Fortune(SH:600965)2023-04-14 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥303,766,723.26, representing a decrease of 4.24% compared to the same period last year[3] - Net profit attributable to shareholders of the listed company was ¥58,843,561.32, an increase of 14.72% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥58,603,551.78, reflecting a growth of 16.96%[3] - Basic earnings per share were ¥0.0719, up by 14.86% from the same period last year[3] - Total revenue for Q1 2023 was CNY 303,766,723.26, a decrease of 4.3% compared to CNY 317,203,099.14 in Q1 2022[21] - Net profit for Q1 2023 reached CNY 58,473,124.98, an increase of 14.4% from CNY 51,014,175.11 in Q1 2022[24] - Earnings per share for Q1 2023 were CNY 0.0719, compared to CNY 0.0626 in Q1 2022, reflecting a growth of 4.6%[24] Cash Flow - The net cash flow from operating activities was -¥34,094,930.40, a decline of 177.38% compared to the previous year[3] - In Q1 2023, the net cash flow from operating activities was -34,094,930.40, a decrease from 44,062,570.41 in Q1 2022, indicating a significant decline in operational cash generation[27] - Total cash inflow from operating activities was 294,564,438.78, down from 335,681,248.94 in the same period last year, reflecting a decrease of approximately 12.2%[27] - Cash outflow from operating activities increased to 328,659,369.18, compared to 291,618,678.53 in Q1 2022, marking an increase of about 12.7%[27] - The net cash flow from investing activities was -66,329,747.63, worsening from -10,279,990.19 in Q1 2022, indicating increased investment outflows[28] - Cash inflow from investing activities totaled 100,244,767.13, a significant increase from 655,001.22 in Q1 2022[28] - Cash outflow from investing activities rose to 166,574,514.76, compared to 10,934,991.41 in the previous year, reflecting a substantial increase[28] - The net cash flow from financing activities was -5,126,517.84, compared to -3,868,433.24 in Q1 2022, indicating a decline in financing cash flow[28] - The ending cash and cash equivalents balance decreased to 534,465,656.42 from 1,031,494,230.63 in Q1 2022, a decline of approximately 48%[28] - The total cash and cash equivalents at the beginning of the period were 640,016,852.29, down from 1,001,580,083.65 in the previous year[28] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,531,948,999.97, an increase of 1.79% from the end of the previous year[5] - The company's total assets amounted to CNY 2,531,948,999.97, up from CNY 2,487,402,852.19, indicating an increase of 1.8%[22] - The company's current assets totaled RMB 1.46 billion, slightly up from RMB 1.43 billion at the end of 2022[14] - The company's inventory increased to RMB 648.74 million from RMB 607.71 million, reflecting a growth of approximately 6.5%[14] - Accounts receivable rose to RMB 155.63 million, up from RMB 120.35 million, indicating a growth of approximately 29.3%[14] - The company's total liabilities decreased to RMB 222.51 million from RMB 245.05 million, a reduction of about 9.2%[16] - The company's total liabilities as of the reporting date were CNY 317,352,580.66, a decrease from CNY 331,279,557.86 in the previous period[22] - Total equity increased to CNY 2,214,596,419.31 from CNY 2,156,123,294.33, indicating a growth of 2.7%[22] Investments and Future Plans - The company plans to invest approximately RMB 650 million to expand its beef cattle breeding scale, with RMB 300 million allocated for constructing two cattle farms capable of housing 10,000 cattle each, expected to be completed in 2023[12] - The company also plans to invest around RMB 162 million to expand its ecological agriculture, including the acquisition of 100% equity in Sanhe Xingsheng Agricultural Development Co., Ltd. for RMB 8 million, with RMB 6.8 million being related party transactions[12] - The company aims to cultivate over 30,000 acres of crops, including wheat and corn, as part of its ecological agriculture expansion[13] - The company has successfully acquired land rights for 24,025.92 acres and aims to increase this to over 30,000 acres in 2023[13] - The company is collaborating with experts from the China Animal Husbandry Association to develop a quality breeding center for cattle[12] Research and Development - Research and development expenses for Q1 2023 were CNY 563,281.81, down from CNY 823,441.69 in Q1 2022, a reduction of 31.6%[23] - The company reported a financial income of CNY 2,586,196.92 in Q1 2023, compared to CNY 4,344,325.65 in Q1 2022, a decline of 40.5%[23] - Deferred income increased to CNY 14,262,431.93 from CNY 13,009,649.25, reflecting a growth of 9.6%[22] Non-Recurring Items - The company reported non-recurring gains and losses totaling ¥240,009.54 for the period[8] - The company attributed the increase in net profit primarily to improved performance in the catering industry, particularly from the funeral services and beef cattle breeding sectors[8] - Total operating costs for Q1 2023 were CNY 237,191,413.32, down 8.5% from CNY 259,248,651.85 in Q1 2022[23]