岳阳林纸(600963) - 2023 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2023 was CNY 2,522,471,506.14, representing a year-on-year increase of 51.11%[5] - The net profit attributable to shareholders decreased by 29.57% to CNY 87,491,757.29 compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 44.37% to CNY 62,834,478.56[5] - The net cash flow from operating activities decreased by 35.04% to CNY 14,309,633.40[5] - Total operating revenue for Q1 2023 reached ¥2,522,471,506.14, a significant increase of 50.9% compared to ¥1,669,314,407.51 in Q1 2022[18] - Net profit for Q1 2023 was ¥88,030,582.19, a decrease of 29.7% from ¥125,135,849.51 in Q1 2022[19] - Earnings per share for Q1 2023 were ¥0.05, down from ¥0.07 in Q1 2022[19] Assets and Liabilities - The total assets at the end of the reporting period were CNY 17,028,582,402.37, an increase of 2.45% from the end of the previous year[6] - Current assets totaled RMB 10,773,893,706.80, compared to RMB 10,457,502,517.44 at the end of 2022, indicating an increase of about 3.02%[14] - The company reported a total asset of RMB 17,028,582,402.37 as of March 31, 2023, an increase from RMB 16,620,717,977.39 at the end of 2022, reflecting a growth of approximately 2.46%[13] - The total liabilities of the company increased, with current liabilities including accounts payable at RMB 1,627,601,186.23, slightly up from RMB 1,609,347,648.41[14] - The total liabilities as of Q1 2023 were ¥7,693,318,888.27, compared to ¥7,379,761,650.43 in the previous year, reflecting an increase of 4.2%[18] Cash Flow - The net cash flow from operating activities for Q1 2023 was 14,309,633.40, a decrease from 22,027,375.92 in Q1 2022[21] - Total cash inflow from operating activities amounted to 2,466,176,654.94, compared to 1,797,632,742.89 in the previous year, reflecting a year-over-year increase of approximately 37.2%[21] - Cash outflow from operating activities was 2,451,867,021.54, up from 1,775,605,366.97, indicating a rise of about 38%[21] - The net cash flow from investing activities was -154,553,385.84, worsening from -79,568,888.33 in the same quarter last year[21] - Cash inflow from financing activities totaled 1,132,730,761.87, slightly down from 1,155,424,913.55 in Q1 2022[22] - The net cash flow from financing activities was -166,423,820.35, compared to -45,897,925.68 in the previous year, indicating a significant decline[22] - The ending balance of cash and cash equivalents was 316,622,450.28, down from 647,305,064.81 at the end of Q1 2022[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 62,207[9] - The largest shareholder, Tiger Lin Paper Group Co., Ltd., held 16.54% of the shares, totaling 298,424,101 shares[9] Operational Efficiency and Investments - The company is investing in a comprehensive technical upgrade project with an annual production capacity of 450,000 tons of cultural paper, aimed at creating a green and intelligent manufacturing base[12] - The company is focused on enhancing its operational efficiency and expanding its market presence through strategic investments and upgrades[12] Costs and Expenses - Total operating costs for Q1 2023 were ¥2,477,323,261.99, up 58.3% from ¥1,564,200,823.75 in Q1 2022[18] - Research and development expenses for Q1 2023 amounted to ¥88,796,956.97, a rise of 70.3% from ¥52,195,965.16 in Q1 2022[18] Asset Management - The company reported a decrease in asset impairment losses to ¥5,243,629.62 in Q1 2023 from ¥15,867,529.81 in Q1 2022, indicating improved asset management[18] Other Financial Metrics - The weighted average return on equity was 0.95%, a decrease of 0.46 percentage points[5] - The company's cash and cash equivalents decreased to RMB 546,189,884.44 from RMB 918,271,405.99, representing a decline of approximately 40.5%[13] - Accounts receivable stood at RMB 628,257,755.66, down from RMB 746,576,091.22, showing a decrease of around 15.8%[13] - Inventory increased to RMB 5,747,231,242.91 from RMB 5,226,118,096.05, marking an increase of approximately 10%[14] - Short-term borrowings rose to RMB 2,220,790,000.00 from RMB 1,962,572,875.46, reflecting an increase of about 13.1%[14] - Long-term borrowings increased to ¥2,379,336,916.24 in Q1 2023, compared to ¥2,161,045,339.37 in Q1 2022, representing an increase of 10.1%[18] Exchange Rate Impact - The company experienced a negative impact of -809,136.73 from exchange rate fluctuations on cash and cash equivalents[22]