ACHT(SH:600207)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,221,960,696.64, representing a year-on-year increase of 57.02%[5] - The net profit attributable to shareholders decreased by 47.86% to CNY 10,112,604.99 due to reduced product margins from lower prices of photovoltaic and float glass products[7] - The basic earnings per share (EPS) fell by 58.67% to CNY 0.0093, attributed to the decrease in net profit and an increase in share capital[7] - Net profit for Q1 2023 was ¥16,694,681.88, a decrease of 21.8% from ¥21,211,338.19 in Q1 2022[18] - The net profit attributable to shareholders of the parent company was ¥10,112,604.99, down 47.9% from ¥19,395,658.23 in Q1 2022[18] - Basic and diluted earnings per share for Q1 2023 were both ¥0.0093, compared to ¥0.0225 in Q1 2022[18] Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,589,367,050.79, down 10.81% from the previous year[6] - As of March 31, 2023, total assets amounted to approximately RMB 6.59 billion, a decrease from RMB 7.39 billion at the end of 2022[14] - Total liabilities decreased to ¥3,312,758,196.03 in Q1 2023 from ¥4,129,703,189.68 in Q1 2022, a reduction of 19.8%[15] - Non-current liabilities totaled ¥1,209,219,572.54 in Q1 2023, down from ¥1,436,692,953.95 in Q1 2022, reflecting a decrease of 16.0%[15] - The total equity attributable to shareholders of the parent company increased slightly to ¥3,136,036,933.71 from ¥3,124,904,008.90 in Q1 2022[15] Cash Flow - The net cash flow from operating activities was negative at CNY -350,727,143.06, indicating cash outflow during the period[5] - Net cash flow from operating activities in Q1 2023 was negative at approximately -$350.73 million, compared to a positive cash flow of $14.50 million in Q1 2022[21] - Total cash outflow from operating activities in Q1 2023 was approximately $1.38 billion, compared to $781.94 million in Q1 2022, reflecting a substantial increase[21] - Cash received from sales and services in Q1 2023 was approximately $993.73 million, up from $777.55 million in Q1 2022, representing a year-over-year increase of 27.8%[21] - Total cash inflow from financing activities in Q1 2023 was approximately $688.72 million, compared to $428.59 million in Q1 2022, marking a 60.7% increase[22] - Cash outflow for debt repayment in Q1 2023 was approximately $1.19 billion, significantly higher than $60 million in Q1 2022[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 38,243[9] - The largest shareholder, Henan Investment Group Co., Ltd., holds 41.00% of the shares, with 85,000,000 shares pledged[9] Strategic Focus - The company plans to focus on improving product margins and exploring new market opportunities to enhance future performance[7] - The company faced challenges with product price declines and rising raw material costs, but managed to maintain stable operations through cost control and sales expansion efforts[12] - The company is advancing projects related to neutral borosilicate medicinal glass and silicon-based quartz sand processing to build future growth momentum[12] - The sales proportion of 2.0mm photovoltaic glass products was increased, and overseas market demand was tracked to expand the customer base[12] - The company successfully completed a non-public share issuance to reduce the debt-to-asset ratio and enhance competitiveness[12] Research and Development - Research and development expenses for Q1 2023 were ¥15,324,586.27, an increase of 18.7% from ¥12,906,183.10 in Q1 2022[17] Inventory and Receivables - Current assets totaled approximately RMB 2.73 billion, down from RMB 3.57 billion at the end of 2022[14] - Accounts receivable decreased to approximately RMB 554.91 million from RMB 650.74 million at the end of 2022[13] - Inventory increased to approximately RMB 496.23 million, up from RMB 392.30 million at the end of 2022[14] - Short-term borrowings decreased to approximately RMB 630.00 million from RMB 1.17 billion at the end of 2022[14] Cash and Cash Equivalents - Cash and cash equivalents were reported at approximately RMB 552.36 million, significantly lower than RMB 1.83 billion at the end of 2022[13] - The ending cash and cash equivalents balance as of the end of Q1 2023 was approximately $349.47 million, down from $220.52 million at the end of Q1 2022[22] - The impact of exchange rate changes on cash and cash equivalents in Q1 2023 was approximately -$1.48 million, compared to a positive impact of $97,500 in Q1 2022[22] - The company reported a significant increase in cash outflow for employee payments, totaling approximately $97.90 million in Q1 2023, compared to $55.00 million in Q1 2022[21]