 7.2%[22] - The cash and cash equivalents at the end of the period were 2,062,730,275.08, down from 2,120,064,836.98 in the previous year[30] - The cash outflow for the purchase of fixed assets and intangible assets was 125,996,995.28, down from 240,550,483.24 in the previous year[30] - The company did not apply new accounting standards for the first quarter of 2024[31]