SZEW(SH:600548)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,903,638,574.41, representing a year-on-year increase of 7.38% compared to CNY 1,772,728,100.22 in the same period last year[4]. - Net profit attributable to shareholders was CNY 442,550,909.53, an increase of 7.13% from CNY 412,718,223.34 in the previous year[4]. - The total comprehensive income for Q1 2023 was ¥708,832,729.06, compared to ¥492,019,184.13 in Q1 2022, indicating a substantial increase[24]. - Basic earnings per share for Q1 2023 were ¥0.182, up from ¥0.168 in Q1 2022, marking an 8.33% increase[24]. - Operating profit increased to ¥592,266,796.17, compared to ¥527,125,105.96 in the same period last year, reflecting a growth of 12.37%[23]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 65.92%, reaching CNY 1,013,802,070.16, primarily due to increased toll revenue and receipt of electricity subsidies from previous years[7]. - Cash flow from operating activities for Q1 2023 was ¥1,013,802,070.16, significantly higher than ¥611,009,879.13 in Q1 2022[25]. - The company's cash and cash equivalents increased to CNY 3.93 billion from CNY 3.64 billion, reflecting a growth of approximately 7.93%[20]. - The company’s cash and cash equivalents at the end of Q1 2023 stood at ¥3,538,404,110.36, down from ¥5,771,494,381.63 at the end of Q1 2022[26]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 68,934,852,011.45, a decrease of 0.39% from CNY 69,201,468,263.76 at the end of the previous year[4]. - The company's total liabilities decreased to CNY 40.92 billion from CNY 41.84 billion, indicating a reduction of about 2.19%[21]. - Total assets increased to approximately ¥69.20 billion, with a slight adjustment to ¥69.20 billion as of January 1, 2023, reflecting a change of ¥3.20 million[27]. - Total liabilities stood at approximately ¥41.84 billion, unchanged from the previous reporting period[29]. Shareholder Information - The total number of shareholders was 18,545, with the top ten shareholders holding significant stakes, including HKSCC Nominees Limited at 33.46%[8]. - The equity attributable to shareholders increased by 2.97%, amounting to CNY 21,980,798,157.07 compared to CNY 21,346,287,718.08 at the end of the previous year[4]. - Shareholders' equity increased from approximately ¥27.36 billion to ¥27.36 billion, with an adjustment of ¥3.20 million[29]. Operational Highlights - The toll revenue saw a month-on-month recovery with a growth of approximately 22.65%, although there was a decrease of about CNY 100 million due to the expiration of the Wu-Huang Expressway's operation in December last year[5]. - The average daily mixed traffic volume for the Meiguan Expressway was 155, with a daily toll revenue of RMB 398,000 for Q1 2023[11]. - The average daily toll revenue for the Guangzhou West Second Ring was RMB 1,217,000 with an average daily mixed traffic volume of 85 for Q1 2023[12]. - The company reported a daily toll revenue of RMB 3,001,000 for the Outer Ring Project with an average daily mixed traffic volume of 284 for Q1 2023[11]. Project Developments - The company is focusing on expanding its toll road projects and enhancing operational efficiency to drive future growth[5]. - The company is involved in the PPP project for the Jihe Expressway expansion, which received approval from the Guangdong Provincial Development and Reform Commission[17]. - The company has entered into investment cooperation agreements for the Jihe Expressway project with Shenzhen Special Zone Construction and Development Transportation Investment Co., Ltd.[17]. - The company is currently assisting in the adjustment of the construction and financing plans for the Jihe Expressway expansion project, which has faced delays due to changes proposed by the Shenzhen government[18]. Investment and Wealth Management - The company reported a pre-tax expected return of CNY 6.13 million from newly initiated wealth management products during the reporting period[18]. - The company has a total of CNY 8.7 billion in wealth management products, all issued by banks, with no overdue principal or returns[18]. - The company has initiated three new bank-issued wealth management transactions during the reporting period, with a total entrusted amount of CNY 870 million[18].