2023-04-20 16:00Financial Performance - The company's revenue for Q1 2023 was RMB 3,413,055,191.98, a decrease of 1.90% compared to RMB 3,479,027,465.92 in the same period last year[4] - Net profit attributable to shareholders was RMB 581,909,331.89, representing an increase of 5.17% from RMB 553,293,797.77 year-on-year[4] - Basic and diluted earnings per share increased by 5.08% to RMB 0.62, compared to RMB 0.59 in the same period last year[4] - The company reported a total comprehensive income of RMB 547.85 million, down 8.2% from RMB 596.68 million in the previous year[17] - The gross profit margin for the quarter was approximately 63.1%, compared to 66.1% in the same quarter last year[17] - The company’s financial expenses showed a significant improvement, with a net financial income of RMB 8.75 million compared to a loss of RMB 37.93 million in Q1 2022[17] Cash Flow - The net cash flow from operating activities decreased by 57.80% to RMB 299,784,593.85, down from RMB 710,308,938.96 in the previous year[4] - The net cash flow from operating activities was RMB 299.78 million, a significant decrease of 57.8% compared to RMB 710.31 million in Q1 2022[18] - Cash inflows from financing activities decreased by 36.98% to RMB 1,070,315,870.74, mainly due to a reduction in borrowings compared to the previous period[9] - Cash outflows from financing activities decreased by 43.97% to RMB 753,630,238.36, primarily due to lower loan repayments[9] - The net increase in cash and cash equivalents decreased by 36.83% to RMB 527,826,015.13, mainly due to increased raw material procurement costs affecting daily operational cash flow[9] Assets and Liabilities - Total assets at the end of the reporting period were RMB 25,620,821,364.99, an increase of 3.04% from RMB 24,864,825,366.23 at the end of the previous year[4] - Total current assets increased to RMB 17,868,009,401.34 from RMB 16,987,297,040.38, representing a growth of approximately 5.17%[15] - Total liabilities increased to RMB 10,204,667,286.46 from RMB 9,928,573,774.51, marking an increase of about 2.78%[16] - Short-term borrowings rose to RMB 1,800,000,000.00 from RMB 1,622,239,859.89, an increase of approximately 11.00%[16] - Long-term borrowings increased to RMB 2,225,976,993.70 from RMB 1,974,444,042.88, representing a growth of about 12.74%[16] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 56,429, with the largest shareholder holding 33.09% of the shares[10] - The company repurchased a total of 5,232,048 A shares, accounting for 0.56% of the total share capital, with a total expenditure of RMB 177,765,444.64[13] - The highest and lowest prices for the repurchased shares were RMB 35.50 and RMB 32.25 per share, respectively[13] Research and Development - Research and development expenses amounted to RMB 311.41 million, up 8.0% from RMB 288.33 million in Q1 2022[17] - The company reported a significant decrease in development expenses by 53.43% to RMB 125,253,323.41, primarily due to the approval of a new product[7] Government Subsidies - The company reported a total of RMB 40,295,342.15 in government subsidies recognized in the current period[5] Inventory and Cash Equivalents - Cash and cash equivalents rose to RMB 10,868,918,125.10, up from RMB 10,411,348,410.09, an increase of about 4.39%[15] - Inventory increased to RMB 2,238,022,180.23 from RMB 2,045,341,552.12, reflecting a growth of approximately 9.4%[15] - The company's cash and cash equivalents accounted for approximately 60.8% of total current assets[15] Financial Liabilities - The company experienced a 478.94% increase in trading financial liabilities, reaching RMB 4,110,695.40, mainly due to changes in forward foreign exchange contracts[7] Exchange Rate Impact - The impact of exchange rate changes on cash and cash equivalents worsened by 147.55%, resulting in a loss of RMB 23,818,029.01 from foreign currency holdings[9] Audit Information - The company did not conduct an audit for the Q1 2023 report[19]