Sunyes Manufacturing (stock code: 002388) is a company specializing in electronic component services, mainly covering the manufacturing and sales of electronic components. The company has strong competitiveness in the industry and has won the trust of many customers with its advanced technology and high-quality services. In the first quarter of 2024, Sunyes Manufacturing released the latest financial report. This article will conduct a detailed and in-depth analysis of its financial data.

From the balance sheet data, Sunyes Manufacturing's total assets at the end of the first quarter of 2024 was 3.154 billion yuan, an increase of 4.69% from the end of the previous year of 3.012 billion yuan. Among them, monetary funds increased by 42.63%, reaching 329 million yuan, mainly due to the increase in financing in this reporting period. Accounts receivable financing and other receivables increased by 31.93% and 109.14%, respectively, reflecting an increase in financing-related bills receivable and accounts payable during the reporting period. In terms of liabilities, the total liabilities at the end of the period was 1.6 billion yuan, an increase of 9.33% from the beginning of the period of 1.463 billion yuan, and the asset-liability ratio increased from 48.58% to 50.73%. Short-term loans increased by 55.07%, reaching 691 million yuan, mainly due to the increase in financing obtained in this reporting period. In addition, the deferred tax assets increased by 54.57% to 26.25 million yuan, mainly due to the recognition of the ability to compensate for losses in this reporting period, resulting in an increase in deferred tax assets.

In terms of profit data, Sunyes Manufacturing's operating income in the first quarter of 2024 was 461 million yuan, a slight increase of 0.61% from the same period last year's 458 million yuan. Although operating income has increased, net profit attributable to shareholders of the listed company has dropped significantly by 57.18%, reaching only 4.32 million yuan. This is mainly due to the increase in operating costs and management expenses in this period, especially the management expenses increased by 52.38%, reaching 23.94 million yuan, mainly due to the recognition of stock-based incentive restricted stock expenses in this reporting period. However, the net profit attributable to shareholders of the listed company excluding non-recurring gains and losses increased by 30.76% to 79.9 million yuan, indicating that the company's profitability in its main business has improved. The gross margin increased from 8.82% in the same period last year to 10.32%, indicating that the company has achieved certain results in cost control.

In terms of cash flow data, the net cash flow from operating activities of Sunyes Manufacturing in the first quarter of 2024 was -41.95 million yuan, a significant decrease of 133.17% from the same period of the previous year of 126 million yuan. The main reason is that the company merged new businesses and increased credit sales, leading to an increase in accounts receivable. In addition, the net cash flow from investing activities was -94.19 million yuan, an improvement of 60.74% from the same period of the previous year's -240 million yuan, mainly due to the transfer of equity of New Asia Shanshan Payment in the same period of the previous year. The net cash flow from financing activities was 235 million yuan, a significant increase from the same period of the previous year's -9.367 million yuan, mainly due to the increase in borrowings obtained in this reporting period and the overall impact of the repayment of loans decreased from the same period last year.

Overall, Sunyes Manufacturing's financial performance in the first quarter of 2024 shows a certain degree of complexity. Although operating income and net profit excluding non-recurring gains and losses have increased, the decline in net profit and net cash flow from operating activities reflects that the company still faces challenges in cost control and cash flow management. In the future, the company needs to further optimize its cost structure and strengthen its cash flow management to improve its overall financial health.