Financial Performance - Total revenue for Q1 2023 was CNY 29,038,525,580.90, representing a decrease of 13.63% compared to the same period last year[5]. - Net profit attributable to shareholders was CNY 174,233,291.21, down 89.34% year-on-year[5]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -216,996,763.35, a decline of 116.65%[5]. - Basic and diluted earnings per share were both CNY 0.02, reflecting a decrease of 88.89%[5]. - The company reported a net profit of CNY 175,642,700.17 for Q1 2023, compared to CNY 1,631,853,776.37 in Q1 2022, indicating a significant drop[26]. - In Q1 2023, the total comprehensive income attributable to the parent company was -199,413,587.19 RMB, a significant decrease from 1,893,741,669.47 RMB in Q1 2022[28]. - The weighted average return on equity was 0.27%, a decrease of 2.31 percentage points[41]. Cash Flow - Net cash flow from operating activities was CNY -8,204,257,916.44, indicating a significant cash outflow[5]. - Cash inflow from operating activities in Q1 2023 was 35,925,215,882.43 RMB, compared to 39,283,723,593.98 RMB in Q1 2022, reflecting a decline of approximately 6.1%[30]. - Cash outflow from operating activities in Q1 2023 totaled 44,129,473,798.87 RMB, down from 50,756,106,633.02 RMB in Q1 2022, resulting in a net cash flow from operating activities of -8,204,257,916.44 RMB[32]. - Cash inflow from investing activities in Q1 2023 was 6,062,909,597.30 RMB, compared to 7,958,782,245.32 RMB in Q1 2022[34]. - Cash inflow from financing activities in Q1 2023 was 7,437,606,472.75 RMB, slightly up from 7,350,090,494.25 RMB in Q1 2022[35]. - Net cash flow from financing activities in Q1 2023 was 2,245,799,940.61 RMB, down from 5,550,022,396.40 RMB in Q1 2022[35]. - The ending cash and cash equivalents balance as of Q1 2023 was 21,701,995,540.90 RMB, compared to 23,204,765,000.29 RMB at the end of Q1 2022[35]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 178,098,156,581.98, down 3.92% from the end of the previous year[5]. - The total liabilities decreased from CNY 120,141,392,357.77 as of December 31, 2022, to CNY 114,761,195,173.18 as of March 31, 2023, a reduction of approximately 4.3%[23]. - Current liabilities totaled CNY 90,644,042,817.25 as of March 31, 2023, down from CNY 95,802,048,905.40 at the end of 2022, indicating a decrease of 5.5%[22]. - Long-term borrowings slightly decreased to CNY 15,192,814,046.07 from CNY 15,405,655,852.03, a decline of 1.4%[23]. - As of March 31, 2023, the company's total current assets amounted to RMB 98,709,707,763.27, a decrease from RMB 107,680,723,551.36 as of December 31, 2022, representing a decline of approximately 8.99%[20]. - The company's cash and cash equivalents decreased from RMB 35,773,467,830.28 on December 31, 2022, to RMB 26,237,783,140.52 on March 31, 2023, reflecting a reduction of about 26.67%[20]. - The total non-current assets increased from RMB 77,676,576,921.71 as of December 31, 2022, to RMB 79,388,448,818.71 as of March 31, 2023, indicating a growth of approximately 2.20%[21]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 200,972[9]. - The largest shareholder, Baoding Innovation Great Wall Asset Management Co., Ltd., held 60.27% of the shares[9]. - The top ten unrestricted shareholders include Baoding Innovation Great Wall Asset Management Co., Ltd. holding 5,115,000,000 shares, accounting for a significant portion of the total shares[10]. - HKSCC Nominees Limited holds 2,302,743,991 shares in A-shares and H-shares, indicating strong foreign investment interest[10]. - The company has not disclosed any related party relationships among the top shareholders, ensuring transparency in ownership[10]. - The total number of shares held by the top ten unrestricted shareholders reflects a concentrated ownership structure, which may impact governance and decision-making[10]. Stock Incentive Plans - The company has implemented various stock incentive plans, including the 2020 and 2021 stock option incentive plans, with announcements made on multiple dates throughout 2023[11][12][14]. - The company has completed the repurchase and cancellation of part of the restricted stock from its 2020 stock option incentive plan[14]. - The company is actively managing its stock options and has made several announcements regarding the results of these plans, indicating a focus on shareholder value[13][15]. - The company continues to engage in stock repurchase activities as part of its strategy to enhance shareholder returns[12]. - The company has authorized to repurchase up to 10% of its H-shares, equivalent to 251,119,900 shares, as per the resolution passed in the shareholder meetings held on February 8, 2023[16]. - The company repurchased 192,423,000 H-shares in February 2023, with a total expenditure of HKD 2,197,847,281, completing the cancellation of these shares on March 9, 2023[16]. Future Outlook - The company is currently in a product restructuring phase, impacting profitability due to new product launches and investments in new energy brand development[7]. - The company plans to focus on market expansion and new product development in the upcoming quarters[25].
长城汽车(02333) - 2023 Q1 - 季度业绩