Wellhope(SH:603609)2023-04-27 16:00Main Financial Data In Q1 2023, the company's operating revenue grew 23.05% to RMB 7.844 billion, with net profit attributable to shareholders turning profitable at RMB 19.43 million, driven by poultry and hog business improvements and asset disposal gains, despite negative core business profitability and cash outflow Key Accounting Data and Financial Indicators During the reporting period, the company achieved a 23.05% year-on-year increase in operating revenue, with net profit attributable to shareholders turning from loss to profit, though operating cash flow remained negative and total assets slightly decreased from year-end Q1 2023 Key Financial Indicators | Indicator | Current Reporting Period | Year-on-Year Change (%) | | :--- | :--- | :--- | | Operating Revenue (RMB) | 7,843,617,840.18 | 23.05 | | Net Profit Attributable to Shareholders (RMB) | 19,434,574.57 | N/A (Turned Profitable) | | Net Profit Attributable to Shareholders Excluding Non-Recurring Items (RMB) | -30,439,130.62 | N/A | | Net Cash Flow from Operating Activities (RMB) | -288,366,567.32 | N/A | | Basic Earnings Per Share (RMB/share) | 0.02 | N/A (Turned Profitable) | | Weighted Average Return on Net Assets (%) | 0.27 | Increased by 2.27 percentage points | | Indicator | As of End of Current Reporting Period | Change from End of Prior Year (%) | | Total Assets (RMB) | 15,021,859,133.78 | -2.41 | | Total Equity Attributable to Shareholders (RMB) | 7,259,232,944.88 | 0.31 | 67 Non-Recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for the quarter amounted to RMB 49.87 million, a key factor in achieving positive net profit attributable to shareholders, with non-current asset disposal gains contributing RMB 38.70 million and government subsidies approximately RMB 28.00 million Q1 2023 Non-Recurring Gains and Losses Items | Item | Amount (RMB) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 38,704,740.06 | | Government Subsidies Included in Current Profit/Loss | 27,994,456.02 | | Net Other Non-Operating Income and Expenses | -5,919,569.32 | | Gains/Losses from Fair Value Changes and Investment Income | -1,027,020.00 | | Total | 49,873,705.19 | 8 Analysis of Changes in Key Financial Indicators The company's net profit and EPS and other profitability indicators significantly improved year-on-year, turning losses into profits, primarily due to increased profits from poultry and hog businesses and non-recurring gains from asset disposals - Net profit attributable to shareholders, net profit excluding non-recurring items, basic earnings per share, and diluted earnings per share significantly improved year-on-year, primarily due to increased profits from the company's poultry and hog businesses, and the contribution from asset disposal gains8 Shareholder Information As of the end of the reporting period, the company had 23,760 common shareholders, with the top ten shareholders collectively holding approximately 62.25%, indicating a relatively concentrated equity structure, and several natural person shareholders including Jin Weidong and Ding Yunfeng, along with Changzhou Heli Venture Capital, are acting in concert - As of the end of the reporting period, the company had a total of 23,760 common shareholders10 - Jin Weidong, Ding Yunfeng, Wang Fengjiu, Shao Caimei, and Wang Zhongtao are acting in concert; Jin Weidong is the actual controller of Changzhou Heli Venture Capital Partnership (Limited Partnership)11 Top Ten Shareholders' Holdings | Shareholder Name | Shareholding Percentage (%) | Number of Shares Held | | :--- | :--- | :--- | | Jin Weidong | 16.27 | 149,549,498 | | DE HEUS MAURITIUS | 8.95 | 82,303,939 | | Ding Yunfeng | 8.91 | 81,929,558 | | Shao Caimei | 5.41 | 49,773,878 | | Zhang Tiesheng | 5.26 | 48,360,000 | | Changzhou Heli Venture Capital Partnership (Limited Partnership) | 5.26 | 48,360,000 | | Wang Fengjiu | 5.22 | 47,964,602 | | Wang Zhongtao | 5.07 | 46,625,229 | | Hong Kong Securities Clearing Company Limited | 2.53 | 23,253,783 | | Heofeng Food Co., Ltd. Repurchase Special Securities Account | 2.28 | 20,956,579 | 10 Quarterly Financial Statements This quarter's financial statements are unaudited; the balance sheet shows a slight decrease in total assets from the beginning of the period, the income statement indicates the company turned profitable primarily due to revenue growth and asset disposal gains, and the cash flow statement shows operating cash flow remains negative but improved year-on-year Consolidated Balance Sheet As of March 31, 2023, the company's total assets were RMB 15.022 billion, a slight decrease of 2.41% from year-end; total liabilities were RMB 6.706 billion, down 4.70%; and total equity attributable to shareholders was RMB 7.259 billion, a slight increase of 0.31%, indicating a stable overall asset and liability structure Key Balance Sheet Items | Item | March 31, 2023 (RMB) | December 31, 2022 (RMB) | | :--- | :--- | :--- | | Total Assets | 15,021,859,133.78 | 15,393,315,399.76 | | Total Liabilities | 6,705,688,800.03 | 7,036,593,722.80 | | Total Equity Attributable to Parent Company Shareholders | 7,259,232,944.88 | 7,236,565,423.28 | | Total Equity | 8,316,170,333.75 | 8,356,721,676.96 | 1314 Consolidated Income Statement In Q1 2023, the company achieved total operating revenue of RMB 7.844 billion, a 23.05% year-on-year increase, with net profit attributable to shareholders reaching RMB 19.43 million, a significant turnaround from a loss of RMB 128 million in the prior year, driven by RMB 42.44 million in asset disposal gains and positive investment income Key Income Statement Items | Item | Q1 2023 (RMB) | Q1 2022 (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 7,843,617,840.18 | 6,374,353,021.62 | | Operating Profit | 1,057,871.37 | -148,479,491.93 | | Total Profit | 14,172,979.72 | -156,221,157.08 | | Net Profit Attributable to Parent Company Shareholders | 19,434,574.57 | -128,176,181.71 | | Gains/Losses from Asset Disposal | 42,438,694.93 | -2,589,284.23 | 1516 Consolidated Cash Flow Statement During the reporting period, net cash flow from operating activities was -RMB 288 million, an outflow but an improvement from -RMB 365 million year-on-year; net cash outflow from investing activities significantly narrowed, while net cash inflow from financing activities substantially decreased, resulting in an ending cash and cash equivalents balance of RMB 1.317 billion, a decrease of RMB 332 million from the beginning of the period Key Cash Flow Statement Items | Item | Q1 2023 (RMB) | Q1 2022 (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -288,366,567.32 | -364,899,379.02 | | Net Cash Flow from Investing Activities | -44,584,058.34 | -182,798,314.14 | | Net Cash Flow from Financing Activities | 2,345,374.10 | 233,951,493.70 | | Net Increase in Cash and Cash Equivalents | -331,847,982.56 | -313,880,908.05 | | Ending Balance of Cash and Cash Equivalents | 1,317,132,240.26 | 884,392,653.86 | 18