Forest Packaging(SH:605500)2023-04-24 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 451,926,729.61, representing a decrease of 26.94% compared to the same period last year[5]. - The net profit attributable to shareholders for Q1 2023 was CNY 15,573,546.13, down 55.47% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 56.86% to CNY 14,422,655.71[5]. - Basic earnings per share for Q1 2023 were CNY 0.05, a decrease of 58.33 percentage points year-on-year[6]. - The diluted earnings per share also decreased by 58.33 percentage points to CNY 0.05[6]. - The company reported a total comprehensive income of ¥15,792,023.54 for Q1 2023, down 54.8% from ¥34,934,812.58 in Q1 2022[21]. - The total operating profit was ¥16,585,597.18, down 44.7% from ¥30,004,157.42 in Q1 2022[20]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 6,799,219.63, a decline of 73.31% compared to the previous year[5]. - The cash flow from operating activities showed a net inflow of ¥6,799,219.63, significantly lower than the previous year's ¥25,474,339.74, representing a decline of 73.3%[24]. - The company's cash and cash equivalents stood at RMB 425,825,460.81 as of March 31, 2023, compared to RMB 426,867,319.01 at the end of 2022[15]. - The cash and cash equivalents increased by ¥5,485,980.78 during the quarter, compared to an increase of ¥30,447,411.06 in Q1 2022[24]. Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 2,778,490,901.35, an increase of 0.93% from the end of the previous year[6]. - The total liabilities decreased to RMB 225,740,640.25 in Q1 2023 from RMB 254,863,654.16 in Q1 2022, showing improved financial health[17]. - The total assets as of March 31, 2023, amounted to RMB 2,778,490,901.35, slightly up from RMB 2,752,821,891.72 at the end of 2022[18]. - The company's equity attributable to shareholders increased to RMB 2,357,875,355.88 in Q1 2023 from RMB 2,342,088,321.86 in Q4 2022, indicating growth in shareholder value[18]. Shareholder Information - The equity attributable to shareholders was CNY 2,357,875,355.88, up 0.67% from the end of the previous year[6]. - The total number of ordinary shareholders at the end of the reporting period was 15,896[12]. Cost Management and R&D - Total operating costs for Q1 2023 were RMB 448,358,933.05, down from RMB 622,692,193.82 in Q1 2022, reflecting a cost reduction strategy[19]. - Research and development expenses increased to RMB 24,554,911.61 in Q1 2023, compared to RMB 21,622,743.16 in Q1 2022, indicating a focus on innovation[19]. Profitability Metrics - The weighted average return on equity fell by 56.58 percentage points to 0.66%[6]. - The company reported a net profit margin improvement, with total other income of RMB 15,605,808.05 in Q1 2023 compared to RMB 29,853,619.15 in Q1 2022[19]. - The net profit for Q1 2023 was ¥15,578,535.65, a decrease of 55.4% compared to ¥34,878,709.85 in Q1 2022[20]. Credit and Inventory Management - Accounts receivable decreased to RMB 189,473,295.36 in Q1 2023 from RMB 214,000,846.91 in Q4 2022, indicating improved collection efforts[15]. - Inventory levels were reported at RMB 227,935,812.86, down from RMB 251,623,725.08 in Q4 2022, reflecting better inventory management[16]. - The company incurred a credit impairment loss of ¥892,322.62, compared to ¥2,914,443.60 in the previous year, indicating a reduction of 69.5%[20]. Investment and Financing Activities - The company’s investment activities resulted in a net cash outflow of ¥40,186,468.95, compared to a net outflow of ¥33,632,019.66 in the same period last year[24]. - The company received cash inflows from financing activities totaling ¥39,000,000.00, down 53.6% from ¥84,000,000.00 in Q1 2022[24].