Sinotec(SH:603121)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥292,654,203.33, representing a year-on-year increase of 36.83%[5] - The net profit attributable to shareholders for Q1 2023 was ¥42,730,903.78, showing a significant increase of 966.29% compared to the same period last year[5] - The basic earnings per share for Q1 2023 was ¥0.12, reflecting a growth of 500.00% year-on-year[6] - Operating profit for Q1 2023 was ¥52,089,008.15, compared to ¥6,217,937.89 in Q1 2022, reflecting a significant improvement[20] - Net profit for Q1 2023 was ¥36,945,237.37, up from ¥3,989,543.48 in Q1 2022, marking a substantial growth[21] - The company reported a net cash flow from operating activities of -¥58,428,880.52 in Q1 2023, compared to -¥2,044,478.91 in Q1 2022[22] - The company recorded a profit before tax of ¥52,925,893.16 in Q1 2023, compared to ¥6,405,596.70 in Q1 2022, highlighting a strong operational performance[21] Assets and Liabilities - The total assets at the end of Q1 2023 were ¥2,166,835,144.51, a decrease of 1.19% from the end of the previous year[6] - Current assets totaled RMB 952,798,668.48, slightly down from RMB 957,489,764.51 at the end of 2022, indicating a decrease of about 0.7%[17] - The total liabilities decreased to ¥956,874,425.53 in Q1 2023 from ¥1,015,337,828.55 in Q1 2022, showing improved financial health[20] - The total non-current assets were RMB 1,214,036,476.03, down from RMB 1,235,464,206.79, reflecting a decrease of about 1.7%[18] Cash Flow - The net cash flow from operating activities was -¥58,428,880.52, which is not applicable for year-on-year comparison[5] - Net cash flow from investment activities was $102,747,662.97, compared to a negative cash flow of $2,688,118.48 in the previous year[23] - Cash inflow from financing activities totaled $100,500,000.00, up from $56,265,987.92 year-over-year[23] - Cash outflow for debt repayment was $87,997,125.44, significantly higher than $35,036,000.00 in the same period last year[23] - The net increase in cash and cash equivalents was $33,016,040.77, compared to $14,759,508.33 in the previous year[23] - The ending balance of cash and cash equivalents reached $179,196,632.63, up from $114,583,864.30 year-over-year[23] - Total cash outflow from financing activities was $110,796,939.24, compared to $35,508,878.42 in the previous year[23] - Cash inflow from loans amounted to $89,600,000.00, an increase from $54,200,200.00 in the previous year[23] - The impact of exchange rate changes on cash and cash equivalents was a decrease of $1,005,802.44[23] Investments and Expenses - The company reported a non-recurring gain of ¥50,367,541.42 from the disposal of equity interests in an associate[7] - The company achieved a net profit excluding non-recurring items of ¥2,224,224.26, an increase of 46.87% year-on-year[5] - Research and development expenses increased to ¥18,238,064.27 in Q1 2023, up from ¥13,395,948.10 in Q1 2022, indicating a focus on innovation[20] - The total operating costs for Q1 2023 were ¥287,678,654.43, an increase from ¥209,856,077.24 in Q1 2022, primarily driven by higher sales and administrative expenses[20] Shareholder Information - The company has a total of 139,540,400 shares held by Shanghai Huajian Investment Management Co., Ltd., representing 41.22% of total shares[14] - The company's total equity increased to ¥1,209,960,718.98 in Q1 2023, compared to ¥1,177,616,142.75 in Q1 2022, reflecting growth in shareholder value[20] Future Outlook - The company anticipates continued growth in revenue and profitability driven by improved production efficiency and market expansion strategies[10]