Revenue and Profit - The company's revenue for Q1 2023 was ¥233,308,212.68, a decrease of 17.63% compared to ¥283,244,011.97 in the same period last year[19] - Net profit attributable to shareholders for Q1 2023 was ¥211,972,548.35, down 20.26% from ¥265,833,051.05 year-on-year[19] - The total comprehensive income for the first quarter was ¥212,811,577.78, compared to ¥266,158,773.57 in the same period last year[44] - Basic and diluted earnings per share both decreased by 20.00% to ¥0.28 from ¥0.35 year-on-year[19] - Net profit decreased from ¥265,161,856.18 to ¥212,248,358.75, a decline of about 20%[58] - The total profit before tax decreased from ¥314,501,080.68 to ¥245,253,467.84, a decline of about 22%[58] Cash Flow - The net cash flow from operating activities was negative at -¥22,743,461.52, compared to a positive ¥40,565,030.67 in the same period last year[19] - The company's cash flow from operating activities was negative at ¥22,743,461.52, compared to a positive cash flow of ¥40,565,030.67 in the previous year[35] - Cash and cash equivalents at the end of the period increased to ¥709,515,756.18 from ¥558,320,381.77, marking a rise of approximately 27%[61] - Investment activities generated a net cash inflow of ¥178,451,080.91, contrasting with a net outflow of -¥111,499,770.06 in the previous period[61] Assets and Liabilities - The company's total assets increased by 2.30% to ¥7,376,373,305.42 from ¥7,210,714,025.00 at the end of the previous year[19] - Total current assets increased to ¥979,775,415.25 from ¥844,778,037.40, reflecting a growth of 15.94%[56] - Total liabilities decreased to ¥646,887,884.48 from ¥694,040,181.84, a reduction of 6.77%[57] - Total equity attributable to shareholders increased to ¥6,708,932,553.33 from ¥6,496,396,785.95, a growth of 3.27%[57] Expenses - Research and development expenses rose sharply by 1120.41% to ¥2,924,232.56, primarily due to increased investment by the company's subsidiaries[3] - Sales expenses decreased by 43.20% to ¥2,313,805.41 from ¥4,073,532.80 due to reduced sales expenses by subsidiaries[51] - Total operating costs decreased from ¥204,159,261.73 to ¥187,894,024.81, a reduction of approximately 7.4%[58] - The company’s financial expenses showed a slight increase in interest expenses from ¥2,566,555.16 to ¥2,894,906.62, an increase of approximately 12.8%[58] Receivables and Payables - Accounts receivable increased by 167.59% year-on-year, reaching ¥49,220,410.38, primarily due to increased short-term credit sales to strategic customers[33] - The company reported a significant decrease in other receivables, down 74.17% to ¥6,303,760.52, mainly due to the collection of equity payments from disposed investments[33] - The company’s accounts payable decreased by 43.24% to ¥70,498,320.69, primarily due to payments made on prior payables[33] - Accounts receivable increased significantly to ¥49,220,410.38 from ¥18,393,779.90, a rise of 167.06%[56] Other Financial Metrics - The weighted average return on net assets decreased by 1.20 percentage points to 3.21% from 4.41% year-on-year[19] - The company received government subsidies amounting to ¥5,494,168.48, mainly from VAT refunds and government support funds for resource utilization[19] - The company reported a significant increase in other income, rising from ¥4,215,815.09 to ¥6,077,310.95, an increase of about 44.2%[58] - The company’s construction in progress increased by 67.16% to ¥7,474,978.78, attributed to increased investment in environmental projects[33] - Non-current assets totaled ¥6,396,597,890.17, slightly up from ¥6,365,935,987.60, an increase of 0.48%[56]

编号：2017-01 1 证券代码：000935 证券简称：四川双马 四川双马水泥股份有限公司投资者关系活动记录表 | --- | --- | --- | |-----------------------------|-------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Group 1: Company Overview - The main business includes traditional cement operations and investment-related activities. The cement factory has been reduced from four to one, with a strong regional advantage and good development prospects [1]. - The company has invested in two funds and a smart mobility fund, focusing on direct investments in promising projects [1]. Group 2: Cement Business Insights - The cement business has stable cash flow and will be managed according to the company's development strategy [2]. - The company operates in Yibin City, Sichuan Province, which is a key economic area supporting industrial development [2]. Group 3: Fund Management and Investment Strategy - The company participates as a General Partner (GP) in two funds, with total commitments of ¥10.8 billion and ¥6.7 billion respectively [2]. - The investment focus of the funds includes advanced manufacturing, semiconductors, and new energy sectors [2][4]. - The management team consists of 30-40 professionals dedicated to fund management, ensuring quality project selection [3]. Group 4: Financial Performance and Projections - The management fee for the funds is approximately 2% of the fund size, with expected revenue of ¥300-400 million this year [3]. - The company aims to create profits for shareholders through strategic investments and project exits, including IPOs and mergers [3]. Group 5: Investment Criteria and Market Position - The company avoids investing in projects that are cash-intensive with no visible returns, focusing instead on sectors where it has research capabilities [5]. - Investment decisions are based on thorough market research and team judgment, considering both light and heavy asset opportunities [5].

四川双马水泥股份有限公司 投资者关系活动记录表 编号：2021-2 | --- | --- | --- | |---------------------------|---------------------------------------------------|-----------------------------------------------------------------| | | | | | 投资者关系活动类别 | √特定对象调研 | □分析师会议 | | | □媒体采访 | □业绩说明会 | | | □新闻发布会 | □路演活动 | | | □现场参观 | | | | □其他（请文字说明其他活动内容） | | | 参与单位名称及人员 | 中信建投证券股份有限公司 民生加银基金管理有限公司 | 副总裁 张亦弛 投资经理 徐文琪 | | 姓名 | 中国国际金融股份有限公司 | 电力设备与新能源分析员 宋丽凌 | | | 华西证券股份有限公司 | 纺织服装/教育行业首席分析师 唐爽爽 | | 时间 | 2021年2月23 日 | | | | | | | 地点 上市公司接待人员姓 | 电 ...

Group 1: Company Overview - Sichuan Shuangma Cement Co., Ltd. is a publicly listed company primarily engaged in cement production, with a stable operational performance and good cash flow [1] - The company has a cement production capacity of approximately 2.5 million tons per year and an aggregate production line with an annual capacity of about 6 million tons [1] - The company has initiated two investment funds with a total scale of 17.5 billion RMB, focusing on various sectors including advanced manufacturing and new energy [2] Group 2: Investment Funds - The two funds, He Xie Jin Hong and He Xie Jin Yu, have investment directions that include internet, cultural consumption, and advanced manufacturing sectors [2] - The company earns management fees of 2% based on the subscribed capital of the funds, a 10% performance share as a GP, and investment returns as an LP [2] - The company has invested 1.08 billion RMB in He Xie Jin Hong and 1 billion RMB in He Xie Jin Yu [2] Group 3: Future Plans and Strategy - The company plans to continue developing its cement business while focusing on industries that meet the needs of the public [3] - The investment team consists of over 40 experienced professionals, indicating strong operational capabilities [3] - Future fund management will follow a dual GP model, with ongoing development of new funds based on market needs [3]

四川双马水泥股份有限公司 投资者关系活动记录表 编号：2021-5 | --- | --- | --- | --- | |--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

四川双马水泥股份有限公司 投资者关系活动记录表 编号：2021-4 | --- | --- | --- | |-------------------------|--------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------| | | | | | 投资者关系活动类别 | √特定对象调研 | □分析师会议 | | | □媒体采访 | □业绩说明会 | | | □新闻发布会 | □路演活动 | | | □现场参观 | | | | □其他（请文字说明其他活动内容） | | | 参与单位名称及人员 姓名 | 华夏基金管理有限公司 嘉实基金管理有限公司 建信基金管理有限责任公司 工银瑞信基金管 ...

四川双马水泥股份有限公司 投资者关系活动记录表 编号：2021-6 | --- | --- | --- | --- | |-----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

Group 1: Financial Performance - In the first three quarters of 2021, the company achieved a net profit attributable to shareholders of 650 million, a decrease of 38.90% year-on-year due to non-recurring gains from the previous year [1] - The operating revenue for the same period was approximately 850 million, down 27.22% year-on-year [1] - The net profit after deducting non-recurring gains for the first three quarters was 638 million, an increase of 31.92% year-on-year [2] Group 2: Business Operations - The company’s cement prices have surged to historical highs due to factors such as energy consumption controls and rising coal prices, positively impacting the fourth quarter's performance [2] - A new aggregate production line was launched in the third quarter, increasing overall aggregate capacity to 5 million tons per year, contributing to performance improvements [2] Group 3: Investment Strategy - The company is focusing on investment business, managing two funds and targeting strong-performing funds for investment, including the Harmony Growth Phase III Fund [2] - The establishment of the Beijing Stock Exchange is expected to provide new exit channels for the company's investment projects [3] Group 4: Market Conditions - The construction materials industry has faced challenges due to environmental regulations and rising coal prices, leading to a slight decline in performance compared to the previous year [2] - The company’s investment in SEG Holding through debt-to-equity swaps is aimed at capitalizing on the growing vocational education sector [3]