*ST新联(000620) - 2023 Q1 - 季度财报

Financial Performance - Total operating revenue for Q1 2023 was ¥490,848,737.55, a decrease of 19.3% compared to ¥608,843,902.91 in the same period last year[14]. - The company reported a net loss of ¥4,526,074,393.54 for Q1 2023, compared to a net loss of ¥3,557,782,590.14 in the previous year[13]. - Total comprehensive income for the period was -987,743,529.93, compared to -429,849,674.43 in the previous period, reflecting increased losses[20]. - Net loss attributable to shareholders for Q1 2023 was ¥968,291,803.40, representing a 116.05% increase in losses from ¥448,174,493.63 in the previous year[34]. - The company reported an investment loss of ¥108,623,313.45 in Q1 2023, contrasting with an investment gain of ¥88,991,676.65 in the same period last year[14]. Assets and Liabilities - The company reported a total current assets of CNY 20,707,779,801.11 as of the end of the quarter, a decrease of 1.15% from CNY 20,948,689,170.09 at the beginning of the year[7]. - Total assets decreased to ¥37,884,343,823.86 from ¥39,315,305,079.29 year-over-year[13]. - Total liabilities increased to ¥37,963,401,695.60 from ¥38,470,781,302.31 year-over-year[13]. - The company’s total equity decreased to -¥79,057,871.74 from ¥844,523,776.98 year-over-year[13]. - Shareholders' equity attributable to the parent company decreased to -¥1,610,100,540.83, a decline of 116.99% from -¥742,017,916.61 at the end of the previous year[34]. Cash Flow - Cash flow from operating activities generated a net amount of 311,819,916.71, a recovery from a negative cash flow of -12,350,089.26 in the previous period[21]. - Cash flow from investing activities resulted in a net outflow of -18,920,515.49, compared to -5,005,272.67 in the previous period, indicating increased investment losses[24]. - Cash flow from financing activities showed a net outflow of -326,567,405.51, compared to -167,189,180.68 in the previous period, reflecting higher debt repayments[24]. - The ending cash and cash equivalents balance was 636,805,059.66, down from 853,328,262.78 in the previous period[24]. Receivables and Inventory - Accounts receivable dropped significantly to CNY 257,960,733.55, down 38.54% from CNY 419,649,955.31[7]. - Inventory increased to CNY 16,794,272,642.89 from CNY 16,578,711,517.78, showing a growth of 1.30%[7]. - Other receivables rose to CNY 975,583,409.57 from CNY 933,928,848.20, marking an increase of 4.45%[7]. Financial Challenges and Strategic Actions - The company has a debt dispute with Huarong Asset involving a total debt principal of CNY 880 million, with a court execution notice received for CNY 906.9867 million including overdue payments[2]. - The company plans to apply for reorganization due to an inability to repay due debts, indicating a critical financial situation[6]. - The company is undergoing a judicial auction process for shares held by a subsidiary, with the auction price reaching CNY 1,005,668,141.72[5]. - The company has initiated a strategic review of its operations and financial structure in light of ongoing financial challenges[6]. - The company’s total liabilities and equity will be further assessed in the upcoming shareholder meeting to address the restructuring proposal[6]. Financial Ratios and Expenses - The company’s financial expenses rose significantly to ¥477,041,159.11 from ¥340,998,655.89 in the previous year[14]. - The company experienced a significant increase in credit impairment losses, totaling -21,033,818.50, compared to -10,371,575.71 in the previous period[17]. - The company reported a significant increase in financial expenses by 39.90% to ¥477,041,159.11, primarily due to penalties incurred during the period[38]. - The company experienced a 2054.90% increase in other operating expenses, amounting to ¥68,048,364.49, attributed to increased late fees[38].