CS&S(SH:600536)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,218,348,749.10, representing a decrease of 20.07% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was a loss of CNY 198,828,466.07, with a basic and diluted earnings per share of -0.31 yuan[4]. - Total revenue for Q1 2023 was CNY 1,218,348,749.10, a decrease of 20.0% compared to CNY 1,524,319,395.17 in Q1 2022[18]. - Operating profit for Q1 2023 was -201,962,374.62 RMB, compared to -123,749,970.88 RMB in Q1 2022, indicating a decline in profitability[20]. - Net profit for Q1 2023 was -201,692,562.56 RMB, worsening from -140,296,877.55 RMB in Q1 2022, reflecting a significant increase in losses[20]. - Total comprehensive income for Q1 2023 was -201,803,621.64 RMB, compared to -140,343,218.87 RMB in Q1 2022, reflecting a larger loss in comprehensive income[20]. - Basic earnings per share for Q1 2023 were -0.31 RMB, compared to -0.21 RMB in Q1 2022, indicating a decline in earnings per share[20]. Cash Flow and Liquidity - The net cash flow from operating activities was -CNY 1,174,642,125.49, indicating significant cash outflow during the quarter[4]. - Cash inflow from operating activities totaled 1,457,872,972.46 RMB in Q1 2023, compared to 1,367,116,728.83 RMB in Q1 2022, marking an increase of about 6.6%[22]. - Cash outflow from operating activities was 2,632,515,097.95 RMB in Q1 2023, down from 3,213,881,203.19 RMB in Q1 2022, indicating a reduction in cash outflow[22]. - The net cash flow from financing activities was $246,025,687.70, a decrease from $642,572,239.50 in the previous year[23]. - The total cash outflow from financing activities amounted to $104,671,514.28, compared to $362,180,691.71 in the same period last year[23]. - The net increase in cash and cash equivalents was -$953,465,351.57, an improvement from -$1,291,281,728.38 year-over-year[23]. - The ending balance of cash and cash equivalents was $1,359,437,064.38, down from $1,943,646,896.63 in the previous year[23]. - The beginning balance of cash and cash equivalents was $2,312,902,415.95, compared to $3,234,928,625.01 last year[23]. - The impact of exchange rate changes on cash and cash equivalents was -$92,549.23, compared to -$38,617.77 in the previous year[23]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,617,811,566.20, down 6.40% from the end of the previous year[5]. - Current assets decreased to CNY 6,774,987,136.89 from CNY 7,397,523,212.75, representing a decline of 8.4% year-over-year[16]. - Total liabilities decreased to CNY 6,240,629,861.13 from CNY 6,715,239,195.87, a reduction of 7.0%[17]. - Shareholders' equity decreased to CNY 3,377,181,705.07 from CNY 3,560,111,655.87, a decrease of 5.1%[17]. - The equity attributable to shareholders of the listed company decreased by 7.22% to CNY 2,312,106,908.42 compared to the end of the previous year[5]. - Accounts receivable decreased to CNY 2,354,005,250.29, a decline of 6.6% from CNY 2,521,534,932.55[16]. - Cash and cash equivalents dropped to CNY 1,411,166,987.52, down 40.3% from CNY 2,364,632,339.10[16]. - The company experienced a 40.32% decrease in cash and cash equivalents, primarily due to significant project payments made during the period[7]. Investments and Strategic Initiatives - The company plans to focus on major project investments despite a decrease in overall business volume[9]. - The company established a joint venture, China Logistics Group Digital Technology Co., with a registered capital of RMB 500 million, where the company contributed RMB 180 million for a 36% stake[13]. - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[18]. Stock and Shareholder Information - The company adjusted the repurchase price for its 2021 restricted stock incentive plan to RMB 20.07 per share, with a total of 193,700 shares to be repurchased and canceled[14]. - The company granted 132,000 shares of reserved restricted stock to 5 eligible participants at a price of RMB 37.52 per share[14]. - The company completed the registration of 1,764,000 shares of reserved restricted stock granted to 62 participants[14]. - The company reported that the number of shares lent for securities lending does not exceed 2% of the total share capital[12]. Other Financial Metrics - The company reported a 35.77% decrease in non-operating income, mainly due to fewer government subsidies received compared to the previous period[9]. - Research and development expenses for Q1 2023 were 440,105,250.39 RMB, slightly down from 446,430,898.82 RMB in Q1 2022, showing a decrease of about 1.4%[19]. - Total operating costs for Q1 2023 were 1,568,480,753.32 RMB, down from 1,721,637,618.11 RMB in Q1 2022, representing a decrease of approximately 8.9%[19]. - Accounts receivable financing increased by 131.67%, attributed to a higher use of bank acceptance bills for settlements[7].