INTCO RECYCLING(SH:688087)2023-04-27 16:00Financial Performance - The company achieved operating revenue of ¥516,660,915.18, representing a year-on-year increase of 2.48% and a quarter-on-quarter increase of 8.22%[10]. - Net profit attributable to shareholders decreased by 76.19% to ¥11,675,116.22, while net profit excluding non-recurring items fell by 79.99% to ¥10,103,530.71[9][11]. - The total operating revenue for Q1 2023 was CNY 516,660,915.18, an increase of 2.9% compared to CNY 504,139,340.87 in Q1 2022[26]. - The net profit for Q1 2023 was CNY 11,675,116.22, a decrease of 76.2% from CNY 49,035,305.19 in Q1 2022[28]. - The operating profit for Q1 2023 was CNY 14,816,579.20, down 73.0% from CNY 54,919,765.17 in Q1 2022[27]. - The basic and diluted earnings per share for Q1 2023 were both CNY 0.09, down from CNY 0.37 in Q1 2022[28]. Cash Flow and Liquidity - The company’s cash flow from operating activities was ¥55,624,483.31, reflecting a decrease of 3.78%[9]. - The cash flow from operating activities for Q1 2023 was CNY 55,624,483.31, a decrease of 3.8% compared to CNY 57,809,592.13 in Q1 2022[31]. - The company's cash and cash equivalents amounted to RMB 1,071,540,375.63, up from RMB 755,609,133.24, indicating a significant increase of about 42%[23]. - The net cash increase in cash and cash equivalents for Q1 2023 was $315,931,242.39, compared to $23,461,772.66 in Q1 2022[33]. - The total cash and cash equivalents at the end of Q1 2023 reached $1,071,540,375.63, up from $581,458,223.58 in the same period last year[33]. - The net cash flow from financing activities was $329,718,352.46, significantly higher than $81,907,609.22 in Q1 2022[33]. - The cash outflow for debt repayment was $64,133,243.47, which increased from $8,159,403.60 in Q1 2022[33]. Assets and Liabilities - Total assets increased by 11.35% to ¥3,252,246,267.13 compared to the end of the previous year[10]. - The total liabilities increased to RMB 1,064,078,025.05 from RMB 738,013,912.14, reflecting a growth of about 44.14%[24]. - The total liabilities as of Q1 2023 were CNY 1,167,293,317.18, an increase of 38.5% from CNY 843,254,594.15 in Q1 2022[25]. - The company reported a total non-current asset value of RMB 1,445,653,258.70, slightly up from RMB 1,432,757,822.08, indicating a growth of approximately 0.89%[24]. Research and Development - The company’s R&D investment totaled ¥22,317,879.90, accounting for 4.32% of operating revenue, a decrease of 0.57 percentage points compared to the previous year[10]. - The research and development expenses for Q1 2023 were CNY 22,317,879.90, a decrease of 9.0% from CNY 24,643,972.90 in Q1 2022[27]. Market and Strategic Focus - The company plans to focus on lean improvement and innovation to enhance production efficiency and reduce fixed manufacturing costs[11]. - The company is focusing on the development of recycled plastics, which aligns with global sustainability trends and may enhance its competitive edge in the market[20]. - The company has established a global marketing network for recycled plastics, which is expected to reduce trade barriers and enhance product competitiveness[20]. - The company is closely monitoring the EU's anti-dumping investigations and carbon border adjustment mechanisms, which could impact its operations and market strategies[20]. Inventory and Receivables - Accounts receivable increased to RMB 253,931,867.80 from RMB 230,963,636.30, representing an increase of approximately 9.93%[23]. - The company's inventory decreased to RMB 286,555,303.28 from RMB 322,623,331.15, showing a decline of about 11.19%[23]. Other Comprehensive Income - The other comprehensive income after tax for Q1 2023 was CNY -7,331,240.54, compared to CNY -5,223,302.58 in Q1 2022[28]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 4,609[16]. - The total equity attributable to shareholders as of Q1 2023 was CNY 2,084,952,949.95, up from CNY 2,077,427,009.56 in Q1 2022[25].