FDM(002196)2023-04-28 16:00Financial Performance - The company's revenue for Q1 2023 was ¥445,480,311.19, a decrease of 21.95% compared to ¥570,783,279.06 in the same period last year[5] - Net profit attributable to shareholders increased by 36.98% to ¥8,171,973.90 from ¥5,965,632.63 year-on-year[5] - Total operating revenue for Q1 2023 was CNY 445,480,311.19, a decrease of 22% compared to CNY 570,783,279.06 in Q1 2022[23] - Net profit for Q1 2023 reached CNY 8,347,248.16, an increase of 44.3% from CNY 5,766,938.97 in Q1 2022[24] - The company reported a total comprehensive income of CNY 16,824,719.04, compared to CNY 5,684,724.85 in the same quarter last year[25] Cash Flow - The net cash flow from operating activities rose significantly by 174.23% to ¥203,683,740.13 compared to ¥74,275,036.78 in the previous year[5] - Cash flow from operating activities was CNY 709,910,995.41, a significant increase from CNY 593,429,566.49 in Q1 2022[26] - The net cash flow from operating activities for Q1 2023 was ¥203,683,740.13, a significant increase from ¥74,275,036.78 in Q1 2022, representing a growth of approximately 174.7%[27] - The net cash flow from financing activities for Q1 2023 was ¥11,631,337.26, compared to ¥88,625,212.88 in Q1 2022, reflecting a decline of approximately 86.9%[27] - The cash inflow from financing activities was primarily driven by cash received from borrowings amounting to ¥79,825,927.33, down from ¥106,031,638.02 in the previous year, reflecting a decrease of about 24.8%[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,748,044,733.68, a decrease of 1.58% from ¥3,808,147,124.55 at the end of the previous year[5] - The company's total assets as of March 31, 2023, were RMB 3.75 billion, a decrease from RMB 3.81 billion at the beginning of the year, indicating a decline of 1.4%[21] - The total liabilities decreased to CNY 2,481,250,854.34 from CNY 2,549,283,614.00 year-over-year[24] - The company's total equity increased to CNY 1,266,793,879.34, compared to CNY 1,258,863,510.55 in the previous year[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 34,168[12] - The company completed a share transfer of 45 million shares, representing 9.02% of the total share capital, to Zhijun Technology for a total consideration of RMB 620 million[15] - After the share transfer, Zhijun Technology controls 12.03% of the voting rights of the company, with the controlling shareholder changing from Excellent Automotive to Zhijun Technology[16] Investment Activities - The company reported a significant increase in investment income of 375.20% year-on-year, primarily due to gains from the transfer of subsidiaries[10] - Prepayments increased by 257.84% compared to the beginning of the year, mainly due to increased prepayments for equipment related to new energy electric drive capacity construction[10] - The company plans to transfer 71.88% of its stake in Green Pulse City Europe for RMB 50 million, with the transaction already receiving payment[17] - The company has signed a framework agreement to transfer 100% of its stake in Hubei Fangzheng Automotive Parts Co., with an initial payment of RMB 12 million received[18] - The company is in the process of transferring a 5% stake in Hunan CRRC Smart Technology Co. for no less than RMB 20 million, with payment already received[17] Expenses - The company's gross margin improved by approximately 6% due to an increase in the shipment of flat wire motors and high-voltage motors despite a 22% decline in overall revenue[9] - The company experienced a 628.43% increase in financial expenses year-on-year, primarily due to exchange rate fluctuations[10] - R&D expenses increased to CNY 36,300,746.69, up 24.9% from CNY 29,085,647.16 in the same period last year[24] - Cash paid for operating activities totaled ¥522,490,134.56, slightly down from ¥541,031,446.05 in the same quarter last year, indicating a decrease of about 3.4%[27] Inventory and Receivables - The company's accounts receivable decreased to RMB 503.71 million from RMB 758.49 million, a reduction of 33.5%[21] - The company's inventory as of March 31, 2023, was RMB 458.16 million, down from RMB 475.92 million, reflecting a decrease of 3.1%[21] Audit Information - The company did not conduct an audit for the Q1 2023 report[28]