JH Group(SH:603518)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,167,274,847.21, representing an increase of 8.05% compared to the same period last year[6]. - Net profit attributable to shareholders for Q1 2023 was CNY 102,585,354.29, a significant increase of 149.32% year-over-year[6]. - Basic earnings per share for Q1 2023 was CNY 0.3, reflecting a growth of 114.29% compared to the previous year[8]. - Total operating revenue for the reporting period was CNY 1,161,607,752.92, representing a year-on-year increase of 7.96%[20]. - Total operating revenue for Q1 2023 reached ¥1,167,274,847.21, an increase of 8.06% compared to ¥1,080,268,312.55 in Q1 2022[34]. - Net profit for Q1 2023 was ¥102,585,354.29, representing a significant increase of 149.00% from ¥41,145,404.84 in Q1 2022[37]. Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 5,977,167,442.56, a decrease of 2.20% from the end of the previous year[8]. - The company's total assets decreased from ¥6,111,530,310.77 in the previous period to ¥5,977,167,442.56, a decline of 2.19%[32]. - Total liabilities decreased from ¥3,020,712,281.11 to ¥2,774,447,876.62, reflecting a reduction of 8.15%[32]. - The company's equity attributable to shareholders increased from ¥3,090,818,029.66 to ¥3,202,719,565.94, an increase of 3.61%[32]. Cash Flow - The company reported a net cash flow from operating activities of CNY 206,062,939.28, which decreased by 7.15% year-over-year[6]. - In Q1 2023, the company reported a net cash flow from operating activities of CNY 206,062,939.28, a decrease of 7.1% compared to CNY 221,925,038.29 in Q1 2022[42]. - The net cash flow from investing activities was negative CNY 21,079,366.04 in Q1 2023, an improvement from negative CNY 54,161,576.20 in Q1 2022[44]. - The company reported a net cash flow from financing activities of negative CNY 112,945,904.49 in Q1 2023, slightly better than negative CNY 113,824,858.26 in Q1 2022[44]. - The total operating cash inflow for Q1 2023 was CNY 1,110,148,555.48, compared to CNY 1,121,072,584.56 in Q1 2022, indicating a decline of about 1.0%[42]. - The company’s total cash outflow from operating activities was CNY 904,085,616.20 in Q1 2023, slightly up from CNY 899,147,546.27 in Q1 2022[42]. Inventory and Expenses - Inventory decreased by 14% due to significant sales of unsold autumn and winter stock from the previous year[12]. - The inventory decreased significantly from CNY 1,142,645,528.75 to CNY 985,031,579.45, indicating improved inventory management[27]. - Prepayments increased by 39% primarily due to higher e-commerce expenses[12]. - The company experienced a 40% reduction in financial expenses due to decreased outstanding borrowings and lower interest rates[12]. - Research and development expenses rose to ¥27,591,019.53 in Q1 2023, up from ¥23,977,594.42 in Q1 2022, marking an increase of 15.00%[35]. - The company paid CNY 226,015,882.95 in employee compensation during Q1 2023, down from CNY 251,133,965.61 in Q1 2022, a decrease of 10.0%[42]. Store Performance - The number of ordinary shareholders at the end of the reporting period was 20,126[14]. - The number of VGRASS direct stores decreased from 170 to 166, reflecting a decline of 10.27% year-on-year[16]. - The total number of stores at the end of the reporting period was 1,393, down 2.52% from the previous year[16]. - TEENIE WEENIE brand's operating revenue was CNY 914,806,095, with a gross profit margin of 69.43%[17]. - Online sales generated CNY 440,914,880.58 in revenue, marking a year-on-year increase of 26.22%[21]. Profitability - The gross profit margin for the overall business was 69.37%, with a slight increase of 0.21% compared to the previous year[20]. - The gross profit margin for direct stores was 73.49%, while for franchise stores it was 56.24%, showing a significant difference in profitability[18]. - The average selling price for VGRASS increased by 7.2% to CNY 3,442, while TEENIE WEENIE's average price decreased by 1.6% to CNY 846[22]. Future Outlook - The company plans to continue expanding its market presence and investing in new product development, although specific details were not provided in the earnings call[34].