SFX(SH:600370)2023-04-28 16:00Financial Performance - The net profit attributable to shareholders decreased by 73.59% to CNY 101,976,815.38 year-on-year [12]. - Basic earnings per share dropped by 73.56% to CNY 0.0262 [12]. - The revenue for the first quarter was CNY 4,952,206,483.41, reflecting a decline of 7.14% year-on-year [12]. - Total operating revenue for Q1 2023 was ¥4,952,206,483.41, a decrease of 7.1% from ¥5,333,135,313.70 in Q1 2022 [23]. - Net profit for Q1 2023 was ¥101,976,815.38, down 73.6% from ¥386,077,269.62 in Q1 2022 [25]. - The company reported a decrease in gross margin due to lower sales prices of its main products, impacting profitability [15]. Cash Flow - The net cash flow from operating activities was negative at CNY -368,668,407.31, indicating a decrease in cash received from sales [12]. - The net cash flow from investing activities was negative at CNY -135,842,053.89, an improvement from the previous year's loss of CNY -173,607,192.96 [2]. - The net cash flow from financing activities increased significantly to CNY 2,133,225,187.94, compared to CNY 698,773,603.88 in the previous year [2]. - The cash and cash equivalents at the end of the period amounted to CNY 2,538,420,043.64, up from CNY 670,951,874.24 at the end of the previous year [2]. - In Q1 2023, the company's cash inflow from operating activities was approximately CNY 4.74 billion, a decrease of 4.3% compared to CNY 4.95 billion in Q1 2022 [26]. - The net cash outflow from operating activities in Q1 2023 was CNY -368.67 million, worsening from CNY -186.12 million in the same period last year [26]. - The total cash outflow from operating activities was CNY 5.11 billion in Q1 2023, slightly down from CNY 5.14 billion in Q1 2022 [26]. Assets and Liabilities - The total assets increased by 13.26% to CNY 16,288,489,545.41 compared to the end of the previous year [8]. - Total liabilities increased to approximately ¥9.03 billion, up from ¥7.63 billion, reflecting a growth of about 18.2% year-over-year [38]. - Shareholders' equity rose to approximately ¥7.26 billion, compared to ¥6.75 billion, marking an increase of around 7.5% year-over-year [39]. - The company's total liabilities include a significant portion of pledged shares, with the largest shareholder holding 76.16% of the shares [32]. - Contract liabilities increased to ¥554.96 million from ¥458.54 million, representing a growth of approximately 20.9% [38]. - The company reported a decrease in employee compensation payable from ¥82.31 million to ¥46.76 million, a reduction of about 43.3% [38]. - Long-term borrowings decreased to ¥124.82 million from ¥140.77 million, a decline of approximately 11.4% [38]. Investment and Expenses - Investment income increased to ¥88,940,164.96 in Q1 2023 from ¥39,795,978.09 in Q1 2022 [25]. - Research and development expenses decreased to ¥1,301,912.62 in Q1 2023 from ¥1,717,098.60 in Q1 2022, reflecting a reduction of 24.2% [23]. - The company achieved an investment income of CNY 86.30 million in Q1 2023 [26]. - The company’s cash flow from the disposal of fixed assets and other long-term assets was CNY 307.94 thousand in Q1 2023 [26]. Other Financial Metrics - The weighted average return on net assets decreased by 4.32 percentage points to 1.44% [12]. - Other comprehensive income after tax for Q1 2023 was ¥515,978.94, compared to a loss of ¥711,749.26 in Q1 2022 [25]. - Other comprehensive income increased to ¥1.48 million from ¥0.96 million, reflecting a growth of approximately 53.5% [39]. - The company maintained a stable capital reserve of ¥871.74 million, unchanged from the previous period [39]. - The company is not applying new accounting standards for the first quarter of 2023, ensuring consistency in financial reporting [44].