NSWRC(SH:600165)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥46,109,368.75, representing a decrease of 72.34% compared to the same period last year[3] - The net profit attributable to shareholders was -¥58,433,529.67, indicating a significant loss[3] - The company reported a basic and diluted earnings per share of -¥0.085[3] - The weighted average return on equity was -9.737%[3] - Total revenue for Q1 2023 was CNY 46,109,368.75, a decrease of 72.5% compared to CNY 166,716,293.63 in Q1 2022[16] - Net loss for Q1 2023 was CNY 66,686,256.61, compared to a net loss of CNY 27,903,539.27 in Q1 2022, representing a 139.2% increase in losses[17] - Basic and diluted earnings per share for Q1 2023 were both CNY -0.085, compared to CNY -0.034 in Q1 2022[18] - Total equity attributable to shareholders was CNY 571,150,551.54, down from CNY 629,309,835.41 in Q1 2022, a decrease of 9.2%[16] Cash Flow and Liquidity - The net cash flow from operating activities was -¥42,832,422.48, reflecting a decline in cash generation[3] - Operating cash flow for Q1 2023 was negative CNY 42,832,422.48, an improvement from negative CNY 87,572,135.13 in Q1 2022[18] - Cash inflow from operating activities was CNY 55,549,016.24 in Q1 2023, compared to CNY 162,513,832.34 in Q1 2022, a decline of 65.9%[18] - The company's cash and cash equivalents decreased to ¥35,779,145.22 from ¥89,483,876.89, representing a significant decline of approximately 60%[13] - The cash and cash equivalents at the end of the period were 9,415,253.24, down from 26,318,342.47 in the prior period[19] - The company reported a net decrease in cash and cash equivalents of -33,789,917.96, compared to -66,679,303.33 in the prior period[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,216,319,042.22, down 1.90% from the previous year-end[4] - Total liabilities as of Q1 2023 were CNY 2,388,649,968.19, slightly up from CNY 2,384,616,750.65 in Q1 2022[16] - Shareholders' equity attributable to the company was ¥571,150,551.54, a decrease of 9.24% compared to the previous year-end[4] - The company's non-current assets totaled ¥3,007,334,369.72, down from ¥3,026,839,472.43, indicating a decrease of about 0.6%[14] Operational Challenges - The company is currently facing risks related to the temporary suspension of operations at its subsidiary, Zhongke New Materials, due to a breach of capital contribution agreement by Jinan Changyue, which has led to a halt in production[10] - The company is actively seeking financing solutions to address the operational challenges at Zhongke New Materials and aims to resume production within three months[11] - The company has disclosed that it will not pursue preferential subscription rights in the capital increase of its subsidiary, Zhongke New Materials, which may impact future capital structure and funding strategies[10] Changes in Expenses and Receivables - The company experienced a 90.33% increase in prepayments, primarily due to advance payments for technical services by its subsidiary[7] - The company’s sales expenses decreased by 43.55%, attributed to a decline in sales volume at its subsidiary[7] - Accounts receivable decreased to ¥27,483,532.85 from ¥32,676,410.20, a reduction of about 16%[13] - Inventory increased to ¥112,904,551.57 from ¥109,305,912.49, showing a slight increase of approximately 2.4%[14] Financing Activities - Cash inflow from financing activities totaled 188,400,000.00, an increase from 153,980,498.05 in the prior period[19] - The company received 134,600,000.00 in borrowings, up from 115,000,000.00 in the previous period[19] - The net cash flow from financing activities was 9,824,818.42, a decrease from 29,394,200.76 in the previous period[19]