SLSVC(SH:600123)2023-04-24 16:00Financial Performance - Total operating revenue for Q1 2023 was CNY 3,017,371,418.26, a decrease of 7.74% compared to Q1 2022[21] - Net profit attributable to shareholders of the listed company was CNY 773,251,951.96, down 11.62% year-on-year[28] - Basic earnings per share for Q1 2023 was CNY 0.6769, reflecting a decrease of 11.62% compared to the previous year[28] - Total comprehensive income attributable to the parent company for Q1 2023 was RMB 773,251,951.96, down from RMB 874,933,137.77 in Q1 2022, a decrease of about 11.6%[40] - The net profit for Q1 2023 was ¥712,805,982.91, down 10.7% from ¥798,724,877.94 in Q1 2022[59] - The total profit for Q1 2023 was ¥906,702,600.76, a decrease of 10.9% compared to ¥1,017,900,834.70 in Q1 2022[59] Cash Flow - Net cash flow from operating activities increased by 22.86% to CNY 1,031,867,771.55[28] - Cash inflow from operating activities totaled RMB 3,524,902,211.99 in Q1 2023, an increase from RMB 2,929,835,403.24 in Q1 2022, marking a growth of approximately 20.3%[43] - The company reported a net cash flow from operating activities of ¥894,180,890.54, an increase of 42% from ¥630,731,882.51 in Q1 2022[62] - Cash and cash equivalents at the end of Q1 2023 totaled ¥4,800,548,950.48, up from ¥2,441,877,961.45 at the end of Q1 2022[62] Assets and Liabilities - Total liabilities amounted to CNY 15,409,752,112.78, an increase from CNY 15,042,190,890.36 at the end of the previous year[19] - Total non-current liabilities decreased to CNY 4,627,737,438.56 from CNY 4,981,271,859.65 year-on-year[19] - Total assets increased by 4.11% to ¥31,588,827,203.33 compared to the previous period[29] - The company's cash and cash equivalents amounted to RMB 6,251,957,971.76, up from RMB 5,364,824,821.42, indicating a year-over-year increase of about 16.4%[36] - The total non-current assets amounted to RMB 22,002,451,167.66 as of March 31, 2023, compared to RMB 21,843,346,169.15 at the end of 2022, showing a slight increase of about 0.73%[36] - Total liabilities increased to ¥12,308,104,324.44 from ¥11,869,628,141.56, representing a growth of approximately 3.7%[46] Research and Development - Research and development expenses rose to CNY 10,189,900.33, compared to CNY 3,590,067.22 in the same period last year[21] - Research and development expenses surged by 183.84% due to higher costs for R&D materials and personnel[30] - Research and development expenses increased significantly to ¥10,095,468.50 in Q1 2023, compared to ¥3,482,361.57 in Q1 2022[59] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 65,142[31] - The largest shareholder, Shanxi Lanhua Coal Industry Group Co., Ltd., holds 45.11% of the shares[31] - The company reported a decrease in minority shareholder profit by 67.70% due to reduced net profit from non-wholly-owned subsidiaries[31] Operating Costs and Income - Total operating costs for Q1 2023 were CNY 2,096,431,170.12, a decrease from CNY 2,250,603,676.84 in the previous year[21] - Operating income from non-recurring items rose by 42.17% due to increased fines and insurance compensation[30] - The company achieved a gross profit margin of approximately 50% in Q1 2023, compared to 56.4% in Q1 2022[59] Borrowings and Financial Expenses - Long-term borrowings increased by 33.16% as a result of new bank loans[30] - The company’s short-term borrowings increased to ¥3,449,450,000.00 from ¥3,077,503,796.73, indicating a rise of approximately 12.1%[46] - Long-term borrowings increased significantly to ¥2,831,238,616.21 from ¥2,126,238,616.21, reflecting a growth of approximately 33.2%[46] - The company’s financial expenses showed a significant change, with interest income rising to ¥31,677,986.22 in Q1 2023 from ¥7,101,386.02 in Q1 2022[59] Inventory and Prepayments - Prepayments increased by 81.64% primarily due to higher prepaid railway freight[30] - Inventory grew by 44.92% mainly due to increased stock of coal and urea products[30] - The company’s inventory increased to RMB 666,684,963.85 as of March 31, 2023, from RMB 460,038,475.69 at the end of 2022, reflecting a rise of approximately 45%[36]