YBTI(SH:600883)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,659,146.09, a decrease of 52.83% compared to the same period last year[3]. - Net profit attributable to shareholders was CNY 27,062,674.25, an increase of 128.83% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was CNY 25,007,907.26, reflecting a year-on-year increase of 14.84%[3]. - Basic earnings per share were CNY 0.1146, up 128.74% compared to the previous year[3]. - Operating profit for Q1 2023 increased to CNY 26,949,753.50, compared to CNY 11,840,842.44 in Q1 2022, representing a growth of 127.5%[31]. - Net profit for Q1 2023 was CNY 26,939,939.46, significantly higher than CNY 11,826,516.78 in Q1 2022, marking an increase of 128.5%[31]. - The total comprehensive income for Q1 2023 was ¥27,164,982.81, up from ¥11,443,235.81 in Q1 2022, indicating a growth of about 137.5%[33]. - Basic and diluted earnings per share for Q1 2023 were both ¥0.1146, compared to ¥0.0501 in Q1 2022, reflecting an increase of approximately 128.5%[33]. Revenue Breakdown - In Q1 2023, the company achieved a total revenue of CNY 1,659,146.09, a decrease of 52.83% year-on-year, while net profit attributable to shareholders increased by 128.83% to CNY 27,062,674.25[11]. - The edible mushroom business reported revenue of CNY 815,468.12, with a gross margin of 5.65%, reflecting a decrease of 14.13 percentage points compared to the previous year[13]. - The ham business, after acquiring a 51% stake in Yunnan Nuo Deng Jin Tui Food Technology Co., reported revenue of CNY 764,684.58, with a gross margin of 40.35%, an increase of 40.35 percentage points year-on-year[13]. Cash Flow - The company reported a net cash flow from operating activities of CNY -11,093,280.93, which is not applicable for year-on-year comparison[3]. - Cash flow from operating activities for Q1 2023 was a net outflow of ¥11,093,280.93, worsening from a net outflow of ¥630,994.60 in Q1 2022[36]. - Total cash outflow from operating activities in Q1 2023 was ¥13,749,032.99, significantly higher than ¥5,814,678.41 in Q1 2022, marking an increase of about 136.5%[36]. - Cash inflow from investment activities for Q1 2023 was ¥30,551,695.82, slightly down from ¥31,432,909.27 in Q1 2022[38]. - The net cash flow from investment activities improved significantly to ¥28,873,159.67 in Q1 2023, compared to a net outflow of ¥10,965,809.27 in Q1 2022[38]. - The net increase in cash and cash equivalents for Q1 2023 was ¥15,759,138.39, contrasting with a net decrease of ¥11,606,666.30 in Q1 2022[38]. - The ending balance of cash and cash equivalents as of the end of Q1 2023 was ¥63,756,333.71, compared to ¥81,227,027.01 at the end of Q1 2022[38]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 899,405,807.80, representing a 2.91% increase from the end of the previous year[3]. - Total assets as of March 31, 2023, amounted to CNY 899,405,807.80, up from CNY 873,950,632.54 at the end of 2022[24]. - Current assets totaled CNY 223,456,800.79 as of March 31, 2023, compared to CNY 231,297,557.23 at the end of 2022, a decrease of 3.6%[24]. - Non-current assets increased to CNY 675,949,007.01 from CNY 642,653,075.31, reflecting a growth of 5.2%[24]. - Total liabilities decreased to CNY 42,665,122.27 from CNY 48,026,766.22, a reduction of 11.3%[26]. - Shareholders' equity increased to CNY 856,740,685.53 from CNY 825,923,866.32, an increase of 3.7%[26]. Investments - The investment income from Xinjiang Zhonghe Co., Ltd. contributed CNY 29,629,545.08 to the company's net profit, marking an increase of 11.90% year-on-year[15]. - The company reported a fair value change gain of CNY 12,603,698.34 from its holdings in Yunnan Baiyao Group Co., Ltd., reflecting a significant increase compared to the previous year[11]. - The company held 673,400 shares of Yunnan Baiyao, generating a fair value change gain of CNY 228,956.00, which is an increase of CNY 11,210,186.00 year-on-year[19]. - The total fair value of financial assets held by the company at the end of the reporting period was CNY 137,337,923.84, after accounting for various investments and changes in value[17]. Business Operations - The decrease in operating revenue was primarily due to the cessation of cement business operations in the second half of last year, leading to a reduction in product variety and sales revenue[6]. - The company plans to establish a wholly-owned subsidiary in Chuxiong, Yunnan Province, with a registered capital of CNY 30 million, to expand its operations[19]. - The company has continued to explore the export sales of frozen delicious beef liver mushrooms, resulting in increased sales revenue in this segment[11].