SJFW(SH:600616)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 109,710,253.48, representing a decrease of 32.88% compared to the same period last year[4]. - The net profit attributable to shareholders was CNY 133,000,356.62, showing a significant increase of 3,748.20% year-on-year[4]. - The company's basic earnings per share were CNY 0.20, reflecting a substantial increase of 3,748.20%[4]. - In Q1 2023, the company's total sales revenue was CNY 106.51 million, a decrease of 33.49% compared to CNY 160.14 million in Q1 2022[17]. - The net profit attributable to shareholders for Q1 2023 was CNY 109.71 million, down from CNY 163.44 million in Q1 2022[23]. - Net profit for Q1 2023 reached CNY 131,857,125.09, significantly higher than CNY 2,929,336.27 in Q1 2022, marking an increase of approximately 4,392.5%[25]. - The company reported a total comprehensive income of CNY 131,857,125.09 for Q1 2023, compared to CNY 2,929,355.68 in Q1 2022, indicating a significant improvement[26]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -48,127,332.66, indicating a challenging cash flow situation[4]. - Cash flow from operating activities showed a net outflow of CNY 48,127,332.66 in Q1 2023, compared to a smaller outflow of CNY 4,505,736.20 in Q1 2022[29]. - Cash and cash equivalents at the end of Q1 2023 totaled CNY 246,672,269.93, down from CNY 262,233,416.04 at the end of Q1 2022, a decrease of about 5.9%[31]. - The company's cash and cash equivalents increased to CNY 523.54 million from CNY 370.91 million at the end of 2022, reflecting a growth of 41.0%[19]. - Accounts receivable decreased to CNY 63.08 million from CNY 98.55 million, a decline of 36.0%[19]. - The total assets at the end of the reporting period were CNY 2,334,368,587.10, an increase of 3.28% from the previous year[4]. - The total assets of the company as of March 31, 2023, were CNY 2.33 billion, an increase from CNY 2.26 billion at the end of 2022[20]. - The company's total liabilities decreased to CNY 308.19 million from CNY 365.87 million, a reduction of 15.8%[21]. Market and Sales Performance - The company reported a decrease in sales due to slow market recovery and lower consumer spending, particularly in the yellow wine segment[15]. - The mid-to-high-end product sales dropped by 40.28% to CNY 81.24 million, while low-end product sales increased by 4.87% to CNY 25.26 million[17]. - The company reported a decrease in sales revenue across all regions, with Shanghai experiencing a 43.11% decline[17]. - The company added 33 new distributors and had 79 distributors exit, resulting in a total of 786 distributors by the end of the reporting period, a decrease of 46 from the end of 2022[18]. - The company plans to focus on expanding its product lines and enhancing its market presence in the coming quarters[18]. Expenses and Investments - Research and development expenses increased by 37.59%, indicating a focus on innovation and product development[8]. - The company’s long-term borrowings increased by 244.44%, with an addition of CNY 22 million in new loans[8]. - Total operating costs amounted to CNY 129,501,328.15, down from CNY 163,122,969.78 in the previous year, indicating a reduction of about 20.6%[25]. - Investment activities resulted in a net cash outflow of CNY 17,498,027.01 in Q1 2023, slightly better than the outflow of CNY 17,523,231.07 in Q1 2022[29]. - Financing activities led to a net cash outflow of CNY 2,216,125.41 in Q1 2023, compared to an outflow of CNY 1,947,082.92 in Q1 2022[31].