Eastern Air Logistics (SH:601156)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was RMB 4.58 billion, a decrease of 30.80% year-on-year[4]. - Net profit attributable to shareholders was RMB 761.19 million, down 44.60% compared to the same period last year[4]. - The net profit after deducting non-recurring gains and losses was RMB 657.65 million, reflecting a decline of 50.16% year-on-year[4]. - The basic earnings per share were RMB 0.48, down 44.83% year-on-year[5]. - Total operating revenue for Q1 2023 was ¥4,575,487,029.69, a decrease of 30.7% compared to ¥6,611,855,464.53 in Q1 2022[20]. - Net profit for Q1 2023 was ¥890,857,970.27, a decline of 44.2% from ¥1,595,271,093.09 in Q1 2022[21]. - Earnings per share for Q1 2023 were ¥0.48, compared to ¥0.87 in Q1 2022, reflecting a 44.7% decrease[22]. - The company’s total comprehensive income attributable to shareholders was ¥761,356,797.54 in Q1 2023, down 44.5% from ¥1,374,293,353.18 in Q1 2022[22]. Revenue Breakdown - Revenue from air express services was RMB 241.60 million, accounting for 52.86% of total revenue, down 38.49% year-on-year[6]. - Revenue from integrated logistics solutions was RMB 160.21 million, representing 35.05% of total revenue, down 19.62% year-on-year[6]. Cash Flow and Liquidity - The net cash flow from operating activities was RMB 1.32 billion, a decrease of 50.92% compared to the previous year[4]. - In Q1 2023, the net cash flow from operating activities was CNY 1,322,505,823.07, a decrease of 51.0% compared to CNY 2,694,784,394.18 in Q1 2022[23]. - Total cash inflow from operating activities was CNY 5,021,577,430.23, down 27.3% from CNY 6,905,953,309.47 in the same period last year[23]. - The ending balance of cash and cash equivalents was CNY 9,948,046,141.11, an increase from CNY 9,210,380,740.45 at the end of Q1 2022[24]. - The company received CNY 132,325,445.11 in tax refunds, up from CNY 51,081,303.40 in Q1 2022[23]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 26.31 billion, an increase of 0.92% from the end of the previous year[5]. - The total assets of the company reached CNY 26,307,115,063.76 as of March 31, 2023, compared to CNY 26,067,810,853.30 at the end of 2022, reflecting an increase of approximately 0.92%[15]. - Total liabilities decreased to ¥10,730,834,112.30 in Q1 2023 from ¥11,382,803,992.63 in Q1 2022, a reduction of 5.7%[19]. - Total equity increased to ¥15,576,280,951.46 in Q1 2023 from ¥14,685,006,860.67 in Q1 2022, an increase of 6.1%[19]. Operational Costs - The comprehensive gross profit margin for the main business was 25.61%, a decrease of 7.54 percentage points compared to the previous year[5]. - Total operating costs for Q1 2023 were ¥3,548,597,450.54, down 22.4% from ¥4,573,432,164.31 in Q1 2022[20]. Investments and Expenses - Research and development expenses rose to ¥5,822,917.41 in Q1 2023, up 81.1% from ¥3,214,239.12 in Q1 2022[20]. - Employee compensation payments increased to CNY 590,313,379.26, compared to CNY 467,673,123.77 in the previous year, reflecting a rise of 26.2%[23]. Inventory and Receivables - The company reported a total of CNY 31,540,499.15 in inventory, down from CNY 37,086,275.94, reflecting a decrease of about 15.00%[17]. - Accounts receivable decreased slightly to CNY 1,975,687,007.48 from CNY 1,981,672,792.55, showing a decline of approximately 0.30%[17]. - The company reported a decrease in accounts payable to ¥1,221,113,324.21 in Q1 2023 from ¥1,078,485,552.59 in Q1 2022, an increase of 13.2%[19]. Asset Composition - The company's cash and cash equivalents amounted to CNY 9,989,432,967.91, up from CNY 9,533,138,017.62 in the previous year, indicating a growth of about 4.78%[15]. - The company’s non-current assets totaled CNY 13,813,764,022.65, down from CNY 14,143,576,423.20, indicating a decrease of approximately 2.33%[17]. - The company’s fixed assets increased to CNY 3,676,247,395.44 from CNY 3,604,623,023.10, showing an increase of approximately 1.99%[17]. - The company’s long-term equity investments stood at CNY 34,300,000.00, with no previous year data available for comparison[17]. - The company’s short-term borrowings were reported at CNY 542,864,300.00, slightly down from CNY 557,889,601.55, indicating a decrease of about 2.69%[17].