KN(SH:603111)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥607,315,711.02, representing a decrease of 11.98% compared to the same period last year[2]. - Net profit attributable to shareholders was ¥33,269,731.33, an increase of 29.98% year-on-year[2]. - The net profit after deducting non-recurring gains and losses was ¥21,770,484.27, showing a significant increase of 90.00% compared to the previous year[2]. - The basic earnings per share for the period was ¥0.03, up by 29.83% year-on-year[2]. - Total revenue for Q1 2023 was ¥607.32 million, a decrease of 12.0% compared to ¥689.95 million in Q1 2022[18]. - Net profit for Q1 2023 reached ¥35.27 million, an increase of 26.4% from ¥27.88 million in Q1 2022[19]. - Operating profit for Q1 2023 was ¥39.65 million, up 26.7% from ¥31.31 million in Q1 2022[18]. - Total comprehensive income for Q1 2023 was ¥35.28 million, an increase of 27.0% from ¥27.76 million in Q1 2022[19]. Cash Flow - The company reported a net cash flow from operating activities of -¥151,630,062.34, which is not applicable for comparison[2]. - Cash flow from operating activities for Q1 2023 was negative at ¥151.63 million, an improvement from negative ¥317.12 million in Q1 2022[21]. - Cash flow from investing activities for Q1 2023 was negative at ¥43.49 million, compared to positive ¥175.08 million in Q1 2022[21]. - Cash flow from financing activities for Q1 2023 was positive at ¥4.31 million, a turnaround from negative ¥18.21 million in Q1 2022[21]. - The company's cash and cash equivalents decreased from 1,333,446,351.81 RMB at the end of 2022 to 1,122,021,788.40 RMB by March 31, 2023[13]. - The ending cash and cash equivalents balance was $824.16 million in Q1 2023, down from $986.44 million in Q1 2022[28]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥5,814,280,126.37, a decrease of 2.97% from the end of the previous year[2]. - The total current assets as of March 31, 2023, amounted to 5,187,865,384.24 RMB, a decrease from 5,379,509,303.42 RMB on December 31, 2022[13]. - The total liabilities as of March 31, 2023, were 2,048,601,405.63 RMB, down from 2,261,538,723.62 RMB at the end of 2022[15]. - The company's total equity increased from 3,730,403,420.38 RMB at the end of 2022 to 3,765,678,720.74 RMB by March 31, 2023[15]. - The company's total liabilities decreased to CNY 1,807,375,382.28 from CNY 1,865,719,985.04 at the end of 2022[23]. Operational Challenges - The decline in operating revenue was primarily due to project demand delays, resulting in a reduction of approximately ¥97 million in the rail business revenue[3]. - The company is facing risks related to administrative penalties and potential investor lawsuits due to past violations[11]. - The company has initiated legal proceedings against the original shareholders of Longxin Technology for compensation related to performance commitments[10]. Inventory and Expenses - The company's inventory increased to CNY 311,046,148.61 in Q1 2023, compared to CNY 266,087,659.25 in Q4 2022, reflecting a 16.9% increase[22]. - Research and development expenses for Q1 2023 were CNY 31,218,791.27, slightly down from CNY 33,360,528.46 in Q1 2022[24]. - The company's cash paid for purchasing goods and services was $305.99 million in Q1 2023, a decrease from $364.72 million in Q1 2022, indicating a reduction of approximately 16%[27]. - The cash paid to employees was $124.86 million in Q1 2023, down from $140.57 million in Q1 2022, representing a decrease of about 11%[27]. Financial Indicators - Significant changes in financial indicators included a 61.05% increase in right-of-use assets due to new leases[4]. - The company experienced a 140.19% increase in lease liabilities, attributed to new lease agreements during the period[4]. - The weighted average return on equity increased by 0.16 percentage points to 0.92%[2].