DHCT(SH:600844)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥233,516,090.43, representing a decrease of 10.96% compared to the same period last year[3] - The net profit attributable to shareholders was a loss of ¥40,813,164.81, with a diluted earnings per share of -¥0.0401[3] - The net profit for Q1 2023 was -52,906,234.33 RMB, compared to -1,859,862.38 RMB in Q1 2022, indicating a significant decline in profitability[16] - Operating profit for Q1 2023 was -52,325,640.35 RMB, compared to -1,535,196.25 RMB in the same period last year, reflecting a worsening operational performance[16] - Total comprehensive income for Q1 2023 was -52,807,403.69 RMB, compared to -3,579,602.83 RMB in Q1 2022, highlighting a substantial increase in losses[16] - The total operating costs increased to RMB 287,587,246.59, up 8.61% from RMB 264,925,079.42 in the same period last year[14] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 182.46%, amounting to -¥14,034,962.86[3] - Cash flow from operating activities showed a net outflow of -14,034,962.86 RMB in Q1 2023, down from a net inflow of 17,021,090.88 RMB in Q1 2022[18] - The company reported cash and cash equivalents of 78,610,352.44 RMB at the end of Q1 2023, down from 136,630,616.39 RMB at the end of Q1 2022[19] - The cash and cash equivalents increased to RMB 81,862,352.44 from RMB 47,905,810.82 as of December 31, 2022, showing a significant improvement in liquidity[11] - Cash inflow from financing activities in Q1 2023 was 95,000,000.00 RMB, an increase from 89,000,000.00 RMB in Q1 2022[19] - The company incurred a total operating cash outflow of 327,079,369.70 RMB in Q1 2023, compared to 340,235,194.30 RMB in Q1 2022[18] - The net cash flow from investing activities was 380,251.81 RMB in Q1 2023, a recovery from a net outflow of -756,568.12 RMB in Q1 2022[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,885,970,224.07, an increase of 1.28% from the end of the previous year[4] - The company’s total assets as of March 31, 2023, were RMB 1,885,970,224.07, a slight increase from RMB 1,862,152,489.16 at the end of 2022[14] - Total liabilities increased to RMB 655,373,834.13 from RMB 578,748,695.53 at the end of 2022, reflecting higher short-term borrowings[13] - Shareholders' equity attributable to the parent company decreased by 4.36%, totaling ¥893,070,991.49[4] Operational Performance - The company produced 34,100 tons of ethylene glycol and 27,400 tons of oxalic acid in Q1 2023, but faced operational losses due to rising raw material costs[10] - The company plans to focus on improving operational efficiency and managing costs in response to the current market challenges[10] - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[5] - The company has not reported any significant new product launches or technological advancements during this quarter[5] Accounts Receivable and Inventory - Accounts receivable increased by 38.91%, attributed to an increase in sales on credit[5] - Accounts receivable rose to RMB 23,395,129.01, up 39.06% from RMB 16,842,172.46 at the end of 2022[11] - Inventory levels increased to RMB 136,516,533.72, compared to RMB 124,086,159.24 at the end of 2022, indicating a buildup of stock[12] Investment Income and Expenses - The company reported a 192.62% increase in investment income, mainly from increased dividend income[5] - The company recorded a tax expense of 532,008.87 RMB in Q1 2023, compared to 307,331.19 RMB in Q1 2022, indicating an increase in tax obligations despite losses[16]