HXGF(603115)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 434,798,550.92, representing a decrease of 7.78% compared to the same period last year[5]. - The net profit attributable to shareholders was CNY 12,714,400.64, down 80.08% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 6,575,152.28, a decline of 88.59% compared to the previous year[5]. - Basic earnings per share were CNY 0.05, down 81.48% from the same period last year[5]. - The net profit for Q1 2023 was ¥12,714,400.64, a decrease of 80.17% compared to ¥63,827,729.92 in Q1 2022[23]. - Total revenue from operating activities was ¥333,192,592.18, down 10% from ¥370,184,871.89 in the same period last year[26]. - The total comprehensive income for Q1 2023 was ¥10,561,302.70, down 83.32% from ¥63,251,619.74 in Q1 2022[23]. - Basic and diluted earnings per share were both ¥0.05, compared to ¥0.27 in the same quarter last year[23]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 23,831,232.89, a decrease of 274.91% year-on-year[5]. - The company reported a net cash outflow from operating activities of ¥23,831,232.89, compared to a net inflow of ¥13,625,201.59 in Q1 2022[26]. - Cash and cash equivalents as of March 31, 2023, were RMB 408,948,505.98, down from RMB 681,445,461.98 at the end of 2022, representing a decrease of 40%[17]. - The cash and cash equivalents at the end of Q1 2023 were ¥230,542,819.56, down from ¥475,570,528.22 at the end of Q1 2022[27]. - Investment activities resulted in a net cash outflow of ¥254,536,223.90, a significant decline from a net inflow of ¥69,820,826.82 in the previous year[27]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,397,582,799.03, a decrease of 0.92% from the end of the previous year[6]. - Total assets as of March 31, 2023, amounted to RMB 2,397,582,799.03, a decrease from RMB 2,419,752,002.60 at the end of 2022[19]. - Total liabilities as of March 31, 2023, were RMB 356,901,241.46, down from RMB 389,631,747.73 at the end of 2022, indicating a reduction of 8.4%[19]. - The company's total equity as of March 31, 2023, was RMB 2,040,681,557.57, an increase from RMB 2,030,120,254.87 at the end of 2022[19]. Operational Insights - The decline in revenue and profit was primarily due to weak consumer market demand and a decrease in product prices[10]. - The company reported a significant drop in cash flow from sales, which contributed to the negative cash flow from operating activities[11]. - The company's inventory as of March 31, 2023, was RMB 214,820,901.19, slightly down from RMB 220,448,665.77 at the end of 2022[17]. - Accounts receivable as of March 31, 2023, were RMB 358,291,806.73, compared to RMB 348,414,345.78 at the end of 2022, showing an increase of 2.5%[17]. - The company incurred management expenses of ¥20,506,191.16, an increase of 18.67% from ¥17,307,237.76 in Q1 2022[22]. - Research and development expenses were ¥29,596,927.90, a decrease of 6.03% from ¥31,491,300.81 in the previous year[22]. - The company is focusing on enhancing its product development and market expansion strategies to improve future performance[20]. - The company reported a net profit margin for Q1 2023, calculated from the operating revenue and costs, indicating profitability despite the revenue decline[21]. Return on Equity - The weighted average return on equity was 0.62%, a decrease of 2.56 percentage points compared to the previous year[6].