振华新材(688707) - 2023 Q1 - 季度财报

Financial Performance - The net profit attributable to shareholders of the listed company decreased by 79.37% during the reporting period due to a decline in upstream lithium salt market prices[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses also fell by 78.85%, as downstream customers adjusted their procurement of cathode materials to optimize inventory costs[14]. - Basic earnings per share decreased by 79.37% in the reporting period, reflecting a drop in product sales[14]. - Net profit attributable to shareholders for Q1 2023 was CNY 70,641,478.89, down 79.37% from the previous year[32]. - Basic earnings per share for Q1 2023 was CNY 0.1595, reflecting a decrease of 79.37% year-over-year[32]. - Net profit for the period was 70,641,478.89, compared to 342,439,942.24 in the previous period, indicating a significant decrease[48]. - Basic and diluted earnings per share were both 0.1595, down from 0.7731 in the previous period[48]. - The total comprehensive income attributable to the parent company was 70,641,478.89, a decrease from 342,439,942.24[48]. Assets and Liabilities - The total non-current assets amounted to approximately RMB 3.02 billion, an increase from RMB 2.88 billion in the previous period[22]. - The total assets of the company were approximately RMB 10.20 billion, down from RMB 11.07 billion in the previous period[23]. - The total liabilities decreased to approximately RMB 6.04 billion from RMB 6.98 billion in the previous period[23]. - Total assets at the end of Q1 2023 were CNY 10,200,149,004.30, down 7.87% from CNY 11,071,740,496.25 at the end of the previous year[33]. - The total current assets as of March 31, 2023, are RMB 7,177,479,216.28, down from RMB 8,194,719,827.31 at the end of 2022[41]. - Cash and cash equivalents at the end of Q1 2023 amounted to CNY 856,518,197.42, down from CNY 901,387,716.98 at the end of the previous year[30]. - The company's cash and cash equivalents as of March 31, 2023, amount to RMB 990,542,476.47, a decrease from RMB 1,899,131,035.92 at the end of 2022[41]. - Accounts receivable decreased to RMB 1,209,496,467.84 from RMB 1,566,769,750.87 year-over-year[41]. - Inventory increased to RMB 2,074,752,879.83 from RMB 1,825,297,355.36 year-over-year[41]. - Long-term equity investments increased to RMB 61,653,177.43 from RMB 56,398,788.47 year-over-year[41]. - Fixed assets remained stable at RMB 2,367,065,666.67 compared to RMB 2,367,042,668.20 at the end of 2022[41]. Revenue and Costs - Total operating revenue for Q1 2023 was CNY 2,006,164,565.53, a decrease of 22.21% compared to CNY 2,579,080,055.70 in Q1 2022[25]. - The company reported a total operating cost of CNY 1,891,010,544.53 for Q1 2023, compared to CNY 2,194,293,593.39 in Q1 2022[25]. - Research and development expenses totaled CNY 37,300,068.68, a decrease of 39.05% compared to the previous year[32]. - Net cash flow from operating activities for Q1 2023 was -CNY 777,647,036.07, indicating a significant cash outflow[29]. - The company experienced a net cash outflow from investing activities of -CNY 111,717,116.58 in Q1 2023[30]. Business Development - The company has established comprehensive and deep cooperation with leading domestic cell customers for its sodium-ion battery cathode materials, achieving sales of several tons during the reporting period[17]. - The company has laid out corresponding patents and core technologies for sodium-ion batteries, ensuring independent control for future business development[17]. - The company has cumulatively sold tens of tons of sodium-ion battery cathode materials[38]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 17,200[36]. - The largest shareholder, China Zhinhua Electronics Group Co., Ltd., holds 125,380,000 shares, accounting for 28.31% of total shares[36]. Other Financial Information - The company reported a government subsidy of RMB 1.95 million, which is closely related to its normal business operations[5]. - The company recorded a loss of RMB 2.22 million from the disposal of non-current assets during the reporting period[5]. - The weighted average return on net assets for Q1 2023 was 1.71%, a decrease of 9.34 percentage points compared to the previous year[32]. - The company has no known related party transactions or concerted actions among the top shareholders[37].