2023-04-27 16:00Financial Performance - The company's revenue for Q1 2023 reached ¥9,438,229,716.32, representing a 75.91% increase compared to ¥5,365,267,017.62 in the same period last year[4] - Net profit attributable to shareholders decreased to ¥2,396,600,665.19, down 32.00% from ¥3,525,082,984.72 year-on-year[4] - Net profit for Q1 2023 was ¥2,163,972,917.06, compared to ¥3,560,026,630.63 in Q1 2022, reflecting a decrease of approximately 39.2%[17] - The total comprehensive income for Q1 2023 was 1,836,851,757.06 CNY, down from 3,389,536,231.67 CNY in Q1 2022, indicating a decline of about 45.7%[20] - Basic and diluted earnings per share for Q1 2023 were both 1.19 CNY, compared to 1.75 CNY in Q1 2022, reflecting a decrease of approximately 32%[20] Cash Flow - The net cash flow from operating activities was negative at -¥3,169,082,963.04, a decline of 379.24% compared to ¥1,134,889,135.18 in the previous year[4] - Net cash flow from financing activities was 4,579,657,096.20 CNY, a significant increase from 178,928,609.51 CNY in the previous year[20] - The company reported a net cash flow from investing activities of -2,557,591,073.83 CNY, compared to -2,692,479,618.33 CNY in the same period last year[20] Assets and Liabilities - The total assets at the end of Q1 2023 were ¥80,933,407,511.25, a 2.24% increase from ¥79,159,910,068.14 at the end of the previous year[4] - Total liabilities increased to ¥29,693,841,543.98 from ¥30,293,601,966.45, indicating a slight decrease of about 2.0%[15] - The total equity attributable to shareholders reached ¥46,217,027,259.62, compared to ¥44,042,826,990.75 in the previous year, reflecting an increase of approximately 4.9%[15] Research and Development - Research and development expenses increased by 84.99% to ¥391,927,028.05, reflecting the company's ongoing commitment to innovation[6] - Research and development expenses increased to ¥391,927,028.05 from ¥211,864,208.36, marking a rise of about 84.9%[17] Investments and Projects - The company plans to invest in a new production facility in Chongqing with an annual capacity of 24 GWh for power batteries and 10 GWh for battery packs[10] - A new project for the production of 10 GWh of new lithium batteries and energy storage headquarters is set to be established in Dongguan[11] - The company will acquire an additional 18% stake in Xinyu Ganfeng Mining Co., increasing its ownership to 80%[11] - A strategic cooperation framework agreement was signed with the Xilin Gol League Administrative Office to develop the lithium battery new energy industry chain[12] - The company’s investment agreement with Chongqing partners was approved by the board in January 2023[10] Financial Assistance and Subsidies - The company received government subsidies amounting to ¥37,525,292.34, an increase of 53.05% compared to ¥24,518,574.89 in the previous year[7] - The company has provided financial assistance of up to 10 million RMB to Inner Mongolia Vilarsto Mining Co., with a 5% annual interest rate[11] Shareholder Information - The top ten shareholders include HKSCC NOMINEES LIMITED with 403,542,556 shares, representing a significant portion of the company's equity[9] Other Financial Metrics - The company reported a significant increase in financial expenses, which rose by 251.25% to ¥139,156,718.01 due to higher interest costs and exchange losses[7] - The weighted average return on equity decreased to 5.31%, down from 14.92% in the same period last year, indicating a decline in profitability[4] - The company reported a significant asset impairment loss of ¥1,179,692,061.81, largely due to the cyclical impact on the lithium industry[7] - Total operating costs amounted to ¥6,641,238,432.22, up from ¥2,305,690,416.00, indicating an increase of about 188.5%[16] - The company's total receivables from financing reached 2,067,424,128.37 RMB as of March 31, 2023[13] - Cash and cash equivalents at the end of Q1 2023 were 7,950,070,822.80 CNY, down from 3,750,782,009.75 CNY at the end of Q1 2022[20]