HY Energy(SH:600387)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 618,494,686.88, a decrease of 53.27% compared to the same period last year[5]. - The net profit attributable to shareholders was CNY 16,790,635.60, down by 1.81% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 14,140,641.49, an increase of 98.41% compared to the previous year[5]. - Basic earnings per share for the period was CNY 0.04, unchanged from the previous year[6]. - Total operating revenue for Q1 2023 was ¥618,494,686.88, a decrease of 53.3% compared to ¥1,323,463,078.85 in Q1 2022[18]. - Total operating costs for Q1 2023 were ¥595,030,354.07, down 53.8% from ¥1,290,641,537.48 in Q1 2022[18]. - Net profit for Q1 2023 was ¥17,157,070.11, a decline of 13.1% from ¥19,738,614.66 in Q1 2022[19]. - Earnings per share remained stable at ¥0.04 for both Q1 2023 and Q1 2022[19]. - The company reported a total comprehensive income of ¥15,488,196.59 for Q1 2023, compared to ¥4,793,379.55 in Q1 2022[19]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 195,884,177.41, an increase in outflow of 79.45% year-on-year[5]. - Cash flow from operating activities showed a net outflow of ¥195,884,177.41 in Q1 2023, an improvement from a net outflow of ¥953,091,405.80 in Q1 2022[21]. - The net cash flow from investing activities was -$64,695,878.44, compared to -$28,535,673.60 in the previous period[22]. - The net cash flow from financing activities was -$69,058,208.32, compared to $2,899,896.09 in the previous period[22]. - The net increase in cash and cash equivalents was -$330,407,521.55, compared to -$978,736,110.22 in the previous period[22]. - The ending balance of cash and cash equivalents was $319,564,455.22, down from $703,219,237.10 in the previous period[22]. - The company received $1,500,000.00 from minority shareholders' investments during the quarter[22]. - The company obtained $10,100,000.00 in borrowings during the quarter[22]. - The company paid $558,208.32 in dividends and interest during the quarter[22]. - The impact of exchange rate changes on cash and cash equivalents was -$769,257.38[22]. Assets and Liabilities - Total assets at the end of the period were CNY 4,256,463,682.01, a decrease of 5.50% from the end of the previous year[6]. - Total current assets as of March 31, 2023, amounted to ¥2,434,795,970.46, a decrease from ¥2,691,593,734.21 as of December 31, 2022, representing a decline of approximately 9.54%[14]. - Cash and cash equivalents decreased to ¥606,406,432.10 from ¥976,420,549.96, indicating a reduction of about 38%[14]. - Accounts receivable decreased to ¥121,622,440.03 from ¥179,221,849.06, reflecting a decline of approximately 32.2%[14]. - Inventory increased to ¥657,412,601.30 from ¥504,767,634.66, showing an increase of about 30.2%[14]. - Total non-current assets as of March 31, 2023, were ¥1,821,667,711.55, slightly up from ¥1,812,381,592.34, indicating a growth of approximately 0.7%[15]. - Total liabilities decreased to ¥944,150,487.87 in Q1 2023 from ¥1,176,002,014.32 in Q1 2022[16]. - Total equity attributable to shareholders increased slightly to ¥3,129,970,902.77 in Q1 2023 from ¥3,115,650,660.47 in Q1 2022[16]. Operational Changes - The company's cash and cash equivalents decreased by 37.89%, primarily due to repayment of short-term loans and increased inventory purchases[9]. - Inventory increased by 30.24%, mainly due to increased procurement by a wholly-owned subsidiary[9]. - Short-term borrowings decreased by 45.23%, attributed to the repayment of due short-term loans[10]. - The company reported a significant increase in tax and additional charges by 82.33%, mainly due to increased taxes from subsidiaries[10]. - Accounts payable decreased to ¥137,420,589.12 from ¥146,629,623.58, reflecting a decline of about 6.5%[15]. - Contract liabilities decreased to ¥193,342,583.89 from ¥287,052,182.04, indicating a reduction of approximately 32.7%[15]. Strategic Developments - The company has not disclosed any significant new product developments or market expansion strategies in the current report[13].