SPC(SH:600688)2023-04-26 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 21,978,009, a decrease of 15.49% compared to CNY 26,006,070 in the same period last year[5]. - The net profit attributable to shareholders of the listed company was a loss of CNY 163,142, representing a decline of 176.27% from a profit of CNY 213,510 in the previous year[5]. - The basic and diluted earnings per share were both negative CNY 0.015, compared to positive CNY 0.020 in the previous year[5]. - Net profit for Q1 2023 was -162,346 thousand RMB, compared to a net profit of 215,222 thousand RMB in Q1 2022, indicating a significant decline[19]. - Operating profit for Q1 2023 was -161,125 thousand RMB, down from 311,893 thousand RMB in the same period last year[18]. - The company reported a total comprehensive income of -162,346 thousand RMB for Q1 2023, compared to 421,018 thousand RMB in Q1 2022[19]. - The basic earnings per share for Q1 2023 was -0.015 RMB, compared to 0.020 RMB in Q1 2022, reflecting the decline in profitability[19]. Cash Flow and Assets - The net cash flow from operating activities was a negative CNY 29,479, compared to a negative CNY 1,785,568 in the same period last year[5]. - Cash flow from operating activities showed a net outflow of -29,479 thousand RMB in Q1 2023, compared to -1,785,568 thousand RMB in Q1 2022, indicating improved cash management[20]. - The company's cash and cash equivalents increased to CNY 7,281,505 from CNY 3,998,332 year-over-year[15]. - Cash and cash equivalents at the end of Q1 2023 were 3,953,405 thousand RMB, down from 4,987,376 thousand RMB at the end of Q1 2022[21]. - As of March 31, 2023, the total current assets amounted to CNY 15,764,370, a slight decrease from CNY 15,765,882 as of December 31, 2022[15]. - The total assets at the end of the reporting period were CNY 40,637,918, reflecting a decrease of 1.47% from CNY 41,242,740 at the end of the previous year[6]. - The total assets as of March 31, 2023, were CNY 40,637,918, down from CNY 41,242,782 at the end of 2022[17]. Liabilities and Equity - The total liabilities decreased to CNY 14,411,891 from CNY 14,871,357 compared to the previous year[16]. - The total equity attributable to shareholders was CNY 26,097,552, down from CNY 26,243,746 compared to the previous year[17]. - Short-term borrowings increased significantly to CNY 5,048,000 from CNY 1,550,000 year-over-year[16]. - The total equity as of March 31, 2022, was RMB 26,371,386 thousand, with a minor adjustment of RMB 39 thousand[26]. Operational Insights - The company reported a decrease in sales volume and reduced investment income as key reasons for the decline in net profit attributable to shareholders[10]. - The company received government subsidies amounting to CNY 7,679, which are closely related to its normal business operations[8]. - The company is implementing adjustments in accordance with the new accounting standards effective from January 1, 2023, which may impact financial reporting[7]. - The company reported a direct economic loss of approximately CNY 9.71 million due to a production safety incident[14]. - Research and development expenses increased to 30,776 thousand RMB in Q1 2023, up from 11,867 thousand RMB in Q1 2022, reflecting a focus on innovation[18]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 95,286, with the largest shareholder being Sinopec Limited holding 50.55%[11]. - The company has no known related party relationships among its major shareholders[13].