Financial Performance - The company's operating revenue for Q1 2023 decreased by 50.92% to CNY 640,461,204.68 compared to CNY 1,304,890,452.81 in the same period last year[17]. - Net profit attributable to shareholders decreased by 56.63% to CNY 193,740,603.58 from CNY 446,735,755.04 year-on-year[17]. - The total operating revenue for Q1 2023 was ¥640,461,204.68, a decrease of 50.9% compared to ¥1,304,890,452.81 in the same period last year[33]. - Net profit for Q1 2023 was ¥193,740,603.58, a decline of 56.5% compared to ¥446,735,255.30 in Q1 2022[35]. - Total comprehensive income for the first quarter of 2023 was CNY 193,740,603.58, compared to CNY 446,735,755.04 in the previous period[50]. - Basic and diluted earnings per share for the current period were CNY 0.13, down from CNY 0.30 in the previous period[50]. Cash Flow - The net cash flow from operating activities turned negative at CNY -266,356,722.50, a decrease of 155.99% compared to CNY 475,721,387.14 in the previous year[17]. - Net cash flow from operating activities was CNY -266,356,722.50, a decrease from CNY 475,721,387.14 in the previous period[50]. - Cash received from sales of goods and services was CNY 576,472,296.16, down from CNY 1,493,491,059.45 in the previous period[50]. - Total cash outflow from operating activities was CNY 952,679,512.70, compared to CNY 1,114,968,636.06 in the previous period[50]. - Cash paid for purchasing goods and services was CNY 690,628,405.57, an increase from CNY 634,256,093.27 in the previous period[50]. - Cash paid for employee compensation was CNY 127,849,604.38, compared to CNY 122,255,194.71 in the previous period[50]. - Cash inflow from investment activities totaled CNY 270,292,161.98, compared to CNY 2,514,814.83 in the previous period[51]. - Net cash flow from financing activities was CNY 371,665,667.49, an improvement from CNY -27,374,491.93 in the previous period[51]. - The ending balance of cash and cash equivalents was CNY 1,846,867,191.79, compared to CNY 786,481,926.57 at the end of the previous period[51]. Assets and Liabilities - The company’s total assets increased by 4.93% to CNY 11,524,577,869.51 from CNY 10,983,287,664.42 at the end of the previous year[17]. - The total liabilities increased to ¥5,178,168,630.26 in Q1 2023 from ¥4,777,881,590.34 in the previous year, reflecting a growth of 8.4%[33]. - The company’s total liabilities increased to approximately 4.68 billion RMB, up from 4.30 billion RMB, reflecting an increase of about 9%[46]. - The total equity attributable to shareholders of the parent company rose to ¥6,346,409,239.25, up from ¥6,205,406,074.08, indicating an increase of 2.3%[33]. Inventory and Receivables - The company produced 783,500 tons of iron concentrate, a decrease of 12,300 tons year-on-year, primarily due to quality improvement upgrades at the Shujigou Iron Mine[7]. - The average selling price of iron concentrate was CNY 1,028 per ton, down 4% year-on-year, while the average selling price of pellets was CNY 1,116 per ton, down 14.7%[13]. - Accounts receivable increased by 78.09% compared to the end of the previous year, mainly due to an increase in receivables within the credit period[12]. - The company’s inventory of iron concentrate increased by 300,000 tons year-on-year, reaching 410,000 tons at the end of the reporting period[13]. - Accounts receivable increased significantly to approximately 380.83 million RMB, up from 213.84 million RMB, reflecting an increase of about 78%[44]. - The company reported a significant increase in prepayments, which rose to approximately 587.78 million RMB from 68.92 million RMB, marking an increase of over 750%[44]. - The company’s inventory increased to approximately 682.76 million RMB, up from 568.62 million RMB, indicating a rise of about 20%[44]. Investments and Acquisitions - The company plans to invest no less than ¥15.2 billion in the Yangzhong mineral processing and commodity trading base project, which includes a 15 million tons/year throughput terminal and a 6.25 million tons/year ore selection project[41]. - The company acquired 100% equity of Inner Mongolia Jinhui Rare Mineral Co., Ltd[30]. - The company obtained 80% equity and part of the debt of Chenzhou City Chengtai Mining Investment Co., Ltd[29]. - The company acquired 80% of the equity of Chenzhou Chengtai Mining Investment Co., Ltd. for 17 million RMB, securing control over lithium-rich resources in Hunan Province[42]. - The company completed the acquisition of 100% of Inner Mongolia Jinhui Rare Minerals Co., Ltd. for 1.1 billion RMB, making it a wholly-owned subsidiary[43]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 59,516[23]. - The largest shareholder, Zhongxing Group Co., Ltd, holds 48.38% of the shares[24]. - The actual controllers of the company are Lin Lairong and An Sumei, who collectively hold 100% of the controlling shareholder Zhongxing Group Co., Ltd[24]. - The company issued 15.2 million convertible bonds with a total fundraising amount of RMB 152 million[26]. - The company has repurchased 3,956,762 shares, accounting for 0.26% of the total share capital, with a total transaction amount of ¥52,648,987[40]. - The company plans to repurchase shares using self-owned funds ranging from RMB 200 million to RMB 300 million, with a maximum repurchase price of RMB 20 per share, expecting to buy back 10 million to 15 million shares[27][28]. Research and Development - Research and development expenses for Q1 2023 were ¥20,513,260.42, down 18.5% from ¥25,216,632.57 in the same period last year[33]. - The company is advancing its lithium extraction and processing projects in Linwu County, aligning with its overall strategic goals in the lithium energy sector[42]. - The company plans to proceed with geological exploration and mining rights extension in the Jijiao Mountain area, which is part of its strategic direction in lithium mining[43].
大中矿业(001203) - 2023 Q1 - 季度财报