YTCO(SH:600066)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 3,576,006,338.08, representing a year-on-year increase of 1.42%[4] - The net profit attributable to shareholders of the listed company was CNY 120,541,384.97, with a basic and diluted earnings per share of CNY 0.05[4] - Net profit for Q1 2023 reached RMB 126,061,266.36, a significant turnaround from a net loss of RMB 117,686,552.34 in Q1 2022[17] - Operating profit for Q1 2023 was RMB 147,896,048.07, compared to an operating loss of RMB 200,806,319.43 in the same period last year[17] - Total comprehensive income for Q1 2023 was RMB 189,257,252.66, recovering from a total comprehensive loss of RMB -384,086,816.73 in Q1 2022[17] - Basic and diluted earnings per share for Q1 2023 were both RMB 0.05, compared to a loss per share of RMB -0.05 in Q1 2022[18] Cash Flow and Assets - The net cash flow from operating activities was CNY 411,448,996.94, primarily due to an increase in cash received from sales of goods and a decrease in cash paid for purchases[7] - Cash flow from operating activities generated RMB 411,448,996.94, a recovery from a negative cash flow of RMB -736,678,387.55 in Q1 2022[19] - Cash and cash equivalents at the end of Q1 2023 were RMB 5,336,907,576.24, up from RMB 3,245,468,362.51 at the end of Q1 2022[19] - The company's cash and cash equivalents were ¥5,345,749,562.49, a decrease of approximately 24% from ¥7,034,623,944.95 at the end of 2022[14] Assets and Liabilities - Total assets at the end of the reporting period were CNY 29,403,332,692.23, a decrease of 1.98% compared to the end of the previous year[4] - As of March 31, 2023, the company's total assets amounted to ¥29,403,332,692.23, a decrease from ¥29,997,592,329.73 as of December 31, 2022, representing a decline of approximately 2%[14] - The company's current assets totaled ¥18,102,827,093.08, down from ¥18,998,181,958.21 at the end of 2022, indicating a decrease of about 4.7%[14] - The total liabilities of the company as of March 31, 2023, were ¥14,618,262,065.64, down from ¥15,401,506,730.39 at the end of 2022, reflecting a reduction of about 5.1%[15] Shareholder Information - The equity attributable to shareholders of the listed company increased to CNY 14,656,091,148.44, reflecting a year-on-year growth of 1.27%[4] - The company's equity attributable to shareholders increased to ¥14,656,091,148.44 from ¥14,472,626,002.59, marking an increase of approximately 1.3%[15] - The top ten shareholders held a total of 1,218,000,000 shares, accounting for approximately 55.56% of the total shares outstanding[8] Government and Non-Operating Income - The company received government subsidies amounting to CNY 63,561,396.93 during the reporting period[6] - The company reported a non-operating income of CNY 72,750,077.25 after tax impacts and minority interests[6] - The company reported a significant increase in investment income, reaching RMB 4,911,087.38 in Q1 2023 compared to RMB 81,338,874.89 in Q1 2022[17] Operational Changes and Future Plans - The actual controller of the company changed to Mr. Tang Yuxiang as of March 2023, following a share transfer agreement[11] - The company plans to continue expanding its market presence and developing new products in the upcoming quarters[11] - The company completed the acquisition process of shares from Zhengzhou Yutong Group, with a total of 43,124 shares accepted during the offer period[12] - The company’s stock was suspended for trading on April 17, 2023, and resumed trading on April 18, 2023, following the completion of the acquisition[12] Inventory and Expenses - The company’s inventory as of March 31, 2023, was ¥5,042,502,413.74, an increase from ¥4,893,551,267.55 at the end of 2022, indicating a growth of approximately 3%[14] - Research and development expenses decreased to RMB 293,173,333.87 from RMB 383,689,138.90 in Q1 2022, reflecting a reduction of approximately 23.6%[17] - Total operating costs for Q1 2023 were RMB 3,601,186,118.49, down from RMB 3,928,759,979.43 in Q1 2022, indicating a decrease of about 8.3%[17]