MIHF(SH:600337)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥1,116,726,929.07, representing an increase of 11.22% compared to ¥1,004,051,071.38 in the same period last year[7]. - The net profit attributable to shareholders of the listed company improved to -¥49,027,837.31, a 50.13% reduction in losses from -¥99,334,005.87 year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥50,454,826.30, reflecting a 48.39% improvement compared to -¥98,778,307.44 in the previous year[7]. - Basic and diluted earnings per share improved by 57.14%, both at -¥0.03 compared to -¥0.07 in the previous year[8]. - The weighted average return on equity increased by 1.07 percentage points to -1.19% from -2.28%[8]. - The significant improvement in net profit is attributed to a substantial increase in domestic retail direct sales revenue compared to the same period last year[13]. - The total comprehensive loss for Q1 2023 was CNY -65,147,405.51, compared to CNY -104,034,748.92 in Q1 2022, indicating an improvement in overall financial performance[28]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 95.21%, reaching -¥13,946,868.62, compared to -¥291,129,447.50 in the same period last year[7]. - The increase in cash flow from operating activities is due to higher cash receipts from sales and a reduction in cash payments for goods and services[13]. - Cash generated from operating activities in Q1 2023 was CNY 1,077,343,152.81, an increase from CNY 1,026,907,531.42 in Q1 2022[30]. - The net cash flow from investing activities was -39,467,623.10, compared to -31,369,607.17 in the previous year, reflecting increased investment outflows[32]. - The net cash flow from financing activities was 74,093,533.59, a turnaround from -126,202,619.89 in the previous year, showing improved financing conditions[32]. - The total cash and cash equivalents at the end of the period increased to 761,538,933.89 from 557,217,460.18, marking a positive change[32]. - The company received 673,008,004.69 in cash from borrowings, significantly higher than 244,318,728.31 in the previous year, indicating increased leverage[32]. - The cash paid for purchasing goods and services was 486,616,331.38, down from 600,878,734.10, suggesting cost control measures[31]. - The cash paid to employees was 342,241,153.23, a decrease from 376,584,942.93, indicating potential workforce adjustments[31]. Assets and Liabilities - Total assets at the end of the reporting period were ¥9,837,508,917.22, a 1.56% increase from ¥9,686,201,388.46 at the end of the previous year[8]. - The company's total assets as of March 31, 2023, amounted to 9,837,508,917.22 RMB, an increase from 9,686,201,388.46 RMB at the end of 2022[22]. - The company's cash and cash equivalents increased to 830,137,410.50 RMB from 798,295,004.91 RMB[21]. - Short-term borrowings rose to 1,016,047,487.06 RMB, up from 845,635,937.57 RMB[22]. - The total inventory decreased to 2,232,722,799.32 RMB from 2,304,443,837.03 RMB[21]. - The company's long-term equity investments decreased to 202,913,708.49 RMB from 207,950,148.96 RMB[22]. - The company's total liabilities increased to 3,727,758,723.62 RMB from 3,749,273,771.74 RMB[21]. - The total liabilities as of Q1 2023 amounted to CNY 5,711,514,645.68, compared to CNY 5,508,421,458.43 in Q1 2022, showing an increase of 3.7%[24]. - The total owner's equity, including minority interests, was approximately $4.18 billion, showing stability in shareholder value[38]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 26,132[15]. - Meike Investment Group Co., Ltd. holds 488,449,350 shares, accounting for 32.65% of the total share capital[16]. - Shareholders' equity attributable to the listed company decreased by 1.27% to ¥4,107,253,867.97 from ¥4,160,184,652.19 at the end of the previous year[8]. - Total equity attributable to shareholders was CNY 4,107,253,867.97 in Q1 2023, slightly down from CNY 4,160,184,652.19 in Q1 2022[24]. Research and Development - Research and development expenses for Q1 2023 were CNY 29,086,392.73, up from CNY 19,062,798.71 in Q1 2022, representing an increase of 52.6%[26]. Financial Adjustments - The company is focused on improving its financial metrics through strategic adjustments in accounting policies, as evidenced by the adjustments in profit and tax expenses[39].