Weiye Construction (300621)2023-04-24 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥3,504,511,659.24, representing a 71.09% increase compared to ¥2,048,362,239.95 in the same period last year[5] - The net profit attributable to shareholders was a loss of ¥8,546,612.95, which is a 105.31% decline from a loss of ¥4,162,797.16 in Q1 2022[5] - The total operating revenue for the first quarter of 2023 was CNY 3,504,511,659.24, a significant increase from CNY 2,048,362,239.95 in the same period last year, representing a growth of approximately 70.9%[20] - The total profit for Q1 2023 reached CNY 15,874,316.44, compared to CNY 9,426,283.92 in the same period last year, marking a year-over-year increase of about 68.5%[22] - Operating profit for the quarter was CNY 15,514,762.37, up from CNY 9,759,716.41 in Q1 2022, indicating a growth of approximately 58.5%[22] Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥59,878,713.69, showing a slight improvement of 3.77% compared to a negative cash flow of ¥62,225,567.72 in the previous year[5] - The company's cash and cash equivalents decreased to CNY 2,123,161,594.94 from CNY 2,281,214,806.41 at the beginning of the year, a decline of approximately 6.9%[17] - The cash and cash equivalents at the end of Q1 2023 were CNY 2,062,094,427.10, down from CNY 2,218,066,357.03 at the beginning of the quarter[25] - The total cash outflow from investing activities was CNY 1,609,340.00, compared to CNY 1,785,025.34 in Q1 2022, indicating a decrease in investment outflow[25] - The company reported cash inflow from financing activities of CNY 287,689,800.00, a significant increase from CNY 130,512,477.78 in Q1 2022[25] Assets and Liabilities - The company's total assets decreased by 4.01% to ¥11,674,889,711.48 from ¥12,162,572,201.58 at the end of the previous year[5] - Accounts receivable increased by 39.29% to ¥2,681,777,638.78, primarily due to the increase in operating revenue[9] - The total liabilities decreased to CNY 10,749,835,739.90 from CNY 11,243,636,374.94, indicating a decline of about 4.4%[19] - The company's total liabilities increased, with contract liabilities rising by 47.48% to ¥1,495,142,232.68, indicating an increase in advance payments received[9] Shareholder Information - The total number of common shareholders at the end of the reporting period is 8,958[11] - The largest shareholder, Zhuhai Urban Construction Group, holds 29.99% of shares, totaling 62,411,589 shares[11] - Yunnan Zhongying Enterprise Management Center (Limited Partnership) holds 11.26% of shares, totaling 23,422,550 shares[11] - The top ten shareholders collectively hold significant stakes, with the largest three shareholders accounting for over 49% of total shares[11] - Zhang Hanqing and Zhang Hanwei are identified as related parties due to their agreement on joint action, impacting shareholder dynamics[12] Research and Development - Research and development expenses rose by 36.67% to ¥9,561,776.05, reflecting increased investment in R&D[9] - Research and development expenses increased to CNY 9,561,776.05 from CNY 6,996,411.23, reflecting a growth of about 36.5%[20] Corporate Changes - The company plans to change its name from "Shenzhen Weiye Decoration Group Co., Ltd." to "Weiye Construction Group Co., Ltd." to better reflect its business development needs[16] - The company’s actual controller remains the State-owned Assets Supervision and Administration Commission of Zhuhai Municipal Government[15] - The company’s controlling shareholder structure changed, with Zhuhai Huafa Group transferring 100% of its stake in Zhuhai Urban Construction Group to Zhuhai Central Business District Construction Holdings[14] Earnings Per Share - Basic and diluted earnings per share for Q1 2023 were both CNY -0.04, compared to CNY -0.02 in Q1 2022[23] - The company recorded a total comprehensive income attributable to the parent company of CNY -8,546,612.95, worsening from CNY -4,162,797.16 in the previous year[23]