江淮汽车(600418) - 2023 Q1 - 季度财报

Report Overview Key Highlights This report is Anhui Jianghuai Automobile Group Corp., Ltd.'s Q1 2023 report, with its content guaranteed by management, and financial statements are unaudited - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content[3] - The financial statements for this quarter are unaudited[3] Key Financial Data Key Accounting Data and Financial Indicators In Q1 2023, the company's operating revenue increased by 10.32% to 10.769 billion yuan, net profit attributable to shareholders turned profitable at 148 million yuan, and net cash flow from operating activities grew by 54.84% Key Accounting Data and Financial Indicators for Q1 2023 | Item | Current Period (yuan) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 10,768,553,474.06 | 10.32 | | Net Profit Attributable to Shareholders of Listed Company | 148,002,787.32 | Not Applicable | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | -101,666,137.62 | Not Applicable | | Net Cash Flow from Operating Activities | 1,803,778,087.06 | 54.84 | | Basic Earnings Per Share (yuan/share) | 0.07 | Not Applicable | | Diluted Earnings Per Share (yuan/share) | 0.07 | Not Applicable | | Weighted Average Return on Net Assets (%) | 1.08 | Increased by 3.00 percentage points | | End of Current Period vs. End of Previous Year | | | | Total Assets | 49,818,781,775.94 | 5.81 | | Total Equity Attributable to Shareholders of Listed Company | 13,777,575,724.88 | 0.98 | Non-Recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for this period amounted to 250 million yuan, mainly from government subsidies and fair value changes of financial assets Non-Recurring Gains and Losses Items and Amounts for Q1 2023 | Item | Amount for Current Period (yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -1,618,940.80 | | Government Subsidies Recognized in Current Profit/Loss | 231,723,932.03 | | Gains/Losses from Fair Value Changes and Investment Income from Trading Financial Assets, Derivative Financial Assets, etc. | 22,307,380.02 | | Reversal of Impairment Provisions for Accounts Receivable and Contract Assets Subject to Separate Impairment Testing | 9,402,990.49 | | Other Non-Operating Income and Expenses | 3,852,071.12 | | Less: Income Tax Impact | 10,072,456.37 | | Minority Interests Impact (After Tax) | 5,926,051.55 | | Total | 249,668,924.94 | Analysis of Financial Indicator Changes Net profit attributable to shareholders increased due to strong international export business, while net cash flow from operating activities rose from tax refunds and bill discounts - Net profit attributable to shareholders of the listed company increased year-on-year, primarily due to sustained strong international export business and a year-on-year increase in operating profit[8] - Net profit attributable to shareholders of the listed company (excluding non-recurring gains/losses) saw a reduced loss year-on-year, mainly due to increased gross profit from main operations during the reporting period[8] - Net cash flow from operating activities increased by 54.84%, primarily due to increased tax refunds and bill discount proceeds received during the reporting period[8] Shareholder Information Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the report period end, the company had 219,200 common shareholders, with Anhui Jianghuai Automobile Group Holdings Co., Ltd. as the largest shareholder at 28.18% holding - As of the end of the reporting period, the total number of common shareholders was 219,200[10] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Ratio (%) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | Anhui Jianghuai Automobile Group Holdings Co., Ltd. | State-owned Legal Person | 615,400,702 | 28.18 | 290,697,674 | | Anhui Provincial State-owned Capital Operation Holding Group Co., Ltd. | State-owned Legal Person | 82,939,450 | 3.80 | 0 | | Hefei State-owned Assets Holding Co., Ltd. | State-owned Legal Person | 73,726,895 | 3.38 | 0 | | JianTou Investment Co., Ltd. | State-owned Legal Person | 38,957,797 | 1.78 | 0 | | Anhui Provincial Department of Finance | State | 36,540,923 | 1.67 | 0 | | China Construction Bank Co., Ltd. - Penghua CSI-SZ-HK Emerging Growth Flexible Allocation Mixed Securities Investment Fund | Unknown | 26,092,560 | 1.19 | 0 | | Industrial and Commercial Bank of China Co., Ltd. - Penghua New Energy Vehicle Theme Mixed Securities Investment Fund | Unknown | 14,207,353 | 0.65 | 0 | | Pi Minrong | Domestic Natural Person | 13,332,897 | 0.61 | 0 | | Anhui Provincial Railway Development Fund Co., Ltd. | State-owned Legal Person | 13,215,463 | 0.61 | 0 | | Chen Yongchun | Domestic Natural Person | 12,934,200 | 0.59 | 0 | - Pi Minrong holds 0 shares through ordinary securities accounts and 13,332,897 shares through margin trading and securities lending accounts. Chen Yongchun holds 845,200 shares through ordinary securities accounts and 12,089,000 shares through margin trading and securities lending accounts[12] Other Reminders The company states there are no other significant operational information requiring investor attention during the reporting period - The company's operating situation during the reporting period has no other significant information requiring investor attention[13] Quarterly Financial Statements Type of Audit Opinion The financial statements for this quarter are unaudited - The financial statements for this quarter are unaudited[13] Consolidated Balance Sheet As of March 31, 2023, total assets reached 49.819 billion yuan, a 5.81% increase from 2022 year-end, with total liabilities at 35.631 billion yuan Consolidated Balance Sheet Key Data (As of March 31, 2023) | Item | March 31, 2023 (yuan) | December 31, 2022 (yuan) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 13,109,700,618.69 | 12,714,128,663.33 | | Accounts Receivable | 4,638,355,295.54 | 3,078,454,180.96 | | Inventories | 4,634,300,120.18 | 3,388,319,634.17 | | Total Current Assets | 27,952,215,509.75 | 25,102,530,144.81 | | Long-term Equity Investments | 5,267,344,500.26 | 5,206,119,391.16 | | Fixed Assets | 11,469,907,211.24 | 11,767,595,037.67 | | Total Non-Current Assets | 21,866,566,266.19 | 21,980,156,198.81 | | Total Assets | 49,818,781,775.94 | 47,082,686,343.62 | | Short-term Borrowings | 596,275,430.62 | 916,885,163.96 | | Notes Payable | 7,918,478,681.47 | 7,354,373,131.06 | | Accounts Payable | 11,492,436,238.92 | 8,547,362,569.42 | | Total Current Liabilities | 28,985,427,268.19 | 26,128,585,908.27 | | Long-term Borrowings | 5,357,600,000.00 | 5,559,092,222.22 | | Total Non-Current Liabilities | 6,645,621,641.27 | 6,886,890,675.22 | | Total Liabilities | 35,631,048,909.46 | 33,015,476,583.49 | | Total Equity Attributable to Parent Company Shareholders | 13,777,575,724.88 | 13,643,374,497.90 | | Total Equity | 14,187,732,866.48 | 14,067,209,760.13 | - Total assets increased by 5.81% compared to the end of the previous year[5] Consolidated Income Statement In Q1 2023, total operating revenue was 10.786 billion yuan, up 10.26% year-on-year, with net profit turning profitable at 135 million yuan Consolidated Income Statement Key Data (Q1 2023) | Item | Q1 2023 (yuan) | Q1 2022 (yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 10,785,585,808.12 | 9,782,033,615.90 | | Operating Cost | 9,522,760,111.26 | 9,085,035,834.78 | | Selling Expenses | 337,756,963.07 | 297,817,410.13 | | Administrative Expenses | 364,223,636.79 | 391,344,780.57 | | R&D Expenses | 369,511,618.63 | 294,734,122.57 | | Financial Expenses | 52,261,982.39 | 46,434,378.20 | | Other Income | 231,723,932.03 | 192,236,451.98 | | Investment Income | 641,275.28 | 52,447,905.69 | | Credit Impairment Losses | -75,609,345.66 | -61,536,412.68 | | Gains from Asset Disposal | -18,700,569.61 | -11,945,215.99 | | Operating Profit | 176,366,189.45 | -262,870,873.60 | | Total Profit | 176,516,578.83 | -264,408,893.65 | | Income Tax Expense | 41,771,542.19 | 67,354,856.41 | | Net Profit | 134,745,036.64 | -331,763,750.06 | | Net Profit Attributable to Parent Company Shareholders | 148,002,787.32 | -290,199,501.59 | | Basic Earnings Per Share (yuan/share) | 0.07 | -0.13 | - Total operating revenue increased by 10.26% year-on-year[17] - Net profit turned profitable, from a loss of 332 million yuan in the same period last year to a profit of 135 million yuan[19] Consolidated Cash Flow Statement In Q1 2023, net cash flow from operating activities was 1.804 billion yuan, up 54.84% year-on-year, with cash and cash equivalents at 11.105 billion yuan Consolidated Cash Flow Statement Key Data (Q1 2023) | Item | Q1 2023 (yuan) | Q1 2022 (yuan) | | :--- | :--- | :--- | | Cash Received from Sales of Goods and Services | 8,695,208,260.00 | 9,385,525,080.32 | | Tax Refunds Received | 559,807,609.33 | 328,996,773.64 | | Subtotal of Cash Inflows from Operating Activities | 9,574,982,298.35 | 9,947,650,611.85 | | Cash Paid for Goods and Services | 6,252,231,408.08 | 7,316,372,082.02 | | Cash Paid to and for Employees | 936,562,600.34 | 1,112,141,621.54 | | Subtotal of Cash Outflows from Operating Activities | 7,771,204,211.29 | 8,782,708,867.68 | | Net Cash Flow from Operating Activities | 1,803,778,087.06 | 1,164,941,744.17 | | Subtotal of Cash Inflows from Investing Activities | 4,602,503,309.61 | 1,990,608,201.49 | | Subtotal of Cash Outflows from Investing Activities | 4,762,303,705.64 | 2,160,563,628.64 | | Net Cash Flow from Investing Activities | -159,800,396.03 | -169,955,427.15 | | Subtotal of Cash Inflows from Financing Activities | 1,816,388,012.38 | 2,740,500,000.00 | | Subtotal of Cash Outflows from Financing Activities | 2,922,708,342.40 | 3,464,770,281.57 | | Net Cash Flow from Financing Activities | -1,106,320,330.02 | -724,270,281.57 | | Net Increase in Cash and Cash Equivalents | 531,681,993.30 | 264,549,966.63 | | Cash and Cash Equivalents at End of Period | 11,104,968,126.30 | 9,010,831,298.52 | - Net cash flow from operating activities increased by 54.84% year-on-year[4][8] Implementation of New Accounting Standards The company did not adjust its early 2023 financial statements due to the first-time adoption of new accounting standards or interpretations - The company did not adjust its early 2023 financial statements due to the first-time adoption of new accounting standards or interpretations[23]