SANAN(600703)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥2,907,714,084.05, representing a decrease of 6.42% compared to the previous year[5] - The net profit attributable to shareholders was ¥213,541,673.83, down 50.22% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥180,898,331.24, a decline of 265.78%[5] - The basic earnings per share were ¥0.04, reflecting a decrease of 60.00%[5] - The company's net profit for Q1 2023 was CNY 213,541,673.83, a decrease of 50.2% compared to CNY 428,946,027.77 in Q1 2022[18] - The total comprehensive income for Q1 2023 was CNY 206,571,766.36, compared to CNY 416,774,698.70 in Q1 2022, indicating a decline of 50.5%[19] - Basic and diluted earnings per share were both CNY 0.04, down from CNY 0.10 in the same period last year[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥56,681,787,124.84, a decrease of 2.92% from the end of the previous year[5] - Current assets totaled ¥20,382,819,379.73 as of March 31, 2023, down 8.0% from ¥22,134,760,902.38 at the end of 2022[14] - Cash and cash equivalents decreased to ¥8,091,185,989.25 from ¥9,526,019,899.00, a decline of 15.0%[14] - Accounts receivable increased to ¥2,739,616,180.12 from ¥3,159,500,509.46, reflecting a decrease of 13.3%[14] - Inventory rose to ¥5,921,625,758.64, up 2.0% from ¥5,807,087,276.86[14] - Non-current assets totaled ¥36,298,967,745.11, slightly up from ¥36,254,526,902.22[14] - Total liabilities decreased to ¥18,526,937,274.25 from ¥20,442,733,037.74, a reduction of 9.4%[15] - Shareholders' equity increased to ¥38,154,849,850.59 from ¥37,946,554,766.86, reflecting a growth of 0.5%[15] - Long-term borrowings rose to ¥3,449,500,000.00 from ¥3,349,500,000.00, an increase of 3.0%[15] Cash Flow - The company reported a net cash flow from operating activities of ¥237,621,892.43, a decrease of 3.94%[5] - Cash flow from operating activities generated CNY 237,621,892.43, slightly down from CNY 247,372,659.50 in Q1 2022[22] - The net cash flow from financing activities was -824,483,691.14 CNY, a significant decrease compared to 1,124,763,516.97 CNY in the previous year[23] - The total cash and cash equivalents at the end of the period amounted to 6,951,087,000.60 CNY, down from 8,267,314,460.37 CNY at the beginning of the period[23] - The net increase in cash and cash equivalents was -1,316,227,459.77 CNY, compared to a decrease of -174,496,825.80 CNY in the same period last year[23] Operating Costs and Expenses - Total operating costs for Q1 2023 were ¥2,907,196,571.07, an increase of 1.5% from ¥2,860,294,283.47 in Q1 2022[16] - The company’s total operating costs were CNY 2,417,250,184.32, slightly lower than CNY 2,425,791,784.65 in Q1 2022[18] - Research and development expenses rose to CNY 138,002,897.26, up from CNY 113,116,936.06, reflecting a growth of 22% year-over-year[18] - The company reported a decrease in investment income, with a loss of CNY 21,302,807.95 compared to a gain of CNY 35,435,323.86 in the previous year[18] - The financial expenses for the quarter were CNY 75,736,523.91, compared to CNY 76,156,185.33 in the previous year, showing a marginal decrease[18] - The company’s tax expenses decreased to CNY 29,834,797.93 from CNY 80,888,683.14, a reduction of 63.1% year-over-year[18] Shareholder Information - The top shareholder, Xiamen Sanan Electronics Co., Ltd., holds 1,213,823,341 shares, accounting for 24.33% of total shares[8] - The major reason for the decline in net profit was slow recovery in consumer demand and insufficient operating rates[7]