TYGF(SH:600506)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 684,119,457.68, representing a year-on-year increase of 1.84%[3] - Total revenue for Q1 2023 was CNY 684,119,457.68, a slight increase of 1.1% compared to CNY 671,748,907.35 in Q1 2022[15] - Operating profit for Q1 2023 was CNY 5,385,116.52, recovering from a loss of CNY 5,889,198.79 in Q1 2022[16] - Net profit for Q1 2023 was CNY 232,903.01, compared to a net loss of CNY 8,146,898.63 in Q1 2022[16] Cash Flow - The net cash flow from operating activities increased significantly by 992.08% to CNY 63,777,622.57[3] - Cash flow from operating activities in Q1 2023 was CNY 617,906,763.82, down from CNY 722,769,137.97 in Q1 2022[17] - Total cash outflow from operating activities amounted to $554,129,141.25, down from $716,929,124.68 year-over-year[18] - The net cash flow from investing activities was $16,834,393.22, recovering from a negative $35,263,849.58 in the same quarter last year[18] - Cash inflow from financing activities was $43,885,482.07, compared to $58,938,333.33 in Q1 2022[18] - The total cash outflow from financing activities increased to $369,708,799.99 from $50,394,419.43 year-over-year[18] - The net increase in cash and cash equivalents for the quarter was a decrease of $245,211,460.01, compared to a decrease of $20,916,784.89 in Q1 2022[18] - The ending balance of cash and cash equivalents was $288,038,280.75, up from $249,422,274.74 in the previous year[18] Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 2,374,098,387.94, down 5.46% from the end of the previous year[4] - Total assets as of March 31, 2023, were CNY 2,374,098,387.94, a decrease from CNY 2,511,200,175.49 at the end of 2022[13] - Total liabilities decreased to CNY 1,923,354,990.75 from CNY 2,060,689,681.31 at the end of 2022[13] - Current assets totaled CNY 941,107,117.75, down from CNY 1,065,678,892.31 at the end of 2022[12] Impairment Losses - The company reported a 77.12% increase in asset impairment losses, primarily due to the recognition of goodwill impairment losses in Q1 2023[6] - The company experienced a 1,115.64% increase in credit impairment losses, attributed to the recovery of previously impaired receivables[6] Shareholder Information - The top two shareholders hold a combined 41.45% of the company's shares, with Shenzhen Jianxin Investment Development Co., Ltd. owning 23.08%[9] Research and Development - Research and development expenses for Q1 2023 were CNY 4,638,205.87, down from CNY 5,805,379.59 in Q1 2022[15] Government Subsidies and Payments - The company received government subsidies amounting to CNY 355,571.42, related to tax and social insurance[5] - Payments to employees and for employee benefits totaled $62,657,393.89, down from $69,625,618.55 in Q1 2022[18] - Tax payments increased to $29,783,522.36 from $21,121,405.44 year-over-year[18] Accounts Receivable and Cash Equivalents - Accounts receivable increased by 88.04%, reflecting higher revenue compared to the previous quarter[7] - Cash and cash equivalents decreased by 45.98%, mainly due to debt repayment[7] - The company’s cash and cash equivalents were CNY 288,038,280.75, significantly lower than CNY 533,249,740.76 at the end of 2022[12] - Cash inflow from investment recoveries was $17,010,540.00, down from $46,102,054.59 in the previous year[18]