Shenzhen Jianyi Decoration Group Co., Ltd. (stock code: 002789) is an enterprise specializing in building decoration engineering, with business covering public building decoration, residential decoration, curtain wall engineering and other fields. The company has a high reputation and market share in the industry. In the first quarter of 2024, Jianyi Group released its latest financial report, and this article will analyze its financial data in detail.

From the asset-liability data point of view, the total assets of Jianyi Group at the end of the first quarter of 2024 were 9.54 billion yuan, a decrease of 5.62% from 10.109 billion yuan at the end of the previous year. The main reason for the decrease in assets was the decrease in notes receivable and the negative impact of operating cash flow. Notes receivable decreased by 36.78%, from 157 million yuan to 9.896 million yuan, mainly due to the reduction of expired notes receivable. At the same time, the total liabilities of the company also decreased from 9.851 billion yuan at the end of the previous year to 9.259 billion yuan, a decrease of 5.62%. The asset-liability ratio decreased from 97.45% at the end of the previous year to 97.05%, showing that the company has alleviated its debt pressure to a certain extent.

In terms of profit data, Jianyi Group achieved operating income of 851 million yuan in the first quarter of 2024, a year-on-year increase of 1.89%. However, the net profit attributable to shareholders of the listed company was 5.92 million yuan, a year-on-year decrease of 43.24%. After deducting non-recurring gains and losses, the net profit was -22.8 million yuan, which was 122.94% lower than 99.2 million yuan in the same period last year. The significant decline in net profit was mainly affected by the increase in research and development expenses and financial expenses. Research and development expenses increased by 46.98% year-on-year to 215 million yuan, mainly due to the increase in research and development personnel and materials. The financial expenses also increased by 84.68% year-on-year to 511.7 million yuan, mainly due to the increase in interest expenses caused by the increase in interest-bearing debt. In addition, although the gross margin slightly increased from 16.44% in the same period last year to 16.84%, the net margin decreased from 2.77% to 1.54%.

In terms of cash flow data, the net cash flow from operating activities of Jianyi Group in the first quarter of 2024 was -184 million yuan, a year-on-year decrease of 335.59%. This significant decrease was mainly due to the increase in payments to suppliers during the reporting period. The net cash flow from investing activities was -3.585 million yuan, a year-on-year decrease of 205.17%, mainly due to payments for the purchase of long-term assets and external investments. The net cash flow from financing activities was 140 million yuan, a year-on-year increase of 386.42%, mainly due to the increase in interest-bearing debt during the reporting period.

Overall, in the first quarter of 2024, Jianyi Group achieved growth in operating income, but faced significant pressure in terms of net profit and cash flow. The increase in research and development expenses and financial expenses had a significant impact on net profit, and the negative value of operating cash flow also showed pressure on the company's payment to suppliers. In the future, Jianyi Group needs to further optimize cost control and cash flow management while maintaining income growth, in order to improve overall profitability and financial health.