HWASU(SH:600935)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,280,402,666.41, a decrease of 26.95% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 3,494,869.79, down 98.50% year-on-year[5] - Basic earnings per share were CNY 0.0010, reflecting a decrease of 98.50% year-on-year[5] - Total operating revenue for Q1 2023 was CNY 1,280,402,666.41, a decrease of 27% compared to CNY 1,752,734,612.95 in Q1 2022[30] - Net profit for Q1 2023 was CNY 3,494,869.79, a significant decline from CNY 233,235,589.31 in Q1 2022, representing a decrease of approximately 98.5%[32] - Basic earnings per share for Q1 2023 was CNY 0.0010, compared to CNY 0.0665 in Q1 2022, reflecting a substantial drop[32] Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 402,946,874.53, a decline of 363.14% compared to the previous year[5] - Cash flow from operating activities in Q1 2023 was negative at CNY -402,946,874.53, compared to a positive CNY 153,129,728.61 in Q1 2022[39] - Total cash inflow from operating activities was CNY 1,035,881,316.81 in Q1 2023, down from CNY 1,188,943,521.22 in Q1 2022[39] - Total cash outflow from operating activities was CNY 1,438,828,191.34 in Q1 2023, compared to CNY 1,035,813,792.61 in Q1 2022, showing increased expenditure[39] - Cash and cash equivalents decreased to RMB 337,583,941.73 from RMB 770,412,547.83, reflecting a significant decline of approximately 56.2%[23] - Cash and cash equivalents at the beginning of the period were 646,359,277.97[41] - Cash and cash equivalents at the end of the period were 213,964,490.68[41] - The net decrease in cash and cash equivalents was -432,394,787.29[41] - Total cash outflow from financing activities amounted to 747,777,407.20[41] - Cash paid for debt repayment was 738,250,666.71[41] - Cash paid for dividends and interest was 9,526,740.49[41] Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,767,763,065.72, down 2.12% from the end of the previous year[8] - Current liabilities totaled RMB 1,836,429,525.69, down from RMB 2,037,580,708.73, indicating a reduction of about 9.87%[21] - The total liabilities decreased to RMB 2,274,980,250.49 from RMB 2,477,974,162.37, a reduction of about 8.2%[22] - Long-term assets totaled RMB 7,631,159,023.84, down from RMB 7,760,011,979.78, indicating a decrease of about 1.66%[21] - The equity attributable to shareholders increased to RMB 6,492,782,815.23 from RMB 6,479,272,759.57, reflecting a slight increase of approximately 0.21%[22] Shareholder Information - The company reported a total of 68,295 common shareholders at the end of the reporting period[14] - The largest shareholder, Huai Bei Mining Group, held 1,652,700,588 shares, representing 47.12% of the total shares[14] Operational Insights - The company experienced a significant decline in net profit primarily due to a decrease in the sales price of major products[10] - The company did not report any new product developments or market expansion strategies during this quarter[10] - Research and development expenses increased to CNY 30,048,764.84 in Q1 2023, up from CNY 25,657,633.44 in Q1 2022, indicating a focus on innovation[30] - The company reported a decrease in tax expenses to CNY 44,698,874.87 in Q1 2023 from CNY 48,553,444.25 in Q1 2022[30] - The company experienced a credit impairment loss of CNY -704,245.18 in Q1 2023, an improvement from CNY -1,552,377.64 in Q1 2022[32] Accounting and Standards - The company did not apply new accounting standards for the current year[41] - The impact of exchange rate changes on cash and cash equivalents was not specified[41] - The company reported a significant decrease in cash reserves compared to the previous period[41]