2023-04-28 16:00Financial Performance - The company's revenue for Q1 2023 reached ¥11,448,674,607.22, representing a 117.77% increase compared to ¥5,257,158,413.95 in the same period last year[3] - Net profit attributable to shareholders was ¥4,875,226,485.40, a 46.49% increase from ¥3,327,975,300.41 year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥4,836,318,922.00, up 70.67% from ¥2,833,670,495.96 in the previous year[6] - Basic and diluted earnings per share were both ¥2.97, reflecting a 32.00% increase from ¥2.25 in the same period last year[6] - Total operating revenue for Q1 2023 reached ¥11.45 billion, a significant increase of 117.5% compared to ¥5.26 billion in the same period last year[16] - Net profit for Q1 2023 was ¥8.45 billion, up 115.0% from ¥3.94 billion in Q1 2022[16] - Operating profit for the quarter was ¥11.76 billion, compared to ¥5.05 billion in the previous year, marking a growth of 132.5%[16] - The total comprehensive income for the quarter was ¥7.86 billion, compared to ¥4.58 billion in the previous year, indicating a growth of 71.0%[17] Assets and Liabilities - Total assets at the end of the reporting period were ¥75,057,865,996.10, a 5.94% increase from ¥70,846,492,117.36 at the end of the previous year[3] - Total current assets as of March 31, 2023, amounted to CNY 27,998,830,270.76, an increase from CNY 25,989,778,758.23 at the beginning of the year, representing a growth of approximately 7.76%[14] - The total non-current assets increased to CNY 47,059,035,725.34 from CNY 44,856,713,359.13, reflecting a growth of approximately 4.87%[14] - Total liabilities as of March 31, 2023, were CNY 19,314,702,539.31, compared to CNY 17,778,729,768.28 at the beginning of the year, marking an increase of about 8.66%[15] - The company's total equity rose to CNY 55,743,163,456.79 from CNY 53,067,762,349.08, representing an increase of approximately 5.06%[15] Cash Flow and Expenses - The company reported a substantial increase in cash flow from operating activities, totaling ¥10.45 billion, compared to ¥5.73 billion in the prior year, reflecting a growth of 82.5%[18] - The net cash flow from operating activities for Q1 2023 was approximately CNY 4.94 billion, an increase of 28.7% compared to CNY 3.84 billion in the same period last year[19] - Cash outflow from operating activities totaled CNY 5.51 billion, significantly higher than CNY 1.90 billion in Q1 2022, indicating increased operational expenditures[19] - The cash flow from investing activities showed a net outflow of approximately CNY 708.89 million, worsening from a net outflow of CNY 189.51 million in the previous year[19] - Cash inflow from financing activities was CNY 3.97 billion, a substantial increase from CNY 1.20 billion in Q1 2022, reflecting enhanced borrowing activities[19] - The total cash outflow from financing activities reached CNY 8.87 billion, up from CNY 4.42 billion in the same quarter last year, indicating higher dividend distributions and debt repayments[19] Shareholder Returns and Dividends - The company proposed a cash dividend of 30.00 RMB per 10 shares, totaling approximately 4.92 billion RMB based on the total share capital of 1,641,221,583 shares as of December 31, 2022[13] - The company paid CNY 5.30 billion in dividends and interest, a significant increase from CNY 384.64 million in the previous year, highlighting a focus on shareholder returns[19] Strategic Initiatives - The company aims to achieve a lithium chemical product capacity of approximately 300,000 tons of lithium carbonate equivalent by 2027, focusing on upstream lithium resources and expanding processing capacity[11] - The company is actively pursuing a five-year strategic plan (2023-2027) to enhance its market share in the electric vehicle and energy storage sectors[11] Corporate Governance - The company has appointed new executives, including the appointment of Jiang Weiping as the chairman of the sixth board of directors and Xia Jun Cheng as the CFO[10] - The company held its first temporary shareholders' meeting in 2023 to approve the election of new board members and supervisors[9] - The company’s board of directors and supervisory board have undergone a restructuring process in compliance with legal requirements[9] Tax and Financial Management - Tax expenses for the quarter were ¥3.30 billion, significantly higher than ¥1.12 billion in the same period last year, reflecting an increase of 195.5%[16] - The company reported a significant increase in tax payments, totaling CNY 2.91 billion compared to CNY 1.05 billion in the previous year, reflecting higher taxable income[19] Other Financial Metrics - The company's short-term borrowings decreased significantly from CNY 98,922,828.00 to CNY 45,414,628.00, a reduction of approximately 54.00%[15] - The retained earnings grew to CNY 27,913,097,332.25 from CNY 23,037,870,846.85, indicating an increase of approximately 21.16%[15] - The company's other comprehensive income showed a decline, moving from CNY -152,703,503.34 to CNY -545,280,766.53, reflecting a worsening of approximately 257.73%[15] - The company reported a decrease in financial expenses, with a net financial income of ¥81.34 million, compared to an expense of ¥243.24 million in the previous year[16] - The company achieved an investment income of ¥1.41 billion, compared to ¥1.59 billion in the previous year, showing a decrease of 11.4%[16] Acquisition and Investments - The company’s subsidiary Tianqi Lithium Energy Australia Pty Ltd planned to acquire all shares of Essential Metals Limited for approximately 136 million AUD (about 632 million RMB), but the transaction was not approved by ESS shareholders[12] - The company reported that the termination of the acquisition of Essential Metals Limited will not have a significant adverse impact on its financial status or operating results[12] Related Party Transactions - The company has not disclosed any related party transactions among its top shareholders[8]