Founder Technology: Profit of 76.9094 million yuan in the first quarter of 2024, a year-on-year loss

Founder Technology (600601) disclosed its first quarter report for 2024 on April 26. In the first quarter of 2024, the company achieved total operating income of 769 million yuan, a year-on-year increase of 13.02%; net profit attributable to the parent company was 76.9094 million yuan, a year-on-year loss; non-net profit after deduction was 45.5936 million yuan, a year-on-year loss; net cash flow generated from operating activities was 173 million yuan, a year-on-year increase of 235.49%; during the reporting period, Founder Technology’s basic earnings per share was 0.02 yuan, and the weighted average return on net assets was 1.98%.

Founder Technology (600601) disclosed its first quarter report for 2024 on April 26.
In the first quarter of 2024, the company achieved total operating income of 769 million yuan, a year-on-year increase of 13.02%; net profit attributable to the parent company was 76.9094 million yuan, a year-on-year loss; non-net profit after deduction was 45.5936 million yuan, a year-on-year loss; net cash flow generated from operating activities was 173 million yuan, a year-on-year increase of 235.49%; during the reporting period, Founder Technology’s basic earnings per share was 0.02 yuan, and the weighted average return on net assets was 1.98%.
In the first quarter of 2024, the company\’s gross profit margin was 19.21%, an increase of 4.23 percentage points year-on-year; the net profit margin was 10.00%, an increase of 13.01 percentage points compared with the same period last year.
In the first quarter of 2024, the company\’s net cash flow from operating activities was 173 million yuan, a year-on-year increase of 235.49%; the net cash flow from financing activities was 101 million yuan, a year-on-year increase of 230 million yuan; the net cash flow from investing activities was -223 million yuan, The same period last year was -76.9734 million yuan.
In the first quarter of 2024, the company\’s operating income cash ratio was 114.72% and the net cash ratio was 224.50%.
In terms of major changes in assets, as of the end of the first quarter of 2024, the company\’s other non-current assets increased by 25.77% from the end of the previous year, and the proportion of the company\’s total assets increased by 1.47 percentage points; construction in progress increased by 75.99% from the end of the previous year, and the proportion of the company\’s total assets increased. 1.10 percentage points; monetary funds decreased by 6.38% compared with the end of the previous year, and the proportion of the company\’s total assets decreased by 1.03 percentage points; accounts receivable decreased by 6.90% from the end of the previous year, and the proportion of the company\’s total assets decreased by 1.00 percentage points.
In terms of major changes in liabilities, as of the end of the first quarter of 2024, the company\’s notes payable increased by 68.07% from the end of the previous year, and the proportion of the company\’s total assets increased by 3.13 percentage points; accounts payable decreased by 22.69% from the end of the previous year, and the proportion of the company\’s total assets decreased by 3.07 percentage points. percentage points; short-term borrowings decreased by 67.50% compared with the end of the previous year, and the proportion of the company\’s total assets decreased by 2.11 percentage points; long-term borrowings increased by 109.09% from the end of the previous year, and the proportion of the company\’s total assets increased by 2.12 percentage points.
The first quarter report shows that among the company\’s top ten tradable shareholders at the end of the first quarter of 2024, the new shareholder is the Suzhou Branch of China Everbright Bank Co., Ltd., replacing the Wells Fargo Innovation Technology Hybrid Securities Investment Fund at the end of the previous year.
In terms of chip concentration, as of the end of the first quarter of 2024, the total number of shareholders of the company was 147,900, an increase of 4,970 or 3.48% from the end of the previous year; the average shareholding value of each household dropped from 84,300 yuan at the end of the previous year to 71,600 yuan, a decrease of 15.07%.

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