TGCF(301217)2023-04-26 16:00Financial Performance - Revenue for the first quarter of 2023 was RMB 853.95 million, a decrease of 9.47% compared to the same period last year[2] - Net profit attributable to shareholders of the listed company was RMB 25.95 million, a significant decrease of 73.62% year-on-year[2] - Basic earnings per share (EPS) decreased by 75.00% to RMB 0.03[2] - Total operating revenue decreased to 853,949,796.89 from 943,263,157.58, a decline of 9.47%[24] - Net profit attributable to parent company owners dropped to 25,949,917.14 from 98,360,280.22, a significant decline of 73.61%[30] - Comprehensive income attributable to parent company owners was 25,955,017.14, down from 97,461,830.22, a decline of 73.37%[30] - The company's profit declined significantly due to global macroeconomic weakness, sluggish consumer demand, and rising energy costs[36] Cash Flow - Net cash flow from operating activities was negative RMB 556.41 million, a sharp decline of 738.50% compared to the same period last year[2] - Cash flow from operating activities was -556,408,067.39, a decrease of 738.50%, mainly due to reduced bill discounting[26] - Net cash flow from operating activities was -556.41 million yuan, compared to -66.36 million yuan in the previous period[31] - Cash flow from investing activities improved to 701,209,421.27, primarily due to the redemption of financial products[26] - Net cash flow from investing activities improved to 701.21 million yuan from -1,335.88 million yuan in the previous period[31] - Cash flow from financing activities decreased by 96.70% to 98,112,135.40, mainly due to the receipt of raised funds in the previous period[26] - Net cash flow from financing activities was 98.11 million yuan, a significant decrease from 2,972.50 million yuan in the previous period[32] Assets and Liabilities - Total assets increased slightly by 1.59% to RMB 6.30 billion[2] - The company's monetary funds increased to 1,855,752,604.08 RMB from 1,612,819,445.52 RMB at the beginning of the year[20] - Trade receivables rose to 610,461,115.78 RMB compared to 600,567,748.22 RMB at the start of the year[20] - Inventory levels grew to 574,098,515.64 RMB from 408,762,214.86 RMB[20] - Total current assets reached 3,898,224,891.03 RMB, slightly up from 3,878,753,413.69 RMB[20] - Fixed assets decreased to 1,578,156,741.46 RMB from 1,609,742,665.29 RMB[20] - Total assets increased to 6,299,570,387.12 RMB from 6,200,673,174.39 RMB[20] - Short-term borrowings stood at 100,019,166.66 RMB[22] - Total current liabilities rose to 421,854,412.59 RMB from 346,138,810.34 RMB[22] - Long-term borrowings remained stable at 82,000,000.00 RMB[22] - Total liabilities increased to 627,549,224.92 RMB from 554,607,029.33 RMB[22] - The company's cash and cash equivalents increased by 242.93 million yuan, reaching 1,855.75 million yuan at the end of the period[32] Investment and Financial Activities - The company's trading financial assets decreased by 80.05% to RMB 200.03 million, mainly due to the redemption of financial products[13] - Investment income surged by 5993.25% to 5,722,742.69, primarily driven by increased returns from financial products[26] - Financial expenses turned negative at -5,887,986.40, a decrease of 249.73%, due to increased interest income from surplus funds and reduced interest expenses[26] Operational Metrics - Accounts receivable financing increased significantly by 283.75% to RMB 472.30 million, driven by an increase in inventory of receivables[13] - Inventory increased by 40.45% to RMB 574.10 million, primarily due to higher stock levels[13] - Other non-current assets surged by 677.57% to RMB 85.84 million, mainly due to increased prepayments for engineering projects[13] - Sales revenue from goods and services received in cash decreased to 401.09 million yuan from 1,032.02 million yuan in the previous period[31] Strategic Initiatives - The company is accelerating the construction of two new lithium battery copper foil projects to increase profit growth points[36] - The company is promoting the large-scale application of new products such as RTF copper foil and HVLP1 copper foil in key downstream customers[36] - The company aims to increase the sales proportion of high-value-added products to improve overall profitability[36] Shareholder Information - The company's largest shareholder, Tongling Nonferrous Metals Group, holds 72.38% of the shares[15] R&D and Expenses - R&D expenses decreased by 36.25% to 13,617,016.37 from 21,359,524.82, mainly due to fewer new projects in the early stages[26] Audit Status - The company's first-quarter report was unaudited[44]