楚江新材(002171) - 2023 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2023 was CNY 9,579,626,978.11, representing a 1.44% increase compared to CNY 9,443,771,622.64 in the same period last year[15] - The net profit attributable to shareholders for Q1 2023 was CNY 94,691,700.78, a decrease of 16.94% from CNY 114,005,715.44 in the previous year[15] - The net profit attributable to the parent company for Q1 2023 was CNY 91.18 million, down from CNY 114.01 million in the same period last year, a decrease of approximately 20%[40] - Basic earnings per share for Q1 2023 were CNY 0.07, compared to CNY 0.09 in the previous year, reflecting a decline of about 22%[40] - The company reported a net profit of 94.69 million yuan for Q1 2023, a slight decrease of 13.06% compared to 137.48 million yuan in Q1 2022[48] Cash Flow - The net cash flow from operating activities for Q1 2023 was CNY -1,190,970,351.36, reflecting an 11.12% decline compared to CNY -1,071,817,135.86 in the same period last year[15] - The cash inflow from financing activities totaled 2,303,087,573.26, significantly higher than 1,238,628,375.52 in the previous period, indicating strong capital raising efforts[67] - The company reported a significant increase in cash flow from financing activities, which reached CNY 968,456,457.41, a 127.61% increase compared to CNY 425,498,424.72 in the same period last year[24] - The ending cash and cash equivalents balance was 1,789,450,009.49, compared to 1,427,376,825.02 in the previous period, indicating an increase in liquidity[67] Assets and Liabilities - The total assets at the end of Q1 2023 amounted to CNY 16,456,839,813.38, which is a 12.51% increase from CNY 14,627,505,667.80 at the end of the previous year[16] - Current liabilities rose to approximately CNY 7.13 billion, compared to CNY 5.53 billion, reflecting an increase of around 29%[38] - The company's total liabilities reached approximately CNY 9.66 billion, up from CNY 7.93 billion, indicating a growth of about 22%[38] - The company’s total equity increased to approximately CNY 6.79 billion, up from CNY 6.70 billion, reflecting a growth of about 1.3%[38] Investments and Capital Structure - The company completed a capital increase for its subsidiary, Dingli Technology, raising its registered capital from CNY 2,661.60 million to CNY 3,726.2440 million, with the company's ownership percentage decreasing from 100% to 71.4285%[1] - The company issued 18.30 million convertible bonds with a total amount of CNY 1.83 billion, which are set to mature in six years[53] - The company plans to repurchase shares with a total fund of no less than CNY 250 million and no more than CNY 350 million, with a maximum repurchase price of CNY 12 per share[55] - Long-term borrowings rose to approximately CNY 352.67 million, compared to CNY 250.63 million, marking an increase of about 40.8%[38] Operational Efficiency - The company completed the merger of its wholly-owned subsidiary, Qingyuan Chujing Copper Industry Co., Ltd., into Qingyuan Chujing High-Precision Copper Strip Co., Ltd., enhancing operational efficiency[72] - The company completed the restructuring of its wholly-owned subsidiary, Chujiang High Precision Copper Strip Co., Ltd., by transferring certain assets and liabilities as of December 31, 2022, and the related registration procedures are in progress[35] Other Financial Metrics - The company’s weighted average return on equity for Q1 2023 was 1.52%, down from 1.83% in the previous year[15] - The company’s accounts receivable increased by 40.81% to CNY 3,135,558,717.98 compared to CNY 2,226,732,993.35 at the end of the previous year[22] - The company’s inventory increased to approximately CNY 3.04 billion, up from CNY 2.73 billion, which is an increase of around 11.4%[37] - Other receivables increased by 95.35% to 368.34 million yuan, primarily due to an increase in margin deposits at the futures exchange[48] - The company recorded an investment loss of 28.81 million yuan, a significant increase of 301.89% compared to the previous year[48] - The company’s tax and surcharges increased by 39.75% to 35.89 million yuan, mainly due to higher VAT-related surcharges[48]