SIFANG NEW MATERIAL(SH:605122)2023-04-26 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 419,528,058.87, representing a year-on-year increase of 36.43%[5]. - The net profit attributable to shareholders decreased by 57.99% to CNY 13,044,867.09, primarily due to intense competition in the ready-mixed concrete market[5][8]. - Basic and diluted earnings per share both fell by 55.56% to CNY 0.08, reflecting the decline in profit[6][8]. - The net profit for Q1 2023 was CNY 12,631,185.18, a decrease of 61.5% compared to CNY 32,767,589.46 in Q1 2022[24]. - The earnings per share for Q1 2023 were CNY 0.08, down from CNY 0.18 in Q1 2022[25]. - The net profit attributable to the parent company was 13 million RMB, a year-on-year decline of 57.99% due to falling concrete prices and intense market competition[12]. Cash Flow and Liquidity - The net cash flow from operating activities surged by 393.36% to CNY 133,337,503.43, attributed to increased sales collections compared to the same period last year[5][8]. - The cash flow from operating activities in Q1 2023 was CNY 432,708,013.40, compared to CNY 278,104,171.09 in Q1 2022, reflecting a significant increase[28]. - The company's cash and cash equivalents as of March 31, 2023, amounted to 600.80 million RMB, an increase from 512.22 million RMB at the end of 2022[19]. - Total cash and cash equivalents at the end of Q1 2023 amounted to CNY 590,227,348.58, down from CNY 820,918,665.39 at the end of Q1 2022, indicating a decrease of about 28%[30]. - The company reported a net cash outflow from investing activities of CNY -32,308,952.64 in Q1 2023, compared to a net inflow of CNY 75,714,502.58 in Q1 2022[29]. - The cash inflow from financing activities for Q1 2023 was CNY 17,432,389.79, a decrease of approximately 81% from CNY 92,797,494.95 in Q1 2022[30]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,346,802,815.90, a slight decrease of 0.14% from the previous year[6]. - The company's total assets as of Q1 2023 were CNY 4,346,802,815.90, slightly down from CNY 4,352,834,027.86 at the end of the previous quarter[21]. - The total liabilities for Q1 2023 were CNY 2,124,519,294.80, a decrease from CNY 2,143,237,314.50 in the previous quarter[21]. - The total liabilities increased to CNY 1,241,498,224.62 as of March 31, 2023, from CNY 1,217,512,517.80 at the end of 2022, marking an increase of about 2%[34]. - The company's total current assets as of March 31, 2023, were CNY 2,559,861,197.64, an increase from CNY 2,507,211,648.70 at the end of 2022, representing a growth of about 2.1%[32]. Operational Metrics - In Q1 2023, the company produced 1.1566 million cubic meters of ready-mixed concrete, a year-on-year increase of 55.58%[12]. - The increase in revenue was mainly due to the expansion of the consolidation scope with the addition of new subsidiaries in the second half of the previous year[8]. - The average price of ready-mixed concrete (C30 specification) in Chongqing was 350.00 RMB per cubic meter, down 68.33 RMB per cubic meter compared to the same period last year[13]. - The company produced 0.022 million cubic meters of prefabricated concrete components during the reporting period and plans to continue market expansion[15]. - The company is actively participating in the construction of a new airport in Chongqing, following the approval of the site by the Civil Aviation Administration[15]. Research and Development - Research and development expenses for Q1 2023 were CNY 3,294,817.99, an increase from CNY 1,908,369.91 in Q1 2022, indicating a focus on innovation[24]. - Research and development expenses for Q1 2023 were ¥1,307,130.16, slightly up from ¥1,264,147.96 in Q1 2022[35]. Shareholder Information - The company had a total of 16,232 common shareholders at the end of the reporting period[10]. - The equity attributable to shareholders increased by 0.59% to CNY 2,215,962,513.87[6].