Financial Performance - Operating revenue for Q1 2023 was CNY 191,544,584.18, a decrease of 33.90% from CNY 289,786,752.68 in Q1 2022[10] - Net profit attributable to shareholders was a loss of CNY 15,472,742.62, down 122.50% from a profit of CNY 68,755,369.16 in the same period last year[10] - Basic earnings per share decreased by 118.00% to -0.0279 CNY per share[11] - Cash flow from operating activities showed a net outflow of CNY 11,343,239.26, a decline of 110.94% compared to CNY 103,731,848.22 in Q1 2022[10] - The company reported a total comprehensive loss of ¥19,065,924.79 in Q1 2023, compared to a total comprehensive income of ¥68,906,268.05 in Q1 2022[68] - The net profit for Q1 2023 was -11,750,211.34, a significant decrease compared to a net profit of 17,215,855.00 in Q1 2022, representing a decline of approximately 168.2%[71] Assets and Liabilities - Total assets decreased by 4.90% to CNY 2,453,502,430.77 compared to the end of last year[10] - The company's total assets amounted to CNY 2,453,502,430.77, a decrease from CNY 2,579,847,604.79 as of December 31, 2022, reflecting a decline of approximately 4.9%[58] - The company's current assets totaled CNY 715,068,308.22, down from CNY 843,672,412.03, indicating a decrease of about 15.2%[58] - The company's total liabilities were CNY 1,051,422,978.08, down from CNY 1,158,702,227.31, reflecting a decrease of approximately 9.2%[60] - Short-term borrowings decreased by 58.89% to CNY 9,474,170.00 as the company adjusted its capital structure[14] - Short-term borrowings decreased to CNY 94,741,712.86 from CNY 230,440,009.38, a reduction of about 58.9%[59] Cash Flow and Financing Activities - Cash received from borrowings decreased to 72 million yuan, down 49.47% from 142.5 million yuan in the previous period, attributed to a slowdown in bank financing due to sufficient funds[34] - Cash paid for dividends, profits, or interest decreased to 6.40 million yuan, a reduction of 36.33% from 10.05 million yuan, mainly due to a decrease in bank loans and lower interest rates[35] - Other cash outflows related to financing activities totaled 33.90 million yuan, down 32.82% from 50.46 million yuan, primarily due to higher distribution indices in the previous period[35] - Total cash inflow from financing activities was $72 million, down from $135.5 million[78] - Cash outflow for debt repayment was $145.26 million, compared to $197.23 million last year[78] - Net cash flow from financing activities was -$92.63 million, slightly improved from -$95.46 million[78] Shareholder Information - The total number of ordinary shares at the end of the period remained at 555,407,453 shares, with 30,546 shareholders[40] - The largest shareholder, Wang Jing, holds 176,173,843 shares, representing 31.72% of total shares[42] - The second-largest shareholder, Zhang Jing, holds 80,020,000 shares, accounting for 14.41% of total shares[42] Inventory and Expenses - Inventory increased by 72.56% to CNY 34,148,600.00 due to an increase in returned fuel oil from terminated charter contracts[13] - Total operating costs for Q1 2023 were ¥219,354,552.34, down 10.9% from ¥246,311,631.82 in Q1 2022[67] - The company reported a total operating expense of 265,218,159.75 in Q1 2023, up from 229,850,150.51 in Q1 2022, which is an increase of about 15.4%[75] Investments and Future Plans - The company prepaid CNY 12,000,000.00 for shipbuilding, contributing to a 1,979.38% increase in cash outflows for fixed asset purchases[32] - The company plans to construct four 73,800-ton bulk carriers with a total contract value of 86,400 million RMB, with delivery scheduled over 31 months[51] - The company has disclosed an asset acquisition plan approved by the shareholders, involving significant contracts with Jiangsu Haitong Ocean Engineering[51] Non-Operating Income - The company reported a significant increase in non-operating income, with government subsidies contributing 903,907.08 yuan to the total[37] - Investment income dropped by 91.62% to CNY 306,030.00, primarily due to a significant decline in dry bulk freight rates[24]
国航远洋(833171) - 2023 Q1 - 季度财报