TYN(SZ:000591)2023-04-26 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥1,707,422,673.75, representing a 22.27% increase compared to ¥1,396,458,199.58 in the same period last year[3] - Net profit attributable to shareholders for Q1 2023 was ¥388,943,009.26, a 48.39% increase from ¥261,514,846.75 in the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥367,616,931.60, up 42.30% from ¥257,750,719.46 year-on-year[3] - Basic earnings per share for Q1 2023 were ¥0.0995, reflecting a 14.11% increase from ¥0.0870 in the previous year[4] - Diluted earnings per share were ¥0.0993, up 14.53% from ¥0.0865 year-on-year[4] - The gross profit margin for Q1 2023 was approximately 24.9%, compared to 21.6% in Q1 2022, reflecting improved profitability[15] - The company reported a total comprehensive income of CNY 390.07 million for Q1 2023, compared to CNY 261.34 million in Q1 2022, reflecting a growth of 49.2%[16] Cash Flow and Liquidity - The net cash flow from operating activities reached ¥942,285,046.64, a significant increase of 387.19% compared to ¥193,413,389.30 in the same period last year[4] - The net cash flow from operating activities surged by 387.19% to ¥942,285,046.64 in Q1 2023, up from ¥193,413,389.30 in Q1 2022, primarily due to increased sales collections and government subsidies for solar power generation[7] - The company's cash and cash equivalents decreased to CNY 4,118,042,570.26 from CNY 4,572,432,754.50 at the beginning of the year, a decline of about 10%[12] - The cash and cash equivalents at the end of Q1 2023 stood at CNY 4.03 billion, down from CNY 1.68 billion at the end of Q1 2022[19] - The company recorded a net cash outflow from financing activities of CNY 1.34 billion, compared to a net inflow of CNY 424.91 million in the same period last year[19] Assets and Liabilities - Total assets at the end of Q1 2023 were ¥46,070,278,139.65, a decrease of 1.28% from ¥46,499,902,728.28 at the end of the previous year[4] - The total liabilities decreased to CNY 23,813,895,210.83 from CNY 24,823,570,014.96, indicating a reduction of approximately 4.1%[14] - The company's inventory rose significantly by 196.25% to ¥856,742,702.63, compared to ¥289,196,605.37 at the beginning of the year, as a result of stockpiling materials for solar product orders[7] - Accounts receivable as of March 31, 2023, stood at CNY 9,851,403,667.84, down from CNY 10,158,091,274.20 at the beginning of the year, a decrease of approximately 3%[12] Costs and Expenses - The cost of goods sold for Q1 2023 was ¥1,016,409,574.07, up 30.96% from ¥776,117,893.28 in Q1 2022, reflecting the rise in sales volume and increased operational costs[7] - Research and development expenses increased by 32.88% to ¥19,564,834.10 in Q1 2023, compared to ¥14,723,609.10 in Q1 2022, indicating a commitment to enhancing R&D efforts[7] - The company reported a significant increase in income tax expenses, which rose by 31.90% to ¥67,738,155.00, attributed to increased profits and projects exceeding tax exemption periods[7] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 218,561, with the largest shareholder holding 31.29% of the shares[8] - Shareholders' equity attributable to the parent company was ¥22,244,937,806.58, an increase of 1.90% from ¥21,824,964,565.67 at the end of the previous year[4] Strategic Initiatives - The company plans to establish a project company in collaboration with its wholly-owned subsidiaries, indicating a strategy for market expansion[9] - The company has made adjustments to its accounting policies in accordance with the new regulations effective from January 1, 2023, but these changes did not significantly impact its financial position or results[4]