2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥53.43 billion, representing an increase of 18.25% compared to ¥41.10 billion in the same period last year[3]. - The net profit attributable to shareholders for Q1 2023 was ¥1.86 billion, a significant increase of 68.29% from ¥1.05 billion in the previous year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1.74 billion, up 94.14% from ¥897 million in the same period last year[3]. - Basic and diluted earnings per share for Q1 2023 were both ¥0.21, reflecting a 69.94% increase from ¥0.12 in the same period last year[3]. - The company reported a significant increase in operating profit, reaching ¥257.39 million, a 52.88% rise compared to ¥168.35 million in the previous year[6]. - Net profit for Q1 2023 was RMB 2.25 billion, representing a 57.0% increase compared to RMB 1.43 billion in Q1 2022[13]. - Operating profit for Q1 2023 was RMB 2.57 billion, an increase of 53.0% from RMB 1.68 billion in Q1 2022[13]. - The total comprehensive income attributable to the parent company for Q1 2023 was approximately CNY 2.39 billion, compared to CNY 1.47 billion in Q1 2022, reflecting a 62.5% increase[14]. - The company reported a total comprehensive income of approximately CNY 2.86 billion for Q1 2023, compared to CNY 2.23 billion in Q1 2022, reflecting a 28.5% increase[14]. Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥471.62 million, an 85.37% increase compared to -¥4.60 billion in the previous year[3]. - The net cash flow from operating activities for Q1 2023 was negative CNY 471.62 million, an improvement from negative CNY 3.22 billion in Q1 2022[16]. - The net cash flow from investing activities for Q1 2023 was approximately CNY 2.26 billion, compared to negative CNY 6.24 billion in Q1 2022, indicating a significant recovery[17]. - The net cash flow from financing activities for Q1 2023 was negative CNY 666.40 million, a decrease from positive CNY 3.24 billion in Q1 2022[17]. - The total cash and cash equivalents at the end of Q1 2023 were approximately CNY 63.90 billion, up from CNY 62.36 billion at the end of Q1 2022[17]. Assets and Liabilities - Total assets at the end of Q1 2023 were ¥307.48 billion, a 4.70% increase from ¥293.67 billion at the end of the previous year[3]. - The total liabilities of Weichai Power Co., Ltd. increased to RMB 181.78 billion, up from RMB 168.48 billion, indicating a growth of about 7.9%[11]. - The company's total liabilities as of Q1 2023 were RMB 200.50 billion, up from RMB 189.56 billion in the previous year[12]. - The total equity attributable to shareholders of the parent company was RMB 75.58 billion, an increase from RMB 73.18 billion year-over-year[12]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 374,657, with the largest shareholder holding 22.22% of the shares[7]. - The company has a share repurchase account holding 1.00% of its total share capital, reflecting ongoing shareholder value initiatives[8]. Operational Metrics - Total operating costs for Q1 2023 were RMB 50.61 billion, up 16.2% from RMB 43.52 billion in the same period last year[13]. - Research and development expenses for Q1 2023 amounted to RMB 1.83 billion, a decrease of 5.5% from RMB 1.94 billion in Q1 2022[13]. - The company's cash and cash equivalents stood at RMB 72.64 billion, up from RMB 70.84 billion at the beginning of the year, indicating a growth of about 2.5%[11]. - Accounts receivable increased to RMB 29.35 billion from RMB 21.42 billion, representing a significant rise of approximately 37.0%[11]. - Inventory levels rose to RMB 35.33 billion, compared to RMB 33.37 billion at the start of the year, marking an increase of around 5.9%[11]. - The company's short-term borrowings increased to RMB 5.65 billion from RMB 4.61 billion, reflecting a growth of approximately 22.7%[11]. - The total non-current assets reached RMB 125.70 billion, slightly up from RMB 125.18 billion, indicating a marginal increase of about 0.4%[11]. - The company reported a financial expense of RMB 51.89 million in Q1 2023, compared to a financial income of RMB 186.97 million in Q1 2022[13]. - The company's tax expenses for Q1 2023 were RMB 405.30 million, up from RMB 269.78 million in the same period last year[13]. Market Position - Weichai Power's subsidiary, Weichai Lovol, has received approval for its initial public offering on the ChiNext board, which may enhance the company's market position and capital base[9].