FU-AN(SH:603315)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 200,844,290, representing an increase of 28.64% compared to the same period last year[5]. - The net profit attributable to shareholders decreased by 9.23% to CNY 10,434,572.72[5]. - Basic earnings per share for the period was CNY 0.0340, down by 9.09% year-on-year[6]. - Total operating revenue for Q1 2023 was CNY 200,844,290, an increase of 28.5% compared to CNY 156,128,455 in Q1 2022[20]. - Net profit for Q1 2023 was CNY 10,325,920.54, a decrease of 8.3% from CNY 11,260,272.34 in Q1 2022[21]. - Basic earnings per share for Q1 2023 were CNY 0.0340, down from CNY 0.0374 in Q1 2022[22]. Cash Flow - The net cash flow from operating activities increased significantly by 85.76% to CNY 35,652,792.08[5]. - The cash flow from operating activities for Q1 2023 showed a significant change, reflecting the company's operational efficiency[22]. - In Q1 2023, the cash inflow from operating activities was approximately $297.85 million, an increase of 17.8% compared to $252.75 million in Q1 2022[23]. - The net cash flow from operating activities for Q1 2023 was $35.65 million, up 85.6% from $19.19 million in Q1 2022[24]. - The total cash outflow from investing activities in Q1 2023 was $84.15 million, compared to $64.45 million in Q1 2022, resulting in a net cash flow of -$84.15 million[24]. - Cash inflow from financing activities in Q1 2023 was $155.65 million, slightly down from $156.56 million in Q1 2022[24]. - The net cash flow from financing activities in Q1 2023 was -$39.47 million, a significant decrease from $37.07 million in Q1 2022[24]. - The total cash and cash equivalents decreased by $87.91 million in Q1 2023, contrasting with an increase of $11.34 million in Q1 2022[24]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,679,005,137.62, a decrease of 3.98% from the end of the previous year[6]. - The total current assets decreased to ¥2,008,700,865.72 from ¥2,173,935,561.46, reflecting a reduction of about 7.6%[16]. - The company's total liabilities decreased to CNY 1,235,266,794.47 in Q1 2023 from CNY 1,357,085,406.30 in Q1 2022, a reduction of 9.0%[18]. - The total equity attributable to shareholders increased to CNY 1,448,281,232.11 in Q1 2023 from CNY 1,437,405,873.32 in Q1 2022, an increase of 0.6%[18]. - The company's liquid assets as of March 31, 2023, amounted to ¥155,373,207.53, a decrease from ¥290,985,621.33 on December 31, 2022, indicating a decline of approximately 46.5%[15]. - The company's short-term borrowings were reported at ¥443,583,198.90, slightly down from ¥455,169,463.38, reflecting a decrease of about 2.6%[16]. Research and Development - The company's R&D expenses increased by 56.05% due to higher investment in subsidiary research projects[10]. - Research and development expenses increased to CNY 5,768,307.78 in Q1 2023, compared to CNY 3,696,534.25 in Q1 2022, reflecting a growth of 56.1%[20]. Investments - The company reported a significant increase of 412.61% in investment income, attributed to losses from long-term equity investments[10]. - The company reported an investment loss of CNY 8,403,897.22 in Q1 2023, compared to a loss of CNY 1,639,424.50 in Q1 2022[21]. - The long-term equity investments increased to ¥68,495,879.61 from ¥66,089,645.11, representing a growth of about 3.6%[16]. Strategic Initiatives - The company signed a two-year cooperation agreement in the equipment manufacturing sector, focusing on pumped storage turbine components, capitalizing on the growing demand in the energy sector[14]. - The company aims to capture more market share in the pumped storage sector, aligning with national energy development trends[14]. - The company is in the process of issuing shares and cash to acquire assets, pending approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission[14]. Future Outlook - Future outlook includes continued focus on market expansion and new product development to drive revenue growth[22]. - The company has not indicated any new product launches or market expansion strategies in the current report[25].