兴发集团(600141) - 2023 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2023 was ¥6,571,156,048.61, a decrease of 25.02% compared to ¥8,763,784,018.25 in the same period last year[4] - Net profit attributable to shareholders of the listed company was ¥449,309,504.76, down 74.21% from ¥1,742,421,263.31 in the previous year[4] - Basic and diluted earnings per share were both ¥0.40, a decrease of 74.52% from ¥1.57 in the previous year[5] - The weighted average return on net assets was 2.19%, down 9.57 percentage points from 11.76% in the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥411,756,747.02, a decrease of 75.67% from ¥1,692,514,628.17 in the previous year[5] - The company reported a significant decline in sales volume and market prices of some main products during the reporting period, impacting overall profitability[9] - Net profit for Q1 2023 was CNY 467,490,336.92, a significant decline from CNY 2,138,990,843.50 in Q1 2022, representing a decrease of 78.2%[20] - The company’s total comprehensive income for Q1 2023 was CNY 458,324,740.05, down from CNY 2,138,021,268.64 in Q1 2022, a decrease of 78.6%[21] Cash Flow - The net cash flow from operating activities was -¥496,495,375.75, a decline of 136.87% compared to ¥1,346,690,853.53 in the same period last year[5] - In Q1 2023, the company's cash inflow from operating activities was CNY 4,693,507,419.08, a decrease of 28.7% compared to CNY 6,582,042,128.78 in Q1 2022[22] - The net cash flow from operating activities was negative at CNY -496,495,375.75, contrasting with a positive CNY 1,346,690,853.53 in the same period last year[23] - Total cash outflow from operating activities was CNY 5,190,002,794.83, slightly down from CNY 5,235,351,275.25 in Q1 2022[23] - The company reported a cash inflow from investment activities of CNY 23,454,980.42, up from CNY 12,348,101.40 in Q1 2022[23] - Cash outflow from investment activities increased to CNY 727,650,883.25 from CNY 443,417,574.92 year-over-year[23] - The net cash flow from financing activities was CNY 272,691,873.62, a significant improvement from CNY -934,234,801.01 in Q1 2022[23] - The ending balance of cash and cash equivalents was CNY 3,709,176,328.10, compared to CNY 2,926,729,388.89 at the end of Q1 2022[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥42,541,860,176.42, an increase of 2.19% from ¥41,630,002,403.69 at the end of the previous year[5] - The company reported a total liability of CNY 20,519,686,496.19 as of Q1 2023, an increase from CNY 20,286,529,548.24 in the previous year[17] - The total equity attributable to shareholders of the parent company was CNY 20,967,426,865.46, up from CNY 20,307,801,046.01 in Q1 2022, indicating an increase of 3.2%[18] - The company’s total non-current liabilities increased to CNY 10,312,785,657.56 from CNY 9,632,292,076.15, marking an increase of 7.0%[17] Inventory and Investments - Current assets totaled approximately CNY 9.63 billion, up from CNY 9.27 billion at the end of 2022, indicating an increase of about 3.9%[15] - The company's inventory decreased to approximately CNY 2.32 billion from CNY 2.52 billion, representing a decline of about 7.8% year-over-year[15] - The long-term equity investments rose to approximately CNY 2.04 billion, compared to CNY 1.94 billion at the end of 2022, marking an increase of about 5.5%[15] - The company’s accounts receivable increased to approximately CNY 1.49 billion from CNY 928 million, showing a significant rise of about 60.3%[15] Research and Development - Research and development expenses for Q1 2023 were CNY 250,307,637.77, a decrease of 10.3% compared to CNY 279,109,094.59 in Q1 2022[19] - The company did not report any new product or technology developments during this quarter[24] Market and Product Performance - The net profit attributable to shareholders significantly decreased compared to the same period last year, primarily due to a substantial decline in market prices for glyphosate and organic silicon DMC, with glyphosate prices nearing the industry cost line by the end of Q1 2023[13] - The company experienced a significant decline in the production and sales volume of glyphosate and organic silicon products, which negatively impacted overall profitability[13] - The company reported stable demand and profitability for growth products such as wet electronic chemicals, specialty chemicals, and food additives, which have become the main contributors to performance[13] - The company plans to focus on expanding its market presence and developing new products to enhance profitability in the upcoming quarters[13]