ST Tesco (stock code: 002024) is a leading retail company that mainly deals in home appliances, 3C products, household goods, etc. The company provides consumers with a diverse shopping experience through a retail model integrating online and offline. In the first quarter of 2024, ST Tesco released its latest financial report. This article will analyze its financial data in detail.

First, judging from balance and liability data, ST Tesco's total assets as of March 31, 2024 were 122,296,359 thousand yuan, an increase of 0.45% over 121,748,283 thousand yuan at the end of the previous year. Despite the increase in total assets, liabilities also increased accordingly. Total liabilities at the end of the period were $112,150,161 thousand, up 0.48% from $111,612,364 thousand at the beginning of the period. This raised the balance ratio slightly to 91.7% from 91.67% at the beginning of the period. Goodwill remained unchanged at 1,711,430 thousand yuan. These data show that the company has maintained a relatively stable state in terms of assets and liabilities, but the high balance ratio is still an issue to be concerned about.

In terms of profit data, ST Tesco's revenue for the first quarter of 2024 was 12,579,798 thousand yuan, a year-on-year decrease of 20.68%. Despite the decline in operating income, net profit attributable to shareholders of listed companies was -96,871 thousand yuan, a decrease from -100,644 thousand yuan in the same period last year, and a loss reduction of 3.75%. Net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss was -328,677 thousand yuan, a year-on-year decrease of 32.71%. The gross margin increased to 22.11% from 20.73% in the same period last year, indicating improvements in the company's cost control and product margin. However, the weighted average return on net assets fell from -0.63% to -0.85%, indicating that the company still faces challenges in terms of return on net assets.

In terms of cash flow data, net cash flow from operating activities in the first quarter of 2024 was 1,406,920 thousand yuan, a year-on-year decrease of 27.71%. The subtotal cash inflow from operating activities was 13,431,105 thousand yuan, a significant decrease from 19,658,058 thousand yuan in the same period last year, mainly due to sluggish consumer sentiment and adjustments in Carrefour's business. The subtotal cash outflow from operating activities was 12,024,185 thousand yuan, a year-on-year decrease of 32.09%. The net cash flow from investment activities was -$181,698,000, a year-on-year decrease of 619.08%, mainly due to the company promoting the resumption of work and reconstruction of logistics bases and strengthening cash management. Net cash flow from financing activities was -1,398,975 thousand yuan, a year-on-year decrease of 32.63%, mainly due to loan repayment and rental expenses.

In summary, ST Tesco faced the challenges of falling revenue and high debt ratios in the first quarter of 2024, but there were improvements in gross margin and net profit. The company has improved the efficiency of capital use through strict cost control and optimized operations. In the future, ST Tesco will need to continue to pay attention to changes in the market environment, optimize the business structure, and improve profitability to meet complex market challenges.