HJT(SH:603577)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 870,597,732.65, representing a 12.41% increase compared to CNY 626,810,935.90 in the same period last year[3]. - The net profit attributable to shareholders decreased by 67.73% to CNY 5,016,808.82 from CNY 16,303,000.09 year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 90.12% to CNY 1,279,146.85 from CNY 13,975,984.66 in the previous year[3]. - The basic earnings per share decreased by 67.69% to CNY 0.0148 from CNY 0.047 in the same period last year[4]. - The net profit for Q1 2023 was CNY 5,714,876.39, a decrease from CNY 16,104,525.44 in Q1 2022, representing a decline of approximately 64.5%[15]. - Operating profit for Q1 2023 was CNY 4,381,933.06, compared to CNY 13,649,256.83 in the same period last year, indicating a decrease of about 67.9%[15]. - Total comprehensive income for Q1 2023 was CNY 5,589,972.87, down from CNY 16,132,230.19 in Q1 2022, reflecting a decline of approximately 65.3%[15]. - Basic and diluted earnings per share for Q1 2023 were both CNY 0.0148, down from CNY 0.0458 in Q1 2022, reflecting a decrease of about 67.7%[15]. Cash Flow and Financial Position - The company reported a net cash flow from operating activities of -CNY 62,046,088.24, indicating a negative cash flow situation[3]. - Cash flow from operating activities for Q1 2023 was negative at CNY -62,046,088.24, an improvement from CNY -403,739,505.04 in Q1 2022[17]. - The net cash flow from investing activities for Q1 2023 was CNY -26,316,819.74, compared to CNY -67,661,353.60 in Q1 2022, showing an improvement[18]. - Cash and cash equivalents as of March 31, 2023, amounted to ¥515,555,865.61, a 24.8% increase from ¥413,032,964.09 at the end of 2022[10]. - Cash and cash equivalents at the end of Q1 2023 amounted to CNY 460,688,006.51, an increase from CNY 358,140,013.53 at the end of Q1 2022[18]. Assets and Liabilities - The total assets at the end of the reporting period increased by 2.90% to CNY 6,106,386,548.92 from CNY 5,934,486,437.09 at the end of the previous year[4]. - Total assets as of March 31, 2023, were ¥6,106,386,548.92, up from ¥5,934,486,437.09 at the end of 2022[13]. - Short-term borrowings increased significantly to ¥1,427,743,709.56 from ¥996,625,746.48, indicating a potential increase in leverage[12]. - Accounts receivable decreased to ¥1,344,315,626.00 from ¥1,459,300,752.77, indicating improved collection efficiency[10]. - Inventory decreased to ¥1,402,180,372.01 from ¥1,472,575,987.97, reflecting better inventory management[11]. Operating Costs and Expenses - The total operating costs for Q1 2023 were ¥864,084,389.08, up 13.4% from ¥761,810,173.62 in Q1 2022[14]. - The gross profit margin of the main business products decreased by 1.66 percentage points due to the revenue growth not keeping pace with the increase in operating costs[8]. - The total operating expenses for Q1 2023 were CNY 790,987,437.48, compared to CNY 1,186,847,205.18 in Q1 2022, indicating a reduction of approximately 33.4%[17]. Research and Development - Research and development expenses for Q1 2023 were ¥22,039,373.36, down from ¥24,863,668.86 in Q1 2022, suggesting a potential shift in R&D focus[14]. Credit and Financial Adjustments - The company reported a credit impairment loss of ¥10,977,670.14 in Q1 2023, compared to ¥220,572.45 in Q1 2022, indicating increased credit risk[14]. - The company has made adjustments to its financial data due to the acquisition of an 80% stake in Chongqing Jiangdian Electric Power Equipment Co., Ltd., which became a subsidiary in April 2022[5].