SINOCHEM INTERNATIONAL(SH:600500)2023-04-27 16:00Financial Performance - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 117.73% due to the current downturn in the chemical industry and intensified competition, resulting in lower prices and overall performance constraints [4]. - Basic earnings per share fell by 78.57% to CNY 0.03, reflecting significant declines in profitability [12]. - The net profit attributable to shareholders was CNY 112,963,352.98, a decrease of 71.33% compared to the same period last year [22]. - Total operating revenue for Q1 2023 was $14.77 billion, a decrease of 21.5% compared to $18.84 billion in Q1 2022 [42]. - Net profit for Q1 2023 was $194.01 million, a decline of 69.9% from $645.25 million in Q1 2022 [46]. - Total comprehensive income for the first quarter of 2023 was CNY 268,377,886.56, a decrease from CNY 672,075,835.44 in the same period of 2022 [48]. - Net profit attributable to the parent company was CNY 193,859,350.71, down from CNY 430,553,474.96 year-over-year [48]. Assets and Liabilities - Total assets decreased by 17.08% from the end of the previous year, amounting to CNY 58,256,731,057.64 [12]. - The company's total assets decreased to ¥58,256,731,057.64 from ¥70,257,205,941.45, a decline of about 17.1% [31]. - Total liabilities decreased to ¥33,331,334,480.71 from ¥43,714,263,487.29, a reduction of approximately 23.7% [31]. - The company's total liabilities decreased to $20.41 billion in Q1 2023, down from $24.78 billion in Q1 2022, indicating a reduction of 17.6% [42]. - The company's total equity decreased to ¥24,925,396,576.93 from ¥26,542,942,454.16, indicating a decline of about 6.1% [31]. - The total equity attributable to shareholders increased by 3.56% to CNY 18,790,102,260.17 compared to the end of the previous year [12]. Cash Flow - The company reported a net cash flow from operating activities of CNY 137,589,452.19, indicating a significant improvement compared to the previous year [22]. - Cash inflow from operating activities totaled CNY 15,905,771,868.65, a decline from CNY 19,567,889,448.48 in the previous year [51]. - Net cash flow from operating activities was CNY 137,589,452.19, a significant improvement from a net outflow of CNY -974,721,203.68 in Q1 2022 [51]. - The ending balance of cash and cash equivalents was CNY 2,688,421,113.23, down from CNY 4,274,265,454.06 at the end of Q1 2022 [53]. - The company's cash and cash equivalents decreased to ¥3,420,188,280.55 from ¥4,585,177,321.05 as of December 31, 2022, reflecting a decline of approximately 25.4% [30]. Operational Efficiency - The company aims to enhance operational efficiency and improve cash flow management in response to current market challenges [16]. - The weighted average return on net assets decreased by 2.71 percentage points to 0.60% [12]. - The company reported a decrease in cash received from sales of goods and services, totaling CNY 15,505,554,689.79, compared to CNY 19,134,147,346.03 in the previous year [51]. - The company's cash outflow for employee compensation increased to CNY 1,127,197,329.29 from CNY 955,141,269.85 year-over-year [51]. Shareholder Information - As of March 31, 2023, the total number of common shareholders was 69,209, with the largest shareholder, China National Chemical Corporation, holding 1,948,551,478 shares, representing 54.25% of total shares [27]. Research and Development - Research and development expenses increased to $246.71 million in Q1 2023, compared to $228.78 million in Q1 2022, reflecting a growth of 7.9% [42]. - The company has not disclosed any new product developments or technological advancements in the provided content [32]. Market Activity - There are no mentions of market expansion or mergers and acquisitions in the extracted data [32].