EGING PV(SH:600537)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 reached ¥2,117,201,793.32, representing a year-on-year increase of 55.54%[5] - The net profit attributable to shareholders was ¥126,579,033.13, with a basic earnings per share of ¥0.11[5] - Operating profit for Q1 2023 was ¥153,558,223.05, compared to a loss of ¥7,048,108.37 in Q1 2022, indicating a turnaround in profitability[23] - Net profit for Q1 2023 was ¥147,795,549.66, compared to a net loss of ¥13,511,021.98 in Q1 2022, reflecting a substantial improvement[23] - The company reported a total comprehensive income of ¥147,760,240.55 for Q1 2023, compared to a loss of ¥14,818,315.02 in Q1 2022[23] - Earnings per share for Q1 2023 were ¥0.11, compared to a loss per share of ¥0.01 in Q1 2022[23] Cash Flow and Investments - The cash flow from operating activities was ¥146,606,555.23, reflecting an increase in bank acceptance deposits[8] - Cash flow from operating activities for Q1 2023 was ¥146,606,555.23, a recovery from a negative cash flow of ¥352,522,245.41 in Q1 2022[25] - The net cash flow from investment activities was -$25,271,634.66, a decrease of 306,938,724.93 compared to the previous period[26] - Cash inflow from financing activities totaled $382,908,460.00, an increase from $302,983,141.01 in the prior period[26] - The cash and cash equivalents at the end of the period amounted to $740,398,338.42, compared to $497,940,028.23 in the previous period[26] Assets and Liabilities - Total assets decreased by 9.67% from the end of the previous year, amounting to ¥10,657,822,427.38[6] - The company's current assets totaled CNY 7,172,568,726.85, down from CNY 8,254,949,542.67 at the end of 2022, indicating a decrease of about 13.12%[17] - Total liabilities decreased to CNY 7,633,606,071.94 from CNY 8,929,797,106.19, a reduction of about 14.51%[19] - The company's cash and cash equivalents were CNY 3,649,596,018.73, compared to CNY 4,231,604,728.85 at the end of 2022, representing a decline of approximately 13.75%[17] Expenses - Sales expenses surged by 244.14% due to increased sales commissions and personnel costs related to performance growth[8] - The company reported a 40.97% increase in operating costs, primarily driven by higher sales volume of solar components[8] - Research and development expenses for Q1 2023 were ¥37,231,240.23, slightly down from ¥41,843,616.91 in Q1 2022[22] - Sales expenses increased significantly to ¥37,410,601.31 in Q1 2023 from ¥10,870,613.77 in Q1 2022, indicating increased investment in sales efforts[22] Equity - The equity attributable to shareholders increased by 5.38% to ¥2,604,234,600.68[6] - The company’s total equity increased to CNY 3,024,216,355.44 from CNY 2,868,998,133.04, reflecting an increase of approximately 5.43%[19] Government Support and Future Plans - The company received government subsidies amounting to ¥1,653,517.32, which are related to normal business operations[7] - The company plans to continue expanding its market presence and investing in new technologies to enhance growth prospects[8] Other Financial Information - The company is required to pay CNY 4 million to Shandong Jianeng Solar Technology Co., Ltd. as part of a settlement agreement, which is expected to have no significant adverse impact on net profit[14][15] - The company's net loss for the first quarter of 2023 was CNY 184,604,232.03, an improvement from a net loss of CNY 311,183,265.16 in the previous period[19] - The company's inventory as of March 31, 2023, was CNY 1,342,112,511.35, slightly down from CNY 1,379,693,194.44 at the end of 2022, a decrease of about 2.73%[17] - The company reported accounts receivable of CNY 1,326,619,862.48, down from CNY 1,615,578,898.44, indicating a decrease of approximately 18.00%[17] - The company has a long-term investment of CNY 4,635,462.74, which is a slight increase from CNY 4,564,272.30 at the end of 2022[18]