Jinhong (SZ:000669)2023-04-28 16:00Financial Performance - The company's revenue for Q1 2023 was ¥343,764,160.37, a decrease of 17.40% compared to ¥416,174,260.79 in the same period last year[5] - The net loss attributable to shareholders was ¥9,762,168.02, representing a 61.38% increase in losses from ¥6,049,341.74 year-on-year[5] - The company's basic and diluted earnings per share were both -¥0.0143, a decline of 60.67% from -¥0.0089 in the previous year[5] - The net profit for Q1 2023 was -21,947,149.05 CNY, compared to -3,572,002.44 CNY in the same period last year, indicating a significant decline in profitability[27] - Operating profit for Q1 2023 was -21,597,096.64 CNY, a decrease from 19,663,138.44 CNY in Q1 2022[27] - The total comprehensive income for Q1 2023 was -21,947,149.05 CNY, down from -3,572,002.44 CNY in Q1 2022[27] Cash Flow and Assets - The net cash flow from operating activities increased by 5.99% to ¥117,987,363.08, up from ¥111,314,304.71 in the previous year[5] - Current assets totaled CNY 540,933,125.45, a marginal increase from CNY 537,314,365.89 at the beginning of the year[22] - The company’s cash and cash equivalents rose to CNY 80,342,723.04 from CNY 59,412,448.72, marking an increase of 35.2%[22] - The cash and cash equivalents at the end of the period stood at 76,322,535.31 CNY, an increase from 41,390,763.28 CNY at the end of the previous year[29] Liabilities and Equity - The company's total assets at the end of the reporting period were ¥2,882,510,076.32, a slight decrease of 0.46% from ¥2,895,870,744.79 at the end of the previous year[5] - The total equity attributable to shareholders decreased by 1.84% to ¥457,843,334.03 from ¥466,419,828.52 at the end of the previous year[5] - Total liabilities increased slightly to CNY 2,298,354,491.94 from CNY 2,293,788,995.16, reflecting a growth of 0.2%[24] Research and Development - Research and development expenses rose by 53.72% to ¥4,518,512.30, compared to ¥2,939,518.71 in the same period last year, indicating increased investment in innovation[8] - Research and development expenses increased to CNY 4,518,512.30, up from CNY 2,939,518.71, representing a growth of 53.7%[25] Debt and Repayment - As of March 31, 2023, the company has repaid a total of RMB 39,175,418.32 in convertible bond debts, including RMB 22,537,608.00 in principal and RMB 16,637,810.32 in interest[12] - The company has completed the repayment of 100% of the principal for holders who chose the one-time payment option (60% of the bond value) and has paid the first and second installments of principal and interest for all holders who opted for the extension repayment plan[15] - The company has signed debt repayment agreements with all holders of the "15 Jinhong Bonds," with 37.596% choosing the one-time payment option and 58.029% opting for the extension repayment plan[15] - The company has actively communicated with creditors to resolve debt issues and has been disposing of assets and introducing strategic investors to raise funds[12] - The company has faced substantial defaults on its "16 Zhongyou Jinhong Energy Investment Co., Ltd. 2016 First Phase Medium-Term Notes" due to cash flow difficulties[16] Other Financial Metrics - Total operating revenue for the first quarter was CNY 343,764,160.37, a decrease of 17.4% compared to CNY 416,174,260.79 in the previous period[25] - Total operating costs amounted to CNY 369,531,355.03, down from CNY 403,600,101.10, reflecting a reduction of 8.4%[25] - The company reported a significant decrease in investment income, down 62.91% to ¥806,360.60 from ¥2,173,898.47 in the previous year[8] - Cash flow from investing activities resulted in a net outflow of -13,760,440.75 CNY, an improvement from -84,190,459.28 CNY in the same quarter last year[29] - Cash flow from financing activities showed a net outflow of -82,153,704.73 CNY, slightly better than -84,163,181.63 CNY in Q1 2022[29] Governance - The company has undergone a board restructuring, electing new directors and independent directors to ensure governance continuity[19]