C&D INC.(SH:600153)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was approximately ¥167.46 billion, representing an increase of 11.20% compared to ¥150.60 billion in the same period last year[4]. - Net profit attributable to shareholders decreased to approximately ¥795.98 million, down 22.66% from ¥1.01 billion year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥334.57 million, a significant decline of 65.07% from ¥937.22 million in the previous year[4]. - Basic earnings per share for Q1 2023 were ¥0.23, down 30.30% from ¥0.33 in the same period last year[5]. - The weighted average return on equity decreased to 1.39%, down 0.83 percentage points from 2.22% year-on-year[5]. - The net profit attributable to shareholders of the listed company for Q1 2023 was CNY 1,340,332,874.12, adjusted from CNY 1,391,769,232.64, reflecting a decrease of approximately 3.7%[15]. - Net profit for Q1 2023 was CNY 879.21 million, a decrease of 36.67% from CNY 1.39 billion in Q1 2022[32]. - The total comprehensive income for Q1 2023 was CNY 726.79 million, a significant decrease from CNY 1.39 billion in Q1 2022, indicating a decline of 47.92%[33]. Assets and Liabilities - The total assets at the end of Q1 2023 were approximately ¥770.45 billion, an increase of 15.87% from ¥664.92 billion at the end of the previous year[5]. - The company's total assets reached CNY 770.45 billion as of March 31, 2023, compared to CNY 664.92 billion at the end of 2022, indicating a growth of 15.87%[32]. - The total liabilities increased to approximately CNY 606.38 billion from CNY 499.58 billion, reflecting a rise of about 21.51%[26]. - The company's inventory as of March 31, 2023, was approximately CNY 389.70 billion, compared to CNY 361.50 billion at the end of 2022, marking an increase of about 7.79%[24]. - The company's accounts receivable rose to approximately CNY 17.14 billion from CNY 13.21 billion, showing an increase of about 29.00%[24]. - The company reported a significant increase in contract liabilities, which rose to approximately CNY 277.87 billion from CNY 227.46 billion, a growth of about 22.16%[25]. Cash Flow - The company reported a cash flow deficit from operating activities of approximately ¥12.05 billion, compared to a deficit of ¥33.29 billion in the same period last year[4]. - The net cash flow from operating activities for the reporting period decreased significantly to CNY -12,053,668,249.85, an increase of approximately CNY 21.23 billion compared to the same period last year, primarily due to increased sales receipts in the real estate sector[17]. - Cash flow from operating activities was CNY 244.02 billion in Q1 2023, compared to CNY 204.11 billion in Q1 2022, an increase of 19.57%[33]. - The net cash flow from operating activities for Q1 2023 was -12,053,668,249.85, an improvement from -33,285,157,323.49 in Q1 2022[34]. - Total cash inflow from operating activities was 252,627,440,566.31, compared to 214,260,281,697.95 in the same period last year, representing an increase of approximately 17.9%[34]. - Cash outflow from operating activities totaled 264,681,108,816.16, up from 247,545,439,021.44 in Q1 2022, indicating a rise of about 6.9%[34]. Investments and Acquisitions - The company plans to acquire a 23.95% stake in Red Star Macalline from Red Star Holdings, with the transaction expected to constitute a major asset restructuring[21]. - The company has signed a framework agreement for the share transfer, with the completion subject to regulatory approvals and internal decision-making processes[21]. - The company has highlighted potential risks related to the pledged and frozen shares of Red Star Macalline, which may affect the transfer process[22]. Research and Development - Research and development expenses surged to CNY 39.28 million in Q1 2023, compared to CNY 12.16 million in Q1 2022, marking an increase of 223.36%[32]. Tax and Financial Management - The adjusted income tax expense for Q1 2022 was CNY 391,376,032.64, down from CNY 339,939,674.12, indicating a strategic adjustment in tax management[15]. - The company received tax refunds amounting to 362,404,423.25, an increase from 339,678,147.07 in Q1 2022[34]. Market Strategy - The company plans to continue expanding its market presence and enhancing its product offerings, focusing on new technologies and potential acquisitions to drive growth[16].