North Industries (SZ:000519)2023-04-24 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥776,168,384.52, a decrease of 43.83% compared to ¥1,381,837,306.25 in the same period last year[3]. - The net profit attributable to shareholders was a loss of ¥34,282,587.36, representing a decline of 112.18% from a profit of ¥281,495,645.68 in the previous year[3]. - The net cash flow from operating activities was -¥710,417,398.52, worsening by 27.27% compared to -¥558,198,348.95 in the same period last year[3]. - The total operating revenue for Q1 2023 was RMB 776,168,384.52, a decrease of approximately 43.7% compared to RMB 1,381,837,306.25 in the same period last year[12]. - The total operating costs for Q1 2023 were RMB 794,280,580.74, down from RMB 1,049,606,808.52 in the previous year, reflecting a reduction of about 24.3%[12]. - The gross profit margin for Q1 2023 was approximately -2.0%, compared to a positive margin in the previous year, indicating a challenging cost environment[12]. - The net profit for Q1 2023 was -34,282,587.36 CNY, compared to a net profit of 281,495,645.68 CNY in the same period last year, representing a significant decline[13]. - Operating profit for Q1 2023 was -16,880,924.56 CNY, down from 333,760,834.91 CNY in Q1 2022[13]. - Total revenue from operating activities decreased to 624,204,602.50 CNY in Q1 2023, compared to 808,965,854.40 CNY in Q1 2022, reflecting a decline of approximately 22.7%[15]. - The total comprehensive income for Q1 2023 was -34,283,087.36 CNY, compared to 281,495,645.68 CNY in Q1 2022[14]. Cash Flow and Assets - Cash and cash equivalents at the end of Q1 2023 amounted to RMB 5,843,370,564.11, down from RMB 6,623,861,044.56 at the beginning of the year, representing a decrease of about 11.7%[9]. - The total assets as of March 31, 2023, were RMB 14,381,764,274.16, a decline from RMB 15,003,191,748.13 at the beginning of the year, indicating a decrease of approximately 4.1%[11]. - The total liabilities decreased to RMB 4,659,123,945.54 from RMB 5,251,447,270.25, reflecting a reduction of about 11.2%[11]. - The company’s total equity as of March 31, 2023, was RMB 9,722,640,328.62, a slight decrease from RMB 9,751,744,477.88 at the beginning of the year, indicating a reduction of about 0.3%[11]. - Cash flow from operating activities was -710,417,398.52 CNY in Q1 2023, worsening from -558,198,348.95 CNY in the previous year[15]. - Cash flow from investing activities showed a net outflow of -233,344,101.71 CNY, compared to -198,693,207.35 CNY in Q1 2022[16]. - The cash and cash equivalents at the end of Q1 2023 were 5,814,951,509.11 CNY, a decrease from 5,585,318,075.26 CNY at the end of Q1 2022[16]. Expenses and Shareholder Information - The company's sales expenses decreased by 47.61% due to a reduction in sales-related expenditures[6]. - The management expenses increased by 30.09%, primarily due to higher repair costs[6]. - Research and development expenses for Q1 2023 were RMB 88,846,366.97, an increase of approximately 24.3% compared to RMB 71,532,397.73 in the previous year[12]. - The total number of ordinary shareholders at the end of the reporting period was 190,026[7]. Borrowings and Financial Assets - The net cash flow from financing activities increased by 2260.62%, driven by an increase in external borrowings[6]. - Short-term borrowings increased to RMB 255,000,000.00 from RMB 90,000,000.00, reflecting a significant rise of approximately 183.3%[10]. - The company reported a 140.45% increase in trading financial assets compared to the beginning of the year, attributed to investments in financial products using idle funds[5]. Earnings Per Share and Impairment Loss - The company reported a basic earnings per share of -0.0246 CNY for Q1 2023, down from 0.2021 CNY in the same period last year[14]. - The company incurred a credit impairment loss of 9,908.93 CNY in Q1 2023, compared to 117,506.65 CNY in the same period last year[13]. Audit Information - The company did not conduct an audit for the Q1 2023 report[17].