Zhejiang Wansheng (SH:603010)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 710,612,463.92, representing a decrease of 20.12% compared to the same period last year[4]. - The net profit attributable to shareholders was CNY 57,641,006.88, down 55.17% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 38,595,542.89, a decline of 69.88% compared to the previous year[4]. - The basic earnings per share (EPS) was CNY 0.10, reflecting a decrease of 61.54% year-on-year[4]. - The operating profit for the first quarter of 2023 was CNY 67,927,291.18, a decline of 56.7% compared to CNY 156,562,616.09 in the first quarter of 2022[20]. - The net profit for Q1 2023 was ¥57,509,870.84, a decrease of 54.7% compared to ¥126,928,367.00 in Q1 2022[21]. - The total comprehensive income for Q1 2023 was ¥56,937,345.72, down from ¥126,147,320.59 in the same period last year, reflecting a decline of 54.9%[21]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 148,879,194.16, down 22.90% year-on-year[4]. - Cash flow from operating activities generated a net amount of ¥148,879,194.16, a decrease of 23.0% from ¥193,103,608.37 in Q1 2022[23]. - Cash inflow from operating activities totaled ¥842,745,685.48, compared to ¥1,097,266,233.78 in Q1 2022, indicating a decline of 23.3%[23]. - The cash and cash equivalents at the end of Q1 2023 amounted to ¥1,703,239,636.48, compared to ¥1,866,308,500.36 at the end of Q1 2022, a decrease of 8.7%[24]. - The company maintains a strong liquidity position with cash and cash equivalents of approximately $1.68 billion[27]. Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 6,169,443,235.51, an increase of 1.91% from the end of the previous year[5]. - The total liabilities as of March 31, 2023, were CNY 2,100,621,188.96, compared to CNY 2,029,708,290.27 at the end of 2022[16]. - Total current assets amounted to approximately $3.06 billion as of December 31, 2022[27]. - Non-current assets totaled approximately $2.99 billion, leading to total assets of approximately $6.05 billion[28]. - Total current liabilities were approximately $1.52 billion, with short-term borrowings at approximately $271.48 million[29]. - Total non-current liabilities reached approximately $514.03 million, with long-term borrowings at approximately $375.93 million[29]. - Total liabilities amounted to approximately $2.03 billion, indicating a solid capital structure[29]. - Shareholders' equity totaled approximately $4.02 billion, with retained earnings of approximately $1.50 billion[29]. Investments and Disposals - The company disposed of 60.6032% of its subsidiary Fujian Zhongzhou New Materials Technology Co., Ltd. for CNY 44 million, receiving CNY 25 million of the transfer payment by the reporting date[11]. - The company signed a share transfer agreement with Fosun High Technology to transfer 29.56% of its shares in Wansheng Co., valued at CNY 2.65 billion[12]. - The company has invested approximately $963.46 million in construction projects, indicating ongoing expansion efforts[28]. - The company holds approximately $420.17 million in intangible assets, reflecting its investment in technology and innovation[28]. Cost Management - The total operating costs for the first quarter of 2023 were CNY 660,943,411.23, down 10.6% from CNY 739,374,548.14 year-over-year[20]. - The company reported a non-recurring gain of CNY 19,045,463.99, primarily from the disposal of non-current assets[6]. - The company reported cash outflow from investing activities of ¥228,219,161.15, down from ¥326,509,711.06 in the previous year, a reduction of 30.1%[24]. - The net cash flow from financing activities was ¥115,468,037.49, significantly lower than ¥1,479,592,253.75 in Q1 2022, reflecting a decrease of 92.2%[24]. - The company reported a tax expense of ¥10,079,920.43 for Q1 2023, down from ¥29,296,829.12 in Q1 2022, a decrease of 65.6%[21].