Hengtong Logistics(SH:603223)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 883,915,206.86, representing a decrease of 25.71% compared to the same period last year[6]. - Net profit attributable to shareholders was CNY 28,503,116.40, an increase of 184.97% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 563.05% to CNY 26,484,739.59[6]. - The net cash flow from operating activities reached CNY 100,902,472.23, up 361.16% year-on-year[6]. - Basic and diluted earnings per share both increased by 100% to CNY 0.06[6]. - The company's operating profit for Q1 2023 was CNY 31,950,832.37, an increase from CNY 16,715,567.07 in Q1 2022, representing a growth of approximately 91.5%[40]. - Net profit for Q1 2023 reached CNY 27,072,933.26, compared to CNY 13,064,806.65 in Q1 2022, indicating a year-over-year increase of about 107.5%[42]. - The total revenue from sales of goods and services in Q1 2023 was CNY 854,716,695.72, down from CNY 1,196,006,313.30 in Q1 2022, reflecting a decrease of approximately 28.5%[46]. - The company incurred total operating expenses of CNY 839,269,433.89 in Q1 2023, compared to CNY 1,151,541,918.37 in Q1 2022, showing a reduction of about 27.1%[38]. - The company reported a total comprehensive income of CNY 27,072,933.26 for Q1 2023, compared to CNY 13,064,806.65 in Q1 2022, which is an increase of approximately 107.5%[44]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,573,280,332.57, a slight increase of 0.4% from the end of the previous year[7]. - The total liabilities decreased to ¥808,150,647.68 in Q1 2023 from ¥819,913,536.01 in the previous year[32]. - The equity attributable to shareholders of the parent company increased to ¥3,703,936,693.35 from ¥3,672,608,959.23 year-over-year[35]. - The company reported a decrease in accounts receivable to ¥276,254,284.40 in Q1 2023 from ¥231,567,371.37 in Q4 2022, indicating a rise of 19.3%[25]. - The inventory increased to ¥7,439,143.41 in Q1 2023 from ¥4,965,639.54 in Q4 2022, reflecting a growth of 49.7%[27]. - The company's long-term borrowings rose to ¥385,720,000.00 in Q1 2023 from ¥340,180,000.00 in the previous year, an increase of 13.4%[32]. Cash Flow and Financing - The company's cash and cash equivalents stood at ¥2,456,594,877.18 as of March 31, 2023, compared to ¥2,457,528,234.74 at the end of 2022[25]. - Cash and cash equivalents at the end of Q1 2023 amounted to CNY 2,419,180,405.96, slightly down from CNY 340,598,435.36 at the end of Q1 2022[50]. - The company raised CNY 60,000,000.00 through borrowings in Q1 2023, compared to CNY 100,000,000.00 in Q1 2022, indicating a decrease of 40% in new borrowings[50]. - The company reported a net cash outflow from financing activities of CNY 61,287,620.43 in Q1 2023, contrasting with a net inflow of CNY 106,272,102.79 in Q1 2022[50]. Market and Industry Insights - The logistics industry in China showed signs of recovery, with the logistics industry prosperity index reaching 55.5%, up 5.4 percentage points from the previous month[14]. - The company adjusted its sales collection policy, leading to a reduction in receivables financing, which contributed to the increase in cash flow[14]. - The company plans to continue enhancing its port and terminal technology levels to maintain rapid industry growth[16]. - The top ten shareholders hold a total of 38.27% of the shares, with Nanshan Group Co., Ltd. being the largest shareholder[17]. Product and Market Strategy - The company has not reported any new product launches or significant market expansion strategies during this quarter[22].