HWPC(SH:688799)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 357,267,198, representing a year-on-year increase of 22.36%[5] - The net profit attributable to shareholders was CNY 49,262,935, reflecting a growth of 44.50% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 50.53%, amounting to CNY 44,155,061[5] - Basic and diluted earnings per share were both CNY 0.53, an increase of 47.22% year-on-year[6] - The net profit for Q1 2023 was CNY 44,684,428.86, an increase of 31% compared to CNY 34,091,332.01 in Q1 2022[20] - The total comprehensive income for Q1 2023 was CNY 44,684,428.86, compared to CNY 34,091,332.01 in Q1 2022, indicating a growth of approximately 31%[20] Cash Flow and Liquidity - The net cash flow from operating activities surged by 359.15%, reaching CNY 66,369,915.64, primarily due to increased cash receipts from sales[6] - The cash flow from operating activities generated a net amount of CNY 66,369,915.64, significantly higher than CNY 14,455,015.98 in Q1 2022[23] - Cash and cash equivalents increased to CNY 338.86 million from CNY 191.29 million, representing a growth of 77.3%[15] - The cash and cash equivalents at the end of Q1 2023 totaled CNY 314,430,468.61, slightly down from CNY 316,331,068.39 at the end of Q1 2022[24] - The net cash flow from investing activities was CNY 72,416,359.72, a turnaround from a negative cash flow of CNY -30,164,830.52 in Q1 2022[23] Research and Development - The total R&D expenditure was CNY 30,427,457.61, which is 8.52% of operating revenue, marking an increase of 2.86 percentage points[6] - R&D expenses in Q1 2023 were CNY 30.43 million, significantly higher than CNY 16.51 million in Q1 2022, indicating a 84.5% increase[18] - The company is actively pursuing market expansion and product development strategies, as indicated by the increase in R&D investment[9] - The company continues to focus on expanding its product offerings and enhancing R&D capabilities to drive future growth[14] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,048,911,028.23, a 1.99% increase from the previous year[6] - The company's total assets as of March 31, 2023, were CNY 2,048.91 million, compared to CNY 2,008.97 million at the end of 2022, showing a growth of 1.99%[16] - The total liabilities decreased slightly to CNY 345.60 million from CNY 350.35 million, a reduction of 1.1%[17] Sales and Revenue Breakdown - In Q1 2023, the company's formulation product revenue reached CNY 275.58 million, a year-on-year increase of 15.77%[14] - Raw materials and intermediates revenue was CNY 65.26 million, reflecting a year-on-year growth of 25.21%[14] - The total revenue from operating activities was CNY 335,415,818.67, up from CNY 281,023,993.51 in the same period last year, representing an increase of approximately 19.3%[22] - The company reported a significant increase in sales revenue, which contributed to the reduction in sales expense ratio[9] Operating Costs and Profitability - Total operating costs for Q1 2023 amounted to CNY 307.62 million, up from CNY 255.64 million in the same period last year[18] - The operating profit for Q1 2023 was CNY 53,523,629.70, compared to CNY 39,944,096.41 in Q1 2022, reflecting a growth of about 34%[20] - The weighted average return on equity was 3.04%, up by 0.76 percentage points[6] - The company incurred a credit impairment loss of CNY 188,572.30, compared to a loss of CNY 601,270.11 in the previous year[20]