Jointown(SH:600998)2023-04-24 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 42,092,541,357, representing a year-on-year increase of 19.75%[4] - Net profit attributable to shareholders was CNY 561,172,724.88, up 24.06% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 573,181,108.58, reflecting a growth of 20.10% year-on-year[4] - The basic earnings per share for the period was CNY 0.29, an increase of 26.09% from the previous year[5] - Total operating revenue for Q1 2023 reached RMB 42.09 billion, a 19.7% increase from RMB 35.15 billion in Q1 2022[23] - Net profit for Q1 2023 was RMB 598.44 million, up 25.1% from RMB 478.21 million in Q1 2022[24] - Operating profit for Q1 2023 was RMB 729.92 million, representing a 26.2% increase compared to RMB 578.34 million in Q1 2022[24] - The company reported a total comprehensive income of RMB 592.90 million for Q1 2023, compared to RMB 501.73 million in Q1 2022[25] - Basic earnings per share for Q1 2023 were RMB 0.29, an increase from RMB 0.23 in Q1 2022[25] Asset and Liability Management - The total assets at the end of the reporting period amounted to CNY 96,415,023,973.10, a 4.49% increase from the end of the previous year[5] - The total current assets increased to approximately 79.57 billion yuan, up from 75.66 billion yuan in the previous period, reflecting a growth of about 5.3%[20] - The company's total assets reached approximately 96.42 billion yuan, compared to 92.27 billion yuan in the previous period, marking an increase of about 4.6%[22] - Short-term borrowings rose to approximately 12.58 billion yuan, up from 11.49 billion yuan, indicating an increase of about 9.5%[21] - The total liabilities increased to approximately 67.21 billion yuan, compared to 63.59 billion yuan, reflecting a growth of about 5.1%[21] - The company's equity attributable to shareholders reached approximately 25.20 billion yuan, up from 24.64 billion yuan, indicating an increase of about 2.3%[21] Cash Flow Analysis - The company's cash flow from operating activities showed a net outflow of CNY 3,021,589,444.65, a decrease of 14.19% year-on-year[4] - Cash flow from operating activities in Q1 2023 was RMB 34.09 billion, an increase from RMB 29.35 billion in Q1 2022[26] - The net cash flow from operating activities was -3,021,589,444.65 RMB, compared to -2,646,124,039.84 RMB in the previous year, indicating a decline of approximately 14.2%[27] - Total cash outflow from operating activities amounted to 37,112,112,985.91 RMB, an increase of 15.5% from 31,995,646,766.24 RMB year-over-year[27] - The net cash flow from investing activities was -177,134,497.43 RMB, a significant decrease from 1,652,589,306.34 RMB in the previous year[27] - Cash inflow from financing activities totaled 8,405,285,106.46 RMB, down 14.1% from 9,782,021,294.34 RMB year-over-year[27] - The net cash flow from financing activities was 1,461,533,978.13 RMB, compared to -249,314,751.27 RMB in the previous year, showing a positive turnaround[27] - The ending balance of cash and cash equivalents was 5,922,400,416.67 RMB, slightly up from 5,839,027,202.15 RMB year-over-year[28] Business Growth and Strategy - The revenue from the brand promotion business grew by 33.99%, with gross profit increasing by 92.78% compared to the previous year[6] - The revenue from the pharmaceutical retail business surged by 62.24%, with gross profit rising by 68.33% year-on-year[6] - The revenue from third-party logistics increased by 36.99%, with gross profit up by 55.75% compared to the same period last year[6] - The company has exceeded 13,000 self-operated and franchised pharmacies under the "Ten Thousand Store Franchise" plan, covering 1,122 cities across 31 provinces, with a target of over 30,000 stores by 2025[18] - The "Mi Health" service platform has surpassed 400,000 paying users, with over 630,000 prescription transfer orders and an insurance fulfillment amount of 250 million yuan[18] - The company has launched six integrated "BC warehouses" in Guangdong, Shanghai, Jiangsu, Hubei, Zhejiang, and Tianjin, aiming for full coverage of "Bb/BC warehouse integration" capabilities in the next three years[18] - The company has completed the "Bb integration" transformation for 12 logistics companies, achieving "zero inventory" for clients and sharing 100,000 product specifications[18] Shareholder Information - The total number of common shareholders at the end of the reporting period is 25,486, with the top ten shareholders holding a combined 56.85% of shares[11] - Shanghai Hongkang Industrial Investment Co., Ltd. holds 404,441,118 shares, accounting for 21.58% of total shares, with 240,240,000 shares pledged[11] - Lion Dragon International Group (Hong Kong) Limited holds 213,894,000 shares, representing 11.41% of total shares[11] - The top ten preferred shareholders hold a total of 20 million shares, with China Orient Asset Management Co., Ltd. holding 5 million shares, accounting for 25%[14] - The top ten shareholders include several entities with pledged shares, indicating a potential risk in shareholder stability[11] Future Initiatives - The company plans to initiate a public REITs issuance for pharmaceutical logistics and warehousing assets, aiming to raise up to 3 billion RMB[17] - The REITs project is expected to enhance the company's financial metrics and improve asset liquidity, reducing reliance on traditional debt financing[17] - The company is actively responding to national policy initiatives by launching the REITs project, which is expected to positively impact its market presence[17] - The company aims to activate over 3 million square meters of pharmaceutical logistics and warehousing assets through the REITs initiative[17]