CITIC Wine(SH:600084)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 reached ¥83,854,058.71, representing a year-on-year increase of 72.49%[5] - Operating profit for Q1 2023 was ¥11,807,469.44, compared to a loss of ¥1,522,026.20 in Q1 2022, indicating a turnaround in profitability[24] - Net profit for Q1 2023 was ¥11,811,469.44, recovering from a net loss of ¥1,805,340.61 in the same period last year[25] - The company reported a net cash flow from operating activities of ¥22,374,246.27, a significant improvement from a negative cash flow of ¥25,885,817.06 in Q1 2022[27] - Total operating revenue for Q1 2023 reached ¥83,854,058.71, a significant increase of 72.4% compared to ¥48,613,295.63 in Q1 2022[23] - The company’s gross profit margin improved, with operating costs at ¥73,019,422.03 compared to ¥53,251,132.53 in Q1 2022, indicating better cost management[23] - Basic and diluted earnings per share for Q1 2023 were both ¥0.0104, recovering from a loss of ¥0.0016 per share in Q1 2022[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,386,235,459.15, reflecting a slight increase of 0.46% from the previous year[6] - The company's cash and cash equivalents increased to CNY 90,787,029.83 from CNY 88,006,284.29, representing a growth of about 3.2%[20] - Accounts receivable rose significantly to CNY 39,709,350.75, up from CNY 26,768,976.27, indicating an increase of approximately 48.1%[20] - Inventory decreased slightly to CNY 809,183,784.56 from CNY 815,630,701.55, showing a decline of about 0.8%[20] - The total current liabilities decreased to CNY 131,610,600.09 from CNY 137,833,605.63, a reduction of approximately 4.5%[21] - Total liabilities decreased to ¥150,061,527.11 in Q1 2023 from ¥155,547,055.03 in Q1 2022, reflecting a reduction in financial obligations[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,768[12] - The largest shareholder, CITIC Guoan Group Co., Ltd., holds 34.48% of the shares, with a total of 387,473,586 shares[12] - The company’s major shareholder, Guoan Group, has transferred all its shares to Guoan Industry, which now holds 44.93% of the total shares[17] - Individual shareholder Sun Wei increased his stake to 8% during the reporting period, driven by the company's strategic developments and market potential[14] - The restructuring plan for Guoan Group has been approved, with China CITIC Group becoming the controlling shareholder of Guoan Industry, holding between 30.64% and 32.25% of the shares[17] Cash Flow - The net cash flow from financing activities was -$13,155,205.47 for Q1 2023, compared to -$29,390,729.03 in the same period last year, indicating a reduction in cash outflow[28] - The net increase in cash and cash equivalents for Q1 2023 was $7,227,113.21, contrasting with a decrease of -$61,661,898.75 in Q1 2022[28] - The ending balance of cash and cash equivalents as of Q1 2023 was $90,787,029.83, up from $83,326,494.16 at the end of Q1 2022[28] Other Financial Metrics - Net profit attributable to shareholders was ¥11,737,330.93, with a basic earnings per share of ¥0.0104[5] - The company reported non-recurring gains of ¥754,733.50 after tax, primarily from government subsidies[8] - The company did not conduct an audit for the Q1 financial report[4] - The company will continue to monitor the restructuring process and fulfill its disclosure obligations as required by law[16] - The company’s deferred income increased to ¥18,450,927.02 in Q1 2023 from ¥17,713,449.40 in Q1 2022, indicating growth in future revenue recognition[22]