2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 47.35 billion, a decrease of 55.13% compared to CNY 105.53 billion in the same period last year[4] - Net profit attributable to shareholders was CNY 7.13 billion, down 74.20% from CNY 27.62 billion year-on-year[4] - The net cash flow from operating activities was CNY 6.15 billion, reflecting a significant decline of 90.16% compared to CNY 62.53 billion in the previous year[4] - Basic earnings per share decreased to CNY 0.44, a drop of 74.57% from CNY 1.72 in the same quarter last year[4] - The weighted average return on equity fell to 3.50%, a decrease of 15.21 percentage points from 18.82% year-on-year[4] - Total revenue for Q1 2023 was RMB 42.303 billion, a decrease of 57.40% compared to the previous year[11] - Net profit for Q1 2023 was ¥8.58 billion, a decline of 73.7% from ¥32.57 billion in Q1 2022[21] - The company's EBIT for Q1 2023 was RMB 10.727 billion, a decrease of RMB 29.807 billion year-on-year, representing a decline of 73.54%[9] - EBIT for the group fell to RMB 9,288,164,000, compared to RMB 39,550,975,000 in the same period last year, a decrease of RMB 30,262,811,000[13] - The company's net profit for Q1 2023 reached ¥443,855,714.09, a significant increase from ¥69,127,265.92 in Q1 2022, representing a growth of approximately 542%[29] Revenue Breakdown - The decline in revenue and profit was primarily attributed to decreased container shipping rates and a reduction in cargo volume[6] - Revenue from the Trans-Pacific route was RMB 10.342 billion, a decrease of 65.83% year-on-year[11] - Revenue from the Asia-Europe route (including the Mediterranean) was RMB 9.721 billion, down 66.71% year-on-year[11] - Revenue from intra-Asia routes (including Australia) was RMB 11.991 billion, a decline of 49.18% year-on-year[11] - Container shipping revenue for the group decreased to RMB 45,700,657,000, down from RMB 103,852,855,000, a decline of RMB 58,152,198,000 year-on-year[13] - The international shipping revenue per container decreased to USD 1,271.51 from USD 2,975.14, a drop of USD 1,703.63[14] Assets and Liabilities - Total assets at the end of the reporting period were CNY 500.96 billion, down 2.14% from CNY 511.78 billion at the end of the previous year[4] - The total assets of the group as of March 31, 2023, were RMB 500,955,324,404.93, a decrease from RMB 511,930,077,251.13 at the end of 2022[18] - Current assets totaled RMB 246,562,027,557.97, down from RMB 261,154,129,671.87 at the end of 2022[17] - The company's total liabilities decreased to ¥240.92 billion in Q1 2023 from ¥258.14 billion in Q1 2022, a reduction of 6.7%[21] - The total liabilities as of March 31, 2023, were ¥1,681,539,575.17, compared to ¥2,766,161,081.66 in the previous year[27] Shareholder Information - Shareholders' equity attributable to the parent company increased by 3.01% to CNY 206.62 billion from CNY 200.38 billion at the end of the previous year[4] - The company's total shares held by China COSCO Shipping Group amounted to 6,855,441,897 shares, accounting for approximately 42.59% of the total share capital as of March 31, 2023[8] - The top ten shareholders collectively held 42.59% of the total shares, with China COSCO Shipping Company being the largest shareholder at 36.81%[7] Cash Flow and Investments - Cash flow from operating activities was ¥52.78 billion in Q1 2023, down 50.5% from ¥106.39 billion in Q1 2022[23] - The total cash outflow from investing activities was ¥10,559,515,848.29, compared to ¥822,980,183.90 in the previous year, resulting in a net cash flow from investing activities of -¥10,085,093,358.51[24] - The company reported a net cash outflow from operating activities of -¥841,978,850.55 in Q1 2023, compared to -¥118,014,457.93 in Q1 2022, indicating increased cash usage in operations[31] - Cash flow from investing activities showed a significant outflow of -¥5,304,309,987.02 in Q1 2023, reflecting substantial investments made during the period[32] Other Financial Metrics - Non-recurring gains and losses totaled CNY 34.58 million, with significant contributions from government subsidies and asset disposals[5] - The company's financial expenses for Q1 2023 amounted to ¥147,342,428.00, a notable increase from a negative expense of -¥110,233,807.18 in Q1 2022, highlighting a shift in financial management[29] - The company's interest income for Q1 2023 was ¥90,680,931.00, down from ¥198,075,989.39 in Q1 2022, reflecting changes in investment returns[29] - The company recorded a foreign exchange loss of ¥1.19 billion in Q1 2023, compared to a loss of ¥295.34 million in Q1 2022[22]