万里股份(600847) - 2023 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2023 was ¥133,789,228.26, representing a year-on-year increase of 20.47%[3] - The net profit attributable to shareholders was a loss of ¥3,320,803.06, with a net profit margin not applicable due to the loss[3] - The company reported a net loss of CNY -307,940,811.33 for Q1 2023, compared to a net loss of CNY -304,620,008.27 in Q1 2022[18] - The net profit for Q1 2023 was -3,320,803.06 CNY, compared to -11,095,833.61 CNY in Q1 2022, showing an improvement of approximately 70% year-over-year[21] - Operating profit for Q1 2023 was -3,567,619.36 CNY, compared to -10,823,295.61 CNY in the same period last year, indicating a significant reduction in losses[21] - The total comprehensive income for Q1 2023 was -3,320,803.06 CNY, an improvement from -11,095,833.61 CNY in Q1 2022[22] - The basic and diluted earnings per share for Q1 2023 were both -0.07 CNY, consistent with the previous year's performance[22] Cash Flow and Assets - The net cash flow from operating activities was negative at ¥30,521,417.05, reflecting a decrease of 228.07% compared to the previous period[3] - Cash and cash equivalents decreased by 43.90%, primarily due to tax payments and increased inventory[6] - Cash and cash equivalents at the end of Q1 2023 stood at 39,140,379.16 CNY, compared to 29,740,133.78 CNY at the end of Q1 2022, reflecting a year-over-year increase of approximately 32%[25] - Total assets at the end of the reporting period were ¥739,197,101.49, a decrease of 2.63% from the previous year-end[4] - Total assets decreased to CNY 739,197,101.49 as of March 31, 2023, down from CNY 759,175,716.72 at the end of 2022[18] Liabilities and Shareholder Information - Total liabilities decreased to CNY 54,586,134.77, down from CNY 70,754,059.03 at the end of 2022[18] - The total number of ordinary shareholders at the end of the reporting period was 14,499[8] Expenses and Costs - Total operating costs for Q1 2023 were CNY 136,333,861.44, up from CNY 121,925,282.17 in Q1 2022, representing a year-over-year increase of 11.5%[20] - Sales expenses increased by 46.35% as a result of higher sales volume[6] - Research and development expenses in Q1 2023 were 401,791.52 CNY, down from 573,099.72 CNY in Q1 2022, indicating a decrease of approximately 30%[21] - The company incurred financial expenses of -148,830.93 CNY in Q1 2023, compared to 207,554.21 CNY in Q1 2022, showing a significant reduction in financial costs[21] Government Support and Other Financial Matters - The company received government subsidies amounting to ¥512,492.63, which were included in the current period's profit[5] - The company reported a loss compensation receivable from Southern Tongzheng amounting to RMB 191,392,940.94[10] - The company will ensure that the loss compensation receivable is prioritized during the exercise of the pledged shares[12] Strategic Plans and Investments - The company plans to exchange 100% equity of Chongqing Wanli Power Technology Co., Ltd., valued at RMB 68 million, for 48.95% equity of Teri Battery, valued at RMB 115,042.84 million[13] - The company intends to raise up to RMB 15 million through a private placement to fund the acquisition and support Teri Battery's ongoing projects[13] - The company has not yet completed the asset transfer as stipulated in the agreement due to high transaction amounts and market competition[10] - The company has terminated the major asset swap and share issuance plan as of February 20, 2023, indicating a strategic shift in its asset management approach[14] - The company plans to issue shares to purchase the asset difference of RMB 47,042.84 million in the transaction[13] - The company aims to maintain a controlling stake of no less than 51% in Teri Battery post-investment[13] Business Operations and Challenges - The company has not formed a sustainable new business, making the divestment of its original lead-acid battery business detrimental to operational stability[10] - Southern Tongzheng pledged 10,072,158 shares, representing 6.57% of the company's total share capital, to ensure performance obligations under the share transfer agreement[11] - The company confirmed a non-existing business loss of RMB 155,567,888.90 for 2018 and RMB 7,423,581.81 for 2021, with a further loss of RMB 25,042,370.44 for 2022[10]