ZMC(SH:600216)2023-04-25 16:00Financial Performance - The net profit for Q1 2023 was CNY 84,072,216.08, a decrease of 60.9% compared to CNY 214,844,440.33 in Q1 2022[17] - The total revenue for Q1 2023 was CNY 105,302,495.52, down from CNY 268,017,651.01 in the same period last year, indicating a decline of 60.7%[17] - The total comprehensive income for Q1 2023 was CNY 85,331,152.98, down from CNY 210,743,400.09 in Q1 2022[17] - The net profit attributable to shareholders was ¥113,551,849.15, down 56.42% year-over-year, primarily due to a significant decline in the selling price of the main product, VA[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥98,141,772.45, a decrease of 61.55% compared to the previous year[20] - The basic and diluted earnings per share were both ¥0.12, reflecting a decline of 55.56% year-over-year[20] - The comprehensive income attributable to the parent company's owners was ¥114,760,535.24, down from ¥256,763,499.85 in the same period last year[34] Shareholder Information - The company reported a total of 68,061 common shareholders at the end of the reporting period[9] - The total number of shares held by the largest shareholder, New Changxing Changxin Investment Development Co., Ltd., was 208,192,361, representing 21.57% of total shares[9] Assets and Liabilities - The total liabilities amounted to CNY 2,660,022,342.62, a slight decrease from CNY 2,722,757,157.71 in the previous period[15] - The total equity attributable to shareholders of the parent company was CNY 9,401,601,058.23, an increase from CNY 9,259,881,857.33[15] - The total current assets as of March 31, 2023, amounted to CNY 5,607,508,474.35, slightly down from CNY 5,654,960,631.32 at the end of 2022[40] - The total non-current assets increased to CNY 6,875,763,833.60 from CNY 6,777,655,573.75 at the end of 2022[41] - The total assets reached CNY 12,483,272,307.95, up from CNY 12,432,616,205.07 at the end of 2022[41] Cash Flow - The net cash flow from operating activities increased by 111.26% to ¥19,934,634.67, mainly due to a reduction in payments for raw materials[24] - In Q1 2023, the cash inflow from operating activities was CNY 1,923,099,171.73, a decrease of 7.04% from CNY 2,068,968,525.42 in Q1 2022[35] - The net cash flow from operating activities was CNY 19,934,634.67, compared to a net outflow of CNY -177,050,453.00 in the same period last year[48] - The cash outflow from investing activities was CNY 493,879,019.83, down from CNY 583,112,675.51 in Q1 2022[48] - The cash flow from financing activities resulted in a net outflow of CNY -7,214,513.92, compared to a net inflow of CNY 71,569,874.78 in the same period last year[48] - The company reported a decrease in cash received from operating activities, with a drop of CNY 133,769,353.69 compared to the previous year[48] - The company’s cash flow from investment activities showed a significant improvement, with a reduction in net outflow by CNY 214,484,790.54 year-over-year[48] Accounting Standards and Compliance - Zhejiang Pharmaceutical Co., Ltd. will implement new accounting standards starting in 2023, affecting the financial statements from the beginning of the year[50] - The board of directors announced the financial report on April 25, 2023, indicating a commitment to transparency and compliance with updated regulations[51] - The company is focused on enhancing its financial reporting practices to align with the latest accounting guidelines[50] - There are no adjustments reported for the first execution year of the new accounting standards, indicating stability in financial reporting[50] - The company aims to maintain its market position while adapting to new regulatory requirements[51] - Future financial outlook remains cautiously optimistic as the company navigates the changes in accounting standards[50] - The board emphasizes the importance of accurate financial data in strategic decision-making processes[51] - The implementation of new standards is expected to improve the overall quality of financial disclosures[50] - The company is committed to ongoing evaluation of its financial practices to ensure compliance and accuracy[51] - No significant changes in user data or market expansion strategies were disclosed during the call[51]