TTC(SH:600326)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 531.89 million, a decrease of 23.41% compared to CNY 694.47 million in the same period last year[4]. - The net profit attributable to shareholders for Q1 2023 was a loss of CNY 84.55 million, worsening from a loss of CNY 56.45 million in Q1 2022[9]. - The weighted average return on equity decreased by 0.92 percentage points to -2.20%[4]. - The net profit for Q1 2023 was -106,676,569.15 RMB, compared to -70,385,313.91 RMB in Q1 2022, indicating a decline of approximately 51.5% year-over-year[32]. - Operating profit for Q1 2023 was -112,280,801.25 RMB, compared to -68,794,425.30 RMB in the same period last year, reflecting a worsening performance[34]. - The total comprehensive income for Q1 2023 was -106,676,569.15 RMB, compared to -70,385,313.91 RMB in Q1 2022, indicating a significant increase in losses[32]. - The company's net profit for Q1 2023 was CNY -43,075,555.16, compared to CNY -30,029,099.49 in Q1 2022, indicating a deeper loss year-over-year[42]. Revenue Breakdown - The construction segment's revenue decreased by CNY 178.36 million year-on-year, primarily due to project delays and reduced activity[6]. - The building materials segment's revenue increased by CNY 37.14 million year-on-year, indicating some growth despite overall revenue decline[6]. - The trade segment reported zero revenue for the current period, as the company has ceased trade operations[7]. - Total revenue from sales of goods and services in Q1 2023 was 943,544,657.71 RMB, down from 1,343,365,680.18 RMB in Q1 2022, representing a decrease of about 29.8%[34]. Cash Flow and Liquidity - The company experienced a net cash flow from operating activities of -CNY 713,442.94, indicating cash outflow[4]. - Cash flow from operating activities showed a net outflow of -713,442.94 RMB in Q1 2023, compared to -162,205,016.70 RMB in Q1 2022, indicating an improvement in cash flow management[35]. - The net cash flow from investing activities was -111,497,402.04 RMB, compared to -134,136,706.00 RMB in Q1 2022, indicating a reduction in cash outflow[46]. - The net increase in cash and cash equivalents for Q1 2023 was 21,830,449.16 RMB, contrasting with a decrease of -311,104,942.44 RMB in Q1 2022[46]. Assets and Liabilities - The total assets at the end of Q1 2023 were CNY 13.31 billion, down 2.85% from CNY 13.71 billion at the end of the previous year[5]. - Total liabilities as of March 31, 2023, were 7,482,169,619.98 CNY, down from 7,766,000,518.62 CNY at the end of 2022[28]. - The total liabilities as of March 31, 2023, were CNY 5,060,185,422.71, up from CNY 4,913,906,817.08 at the end of 2022, marking an increase of about 2.99%[39]. - Cash and cash equivalents as of March 31, 2023, were 2,804,864,463.77 CNY, down from 2,908,250,904.27 CNY at the end of 2022[26]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 71,090[15]. - The top shareholder, Tibet Construction Material Group Co., Ltd., holds 21.31% of the shares, totaling 196,200,592 shares[16]. Segment Performance - The construction segment reported a net profit of -49,264,048.12 CNY, down 23,149,576.89 CNY year-on-year due to increased costs from labor and materials[23]. - The building materials segment's net profit was -29,622,034.60 CNY, a decrease of 1,772,054.77 CNY, primarily due to a decline in revenue from asphalt concrete sales[23]. - Other segments experienced a net profit of -5,662,548.58 CNY, a decrease of 3,134,885.38 CNY, attributed to reduced income from monitoring services and increased labor costs[23]. Expenses and Investments - Research and development expenses increased by 365.58%, primarily due to increased investment in new projects[16]. - Tax and additional charges rose by 118.92%, attributed to increased sales revenue in the building materials segment[16]. - The company reported an increase in financial expenses, with interest expenses at 43,194,140.78 RMB in Q1 2023, compared to 44,203,869.31 RMB in Q1 2022[34].