CXPC(SH:600078)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 811,820,436.21, representing a decrease of 20.63% compared to the same period last year[5]. - The net profit attributable to shareholders was CNY 19,887,372.08, down 70.56% year-on-year[5]. - The net profit after deducting non-recurring gains and losses was CNY 21,822,861.88, a decline of 68.75% compared to the previous year[5]. - The company's operating profit for Q1 2023 was CNY 67,866,586.22, down 59.5% from CNY 167,607,472.37 in the same period last year[21]. - The total profit before tax for Q1 2023 was CNY 61,756,465.09, down 58.8% from CNY 149,670,167.70 in Q1 2022[21]. - In Q1 2023, Jiangsu Chengxing Phosphate Chemical Co., Ltd. reported a net profit of CNY 55,400,169.04, a decrease of 57.1% compared to CNY 129,241,495.91 in Q1 2022[21]. - The total revenue from sales of goods and services in Q1 2023 was CNY 643,694,010.27, a decline of 12.4% from CNY 734,700,133.77 in Q1 2022[24]. - Basic and diluted earnings per share for Q1 2023 were both CNY 0.03, compared to CNY 0.10 in Q1 2022[22]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 111.15% to CNY 21,505,983.30[5]. - Cash flow from operating activities generated a net cash inflow of CNY 21,505,983.30, an increase of 111.5% from CNY 10,185,155.79 in Q1 2022[25]. - The company incurred a net cash outflow of CNY 212,953,290.57 from financing activities in Q1 2023, compared to a net outflow of CNY 8,430,571.83 in Q1 2022[25]. - The company's cash and cash equivalents decreased to CNY 345,204,806.74 as of March 31, 2023, from CNY 543,165,964.17 at the end of 2022, representing a decline of 36.4%[14]. - The total cash and cash equivalents at the end of Q1 2023 were CNY 280,313,759.19, down from CNY 328,371,739.73 at the end of Q1 2022[26]. - Cash and cash equivalents decreased by 36.45% primarily due to increased debt repayment and salary payments[7]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,416,239,714.80, a decrease of 3.92% from the end of the previous year[6]. - Total assets decreased to CNY 5,416,239,714.80 as of March 31, 2023, from CNY 5,637,116,355.49 at the end of 2022, a decline of 3.9%[16]. - Total liabilities decreased to CNY 2,983,098,446.65 as of March 31, 2023, from CNY 3,108,235,584.65 at the end of 2022, reflecting a reduction of 4.0%[16]. - Accounts receivable as of March 31, 2023, were CNY 149,944,420.39, down from CNY 210,989,803.84 at the end of 2022, indicating a decrease of 29%[15]. - Inventory as of March 31, 2023, was CNY 884,240,100.45, slightly up from CNY 868,668,797.48 at the end of 2022, showing an increase of 1.6%[15]. Shareholder Information - The top two shareholders hold a combined 41.79% of the company's shares, with Wuxi Xingshengzhou Technology Partnership holding 25.78% and Jiangsu Huaxi Industrial Group holding 16.01%[10]. Operational Changes - The company has adopted more flexible operational strategies in response to recent market fluctuations to secure higher operating profits[12]. - The subsidiary Yunnan Xuanwei Phosphate Power has suspended production as of April 10, 2023, pending government approval for resumption[12]. Expenses - Research and development expenses amounted to CNY 353,971.10 in Q1 2023, with financial expenses totaling CNY 32,529,107.58, compared to CNY 29,171,523.37 in Q1 2022[21]. - The company paid CNY 127,963,772.13 to employees in Q1 2023, an increase from CNY 78,262,986.45 in Q1 2022[25].