FIRMACO(SH:600967)2023-04-24 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 2,592,985,473.87, representing a decrease of 7.52% compared to the same period last year[6]. - Net profit attributable to shareholders was CNY 213,748,680.26, an increase of 3.75% year-on-year[6]. - Basic and diluted earnings per share were both CNY 0.125, reflecting a year-on-year increase of 3.31%[6]. - The company's net profit for Q1 2023 was ¥212,750,643.91, an increase of 3.9% compared to ¥204,919,120.30 in Q1 2022[21]. - The total comprehensive income attributable to shareholders was ¥213,748,680.26 for Q1 2023, compared to ¥206,019,972.94 in Q1 2022, representing an increase of approximately 3.5%[22]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 487,397,951.79, showing a significant decrease of 120.32% compared to the previous year[6]. - Cash received from operating activities totaled CNY 2.42 billion in Q1 2023, compared to CNY 1.09 billion in Q1 2022, indicating a year-over-year increase of 122.3%[51]. - Cash paid for purchasing goods and services in Q1 2023 was CNY 1.51 billion, a decrease of 51.0% from CNY 3.08 billion in Q1 2022[51]. - The cash and cash equivalents at the end of Q1 2023 were ¥4,372,603,340.78, down from ¥6,168,822,761.61 at the end of Q1 2022, indicating a decrease of approximately 29%[24]. - The company received CNY 390 million from investment recoveries in Q1 2023, down from CNY 550 million in Q1 2022, reflecting a decrease of 29.1%[51]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 23,959,583,167.07, a decrease of 0.73% from the end of the previous year[7]. - Total liabilities decreased to ¥12,751,964,013.31 from ¥13,146,537,116.12, a reduction of about 3%[19]. - Current liabilities decreased to ¥12,129,885,738.63 from ¥12,547,221,345.29, a reduction of approximately 3.34%[41]. - Accounts payable increased significantly to ¥4,458,906,730.04 from ¥3,383,509,793.05, representing an increase of approximately 31.8%[41]. - Contract liabilities decreased to ¥4,395,322,463.20 from ¥5,403,456,099.09, a decline of about 18.6%[41]. Equity and Return Metrics - Shareholders' equity attributable to the parent company increased to CNY 11,161,779,244.33, up by 2.00% from the previous year[7]. - The weighted average return on equity was 1.93%, a decrease of 0.04 percentage points year-on-year[6]. - The total equity attributable to shareholders increased to ¥11,161,779,244.33 from ¥10,942,490,494.42, marking a rise of about 2%[19]. Operational Efficiency - Total operating costs for Q1 2023 were approximately CNY 2.36 billion, down from CNY 2.57 billion in Q1 2022, reflecting a reduction of 8.3%[51]. - Research and development expenses for Q1 2023 were CNY 49.45 million, slightly up from CNY 45.12 million in Q1 2022, representing an increase of 7.7%[51]. - The company reported a net profit from investments of CNY 12.89 million in Q1 2023, compared to CNY 10.20 million in Q1 2022[51]. Taxation - The company reported a 665.11% increase in taxes and surcharges, attributed to higher VAT from military contracts[9]. - Tax expenses for Q1 2023 were CNY 3.78 million, significantly higher than CNY 493,603.19 in Q1 2022, marking an increase of 664.5%[51]. Future Outlook - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[9].