QSZY(600103)2023-04-27 16:00Revenue and Profit Performance - Revenue for the first quarter of 2023 was RMB 703,345,414.21, a decrease of 9.90% year-over-year[4] - Net profit attributable to shareholders of the listed company was RMB 59,623,095.68, down 7.39% compared to the same period last year[4] - Total revenue for Q1 2023 was RMB 703.35 million, a decrease of 9.9% compared to RMB 780.66 million in Q1 2022[19] - Net profit for Q1 2023 was RMB 63.78 million, down 7.9% from RMB 69.28 million in Q1 2022[19] - Revenue for Q1 2023 was 479,959,781.59, a decrease from 538,487,020.31 in Q1 2022[26] - Net profit for Q1 2023 was 47,166,709.78, down from 58,700,287.90 in Q1 2022[26] - Operating profit for Q1 2023 was 61,423,482.85, compared to 76,657,990.63 in Q1 2022[26] Cash Flow and Operating Activities - Net cash flow from operating activities was negative RMB 83,178,455.92, a significant decrease of 174.62% year-over-year[4] - The decrease in operating cash flow was mainly due to a year-over-year reduction in sales proceeds received during the reporting period[7] - Net cash flow from operating activities in Q1 2023 was negative RMB 83.18 million, compared to positive RMB 111.46 million in Q1 2022[21] - Total cash inflow from operating activities in Q1 2023 was RMB 260.52 million, down 32.7% from RMB 387.17 million in Q1 2022[28] - Net cash flow from operating activities in Q1 2023 was negative RMB 116.93 million, compared to positive RMB 74.70 million in Q1 2022[28] Assets and Liabilities - Total assets at the end of the reporting period were RMB 5,866,520,967.17, an increase of 0.73% compared to the end of the previous year[4] - Equity attributable to shareholders of the listed company was RMB 3,924,021,339.45, up 1.54% from the end of the previous year[4] - The company's total assets as of March 31, 2023, amounted to RMB 5,866,520,967.17, with current assets totaling RMB 3,676,278,097.64 and non-current assets at RMB 2,190,242,869.53[16] - Total liabilities as of Q1 2023 were RMB 1.64 billion, a slight decrease from RMB 1.66 billion in the previous quarter[17] - Total equity as of Q1 2023 was RMB 4.23 billion, an increase from RMB 4.16 billion in the previous quarter[17] - Total assets at the end of Q1 2023 were RMB 4.861 billion, a slight decrease of 0.1% from RMB 4.866 billion at the end of 2022[23] - Total liabilities decreased to 1,372,013,286.01 from 1,424,607,461.72 compared to the previous period[24] - Total owner's equity increased to 3,488,559,500.39 from 3,441,392,790.61[24] Earnings and Shareholder Equity - Basic earnings per share were RMB 0.0270, a decrease of 7.39% year-over-year[4] - Weighted average return on equity was 1.53%, a decrease of 0.22 percentage points[4] - Basic earnings per share for Q1 2023 were RMB 0.027, down from RMB 0.029 in Q1 2022[19] - The company's 2022 annual profit distribution plan proposes a cash dividend of RMB 0.50 per share, totaling RMB 110,616,452.35, representing 53.25% of the net profit attributable to the parent company[12] Investments and Financial Activities - Non-recurring gains and losses amounted to RMB 11,240,932.90, primarily due to gains from financial asset investments[6] - The company's subsidiary, Xian Shui Pharmaceutical, is authorized to use idle funds of up to RMB 200 million for cash management, with a maximum investment period of 12 months[13] - The company's subsidiary, Shenzhen Hengbaotong, is authorized to use idle funds of up to RMB 50 million for cash management, with a maximum investment period of 12 months[14] - Cash received from investment returns in Q1 2023 was RMB 1.006 billion, a decrease of 36.0% compared to RMB 1.573 billion in Q1 2022[21] - Cash used for investments in Q1 2023 was RMB 980 million, a decrease of 37.4% compared to RMB 1.566 billion in Q1 2022[21] - Net cash flow from financing activities in Q1 2023 was RMB 4.95 million, a significant decrease from RMB 177.67 million in Q1 2022[21] - Cash received from investment returns in Q1 2023 was RMB 1.01 billion, a decrease of 36.0% from RMB 1.57 billion in Q1 2022[28] - Cash outflow for investments in Q1 2023 was RMB 980.00 million, down 36.4% from RMB 1.54 billion in Q1 2022[28] - Net cash flow from investing activities in Q1 2023 was RMB 18.83 million, a decrease of 31.1% from RMB 27.31 million in Q1 2022[28] - Cash received from borrowings in Q1 2023 was RMB 100.00 million, down 61.5% from RMB 260.00 million in Q1 2022[28] - Net cash flow from financing activities in Q1 2023 was RMB 6.37 million, a significant decrease of 96.2% from RMB 169.16 million in Q1 2022[28] Subsidiaries and Legal Matters - The company's subsidiary, Guangzhou Qingzhi Packaging Materials Co., Ltd., won a lawsuit with a claim amount of RMB 9,114,900 and is expected to receive RMB 10,014,590.54 from the execution of the judgment[11] Shareholder Information - The top shareholder, Fujian Energy Group Co., Ltd., held 220,338,982 shares, representing 9.56% of the total shares[8] - The company's share repurchase account holds 93,488,760 shares, representing 4.05% of the total shares as of the end of the reporting period[9] R&D and Operating Costs - R&D expenses increased by 56.1% to RMB 12.46 million in Q1 2023 compared to RMB 7.98 million in Q1 2022[19] - Total operating costs for Q1 2023 were RMB 632.24 million, a decrease of 10.1% compared to RMB 703.30 million in Q1 2022[19] Financial Metrics and Ratios - The company's cash and cash equivalents decreased from RMB 1,113,341,964.15 at the end of 2022 to RMB 1,049,877,212.51 as of March 31, 2023[16] - The company's trade receivables increased significantly from RMB 103,119,930.90 at the end of 2022 to RMB 326,204,037.87 as of March 31, 2023[16] - The company's inventory decreased from RMB 599,133,393.97 at the end of 2022 to RMB 535,033,449.11 as of March 31, 2023[16] - The company's short-term borrowings decreased from RMB 432,107,898.32 at the end of 2022 to RMB 412,052,715.82 as of March 31, 2023[16] - Long-term borrowings increased by 21.0% to RMB 171.36 million in Q1 2023 from RMB 141.56 million in the previous quarter[17] - Accounts payable increased by 22.2% to RMB 339.76 million in Q1 2023 from RMB 278.04 million in the previous quarter[17] - Contract liabilities decreased by 55.4% to RMB 21.84 million in Q1 2023 from RMB 48.91 million in the previous quarter[17] - Sales revenue from goods and services in Q1 2023 was RMB 433.91 million, a decrease of 29.6% compared to RMB 616.21 million in Q1 2022[21] - Monetary funds at the end of Q1 2023 were RMB 694.99 million, a decrease of 11.7% from RMB 786.82 million at the end of 2022[23] - Trade receivables at the end of Q1 2023 were RMB 114.13 million, a significant increase from RMB 3.73 million at the end of 2022[23] - Financial expenses decreased to 1,067,618.24 from 3,451,823.66 year-over-year[26] - Interest income increased to 2,626,094.84 from 1,060,076.35[26] - Other income rose to 1,400,484.77 from 321,910.40[26] - Investment income dropped to 6,619,339.62 from 13,492,960.70[26] - Credit impairment losses increased to -2,489,897.88 from -1,144,790.05[26] - Sales revenue from goods and services in Q1 2023 was RMB 254.76 million, a decrease of 33.2% compared to RMB 381.46 million in Q1 2022[28] - Net increase in cash and cash equivalents in Q1 2023 was negative RMB 91.84 million, compared to positive RMB 271.16 million in Q1 2022[28] - Ending cash and cash equivalents balance as of March 31, 2023 was RMB 689.90 million, an increase of 45.9% from RMB 472.98 million as of March 31, 2022[28]