ZHEJIANG YANKON(600261)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥762,143,558.63, representing a decrease of 20.85% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥58,224,468.25, an increase of 1,663.07% year-on-year[5]. - The net profit after deducting non-recurring gains and losses was ¥19,820,894.33, down by 7.13% compared to the previous year[5]. - The company's operating revenue for Q1 2023 was approximately ¥762.14 million, a decrease of 20.8% compared to ¥962.88 million in Q1 2022[19]. - Total operating costs for Q1 2023 were approximately ¥734.84 million, down 21.8% from ¥938.71 million in Q1 2022[19]. - The net profit for Q1 2023 was approximately ¥59.18 million, significantly higher than the net profit of ¥2.02 million in Q1 2022, representing an increase of 2845.5%[20]. - The profit before tax for Q1 2023 was approximately ¥70.80 million, compared to ¥5.50 million in Q1 2022, indicating a substantial increase[20]. - The total comprehensive income for Q1 2023 was approximately ¥56.80 million, compared to ¥2.59 million in Q1 2022, reflecting a significant increase[20]. - The company's tax expenses for Q1 2023 were approximately ¥11.62 million, compared to ¥3.48 million in Q1 2022, indicating an increase in tax burden[20]. - The basic earnings per share for Q1 2023 were ¥0.04, unchanged from the previous year[20]. Cash Flow and Investments - The company's cash flow from operating activities was negative at -¥12,012,279.22, indicating cash outflow[5]. - The company's cash flow from operating activities showed a net outflow of approximately ¥12.01 million in Q1 2023, an improvement from a net outflow of ¥47.43 million in Q1 2022[22]. - Cash inflow from investment activities totaled approximately 793.38 million in the previous year[23]. - Cash outflow for investment activities was approximately 810.63 million, resulting in a net cash flow from investment activities of -17.25 million last year[23]. - Cash inflow from financing activities increased significantly to approximately 17.66 million in the previous year[23]. - Net cash flow from financing activities was approximately 37.86 million in the previous year[23]. - The total cash and cash equivalents at the end of the period stood at approximately 1.89 billion at the beginning of the period[23]. - The company reported a negative impact of approximately 4.56 million, down from 6.69 million, compared to $11.63 million in the previous year[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,386,843,406.87, a decrease of 3.27% from the end of the previous year[6]. - Cash and cash equivalents as of March 31, 2023, were RMB 1,881,717,490.14, down from RMB 1,971,455,647.23 at the end of 2022, representing a decrease of 4.5%[13]. - Accounts receivable decreased to RMB 698,867,412.07 from RMB 753,663,881.45, a decline of 7.3%[13]. - Inventory decreased to RMB 557,621,235.07 from RMB 649,964,938.07, reflecting a reduction of 14.2%[13]. - Total assets as of March 31, 2023, were RMB 5,386,843,406.87, down from RMB 5,569,227,494.95, indicating a decrease of 3.3%[15]. - Total liabilities decreased to RMB 1,727,599,005.22 from RMB 1,954,780,733.19, a reduction of 11.6%[15]. - The company's equity attributable to shareholders increased to RMB 3,630,641,386.38 from RMB 3,583,673,051.96, an increase of 1.3%[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 40,436[10]. - The largest shareholder, Century Sunshine Holdings Group Co., Ltd., holds 33.7% of the shares[10]. - The company held 39,478,064 shares in its repurchase account as of March 31, 2023[11]. Research and Development - Research and development expenses for Q1 2023 were approximately ¥25.17 million, a decrease of 14.7% from ¥29.42 million in Q1 2022[19]. Financial Position - The weighted average return on equity increased by 1.52 percentage points to 1.61%[6]. - The company reported a significant increase in accounts receivable financing by 283.32%, primarily due to an increase in unsettled bank acceptance bills[8]. - The company experienced a 35.39% decrease in financial expenses, attributed to reduced exchange losses and increased interest income[8]. - The company's long-term equity investments were RMB 13,959,458.28, slightly down from RMB 14,132,440.25, a decrease of 1.2%[14]. - The company has not adopted new accounting standards or interpretations that would affect the financial statements for the current year[25].