兴化股份(002109) - 2023 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2023 was ¥630,858,656.52, a decrease of 32.84% compared to ¥939,299,919.78 in the same period last year[5] - The net profit attributable to shareholders was -¥114,957,597.71, representing a decline of 149.84% from ¥230,675,809.42 in the previous year[5] - The net cash flow from operating activities was -¥85,718,918.55, down 136.13% from ¥237,270,036.75 in Q1 2022[5] - The basic and diluted earnings per share were both -¥0.1092, down 149.84% from ¥0.2191 in Q1 2022[5] - The net profit for Q1 2023 was -113,633,887.71 CNY, compared to a net profit of 230,126,232.63 CNY in the same period last year, indicating a significant decline[24] - The operating profit for the quarter was -111,517,796.30 CNY, down from 272,863,330.48 CNY year-over-year[24] - The total comprehensive income for the period was -113,633,887.71 CNY, compared to 230,126,232.63 CNY in the previous year[25] - Cash flow from operating activities showed a net outflow of -85,718,918.55 CNY, a decrease from a net inflow of 237,270,036.75 CNY in the previous year[28] - Cash flow from investing activities resulted in a net outflow of -1,047,321,639.42 CNY, compared to -287,525,225.28 CNY in the same period last year[28] - Cash flow from financing activities generated a net inflow of 90,232,860.87 CNY, down from 277,576,814.48 CNY in the previous year[28] Assets and Liabilities - Total assets at the end of Q1 2023 were ¥11,272,859,488.02, a decrease of 6.14% from ¥12,010,445,442.15 at the end of the previous year[5] - The equity attributable to shareholders decreased by 19.86% to ¥4,482,329,279.15 from ¥5,593,057,522.20 at the end of the previous year[5] - The company's total liabilities increased to CNY 5,924,782,322.77 from CNY 5,553,710,593.69 at the beginning of the year[21] - The ending cash and cash equivalents balance was 667,345,789.89 CNY, a decrease from 1,946,793,075.16 CNY at the end of the previous year[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 29.873 million[10] - The largest shareholder, Shaanxi Yanchang Petroleum (Group), holds 48.24% of shares, totaling 507,956,355 shares[10] - The second largest shareholder, Shaanxi Xinghua Group, holds 21.13% of shares, totaling 222,473,689 shares[10] - The total number of shares held by the top 10 shareholders includes significant stakes from natural persons and state-owned entities[10] - The shareholder Chen Wufeng holds a total of 14,302,850 shares, with a portion held in margin trading accounts[11] Strategic Initiatives - The company has initiated a non-public offering of A-shares, with the plan disclosed on August 11, 2020[12] - The company received approval from the Shaanxi Provincial Government for the non-public offering on January 21, 2021[13] - The company is in the process of responding to inquiries from the Shenzhen Stock Exchange regarding the stock issuance[15] - The company has been actively working on its stock issuance plan since 2020, with multiple updates and approvals throughout the years[14] - The company is focused on expanding its market presence through strategic financing and stock issuance initiatives[16] - The company plans to acquire 51% equity in Yushen Energy Chemical, a wholly-owned subsidiary of the controlling shareholder, to address potential competition issues[17] Operational Challenges - The company reported a significant drop in gross profit due to a sharp decline in product prices, impacting overall revenue[8] - Total operating costs rose to CNY 735,494,104.85 from CNY 659,690,265.33, indicating an increase of about 11.5%[23] - The company reported a net profit margin decline due to increased operating costs and reduced revenue[23] - The company's cash and cash equivalents decreased to CNY 667,345,789.89 from CNY 1,710,153,486.99, a decline of approximately 61.0%[19] - Accounts receivable decreased to CNY 146,639,223.50 from CNY 190,729,969.34, a reduction of about 23.1%[19] - Inventory increased to CNY 224,444,160.34 from CNY 183,272,031.31, reflecting an increase of approximately 22.5%[19] - The company reported investment losses of -2,407,980.96 CNY from joint ventures and associates[24] - The company did not conduct an audit for the Q1 2023 report[29]