AIHUA GROUP(SH:603989)2023-05-04 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 705,210,844.51, representing a decrease of 18.88% compared to the same period last year[6]. - The net profit attributable to shareholders for Q1 2023 was CNY 90,430,766.93, down 21.27% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 67,107,085.02, a decline of 27.87% compared to the previous year[6]. - The basic earnings per share for Q1 2023 was CNY 0.2256, down 21.28% from the same period last year[6]. - Total revenue for Q1 2023 was CNY 705,210,844.51, a decrease of 19% compared to CNY 869,316,471.71 in Q1 2022[21]. - Operating profit for Q1 2023 was CNY 107,696,443.78, down from CNY 132,365,240.69 in Q1 2022, reflecting a decline of approximately 19%[22]. - Net profit for Q1 2023 was CNY 90,153,219.02, compared to CNY 116,651,589.43 in Q1 2022, representing a decrease of about 23%[22]. - Earnings per share for Q1 2023 were CNY 0.2256, down from CNY 0.2866 in Q1 2022, indicating a decline of approximately 21%[23]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 13,493,128.06, reflecting a significant decrease of 52.20% year-on-year[6]. - The total cash flow from operating activities for Q1 2023 was not provided, but the company continues to focus on improving cash flow management[24]. - The net cash flow from operating activities for Q1 2023 was $13.49 million, a decrease of 52.3% compared to $28.23 million in Q1 2022[26]. - The total cash and cash equivalents at the end of Q1 2023 amounted to $552.67 million, up from $366.55 million at the end of Q1 2022, reflecting an increase of approximately 50.9%[27]. - The company reported a cash inflow from interest and commission fees of $10.57 million in Q1 2023, down from $22.47 million in Q1 2022, a decrease of about 53%[26]. - The company paid $31.97 million in taxes in Q1 2023, which is an increase of approximately 58% compared to $20.25 million in Q1 2022[26]. - The cash outflow for employee compensation decreased to $114.97 million in Q1 2023 from $133.45 million in Q1 2022, a reduction of about 13.8%[26]. - The impact of exchange rate changes on cash and cash equivalents was a negative $1.73 million in Q1 2023, compared to a negative $596,020.24 in Q1 2022[27]. Assets and Liabilities - Total assets at the end of Q1 2023 amounted to CNY 5,541,461,530.67, an increase of 2.91% from the end of the previous year[7]. - The equity attributable to shareholders at the end of Q1 2023 was CNY 3,442,770,105.57, up 2.70% compared to the previous year-end[7]. - Total liabilities increased to CNY 2,055,161,879.57 in Q1 2023 from CNY 1,988,386,260.31 in Q1 2022, marking an increase of about 3.4%[20]. - Total equity rose to CNY 3,486,299,651.10 in Q1 2023 from CNY 3,396,146,432.08 in Q1 2022, reflecting an increase of approximately 2.6%[20]. - The accounts receivable decreased to CNY 805,847,935.69 from CNY 957,834,898.47, showing a reduction of approximately 15.8%[18]. - Inventory levels increased slightly to CNY 822,415,603.50 from CNY 803,187,413.04, indicating a growth of about 2.9%[18]. - Total current assets increased to CNY 3,824,167,356.27 from CNY 3,663,296,110.88, reflecting a growth of approximately 4.4%[18]. - Short-term borrowings surged to CNY 375,280,618.64, up from CNY 129,523,361.86, indicating a substantial increase in leverage[18]. Investments and Projects - The company has invested CNY 7,836.21 million in the relocation and expansion project of its subsidiary, Mianyang Zijiang Electronic Components Co., Ltd., which is progressing as planned[14]. - Hunan Aihua Group holds a 16% stake in Zhejiang Kain Special Paper Co., Ltd., acquired for CNY 1,000.00 million, enhancing its investment portfolio[15]. - The company's long-term equity investments remained stable at CNY 22,854,538.22, reflecting consistent investment strategy[18]. - The company decided not to redeem the "Aihua Convertible Bonds" early, prioritizing investor interests amid current market conditions[15]. Expenses - Research and development expenses for Q1 2023 were CNY 40,573,631.20, slightly down from CNY 42,407,887.57 in Q1 2022, indicating a decrease of about 4%[21]. - Financial expenses increased to CNY 15,767,311.84 in Q1 2023 from CNY 8,695,215.69 in Q1 2022, representing an increase of approximately 81%[21]. - The company reported a decrease in investment income to CNY 6,503,931.35 in Q1 2023 from CNY 15,849,982.25 in Q1 2022, a decline of about 59%[22].