Financial Performance - The company's revenue for Q1 2023 was CNY 307,229,460.57, representing a 36.61% increase compared to CNY 224,896,271.76 in the same period last year[4] - Net profit attributable to shareholders decreased by 62.21% to CNY 10,209,742.77 from CNY 27,013,773.34 year-on-year[4] - The total operating revenue for Q1 2023 was CNY 307,229,460.57, an increase of 36.5% compared to CNY 224,896,271.76 in the same period last year[18] - The net profit for Q1 2023 was CNY 11,485,268.34, a decrease of 61.8% compared to CNY 30,066,180.21 in Q1 2022[18] - The total comprehensive income for the first quarter was CNY 11,485,268.34, compared to CNY 30,066,180.21 in the previous year, representing a decrease of approximately 61.8%[19] Cash Flow - The net cash flow from operating activities showed a significant decline of 596.78%, resulting in a negative cash flow of CNY -131,119,885.67[4] - Cash inflow from operating activities totaled CNY 194,439,860.44, down from CNY 210,255,581.36 year-over-year, indicating a decrease of about 7.8%[21] - Cash outflow from operating activities increased to CNY 325,559,746.11, compared to CNY 229,073,504.23 in the previous year, marking an increase of approximately 42.2%[22] - The net cash flow from investing activities was CNY -90,249,291.87, worsening from CNY -25,497,480.90 year-over-year[22] - Cash inflow from investing activities was CNY 123,484,269.91, significantly higher than CNY 13,800,000 in the previous year[22] - Cash outflow from investing activities rose to CNY 213,733,561.78, compared to CNY 39,297,480.90 in the same period last year, reflecting an increase of about 444.5%[22] - The net cash flow from financing activities was CNY 5,613,368.08, improving from CNY -4,905,004.42 in the previous year[22] - The ending cash and cash equivalents balance was CNY 189,376,249.36, compared to CNY 63,644,917.15 at the end of the previous year, indicating a significant increase[22] Expenses and Costs - The company reported a 60.69% increase in operating costs, which outpaced revenue growth due to decreased production capacity utilization[7] - The total operating costs for Q1 2023 were CNY 292,463,815.15, up 53.0% from CNY 191,150,709.85 in Q1 2022[18] - Research and development expenses increased by 44.52%, driven by projects related to lightweight subframes and hydrogen fuel cell systems[7] - The company reported R&D expenses of CNY 14,585,101.61, which is a 44.5% increase compared to CNY 10,091,920.12 in the previous year[18] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,125,209,493.90, a 1.81% increase from CNY 3,069,653,256.97 at the end of the previous year[4] - The total liabilities increased to CNY 1,361,923,826.26 from CNY 1,327,666,295.12, an increase of 2.6%[17] - The company's equity attributable to shareholders increased to CNY 1,715,320,503.77 from CNY 1,695,858,159.93, reflecting a growth of 1.1%[17] Share Lock-up and Management - The company reported a total of 11,399,371 shares under lock-up at the beginning of the period, which remained unchanged by the end of the period[12] - A total of 1,585,677 shares were added to the lock-up category during the period, with a release date set for July 18, 2023[12] - The company has a significant number of shares (2,148,347) under lock-up scheduled for release on July 18, 2023[14] - The total number of shares under lock-up for various funds and plans amounts to 511,508 shares, with multiple entities involved[14] - The company has multiple high-level executives with shares under lock-up, including Wei Xiaolin with 38,154,791 shares[12] - The report indicates that 72,000 shares were added to Yang Hao's lock-up, bringing the total to 155,986 shares[12] - The company has a diverse range of institutional investors, including UBS AG, which holds 1,585,677 shares under lock-up[12] - The lock-up shares are primarily categorized as "initial public offering lock-up shares," indicating a strategic approach to share management post-IPO[12] - The company is set to release a significant number of shares on July 18, 2023, which may impact market dynamics[14] - The overall strategy appears to focus on maintaining share stability while preparing for future market expansions and potential new product launches[12] Accounts Receivable and Inventory - The company experienced a 32.91% increase in accounts receivable, attributed to increased sales through acceptance bills[7] - Accounts receivable increased to CNY 446,093,520.76 from CNY 415,447,509.15, reflecting a growth of 7.4%[16] - Inventory rose to CNY 446,442,928.88, up 13.8% from CNY 392,505,862.34 at the beginning of the year[16] Earnings Per Share - The company's basic earnings per share fell by 65.71% to CNY 0.0538 from CNY 0.1569 in the previous year[4] - Basic earnings per share for the first quarter were CNY 0.0538, down from CNY 0.1569 in the same period last year, representing a decrease of approximately 65.7%[19] Return on Equity - The weighted average return on equity decreased to 0.60% from 2.03% year-on-year[4]
西菱动力(300733) - 2023 Q1 - 季度财报