Guizhou Gas(SH:600903)2023-04-20 16:00Financial Performance - The company's operating revenue for the first quarter of 2023 was CNY 1,912,561,357.51, representing a year-on-year increase of 6.23%[10] - The net profit attributable to shareholders of the listed company was CNY 87,378,386.22, with a non-applicable year-on-year comparison[10] - Net profit for Q1 2023 was CNY 114,666,121.94, a significant recovery from a net loss of CNY 68,955,026.13 in Q1 2022[32] - Earnings per share for Q1 2023 was CNY 0.08, compared to a loss per share of CNY 0.05 in the same period last year[33] - The total comprehensive income for Q1 2023 was CNY 121,273,701.76, compared to a loss of CNY 81,637,623.44 in Q1 2022[33] Cash Flow - The net cash flow from operating activities was CNY 33,921,644.46, attributed to increased cash received from sales compared to the same period last year[3] - Cash flow from operating activities increased to CNY 2,376,789,932.60, up from CNY 1,912,767,012.18 in Q1 2022[33] - Operating cash inflow totaled CNY 2,383,256,371.92, an increase from CNY 1,931,052,636.97 in the previous period[34] - Operating cash outflow amounted to CNY 2,349,334,727.46, compared to CNY 2,016,154,493.03 last year[34] - Net cash flow from operating activities was CNY 33,921,644.46, a significant recovery from a negative CNY 85,101,856.06 in the prior period[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 10,471,106,877.66, reflecting a 1.57% increase from the end of the previous year[12] - The total liabilities amounted to CNY 6,639,548,801.21, slightly up from CNY 6,614,534,181.68 in the previous year[31] - The equity attributable to shareholders of the listed company was CNY 3,045,160,224.07, showing a 3.63% increase from the end of the previous year[12] - The company's cash and cash equivalents decreased to RMB 851,780,325.04 from RMB 968,693,844.77 year-over-year[21] - Accounts receivable stood at RMB 1,092,146,233.63, slightly down from RMB 1,139,426,982.40 in the previous year[21] Investments - Investment income was not applicable, as it was primarily due to increased profits from joint ventures[1] - The company reported an investment income of CNY 17,319,621.42, a turnaround from a loss of CNY 5,013,945.34 in Q1 2022[32] - The company has a long-term investment of RMB 533,499,473.89, which has increased from RMB 523,089,432.51[21] Operational Changes - The company reported a 64.27% increase in prepayments, primarily due to an increase in prepaid gas payments[1] - The company experienced a 76.99% decrease in employee compensation payable, mainly due to salary payments during the reporting period[1] - The company recorded a 72.96% increase in taxes and surcharges, attributed to higher tax payments[1] - The company has implemented various measures to reduce gas procurement costs, leading to improved gas profit margins compared to the previous year[3] Capital and Subsidiaries - The company plans to increase its registered capital in the service company to RMB 1,000,000, with a cash contribution of RMB 500,000[26] - The company has completed the registration of a new subsidiary, Zhi Jin Gas Co., with a registered capital of RMB 50 million, fully owned by the company[27] Inventory and Borrowings - The company's inventory increased to RMB 477,498,188.26 from RMB 377,281,333.14 year-over-year, indicating a growth of approximately 26.6%[21] - Short-term borrowings rose to RMB 3,065,760,965.19 from RMB 2,942,286,910.98, reflecting an increase of about 4.2%[30] - The company's non-current assets totaled RMB 7,734,424,365.52, up from RMB 7,525,700,830.65, marking an increase of approximately 2.8%[30]