DAFENG INDUSTRY(SH:603081)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 333,388,070.26, representing a decrease of 27.75% compared to the same period last year[5] - The net profit attributable to shareholders was CNY 21,344,083.14, down 69.39% year-on-year[5] - The basic earnings per share decreased by 70.59% to CNY 0.05[6] - Total operating revenue for Q1 2023 was CNY 333,388,070.26, a decrease of 27.8% compared to CNY 461,421,537.27 in Q1 2022[19] - Net profit for Q1 2023 was CNY 20,471,742.19, a decline of 69.6% from CNY 67,427,877.32 in Q1 2022[22] - Earnings per share for Q1 2023 were CNY 0.05, compared to CNY 0.17 in Q1 2022[22] - The company reported a financial expense of CNY -10,035,559.37 in Q1 2023, compared to CNY 4,120,028.72 in Q1 2022[21] - The company recorded a net impairment loss of CNY 16,411,719.24 in Q1 2023, down from CNY 30,310,107.94 in Q1 2022[21] - The net profit for Q1 2023 was CNY 16,101,793.67, a significant decrease of 77% compared to CNY 70,006,969.10 in Q1 2022[34] Assets and Liabilities - The total assets at the end of the reporting period were CNY 7,503,000,734.35, a decrease of 2.04% from the end of the previous year[6] - The company's total assets amounted to RMB 7,503,000,734.35, a decrease from RMB 7,658,991,007.21 at the end of 2022, reflecting a decline of approximately 2.03%[15] - The company's total liabilities as of Q1 2023 amounted to CNY 4,584,260,516.60, a decrease from CNY 4,763,933,329.89 in the previous year[21] - The total liabilities as of the end of Q1 2023 amounted to CNY 2,408,016,183.64, a decrease from CNY 2,562,447,043.96 at the end of Q1 2022[31] - The total current liabilities decreased to RMB 2,498,973,392.64 from RMB 2,713,886,828.69, a decline of about 7.89%[16] - The total current liabilities increased to 1,200,000,000.00 RMB, up from 1,100,000,000.00 RMB at the end of 2022, indicating a 9.1% rise[30] Cash Flow - The net cash flow from operating activities was negative at CNY -254,467,240.84, indicating a significant cash outflow[5] - In Q1 2023, the net cash flow from operating activities was -254,467,240.84 RMB, an improvement from -324,092,803.20 RMB in Q1 2022, indicating a 21.5% reduction in losses[25] - Total cash inflow from operating activities decreased to 525,049,853.77 RMB, down 24.5% from 695,329,267.47 RMB in the same period last year[25] - The cash outflow from operating activities was 779,517,094.61 RMB, a decrease of 23.5% compared to 1,019,422,070.67 RMB in Q1 2022[25] - The net cash flow from investing activities was 66,413,667.37 RMB, a significant improvement from -300,077,504.82 RMB in Q1 2022[27] - The net cash flow from financing activities was 142,287,893.02 RMB, a decrease of 38.8% compared to 232,493,434.74 RMB in Q1 2022[27] Investments and Expenses - The company reported a significant increase in prepayments by 88.40%, primarily due to higher advance payments for materials[10] - Short-term borrowings increased by 37.14%, reflecting a rise in bank loans during the period[10] - Other income increased by 119.06%, mainly due to an increase in government subsidies[10] - Research and development expenses for Q1 2023 were CNY 35,832,798.27, an increase from CNY 32,840,287.39 in Q1 2022[21] - Research and development expenses for Q1 2023 were CNY 22,456,831.66, down from CNY 24,636,769.85 in Q1 2022, indicating a reduction of 8.8%[33] Company Developments - The company has not disclosed any new product developments or market expansion strategies in the current report[14] - There are no significant mergers or acquisitions reported during the quarter[14] - The company did not apply new accounting standards or interpretations for the current year[36]