WAZAM(SH:603186)2023-04-17 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥757,885,679.32, representing a decrease of 9.45% compared to the same period last year[5] - The net profit attributable to shareholders was a loss of ¥7,797,472.38, reflecting a decline of 125.30% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥13,918,101.30, down 155.73% from the previous year[5] - The basic earnings per share for the period was -¥0.05, a decrease of 124.99% compared to the same period last year[6] - The diluted earnings per share also stood at -¥0.05, down 127.49% year-on-year[6] - The weighted average return on equity was -0.46%, a decrease of 2.26 percentage points compared to the end of the previous year[6] - Net profit for Q1 2023 was a loss of ¥7,893,596.06, compared to a profit of ¥31,719,906.07 in Q1 2022, representing a significant decline[20] - Basic earnings per share for Q1 2023 was -¥0.05, compared to ¥0.22 in Q1 2022[21] Cash Flow - The net cash flow from operating activities was -¥101,236,418.01, primarily due to a decrease in cash received from sales of goods and services[11] - Cash flow from operating activities for Q1 2023 was -¥101,236,418.01, compared to -¥66,715,792.89 in Q1 2022, indicating worsening cash flow[22] - Cash flow from investing activities for Q1 2023 was -¥116,260,367.05, an improvement from -¥252,714,747.65 in Q1 2022[22] - Cash flow from financing activities for Q1 2023 was ¥265,196,890.90, down from ¥588,045,443.34 in Q1 2022[22] - The company reported a total cash inflow from operating activities of ¥666,904,870.54, down from ¥890,732,247.89 in Q1 2022[22] - The net increase in cash and cash equivalents for Q1 2023 was $45,711,190.96, compared to $269,767,880.72 in the same period last year[23] - The cash and cash equivalents balance at the beginning of the period was $367,926,165.29, up from $233,038,216.33 year-over-year[23] - The ending balance of cash and cash equivalents for Q1 2023 was $413,637,356.25, compared to $502,806,097.05 in Q1 2022[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,931,553,429.37, an increase of 5.17% from the end of the previous year[6] - As of March 31, 2023, the total assets of Zhejiang Huazheng New Materials Co., Ltd. amounted to CNY 5,931,553,429.37, an increase from CNY 5,640,233,303.50 at the end of 2022[15] - The company's current assets totaled CNY 2,971,182,630.11, up from CNY 2,752,944,169.46 at the end of 2022, reflecting a growth of approximately 7.94%[16] - Total liabilities increased to CNY 4,239,586,699.81 from CNY 3,943,311,244.49, which is an increase of approximately 7.53%[17] - The company's equity attributable to shareholders decreased slightly to CNY 1,674,551,117.71 from CNY 1,679,410,323.48, a decline of about 0.34%[17] - The total current liabilities rose to CNY 2,934,033,102.64 from CNY 2,758,992,911.33, indicating an increase of approximately 6.35%[17] Inventory and Expenses - The company's inventory increased to CNY 461,462,800.77 from CNY 441,918,209.35, representing a growth of about 4.41%[15] - Research and development expenses for Q1 2023 were ¥48,617,393.69, an increase from ¥42,201,090.06 in Q1 2022, reflecting continued investment in innovation[19] - Sales expenses for Q1 2023 were ¥18,426,859.32, up from ¥16,416,805.90 in Q1 2022, indicating increased marketing efforts[19] Price and Margin Analysis - The decline in net profit was mainly attributed to a larger decrease in copper-clad laminate prices compared to the reduction in raw material prices, leading to a drop in gross margin[10] - Total operating costs for Q1 2023 were ¥782,948,851.24, down 3.9% from ¥814,736,202.31 in Q1 2022[19]