HIGHLY(SH:900910)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 4,301,581,107.48, representing a decrease of 0.41% compared to the same period last year[5]. - The net profit attributable to shareholders of the listed company was a loss of CNY 27,316,400.12, reflecting a decline of 164.25% year-on-year[5]. - The basic earnings per share for the period was -CNY 0.03, a decrease of 175.00% compared to the same period last year[5]. - The weighted average return on net assets was -0.45%, a decrease of 1.13 percentage points year-on-year[5]. - The net profit for Q1 2023 was a loss of approximately ¥60.68 million, compared to a profit of ¥22.55 million in Q1 2022[20]. - The company reported a total comprehensive loss of approximately ¥59.33 million in Q1 2023, compared to a loss of ¥4.53 million in Q1 2022[21]. - The net profit attributable to the parent company decreased to RMB 1,196,645,049.86 from RMB 1,223,961,449.98 year-on-year[17]. Cash Flow - The net cash flow from operating activities was a negative CNY 365,165,733.65, indicating a significant cash outflow[5]. - The net cash flow from operating activities for Q1 2023 was -66,206,775.78, a significant decline from 210,373,121.20 in Q1 2022[32]. - The company's cash and cash equivalents decreased to RMB 2,587,060,152.04 from RMB 3,342,532,124.18 year-on-year[14]. - Cash inflow from investment activities totaled 466,731,010.62, compared to 508,736,466.68 in the same period last year[33]. - The net cash flow from investment activities increased to 347,834,883.02, up from 129,714,749.18 in Q1 2022[33]. - The net cash flow from financing activities was -844,542,443.48, an improvement from -1,067,114,519.88 in Q1 2022[33]. - The ending balance of cash and cash equivalents was 1,062,496,752.59, down from 1,824,820,856.32 in Q1 2022[33]. Assets and Liabilities - Total assets at the end of Q1 2023 amounted to CNY 21,153,419,926.03, an increase of 4.66% from the end of the previous year[6]. - The total current liabilities increased to RMB 10,575,143,404.75 from RMB 10,259,748,731.19 year-on-year[16]. - The total non-current liabilities rose to RMB 3,249,890,693.25 from RMB 2,566,120,926.75 year-on-year[16]. - The total assets as of March 31, 2023, amounted to CNY 9,343,169,474.07, down from CNY 9,855,599,075.18 at the end of 2022[27]. - The total liabilities decreased to CNY 3,924,978,512.53 from CNY 4,453,436,524.39 at the end of 2022, indicating a reduction of approximately 11.8%[27]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 50,541[10]. - The largest shareholder, Shanghai Electric Holding Group Co., Ltd., holds 26.16% of the shares[11]. Operational Performance - The sales volume of rotary compressors increased by 8.4% year-on-year, while the sales of electric compressors for new energy vehicles grew by 25.9% year-on-year, aligning with industry trends[13]. - The company is currently in the integration phase of its subsidiary, which has impacted its performance expectations[8]. - The company is facing challenges in profitability due to the underperformance of the Haili Marelli business amid a sluggish vehicle market[13]. - The company is accelerating the integration of the acquired Haili Marelli business to enhance profitability, while also expanding its automotive parts market[13]. - The company secured new model designations for its electric compressors from clients such as Geely, Great Wall, Dongfeng Nissan, and Dongfeng Lantu during the reporting period[13]. Research and Development - R&D expenses increased to approximately ¥179.35 million in Q1 2023, up 4.1% from ¥171.25 million in Q1 2022[20]. - The company's research and development expenses for Q1 2023 were CNY 446,018.97, reflecting ongoing investment in innovation[29]. - The company plans to continue focusing on market expansion and new product development as part of its strategic initiatives moving forward[30]. Financial Ratios and Expenses - The company's financial expenses increased to CNY 10,412,351.20 in Q1 2023 from CNY 6,283,207.74 in Q1 2022, marking a rise of 66.1%[29].