NINGBO FUDA(SH:600724)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 822,588,810.94, representing an increase of 11.75% compared to the same period last year[6]. - The net profit attributable to shareholders decreased by 14.74% to CNY 62,105,512.08[6]. - The basic earnings per share for the period was CNY 0.0430, down by 14.68% year-on-year[6]. - Total operating revenue for Q1 2023 reached ¥822,588,810.94, an increase of 11.7% compared to ¥736,115,280.67 in Q1 2022[25]. - Net profit for Q1 2023 was ¥67,595,277.52, a decrease of 16.4% from ¥80,904,312.13 in Q1 2022[26]. - The total comprehensive income for Q1 2023 was ¥67,595,277.52, down 16.5% from ¥80,904,312.13 in the same period last year[27]. - The basic and diluted earnings per share for Q1 2023 were both ¥0.0430, compared to ¥0.0504 in Q1 2022, reflecting a decline of 14.5%[27]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,535,717,409.81, an increase of 4.60% from the end of the previous year[7]. - Total assets as of March 31, 2023, were ¥4,535,717,409.81, compared to ¥4,336,420,544.53 at the end of 2022, marking an increase of 4.6%[22]. - Total liabilities increased to ¥1,029,159,484.17 as of March 31, 2023, from ¥897,554,491.61 at the end of 2022, reflecting a rise of 14.6%[22]. - The company’s total equity as of March 31, 2023, was ¥3,506,557,925.64, up from ¥3,438,866,052.92 at the end of 2022, representing an increase of 2%[22]. Cash Flow - The company's cash flow from operating activities was negative at CNY -97,580,002.35, indicating a significant cash outflow[6]. - Cash inflows from operating activities in Q1 2023 amounted to ¥876,080,368.08, an increase of 2.9% from ¥852,319,659.13 in Q1 2022[29]. - The net cash flow from operating activities for Q1 2023 was -¥97,580,002.35, worsening from -¥68,847,876.75 in Q1 2022[29]. - Cash inflows from financing activities in Q1 2023 were ¥177,000,000.00, significantly higher than ¥25,500,000.00 in Q1 2022[30]. - The net cash flow from financing activities for Q1 2023 was ¥141,762,093.01, compared to ¥18,065,851.08 in Q1 2022, indicating a substantial increase[30]. Investments and Projects - The investment for the Ningbo Kehuan annual production of 2 million tons cement grinding system relocation project has increased to RMB 353 million, with an expected annual revenue of RMB 881 million and a profit of RMB 20.99 million[15]. - As of March 31, 2023, the investment completed for the cement grinding system relocation project reached RMB 316.18 million, accounting for 89.57% of the total investment[16]. - The Hami Jinyun Energy Technology Co., Ltd. 300,000 tons/year coal tar deep processing project has completed an investment of RMB 99.14 million, exceeding the planned investment of RMB 94 million by 105.47%[18]. - The company plans to purchase 500 tank containers for RMB 60 million to enhance logistics capabilities, with the bidding process currently underway[19]. - The Zhejiang Shafeng Kehuan Building Materials Co., Ltd. 4,500 tons/day clinker production line project has completed multiple preliminary approvals and is progressing towards construction[17]. Accounts Receivable and Inventory - The balance of accounts receivable rose by 31.03% to CNY 468 million, attributed to increased business in cement and fuel oil[8]. - Accounts receivable increased to ¥467,967,342.42 as of March 31, 2023, compared to ¥357,148,357.80 at the end of 2022, representing a growth of 31%[21]. - Inventory as of March 31, 2023, was ¥266,820,926.96, up from ¥216,581,747.19 at the end of 2022, indicating a rise of 23.2%[21]. Research and Development - The company reported a significant increase in research and development expenses, totaling ¥1,117,020.69 for Q1 2023, compared to no expenses reported in Q1 2022[26].