China Meheco(SH:600056)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 reached ¥12,530,663,199.18, representing a year-on-year increase of 47.08%[6] - Net profit attributable to shareholders of the listed company was ¥268,770,140.93, reflecting a growth of 9.27% compared to the same period last year[6] - The net profit after deducting non-recurring gains and losses was ¥252,398,608.34, which is an increase of 16.81% year-on-year[6] - The basic earnings per share for the period was ¥0.1797, up by 9.31% from the previous year[6] - Total revenue for Q1 2023 reached ¥12,530,663,199.18, a significant increase of 47.3% compared to ¥8,519,901,885.91 in Q1 2022[50] - Net profit for Q1 2023 was ¥320,582,342.33, compared to ¥300,838,706.54 in Q1 2022, indicating a growth of 6.5%[52] - Total comprehensive income for Q1 2023 reached CNY 320,807,864.51, compared to CNY 300,838,706.54 in Q1 2022, reflecting an increase of approximately 6.5%[53] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥38,610,045,123.38, marking a 7.55% increase from the end of the previous year[6] - The total assets as of March 31, 2023, amounted to ¥38,610,045,123.38, up from ¥35,898,612,572.08 at the end of 2022, showing a growth of 7.5%[50] - The total liabilities as of March 31, 2023, were ¥25,116,046,768.68, compared to ¥22,725,525,501.42 at the end of 2022, an increase of 10.5%[50] - The equity attributable to shareholders increased to ¥11,084,871,359.58 from ¥10,815,778,221.23, reflecting a growth of 2.5%[50] Cash Flow - The net cash flow from operating activities was negative at -¥1,491,826,630.90, indicating a significant cash outflow during the quarter[6] - Net cash flow from operating activities for Q1 2023 was -CNY 1,491,826,630.90, compared to -CNY 901,941,859.28 in Q1 2022, indicating a decline in cash flow[55] - Cash inflow from financing activities in Q1 2023 was CNY 3,007,281,481.92, significantly higher than CNY 1,305,000,000.00 in Q1 2022, reflecting an increase of approximately 130.5%[56] - The company reported a net increase in cash and cash equivalents of -CNY 1,373,200,424.42 in Q1 2023, compared to -CNY 412,753,278.60 in Q1 2022, indicating a worsening cash position[56] Operational Highlights - Operating revenue increased by 47.08% due to growth in pharmaceutical and medical device sales[26] - Research and development expenses rose by 84.91% reflecting increased investment in R&D[26] - Cash received from sales of goods and services increased by 42.02% indicating higher cash inflow from sales[26] - Long-term receivables decreased by 39.56% as a result of recovering some long-term receivables[26] - Other current assets increased by 121.67% due to an increase in deductible input tax[26] - The company reported a 204.87% increase in asset impairment losses, primarily due to increased inventory write-downs[26] - Cash paid for purchasing fixed assets increased by 124.21% indicating higher capital expenditures[26] - The company’s short-term borrowings increased by 84.08% as it repaid borrowings due within one year[26] - Other income decreased by 69.33% due to a reduction in government subsidies received[26] - The company’s cash received from tax refunds increased by 73.48% reflecting higher export tax rebates[26] Investment and Financial Instruments - The company reported a significant increase of 669.80% in derivative financial assets due to an increase in forward contracts[24] - The company reported a significant increase in investment income to ¥15,302,950.13 in Q1 2023, compared to a loss of ¥47,643.81 in Q1 2022[52]