柳化股份(600423) - 2023 Q1 - 季度财报

Important Notes This section provides essential declarations from the board and management, along with the audit status of the financial statements Declaration by Board of Directors, Supervisory Board, and Senior Management The company's board, supervisory board, and senior management declare the quarterly report's content to be true, accurate, and complete, assuming legal responsibility - The company's board of directors, supervisory board, and directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, free from false records, misleading statements, or major omissions, and assume individual and joint legal responsibility[3] Audit Status of Financial Statements The financial statements for the first quarter of this reporting period are unaudited - The financial statements for the first quarter are unaudited[3] Key Financial Data This section presents the company's primary accounting data, financial indicators, non-recurring gains and losses, and explanations for significant changes Key Accounting Data and Financial Indicators In Q1 2023, operating revenue decreased by 11.31% year-over-year, and net profit attributable to shareholders decreased by 39.39%, while net cash flow from operating activities increased by 91.81%; total assets at period-end grew by 2.53% from year-end Key Accounting Data and Financial Indicators | Item | Current Reporting Period (Yuan) | Year-over-year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 29,435,798.46 | -11.31 | | Net Profit Attributable to Shareholders of Listed Company | 2,020,023.05 | -39.39 | | Net Cash Flow from Operating Activities | 12,357,605.36 | 91.81 | | Basic Earnings Per Share (Yuan/share) | 0.003 | -25.00 | | Weighted Average Return on Net Assets (%) | 0.46 | Decrease 0.33 percentage points | Key Balance Sheet Data | Item | End of Current Reporting Period (Yuan) | End of Previous Year (Yuan) | Change from Previous Year-end (%) | | :--- | :--- | :--- | :--- | | Total Assets | 526,121,797.03 | 513,141,913.12 | 2.53 | | Total Equity Attributable to Shareholders of Listed Company | 438,240,440.15 | 436,830,628.08 | 0.32 | Non-Recurring Gains and Losses and Amounts Total non-recurring gains and losses for this period amounted to 2,641.38 Yuan, primarily from government subsidies recognized in current profit or loss Non-Recurring Gains and Losses | Item | Current Period Amount (Yuan) | | :--- | :--- | | Government subsidies recognized in current profit or loss | 2,641.38 | | Total | 2,641.38 | Changes and Reasons for Key Accounting Data and Financial Indicators Several balance sheet items, including accounts receivable, prepayments, and construction in progress, significantly increased due to higher credit sales, advance payments for purchases/expenses, and technical renovation investments; the decline in profit was mainly due to the sluggish hydrogen peroxide market, which reduced selling prices and compressed profit margins; increased operating cash inflow primarily resulted from the settlement of maturing bank acceptance bills Changes and Reasons for Key Accounting Data and Financial Indicators | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Accounts Receivable | 57.86 | Primarily due to increased credit sales in the current period | | Prepayments | 2,033.38 | Primarily due to increased advance payments for purchases | | Other Receivables | 845.56 | Primarily due to increased advance payments for expenses | | Construction in Progress | 206.67 | Primarily due to investment in related technical renovation projects | | Other Non-current Assets | 433.68 | Primarily due to increased advance payments for long-term asset acquisitions | | Contract Liabilities | 225.96 | Primarily due to increased advance receipts from customers for goods | | Operating Profit | -39.39 | Primarily due to the sluggish 27.5% hydrogen peroxide market in the current period, leading to a decrease in selling prices compared to the same period last year, which compressed profit margins | | Net Cash Flow from Operating Activities | 91.81 | Primarily due to an increase in maturing bank acceptance bills settled in the current period compared to the same period last year | Shareholder Information This section details the total number of common shareholders, preferred shareholders with restored voting rights, and the top ten shareholders' holdings Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 20,857 common shareholders, with state-owned legal entities dominating the top ten, and Liuzhou Yuantong Investment Development Co., Ltd. as the largest shareholder with a 25.22% stake; some state-owned legal entity shareholders have related party or concerted action relationships - Total number of common shareholders at the end of the reporting period was 20,857[9] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Percentage (%) | Share Status | Quantity (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Liuzhou Yuantong Investment Development Co., Ltd. | State-owned Legal Entity | 201,452,434 | 25.22 | None | 0 | | China Construction Bank Corporation Guangxi Branch | State-owned Legal Entity | 49,256,529 | 6.17 | Unknown | 0 | | Liuzhou Chemical Industry Group Co., Ltd. | State-owned Legal Entity | 22,826,167 | 2.86 | Pledged | 17,260,000 | | | | | | Frozen | 22,826,167 | - Liuzhou Yuantong Investment Development Co., Ltd. is a wholly-owned subsidiary of Liuzhou State-owned Assets Supervision and Administration Commission and acts in concert with Liuhua Group; China Construction Bank Corporation Guangxi Branch acts in concert with CCB Financial Leasing Co., Ltd[10] Other Reminders This section addresses any other significant information regarding the company's operating performance during the reporting period that investors should note Other Important Information Regarding the Company's Operating Performance During the Reporting Period That Investors Should Note There is no other important information regarding the company's operating performance during the reporting period that requires special attention from investors - No other important information regarding the company's operating performance during the reporting period requires investor attention[11] Quarterly Financial Statements This section presents the company's unaudited quarterly financial statements, including the balance sheet, income statement, and cash flow statement Type of Audit Opinion The financial statements for this quarter are unaudited - The financial statements for this quarter are unaudited[12] Financial Statements This section includes the company's unaudited balance sheet, income statement, and cash flow statement, reflecting its financial position, operating results, and cash flows for Q1 2023 Balance Sheet As of March 31, 2023, total assets were 526.12 million Yuan, a 2.53% increase from year-end, with monetary funds being the largest current asset and fixed assets/construction in progress as major non-current assets; total liabilities were 87.88 million Yuan, and total owner's equity was 438.24 million Yuan Balance Sheet | Item | March 31, 2023 (Yuan) | December 31, 2022 (Yuan) | | :--- | :--- | :--- | | Monetary Funds | 416,729,471.84 | 408,580,137.82 | | Accounts Receivable | 2,826,744.47 | 1,790,698.53 | | Prepayments | 3,168,143.66 | 148,503.41 | | Construction in Progress | 3,516,124.52 | 1,146,560.73 | | Total Assets | 526,121,797.03 | 513,141,913.12 | | Total Liabilities | 87,881,356.88 | 76,311,285.04 | | Total Owner's Equity | 438,240,440.15 | 436,830,628.08 | Income Statement In Q1 2023, the company achieved operating revenue of 29.44 million Yuan, a 11.31% year-over-year decrease, with operating costs of 28.80 million Yuan, and net profit of 2.02 million Yuan, a 39.39% year-over-year decrease, primarily due to the sluggish hydrogen peroxide market Income Statement | Item | Q1 2023 (Yuan) | Q1 2022 (Yuan) | | :--- | :--- | :--- | | Operating Revenue | 29,435,798.46 | 33,189,922.46 | | Operating Cost | 28,795,082.21 | 30,989,546.43 | | Operating Profit | 2,020,023.05 | 3,332,803.57 | | Net Profit | 2,020,023.05 | 3,332,803.57 | | Basic Earnings Per Share (Yuan/share) | 0.003 | 0.004 | Cash Flow Statement In Q1 2023, net cash flow from operating activities was 12.36 million Yuan, a significant 91.81% year-over-year increase, mainly due to increased cash received from sales; net cash outflow from investing activities was 4.25 million Yuan, primarily for acquiring fixed, intangible, and other long-term assets; period-end cash and cash equivalents totaled 388.59 million Yuan Cash Flow Statement | Item | Q1 2023 (Yuan) | Q1 2022 (Yuan) | | :--- | :--- | :--- | | Cash received from sales of goods and rendering of services | 26,925,587.87 | 17,448,333.68 | | Net Cash Flow from Operating Activities | 12,357,605.36 | 6,442,575.77 | | Cash paid for acquisition of fixed assets, intangible assets, and other long-term assets | 4,251,462.18 | 723,557.10 | | Net Cash Flow from Investing Activities | -4,251,462.18 | -723,557.10 | | Net Increase in Cash and Cash Equivalents | 8,106,143.18 | 5,719,018.67 | | Cash and Cash Equivalents at End of Period | 388,587,214.99 | 368,027,745.00 | Adjustments to Financial Statements at the Beginning of the First Year of Application of New Accounting Standards or Interpretations from 2023 The company did not adjust its opening financial statements for the current reporting period due to the initial application of new accounting standards or interpretations - No adjustments were made to the opening financial statements for the current reporting period due to the initial application of new accounting standards or interpretations[19]