ZTT(SH:600522)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 8,275,054,175.86, representing a decrease of 10.92% compared to the same period last year [4] - The net profit attributable to shareholders was CNY 768,141,942.02, down 24.36% year-on-year [4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 534,733,520.45, a decline of 45.38% [4] - Basic and diluted earnings per share were both CNY 0.225, down 25.48% from the previous year [4] - The weighted average return on equity decreased by 1.17 percentage points to 2.51% [4] - Total operating revenue for Q1 2023 was CNY 8,275,054,175.86, a decrease of 10.9% compared to CNY 9,289,537,821.56 in Q1 2022 [19] - Net profit for Q1 2023 was CNY 794,262,386.37, a decline of 25.1% from CNY 1,060,331,628.44 in Q1 2022 [20] - The company's earnings per share (EPS) for Q1 2023 was CNY 0.2251, compared to CNY 0.302 in Q1 2022 [21] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -521,361,218.55 [4] - In Q1 2023, Jiangsu Zhongtian Technology Co., Ltd. reported cash inflows from operating activities of CNY 7,853,851,482.58, a slight increase from CNY 7,802,408,242.13 in Q1 2022 [24] - The net cash flow from operating activities improved significantly to -CNY 521,361,218.55 in Q1 2023, compared to -CNY 2,259,399,152.07 in Q1 2022, indicating a reduction in cash outflow [24] - Cash outflows for purchasing goods and services decreased to CNY 7,072,687,996.31 in Q1 2023 from CNY 8,781,125,615.36 in Q1 2022, reflecting better cost management [24] - The ending cash and cash equivalents balance was CNY 11,121,671,907.97 in Q1 2023, up from CNY 8,457,840,034.69 in Q1 2022, showing improved liquidity [26] - The company received CNY 90,371,109.67 in tax refunds in Q1 2023, an increase from CNY 66,638,450.95 in Q1 2022, contributing positively to cash flow [24] - Total cash outflows related to operating activities were CNY 8,375,212,701.13 in Q1 2023, down from CNY 10,061,807,394.20 in Q1 2022, indicating improved operational efficiency [24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 49,560,268,326.91, an increase of 1.83% from the end of the previous year [4] - Shareholder equity attributable to the parent company was CNY 31,137,939,707.73, up 3.80% from the previous year [4] - The total liabilities as of the end of Q1 2023 were CNY 17,084,173,059.11, slightly down from CNY 17,367,696,539.25 at the end of Q1 2022 [20] - The total current liabilities decreased to RMB 15.40 billion from RMB 16.27 billion, a reduction of about 5.36% [16] Investment and Expenses - Research and development expenses for Q1 2023 were CNY 338,107,805.67, up from CNY 302,050,532.99 in Q1 2022, indicating a focus on innovation [20] - The company reported investment income of CNY 32,789,918.98 in Q1 2023, down from CNY 41,458,419.23 in Q1 2022 [20] - The company experienced a 36.08% increase in sales expenses due to higher market development costs [7] - The company reported a significant increase in prepayments to RMB 1.07 billion from RMB 754.99 million, indicating a growth of approximately 41.47% [15] Strategic Developments - The company terminated the plan for the spin-off listing of its subsidiary, which is not expected to adversely affect its overall strategic planning [12] - The company reported a stable development in its marine industry-related business, driven by the demand for green energy installations under carbon neutrality initiatives [12] - The company plans to further promote its industrial layout in the marine cable sector to support the construction of offshore wind power and marine energy exploration [12] Inventory and Receivables - The company's cash and cash equivalents decreased to RMB 12.61 billion from RMB 13.70 billion, representing a decline of about 7.94% [15] - Accounts receivable increased significantly to RMB 12.58 billion, up from RMB 10.69 billion, indicating a growth of approximately 17.73% [15] - The company's inventory decreased to RMB 5.13 billion from RMB 5.44 billion, reflecting a decline of about 5.73% [15] - Long-term equity investments increased to RMB 1.29 billion from RMB 1.27 billion, showing a growth of approximately 0.37% [15]