MAE(SZ:002009)2023-04-24 16:00Financial Performance - The company's revenue for Q1 2023 was ¥748.66 million, a decrease of 20.66% compared to ¥943.61 million in the same period last year[5]. - The net profit attributable to shareholders was -¥298.84 million, representing a decline of 435.31% from a profit of ¥89.13 million in the previous year[5]. - The total profit for the first quarter was approximately -¥300.03 million, a decline of 400.63% compared to the same period last year, primarily due to a significant drop in lithium battery product prices[16]. - The net profit attributable to the parent company for Q1 2023 was -298,843,871.04 CNY, compared to a profit of 89,125,157.32 CNY in the same period last year[26]. - Basic and diluted earnings per share for Q1 2023 were both -0.81 CNY, compared to 0.24 CNY in Q1 2022[26]. Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥33.28 million, a significant increase of 131.29% compared to -¥106.36 million in Q1 2022[5]. - The net cash flow from investing activities was approximately ¥94.11 million, a turnaround from a negative cash flow of ¥120.99 million in the previous year, mainly due to the maturity of structured deposits[16]. - The net increase in cash and cash equivalents was approximately ¥177.30 million, a significant improvement of 223.99% compared to the previous year[16]. - Cash inflow from operating activities totaled 868,473,545.77 CNY, while cash outflow was 835,194,723.84 CNY[29]. - Cash and cash equivalents at the end of Q1 2023 amounted to 672,859,670.92 CNY, up from 437,621,287.88 CNY at the end of Q1 2022[29]. Revenue Breakdown - The smart equipment segment generated revenue of ¥245.41 million, accounting for 32.78% of total revenue, with a backlog of orders worth ¥1.63 billion[7]. - The lithium battery recycling business reported revenue of ¥263.84 million, making up 35.24% of total revenue, affected by a significant drop in raw material prices[8]. - The heavy machinery segment achieved revenue of ¥167.38 million, a year-on-year increase of 27%, benefiting from a recovery in the wind power industry[12]. Assets and Liabilities - The total assets at the end of the reporting period were ¥6.67 billion, down 8.12% from ¥7.26 billion at the end of the previous year[5]. - Current assets totaled CNY 4,220,516,830.58, down from CNY 4,843,979,103.85 at the start of the year, reflecting a decline of 12.87%[24]. - Total liabilities decreased to CNY 4,651,114,645.41 from CNY 4,958,934,423.69, indicating a reduction of 6.17%[24]. - Long-term borrowings increased by 31.61% to approximately ¥665.91 million, mainly due to new long-term project loans obtained during the reporting period[15]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 44,173[18]. - The largest shareholder, Huang Weixing, holds 16.39% of shares, amounting to 62,389,317 shares, with 31,000,000 shares pledged[18]. - Wuxi Tianqi Investment Holding Co., Ltd. holds 11.15% of shares, totaling 42,465,172 shares, with 20,200,000 shares pledged[18]. - As of the end of the reporting period, shareholder Cheng Yongfeng reduced holdings by 153,800 shares, while shareholder Wang Aijun's holdings remained unchanged[18]. Strategic Initiatives - The company plans to enhance inventory turnover and maintain a stable inventory management strategy to improve operational efficiency[10]. - The company is focusing on building a lithium battery recycling ecosystem by collaborating with various stakeholders in the industry[10]. - The company plans to establish a joint venture with Honeycomb Energy Technology Co., Ltd. for a lithium battery recycling project in Jiangxi Province, with a registered capital of RMB 136.5984 million, where the company will invest RMB 66.933216 million for a 49% stake[20]. - A strategic cooperation framework agreement has been signed with China Chengtong Eco Co., Ltd. to collaborate on battery recycling and management systems[21]. - The company signed a memorandum with Stellantis Group to explore cooperation in the automotive recycling industry, including battery remanufacturing and recycling[21]. Operational Efficiency - The company reported a significant increase in accounts receivable, totaling CNY 938,037,154.98, down from CNY 1,227,573,803.48, a decline of 23.6%[24]. - Research and development expenses for Q1 2023 were CNY 31,971,070.16, down from CNY 38,317,237.79 in the previous year, a decrease of 16.25%[25]. - Trading financial assets decreased by 63.68% to approximately ¥58.96 million due to the maturity of structured deposits during the reporting period[15]. - Accounts receivable financing dropped by 48.36% to approximately ¥94.08 million, primarily due to the endorsement of bills for payment[15]. - Contract liabilities increased by 35.94% to approximately ¥213.49 million, mainly due to an increase in advance payments received during the reporting period[15].