HAGG(SH:601177)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 544,890,501.64, a decrease of 5.25% compared to CNY 575,103,785.32 in the same period last year[3]. - Net profit attributable to shareholders increased by 32.51% to CNY 65,590,971.11 from CNY 49,438,096.57 year-on-year[3]. - The basic earnings per share rose by 32.58% to CNY 0.1640 compared to CNY 0.1236 in the previous year[4]. - The company reported a net profit margin of approximately 6.1% for Q1 2023, down from 6.9% in Q1 2022[19]. - The total profit for Q1 2023 was ¥67.73 million, compared to ¥58.58 million in Q1 2022, indicating a growth of around 15.67%[20]. - The net profit for Q1 2023 reached ¥67.09 million, up from ¥57.92 million in Q1 2022, representing an increase of approximately 15.16%[20]. - The profit attributable to the parent company's shareholders was CNY 65,590,971.11, up from CNY 49,438,096.57, representing a growth of 32.6% year-over-year[33]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,440,910,712.38, reflecting a decrease of 2.91% from CNY 4,569,938,261.66 at the end of the previous year[4]. - Total liabilities as of March 31, 2023, were CNY 2,299,727,739.00, an increase from CNY 2,221,107,525.25 at the end of 2022[15]. - The company has a total equity of RMB 2,219,803,187.13 as of Q1 2023, indicating a stable financial position[31]. Cash Flow - The net cash flow from operating activities was negative at CNY -41,420,914.13, compared to CNY -161,796,856.78 in the same period last year, indicating an improvement[3]. - The company reported a net cash outflow from operating activities of approximately ¥41.42 million in Q1 2023, an improvement from a net outflow of ¥161.80 million in Q1 2022[23]. - The company’s cash inflow from operating activities totaled approximately ¥332.61 million in Q1 2023, compared to ¥316.96 million in Q1 2022, reflecting an increase of about 4.93%[23]. Costs and Expenses - Total operating costs for Q1 2023 were CNY 511,571,200.68, down 4.3% from CNY 534,749,510.40 in Q1 2022[19]. - Operating costs included CNY 423,614,811.21 in cost of goods sold, which decreased by 5.1% from CNY 446,258,888.72 in the previous year[19]. - The company is focusing on cost control measures, with a significant reduction in sales expenses to RMB 15,269,681.62 in Q1 2023 from RMB 13,737,826.49 in Q1 2022[31]. - The company incurred financial expenses of CNY 8,227,604.52, slightly lower than CNY 8,267,908.37 in the previous year, showing a decrease of 0.5%[32]. - The company’s management expenses were CNY 35,588,233.65, down from CNY 37,580,926.76, indicating a reduction of 5.3%[32]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,574, with the top ten shareholders holding a combined 61.31% of the shares[9]. - The largest shareholder, Hangzhou Xiaoshan Industrial Development Group Co., Ltd., holds 45.01% of the shares[10]. Future Outlook - The company plans to expand its market presence and invest in new product development in the upcoming quarters[29]. - The company is implementing new accounting standards that may affect future financial reporting, specifically regarding deferred tax assets and liabilities[4].