Furuise(300228)2023-04-27 16:00Financial Performance - The company's revenue for Q1 2023 reached CNY 764,176,745.40, representing a 180.67% increase compared to CNY 272,268,723.15 in the same period last year[5] - The net profit attributable to shareholders was CNY 2,715,775.47, a significant turnaround from a loss of CNY 21,774,277.74 in the previous year, marking a 112.47% increase[5] - The company reported a basic earnings per share of CNY 0.0047, compared to a loss of CNY 0.0378 per share in the same period last year, indicating a 112.43% improvement[5] - Net profit for Q1 2023 was CNY 5,039,150.65, a turnaround from a net loss of CNY 20,940,923.21 in Q1 2022[25] - The company reported a gross profit of CNY 13,268,427.51 for Q1 2023, compared to a gross loss of CNY 18,327,156.91 in the same quarter last year[25] - The total comprehensive income for Q1 2023 was CNY 8,001,979.76, a recovery from a comprehensive loss of CNY 21,116,108.94 in Q1 2022[25] Cash Flow - The net cash flow from operating activities decreased by 70.37% to CNY 54,414,212.87, down from CNY 183,625,607.58 in the previous year, primarily due to reduced sales collections[12] - Cash inflow from operating activities totaled 787,147,759.35, up from 446,825,207.57 in the previous year, representing a 76% increase[26] - Cash inflow from investment activities was 212,209,569.37, down from 304,388,108.83, a decrease of 30%[28] - Net cash flow from investment activities increased significantly to 78,629,466.32 from 5,753,153.65, marking a substantial improvement[28] - Cash inflow from financing activities was 224,000,000.00, compared to 170,269,105.70 in the previous year, reflecting a 31% increase[28] - Net cash flow from financing activities improved to 50,719,069.69 from -48,863,091.29, indicating a positive turnaround[28] - The ending balance of cash and cash equivalents reached 542,743,162.96, up from 340,845,487.97, an increase of 59%[28] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,983,107,970.20, reflecting a 5.08% increase from CNY 3,790,522,306.25 at the end of the previous year[5] - Total liabilities rose to CNY 2,207,996,216.44, up from CNY 2,034,295,497.26, marking an increase of about 8.5%[22] - The equity attributable to shareholders of the parent company was CNY 1,735,312,888.62, compared to CNY 1,729,014,104.48 in the previous year, showing a slight increase[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 53,346[14] - The largest shareholder, Huang Feng, holds 7.52% of shares, totaling 43,280,000 shares, with 32,460,000 shares under lock-up[14] - The total number of restricted shares at the end of the period is 32,460,000, with no shares released during the period[16] Investment and Expenses - The company's investment income increased by 92.48% to CNY 1,952,882.17, driven by profits from associated companies[10] - The financial expenses surged by 307.64% to CNY 12,431,891.29, mainly due to foreign exchange losses incurred during the period[10] - Research and development expenses for Q1 2023 were CNY 11,943,564.55, down from CNY 14,301,479.14 in Q1 2022, indicating a decrease of approximately 16.5%[24] Inventory and Receivables - The company reported a significant increase in receivables, with accounts receivable rising by 139.48% to CNY 22,790,649.58, due to an increase in commercial bills received[9] - Accounts receivable increased to RMB 502,181,829.50 from RMB 425,357,540.34 at the beginning of the year[19] - The company’s inventory decreased to RMB 765,140,939.50 from RMB 864,208,956.34 at the beginning of the year[19] Other Information - The company plans to reduce the financial derivatives trading limit from RMB 1.6 billion to RMB 1.3 billion to mitigate exchange rate risks[17] - The company intends to use up to RMB 240 million of idle raised funds for cash management in safe and liquid financial products[18] - The company has a long-term equity investment valued at RMB 61,771,700.23, an increase from RMB 58,362,786.59 at the beginning of the year[19] - The company did not undergo an audit for the Q1 report[29] - The report was released on April 27, 2023, by the board of directors[29]