CNRE(SH:600111)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 9,231,350,045.37, a decrease of 5.90% compared to the same period last year[4] - The net profit attributable to shareholders was CNY 921,914,627.58, down 40.83% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 888,835,403.92, a decline of 46.80% compared to the previous year[4] - The net cash flow from operating activities was CNY 948,619,535.56, representing a decrease of 50.53% year-on-year[4] - Total operating revenue for Q1 2023 was approximately ¥9.23 billion, a decrease of 5.86% compared to ¥9.81 billion in Q1 2022[17] - Net profit for Q1 2023 was approximately ¥945.39 million, a decline of 48.3% from ¥1.83 billion in Q1 2022[18] - The company's revenue for Q1 2023 reached ¥7,985,018,929.48, an increase of 16.4% compared to ¥6,858,315,429.83 in Q1 2022[25] - The net profit for Q1 2023 was ¥716,361,370.81, down 63.4% from ¥1,954,690,791.73 in Q1 2022[25] Assets and Liabilities - The total assets at the end of the reporting period were CNY 38,472,913,726.88, an increase of 4.99% from the end of the previous year[4] - The total current assets as of March 31, 2023, amounted to RMB 28,868,920,597.33, compared to RMB 27,165,600,659.09 as of December 31, 2022, indicating a growth of 6.27%[13] - The total liabilities increased to RMB 12,469,199,716.83 as of March 31, 2023, from RMB 11,613,390,230.71 as of December 31, 2022, representing a rise of 7.36%[15] - The company's total assets reached RMB 38,472,913,726.88 as of March 31, 2023, compared to RMB 36,645,246,206.77 at the end of 2022, indicating an increase of 5.01%[15] - The total liabilities decreased to ¥7,611,346,373.52 from ¥8,580,152,883.62 year-over-year[24] Cash Flow - The net cash flow from operating activities for Q1 2023 was CNY 1,327,684,079.79, down 27.6% from CNY 1,836,675,237.46 in the same period last year[26] - Cash flow from operating activities generated a net amount of approximately ¥948.62 million, a decrease of 50.5% compared to ¥1.92 billion in Q1 2022[21] - Cash outflows from investing activities totaled CNY 552,819,206.91 in Q1 2023, compared to CNY 81,434,061.79 in Q1 2022, indicating a significant increase in investment expenditures[26] - The net cash flow from financing activities was -CNY 749,683,932.48 in Q1 2023, an improvement from -CNY 2,422,871,283.32 in Q1 2022[26] - The company's cash and cash equivalents at the end of Q1 2023 amounted to CNY 2,741,151,062.13, a decrease from CNY 4,219,311,450.03 at the end of Q1 2022[26] Production and Sales - The production volume of rare earth oxides was 4,030.77 tons, an increase of 31.92% year-on-year, while sales volume decreased by 24.07% to 5,433.56 tons[11] - The production volume of rare earth salts reached 30,123.02 tons, up by 24.05% year-on-year, with sales volume declining by 10.46% to 16,820.31 tons[11] - The production volume of rare earth metals was 6,304.04 tons, reflecting a 15.67% increase year-on-year, while sales volume increased by 24.27% to 6,788.70 tons[11] - The company reported a decrease in sales revenue from goods and services to approximately ¥6.99 billion, down 34.5% from ¥10.59 billion in Q1 2022[20] - Total sales revenue from goods and services received in Q1 2023 was CNY 3,605,777,791.25, down 34.9% from CNY 5,541,028,637.03 in Q1 2022[26] Expenses and Subsidies - The company's financial expenses decreased by 50.44% year-on-year, reflecting reduced interest expenses[7] - The company’s government subsidies recognized in other income increased by 39.25% compared to the previous year[7] - Total operating costs increased to approximately ¥8.17 billion, up 9.43% from ¥7.47 billion in the same period last year[17] - Research and development expenses for Q1 2023 were approximately ¥48.34 million, a decrease of 16.7% from ¥58.04 million in Q1 2022[17] - Research and development expenses rose to ¥22,676,543.56 in Q1 2023, compared to ¥17,942,128.01 in Q1 2022, reflecting a 26.7% increase[25] Inventory and Borrowings - The inventory value increased to RMB 15,329,359,659.53 from RMB 14,505,304,399.84, reflecting a growth of 5.68%[13] - The company's inventory increased to ¥13,958,021,029.76 from ¥13,351,662,702.65, indicating a growth of 4.5%[23] - The company's short-term borrowings surged to ¥1,283,990,428.07 from ¥686,302,625.03, representing an increase of 87.0%[23] Other Financial Metrics - The weighted average return on equity was 4.54%, a decrease of 5.12 percentage points compared to the previous year[4] - Basic earnings per share for Q1 2023 were ¥0.255, down from ¥0.431 in Q1 2022[18] - The ending balance of cash and cash equivalents was approximately ¥4.18 billion, down from ¥5.48 billion at the end of Q1 2022[21] - The company received CNY 1,100,000,000.00 in cash from borrowings in Q1 2023, a significant increase from CNY 200,000,000.00 in Q1 2022[26] - Cash outflows for debt repayment in Q1 2023 were CNY 1,000,000,000.00, a decrease of 61.3% compared to CNY 2,591,000,000.00 in Q1 2022[26]