Financial Performance - In Q1 2023, the company achieved revenue of RMB 20.77 billion, representing a year-on-year increase of 23.76% and a quarter-on-quarter increase of 37.83%[2] - The net profit attributable to shareholders of the listed company was RMB 2.30 billion, showing a decrease of 10.25% compared to the same period last year[7] - The basic earnings per share for the period was RMB 1.1121, reflecting a decline of 15.29% year-on-year[7] - Total operating revenue for Q1 2023 reached RMB 20.77 billion, a 23.7% increase from RMB 16.78 billion in Q1 2022[13] - Net profit for Q1 2023 was RMB 2.47 billion, down 15.4% from RMB 2.92 billion in Q1 2022[14] - Operating profit for Q1 2023 was RMB 3.15 billion, compared to RMB 3.50 billion in Q1 2022, reflecting a decrease of 9.9%[14] - The company reported a total comprehensive income of RMB 2.16 billion for Q1 2023, down from RMB 2.82 billion in Q1 2022[15] - Basic and diluted earnings per share for Q1 2023 were both RMB 1.1121, a decrease from RMB 1.3129 in Q1 2022[15] Cash Flow and Liquidity - The net cash flow from operating activities for the period was RMB 7.42 billion, with no applicable year-on-year comparison[7] - Cash flow from operating activities for Q1 2023 was RMB 7.42 billion, a significant improvement compared to a negative cash flow of RMB 1.23 billion in Q1 2022[16] - The ending balance of cash and cash equivalents as of March 31, 2023, was 32,066,294,878.78 RMB, a substantial increase from 13,962,570,232.36 RMB in the same period last year[18] - The total cash and cash equivalents at the beginning of Q1 2023 were 25,762,143,186.64 RMB, indicating a strong liquidity position compared to -2,693,972,143.12 RMB at the start of Q1 2022[18] - The cash inflow from financing activities in Q1 2023 was 84,578,732.32 RMB, while the cash outflow was 179,010,219.67 RMB, resulting in a net cash flow of -94,431,487.35 RMB, significantly better than -862,188,340.08 RMB in Q1 2022[17] Assets and Liabilities - Total assets as of March 31, 2023, reached RMB 79.86 billion, an increase of 5.21% compared to RMB 75.91 billion at the end of the previous year[9] - The total liabilities as of March 31, 2023, were RMB 23.58 billion, compared to RMB 21.78 billion at the end of the previous year, showing an increase in financial obligations[12] - Non-current liabilities totaled RMB 4.65 billion, an increase from RMB 4.30 billion, indicating a rise in long-term financial commitments[12] - Shareholders' equity attributable to the parent company increased to RMB 50.57 billion, reflecting a growth of 4.11% from RMB 48.57 billion year-over-year[12] - Cash and cash equivalents amounted to RMB 32.07 billion, up from RMB 26.89 billion, indicating a significant increase in liquidity[10] Operational Highlights - The company has implemented new policies such as "guarantee immediate pick-up" and "immediate purchase and pick-up" starting April 1, enhancing customer shopping experience and reducing logistics costs[2] - The company continues to optimize product supply and improve service quality to tap into the potential of duty-free consumption[2] - The company is focused on expanding its market presence and enhancing customer service through various strategies[2] Inventory and Other Metrics - The company’s inventory decreased to RMB 26.14 billion from RMB 27.93 billion, reflecting a reduction in stock levels[10] - The company’s other comprehensive income decreased to RMB 214.57 million from RMB 518.66 million, indicating a decline in certain financial metrics[12] - The company’s long-term equity investments increased slightly to RMB 1.98 billion from RMB 1.97 billion, suggesting stable investment performance[10] - The company’s total current assets amounted to RMB 60.71 billion, an increase from RMB 57.21 billion, indicating growth in short-term financial resources[10] Income and Expenses - Total costs for Q1 2023 amounted to RMB 17.49 billion, an increase of 30.5% from RMB 13.38 billion in Q1 2022[13] - The company reported a total of RMB 5.14 million in non-operating income for the current period, after accounting for taxes and minority interests[8] - The total income from interest and commission fees in Q1 2023 was RMB 144.45 million, compared to RMB 68.79 million in Q1 2022, indicating a growth of 109.5%[13] - The company incurred a net loss from asset impairment of RMB 138.97 million in Q1 2023, contrasting with a gain of RMB 45.24 million in Q1 2022[13] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 233,121[3] - The largest shareholder, China Tourism Group Co., Ltd., holds 50.30% of the shares, totaling 1,040,642,690 shares[3] Return on Investment - The weighted average return on net assets was 4.64%, a decrease of 3.67 percentage points compared to the previous year[7]
中国中免(01880) - 2023 Q1 - 季度业绩