芳源股份(688148) - 2023 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2023 reached ¥803,354,074.25, representing a year-on-year increase of 98.46%[5]. - Total operating revenue for Q1 2023 reached ¥803,354,074.25, a significant increase of 98.5% compared to ¥404,787,086.21 in Q1 2022[22]. - The net profit for Q1 2023 was ¥1,059,758.47, a turnaround from a net loss of ¥2,308,457.45 in Q1 2022[24]. - The net profit attributable to shareholders of the listed company was ¥1,067,447.79, with a significant increase in sales revenue contributing to this growth[5][8]. - The company reported a gross profit margin of approximately 0.13% for Q1 2023, compared to a negative margin in Q1 2022[22]. - Total operating costs for Q1 2023 were ¥802,267,303.01, up 92.5% from ¥416,583,926.87 in Q1 2022[22]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥183,609,481.41, reflecting a decrease of 526.38% due to increased cash payments for raw materials and other expenses[5][8]. - In Q1 2023, the company reported cash inflows from operating activities of CNY 958,114,576.77, a significant increase of 56.4% compared to CNY 612,502,069.41 in Q1 2022[26]. - The net cash outflow from operating activities was CNY -183,609,481.41, contrasting with a net inflow of CNY 43,062,191.17 in the same period last year[26]. - The company reported a net cash decrease of CNY -110,486,172.05 for the quarter, contrasting with a net increase of CNY 100,535,277.19 in Q1 2022[27]. - The ending cash and cash equivalents balance was CNY 502,135,096.19, compared to CNY 329,896,058.92 at the end of Q1 2022, representing a year-over-year increase of 52%[27]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥4,242,273,546.76, showing a slight increase of 0.91% compared to the end of the previous year[6]. - The total assets increased to ¥4,242,273,546.76 in Q1 2023, compared to ¥4,204,038,988.04 in Q1 2022[20]. - Total liabilities amounted to ¥2,715,559,111.67 in Q1 2023, a slight increase from ¥2,688,049,823.95 in Q1 2022[20]. - The total current assets as of March 31, 2023, were RMB 2,779,743,352.89, a decrease from RMB 2,843,097,557.41 at the end of 2022[18]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,593, indicating a stable shareholder base[9]. - The top shareholder, Luo Aiping, holds 76,482,800 shares, representing 14.95% of the total shares[10]. - The company has not disclosed any other significant shareholder relationships or actions beyond those mentioned[12]. Research and Development - The company's R&D investment totaled ¥22,801,527.64, accounting for 2.84% of operating revenue, which is a decrease of 2.56 percentage points year-on-year[6]. - Research and development expenses for Q1 2023 totaled ¥22,801,527.64, slightly up from ¥21,845,657.88 in Q1 2022[22]. Market and Strategic Initiatives - The company is experiencing rapid growth in the power battery industry, leading to increased sales volume and prices[8]. - The company plans to invest up to RMB 2 billion in a lithium iron phosphate battery recycling and cathode material production project to expand its market presence in the new energy sector[15]. - The company has not reported any significant new product developments or market expansion strategies in this quarter[8]. - The company plans to continue focusing on market expansion and new product development in the upcoming quarters[22]. - The company did not report any new product launches or significant market expansion strategies during the quarter[28]. Inventory and Receivables - The company's inventory increased to RMB 1,393,360,150.52 from RMB 1,342,521,619.73 at the end of 2022, indicating a growth of approximately 3.3%[18]. - The company reported accounts receivable of RMB 390,101,110.35, down from RMB 424,862,827.24 at the end of 2022, reflecting a decrease of approximately 8.2%[18]. - The company’s prepayments increased to RMB 131,347,181.74 from RMB 98,430,270.29, showing a growth of approximately 33.4%[18]. Financing Activities - The company experienced cash inflows from financing activities totaling CNY 277,577,097.80, up from CNY 247,858,062.56 in Q1 2022, marking an increase of 12%[27]. - Cash outflows from financing activities were CNY 101,865,586.98, a decrease from CNY 121,409,796.31 in the previous year, indicating a reduction of 16%[27]. - The net cash increase from financing activities was CNY 175,711,510.82, compared to CNY 126,448,266.25 in Q1 2022, reflecting a growth of 39%[27]. Convertible Bonds - The company has not yet converted any of the RMB 64,200,000 of convertible bonds issued, with only 53 shares converted, representing 0.00001% of the total shares before conversion[14]. Government Approvals - The company is awaiting necessary government approvals for the new investment project, which may introduce risks[16].