XCC(SH:603667)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥810,081,251.52, representing a decrease of 8.2% compared to the same period last year[5] - The net profit attributable to shareholders was ¥40,174,947.23, showing a slight increase of 0.23% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥30,174,714.26, down by 14.36% compared to the previous year[5] - The company reported a net profit margin decline due to reduced revenue, impacting overall profitability metrics[18] - Net profit for Q1 2023 was CNY 41,014,607.93, representing an increase of 2.5% from CNY 40,022,187.17 in Q1 2022[20] - Total comprehensive income for Q1 2023 was CNY 44,345,986.22, down from CNY 46,464,418.15 in Q1 2022, a decrease of 4.5%[20] Cash Flow - The net cash flow from operating activities was ¥42,304,931.86, which increased by 17.96% year-on-year[5] - Operating cash flow for Q1 2023 was CNY 42,304,931.86, up from CNY 35,865,164.94 in Q1 2022, indicating a growth of 18.5%[22] - The net cash flow from investment activities was -$89.72 million, compared to -$99.54 million in the previous year, indicating an improvement of approximately 9%[23] - Total cash and cash equivalents at the end of the period reached $261.04 million, up from $216.73 million, representing an increase of about 20.3% year-over-year[23] - Cash inflow from financing activities totaled $409.88 million, significantly higher than $190.84 million in the same quarter last year, marking an increase of approximately 114.5%[23] - The net cash flow from financing activities was $109.51 million, up from $76.71 million, showing an increase of approximately 42.7% year-over-year[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,583,426,632.90, an increase of 4.00% from the end of the previous year[6] - Current assets increased to CNY 2,556,407,291.11 as of March 31, 2023, up from CNY 2,374,058,422.41 at the end of 2022, representing a growth of 7.6%[14] - Total liabilities reached CNY 2,178,939,961.91, an increase of 9.0% from CNY 1,999,751,562.47 at the end of 2022[15] - The company's equity attributable to shareholders rose to CNY 2,330,416,356.41, up from CNY 2,304,625,635.48, an increase of 1.1%[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 23,728[10] - The largest shareholder, Zhang Feng, holds 21.19% of the shares, amounting to 69,621,123 shares, with a portion pledged[10] Expenses and Costs - Total operating costs for Q1 2023 were CNY 776,085,517.23, a decrease of 7.4% compared to CNY 837,935,851.31 in Q1 2022[19] - Research and development expenses for Q1 2023 were CNY 18,446,735.09, slightly down from CNY 19,578,522.40 in Q1 2022, a decrease of 5.8%[19] - Tax expenses for Q1 2023 were CNY 6,107,936.39, a decrease from CNY 7,221,671.59 in Q1 2022, reflecting a reduction of 15.5%[20] Other Income and Gains - The company reported a non-recurring gain of ¥10,000,232.97 after tax, primarily from government subsidies and other income[7] - Other income for Q1 2023 was CNY 11,860,997.66, significantly higher than CNY 5,523,644.26 in Q1 2022, an increase of 114.5%[19] - The company reported an investment income of CNY 72,542.68 in Q1 2023, recovering from a loss of CNY 991,783.37 in Q1 2022[19] Debt and Financing - The company plans to adjust its debt structure by increasing long-term loans, which rose by 46.41% during the reporting period[8] - Short-term borrowings increased to CNY 828,691,513.86, compared to CNY 814,563,625.36 at the end of 2022, reflecting a rise of 1.6%[15] - The company received $389.88 million in cash from borrowings, a significant increase from $177.72 million in the same quarter last year, representing a growth of about 119.5%[23] Inventory and Receivables - Accounts receivable increased to CNY 793,904,480.19, up from CNY 687,500,691.88, reflecting a growth of 15.5%[14] - Inventory decreased to CNY 878,690,380.02 from CNY 900,448,456.47, a decline of 2.4%[14] Accounting Standards - The company did not apply new accounting standards or interpretations for the first quarter of 2023[24]