KAN(002012)2023-04-26 16:00Revenue and Profit - Revenue for Q1 2023 was ¥285,349,443.12, a decrease of 9.50% compared to ¥315,298,771.11 in the same period last year[4] - Net profit for Q1 2023 reached ¥49,205,037.29, representing a significant increase of 196.79% from ¥16,579,186.26 year-on-year[4] - Net profit attributable to shareholders was ¥49,389,936.90, up 249.07% from ¥14,149,123.88 in the previous year[4] - Total operating revenue for Q1 2023 was CNY 285,349,443.12, a decrease of 9.4% compared to CNY 315,298,771.11 in Q1 2022[17] - Operating profit reached CNY 49,732,839.45, compared to CNY 18,348,105.86 in the previous year, indicating an increase of about 171.5%[19] - Total comprehensive income for the first quarter was CNY 49,205,037.29, compared to CNY 16,579,186.26 in the previous year, indicating an increase of approximately 196.5%[20] Cash Flow - The company reported a net cash flow from operating activities of ¥96,370,637.36, an increase of 8.24% compared to ¥89,035,715.52 in the same period last year[4] - Net cash flow from operating activities increased by 8.24% to ¥96,370,637.36[8] - Net cash flow from investing activities improved significantly by 310.35% to ¥163,394,653.60, mainly due to the receipt of principal from financial investments[8] - The net cash flow from operating activities was CNY 96,370,637.36, compared to CNY 89,035,715.52 in the previous year, showing an increase of about 8.3%[22] - Investment activities generated a net cash flow of CNY 163,394,653.60, a turnaround from a negative cash flow of CNY -77,676,908.87 in the same period last year[22] Assets and Liabilities - Total assets decreased by 12.35% to ¥2,016,845,632.61 from ¥2,300,903,588.99 at the end of the previous year[4] - Total liabilities decreased to CNY 291,611,331.99 from CNY 586,805,463.60, a significant reduction of 50.3%[16] - The company's total assets decreased to CNY 2,016,845,632.61 from CNY 2,300,903,588.99, a decline of 12.3%[16] - Non-current assets increased to CNY 755,744,359.23 from CNY 716,933,956.21, reflecting a growth of 5.4%[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 36,727[10] - The largest shareholder, Zhejiang Kairong Special Paper Co., Ltd., holds 21.91% of the shares, totaling 102,467,917 shares[10] Expenses - Research and development expenses decreased by 38.90% to ¥16,469,894.84, attributed to the disposal of subsidiaries[8] - The company incurred research and development expenses of CNY 16,469,894.84, compared to CNY 26,957,810.67 in the previous year, showing a decrease of approximately 38.5%[19] - Financial expenses decreased to CNY 1,790,006.93 from CNY 2,624,000.96, representing a reduction of about 31.8%[19] Investments - Long-term equity investments rose by 135.14% to ¥483,141,804.26, attributed to the reclassification of disposed subsidiaries[7] - Investment income surged by 1701.53% to ¥63,792,760.16, resulting from gains from subsidiary disposals[8] Inventory and Receivables - Accounts receivable decreased to CNY 193,256,299.25 from CNY 266,825,259.82, a reduction of 27.6%[12] - Inventory levels decreased significantly to CNY 163,246,149.66 from CNY 332,531,352.13, a decline of 50.9%[15] Corporate Actions - The company completed the transfer of 14.50% of its shares, totaling 67,800,000 shares, to a new controlling shareholder, Kai Rong Paper[11] - The company is in the process of a major asset restructuring, including the sale of stakes in several subsidiaries, which is currently underway[11]