XACIG(SH:600596)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥3,880,412,782.06, representing a decrease of 40.32% compared to the same period last year [6] - The net profit attributable to shareholders for Q1 2023 was ¥106,197,648.83, down 91.33% year-on-year [6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥45,333,629.57, a decline of 96.26% compared to the previous year [6] - Basic earnings per share for Q1 2023 were ¥0.0927, down 93.81% from the same period last year [6] - Operating revenue decreased by 40.32% due to a significant decline in the selling price of the company's main products [17] - Net profit attributable to shareholders decreased by 91.33%, primarily due to the drop in product prices leading to a lower gross margin [17] - Net profit attributable to shareholders after deducting non-recurring gains and losses fell by 96.26%, driven by reduced operating profit from lower product prices [17] - Basic earnings per share decreased by 93.81% as a result of the decline in net profit for the period [17] - Diluted earnings per share also decreased by 93.81%, reflecting the same reasons as basic earnings [17] - The total comprehensive income for Q1 2023 was 121,176,112.37 CNY, a significant drop from 1,247,265,414.76 CNY in Q1 2022 [32] Cash Flow and Financial Position - The net cash flow from operating activities was -¥409,915,579.35, a decrease of 165.49% year-on-year [6] - The net cash flow from operating activities was -$409.92 million, a significant decrease from $625.92 million in the previous period [35] - Total cash inflow from financing activities was $1.58 billion, compared to $567.69 million in the prior period, indicating a strong increase in financing [35] - The cash and cash equivalents at the end of the period amounted to $3.35 billion, down from $3.38 billion at the beginning of the period [37] - Cash outflow from investing activities was $621.56 million, up from $365.09 million in the previous period, reflecting increased investment expenditures [35] - The net cash flow from investing activities was -$534.43 million, worsening from -$207.46 million in the previous period [35] - The company paid $630.96 million in debt repayments, slightly up from $589.80 million in the previous period [35] - The company absorbed $60 million from minority shareholders, a significant increase from $14.40 million in the previous period [35] - The impact of exchange rate changes on cash and cash equivalents was -$11.25 million, contrasting with a positive impact of $6.45 million in the previous period [35] Assets and Shareholder Equity - Total assets at the end of the reporting period were ¥20,748,566,824.35, an increase of 7.81% compared to the end of the previous year [9] - The equity attributable to shareholders at the end of the reporting period was ¥11,662,944,217.54, up 1.02% from the end of the previous year [9] - Total current assets as of March 31, 2023, amounted to approximately CNY 9.95 billion, an increase from CNY 9.14 billion at the end of 2022 [21] - Total assets increased to approximately CNY 20.75 billion as of March 31, 2023, compared to CNY 19.25 billion at the end of 2022 [24] - Total liabilities and shareholders' equity reached CNY 20.75 billion, up from CNY 19.25 billion year-over-year [26] Expenses and Other Income - Research and development expenses for Q1 2023 were 144,363,388.56 CNY, compared to 158,644,353.52 CNY in Q1 2022, showing a decrease of about 9% [30] - The company’s financial expenses decreased to 2,421,932.75 CNY in Q1 2023 from 23,324,052.83 CNY in Q1 2022, a reduction of approximately 89.6% [30] - Investment income for Q1 2023 was 5,437,411.99 CNY, down from 39,303,356.87 CNY in Q1 2022, indicating a decline of about 86.2% [30] - The company’s tax expenses for Q1 2023 were 41,366,510.56 CNY, compared to 216,958,778.62 CNY in Q1 2022, reflecting a decrease of approximately 81% [30] - Other comprehensive income after tax for Q1 2023 was 5,518,091.01 CNY, compared to -3,069,827.57 CNY in Q1 2022 [30]