SNAT(SH:600841)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥2,011,023,519.64, representing a decrease of 50.49% compared to the same period last year[4]. - The net profit attributable to shareholders was -¥479,680,503.52, a significant decline of 2,964.63% year-on-year[4]. - The company reported a net loss of RMB 1,331,989,137.66 for Q1 2023, compared to a loss of RMB 852,308,634.14 in Q1 2022[14]. - In Q1 2023, the company reported a net profit of -479,680,503.52 RMB, compared to a net profit of 16,744,914.36 RMB in Q1 2022, indicating a significant decline[16]. - Operating profit for Q1 2023 was RMB 29,646,062.51, down 51.6% from RMB 61,233,132.63 in Q1 2022[23]. - Net profit for Q1 2023 was RMB 30,386,713.05, a decrease of 53.6% compared to RMB 65,308,321.22 in Q1 2022[23]. - The company reported a total comprehensive loss of -470,692,015.52 RMB in Q1 2023, compared to a comprehensive income of 10,265,767.62 RMB in Q1 2022[17]. Cash Flow - The net cash flow from operating activities was -¥1,025,133,954.89, indicating a negative cash flow situation[4]. - The company experienced a net cash outflow from operating activities of -1,025,133,954.89 RMB in Q1 2023, an improvement from -2,584,689,696.11 RMB in Q1 2022[19]. - The net cash flow from operating activities was -CNY 643,607,287.63, worsening from -CNY 472,485,165.48 in the same period last year[25]. - The cash and cash equivalents at the end of Q1 2023 were CNY 3,679,003,267.21, compared to CNY 3,022,643,442.97 at the end of Q1 2022, reflecting a year-over-year increase of 21.7%[26]. - Investment activities resulted in a net cash outflow of -79,893,555.08 RMB in Q1 2023, compared to -16,620,610.51 RMB in Q1 2022, indicating increased investment expenditures[19]. Assets and Liabilities - The total assets at the end of the reporting period were ¥21,595,992,884.87, down 2.27% from the end of the previous year[4]. - Total assets decreased to RMB 21,595,992,884.87 from RMB 22,096,890,382.75 at the end of 2022, a decline of 2.3%[13]. - Total liabilities decreased slightly to RMB 14,114,179,594.30 from RMB 14,144,545,563.42 at the end of 2022[14]. - Long-term borrowings increased to RMB 2,437,700,000.00 from RMB 1,761,800,000.00, reflecting a growth of 38.3%[14]. - The company’s total equity decreased to RMB 7,481,813,290.57 from RMB 7,952,344,819.33 at the end of 2022, a decline of 5.9%[14]. Revenue and Costs - Total operating revenue for Q1 2023 was RMB 2,011,023,519.64, a decrease of 50.5% compared to RMB 4,061,771,578.45 in Q1 2022[15]. - Total operating costs for Q1 2023 were RMB 2,411,964,635.81, down from RMB 4,125,047,671.03 in Q1 2022, reflecting a reduction of 41.5%[15]. - The company’s total operating expenses decreased to 2,932,412,307.53 RMB in Q1 2023 from 4,227,022,602.74 RMB in Q1 2022, a reduction of approximately 30.5%[19]. Investments and Research - Research and development expenses for Q1 2023 were 108,839,979.71 RMB, slightly down from 109,643,302.32 RMB in Q1 2022, showing a decrease of about 0.7%[16]. - Research and development expenses increased to RMB 73,854,525.66, up 18.5% from RMB 62,368,340.15 in Q1 2022[23]. Guarantees and Industry Outlook - The company provided guarantees for debt acquisition or leasing for dealers and end customers, with a total guarantee amount not exceeding CNY 819,183,600.00 for 2023[27]. - The heavy truck industry showed signs of recovery in demand year-on-year, although the industry chain still faces significant pressure[27].