ZTE(SZ:000063)2023-04-21 16:00Financial Performance - The company's operating revenue for Q1 2023 reached CNY 29,142,882 thousand, representing a 4.34% increase compared to CNY 27,930,271 thousand in Q1 2022[4] - Net profit attributable to shareholders was CNY 2,642,269 thousand, marking a 19.20% increase from CNY 2,216,659 thousand in the same period last year[4] - Basic earnings per share rose to CNY 0.56, up 19.15% from CNY 0.47 in the previous year[4] - The total comprehensive income for Q1 2023 was RMB 2,484,665 thousand, compared to RMB 1,981,965 thousand in Q1 2022, indicating strong overall performance[15] Cash Flow - The net cash flow from operating activities was CNY 2,325,584 thousand, a significant increase of 95.89% compared to CNY 1,187,207 thousand in Q1 2022[4] - The net cash flow from financing activities decreased by 32.46% to CNY 5,516,541 thousand from CNY 8,167,826 thousand year-over-year[9] - In Q1 2023, ZTE Corporation reported cash inflows from operating activities of RMB 36,669,666 thousand, a decrease of 3.7% compared to RMB 38,098,145 thousand in Q1 2022[16] - The net cash flow from investing activities was negative at RMB (5,084,123) thousand, worsening from RMB (4,096,960) thousand in Q1 2022[16] Assets and Liabilities - Total assets as of March 31, 2023, were CNY 183,993,400 thousand, reflecting a 1.68% increase from CNY 180,953,574 thousand at the end of 2022[4] - The total liabilities as of March 31, 2023, were CNY 141,533,786 thousand, compared to CNY 130,338,747 thousand at the end of 2022[13] - The company's long-term equity investments stood at CNY 1,774,272 thousand, down from CNY 17,365,896 thousand year-over-year[13] Equity and Shareholder Information - The company's equity attributable to shareholders increased to CNY 61,166,176 thousand, a 4.31% rise from CNY 58,641,187 thousand at the end of 2022[4] - The weighted average return on equity improved to 4.41%, up 0.20 percentage points from 4.21% in the previous year[4] - The minority shareholders' profit improved significantly, showing an 84.35% increase to a loss of CNY 28,480 thousand from a loss of CNY 182,004 thousand in Q1 2022[9] Expenses - The company reported a significant increase in financial expenses, which rose by 442.03% to CNY (181,535) thousand due to increased net interest income and foreign exchange gains[8] - The company experienced a 687.75% increase in asset impairment losses, totaling CNY (409,273) thousand, primarily due to increased inventory write-downs[8] - Research and development expenses for Q1 2023 amounted to RMB 5,933,282 thousand, significantly higher than RMB 1,514,739 thousand in Q1 2022, reflecting a focus on innovation[15] Inventory and Cash Management - The company's inventory increased to CNY 45,934,056 thousand from CNY 15,162,289 thousand year-over-year[13] - The company's cash and cash equivalents increased to CNY 63,435,639 thousand from CNY 43,466,699 thousand year-over-year[13] - The total cash and cash equivalents at the end of Q1 2023 reached RMB 49,744,372 thousand, up from RMB 44,477,507 thousand at the end of Q1 2022[16]