Lion(SH:605358)2023-04-21 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 63,223.65 million, a decrease of 16.40% compared to the same period last year[6]. - The net profit attributable to shareholders was CNY 3,443.71 million, down 85.53% year-on-year[6]. - The net profit after deducting non-recurring gains and losses was CNY 2,349.16 million, a decline of 89.94% compared to the previous year[6]. - Total operating revenue for Q1 2023 was ¥632,236,521.47, a decrease of 16.4% compared to ¥756,301,050.52 in Q1 2022[36]. - In Q1 2023, the company reported a net profit of ¥18,286,264.87, a significant decrease from ¥248,407,511.12 in Q1 2022, reflecting a decline of approximately 92.64%[38]. - The total profit before tax for Q1 2023 was ¥8,432,707.89, a drastic decline from ¥280,537,086.02 in Q1 2022, indicating a decrease of about 97.00%[38]. - The net profit attributable to shareholders of the parent company for Q1 2023 is ¥34,437,067.20, a decrease from ¥238,011,304.71 in the same period last year, representing a decline of approximately 85.5%[50]. - The total comprehensive income for Q1 2023 is ¥18,286,264.87, down from ¥248,407,511.12 in Q1 2022, indicating a decrease of about 92.6%[50]. - Basic and diluted earnings per share for Q1 2023 are both ¥0.05, compared to ¥0.52 in the same period last year, reflecting a decline of approximately 90.4%[50]. Cash Flow and Investments - The net cash flow from operating activities increased by CNY 96,980.30 million, with significant sales collection and tax refunds contributing to this growth[11]. - Operating cash flow for Q1 2023 was ¥96,980,282.33, a turnaround from a negative cash flow of ¥41,754,606.32 in Q1 2022[42]. - The company reported a significant increase in cash outflows from investment activities, decreasing by CNY 92,586 million compared to the same period last year, primarily due to acquisitions[11]. - The company experienced a net cash outflow from investing activities of ¥650,786,811.82 in Q1 2023, an improvement from a larger outflow of ¥1,576,643,762.07 in Q1 2022[43]. Assets and Liabilities - The company's total assets at the end of Q1 2023 were CNY 1,812,947.79 million, a decrease of 2.22% from the end of the previous year[23]. - The total assets as of the reporting date amount to ¥18,129,477,912.23, a decrease from ¥18,541,623,804.18 at the end of the previous period, representing a reduction of about 2.2%[46]. - The company's total equity increased slightly to ¥9,842,942,339.40 from ¥9,821,305,548.08, indicating a marginal growth[36]. - The total liabilities decreased to ¥8,286,535,572.83 from ¥8,720,318,256.10, reflecting a reduction of 5.0%[36]. - Current liabilities total ¥1,546,531,085.53, down from ¥1,993,977,829.56, indicating a decrease of approximately 22.4%[46]. - Non-current liabilities due within one year decreased by 49.78% to ¥24,505,000,000 from previous levels, primarily due to repayments[25]. - Non-current liabilities include long-term borrowings of ¥1,982,912,555.56, slightly down from ¥1,989,191,595.23, showing a decrease of about 0.4%[46]. - The company reported a decrease in accounts payable from ¥930,264,965.64 to ¥770,928,050.75, a decline of about 17.1%[46]. Expenses - The company's management expenses increased by 75.14%, primarily due to new share-based payments and the impact of the merger with Jiaxing Jinruihong[11]. - The financial expenses rose by 305.88%, mainly due to interest expenses from convertible bonds issued in November 2022[11]. - Total operating costs increased to ¥582,459,261.80 in Q1 2023, up 23.8% from ¥470,335,785.75 in Q1 2022[36]. - Research and development expenses increased to ¥65,316,104.15 in Q1 2023, compared to ¥61,925,165.81 in Q1 2022, marking a rise of approximately 7.71%[38]. - Financial expenses surged to ¥39,624,439.98 in Q1 2023, compared to ¥9,762,513.31 in Q1 2022, reflecting an increase of about 304.06%[38]. - The company reported a substantial increase in tax expenses, amounting to -¥9,853,556.98 in Q1 2023, compared to ¥32,129,574.90 in Q1 2022, highlighting a shift in tax liabilities[38]. - The company reported a significant increase in sales expenses to ¥2,677,771.58 in Q1 2023, compared to ¥2,545,134.31 in Q1 2022, reflecting a rise of approximately 5.17%[38]. Balance Sheet Items - Accounts receivable rose by 12.7% to ¥724,306,179.99 from ¥643,025,333.26 year-over-year[33]. - Inventory increased by 5.2% to ¥1,406,469,912.38 compared to ¥1,337,242,419.64 at the end of Q1 2022[33]. - Cash and cash equivalents decreased to ¥3,281,349,999.33 from ¥3,964,742,724.79, a decline of 17.3%[33]. - The company reported a significant increase in notes receivable, which rose by 211.61% to ¥71,780,362.73 from ¥23,035,313.70[25]. - Prepayments increased by 38.00% to ¥96,497,314.52 from ¥69,926,561.61 year-over-year[25]. - Deferred tax assets increased to ¥220,367,247.30 from ¥195,011,335.60, reflecting an increase of approximately 13.0%[46]. - The total non-current assets increased to ¥11,860,616,111.13 from ¥11,620,493,592.30, representing an increase of approximately 2.1%[46]. Strategic Developments - The company has not reported any new product launches or significant market expansion strategies during this quarter[47].