Valiant(SZ:002643)2023-04-19 16:00Financial Performance - Total operating revenue for Q1 2023 was CNY 1,032,782,095.17, a decrease of 24.6% compared to CNY 1,370,890,436.49 in the same period last year[9]. - Net profit attributable to the parent company was approximately ¥176.56 million, a decrease from ¥232.78 million in the same period last year, representing a decline of 24.1%[16]. - Total comprehensive income attributable to the parent company was approximately ¥155.95 million, down from ¥222.51 million, reflecting a decrease of 30.0%[16]. - Basic and diluted earnings per share were both ¥0.19, compared to ¥0.25 in the previous year, indicating a decline of 24.0%[16]. - Net profit for the period was $190.52 million, down from $250.23 million, representing a decline of about 23.9%[53]. - Total revenue from operating activities was $971.87 million, compared to $1.74 billion in the previous period, indicating a decline of approximately 44%[55]. Cash Flow - Cash received from sales of goods and services was CNY 894,898,506.99, down 46.1% from CNY 1,653,088,309.96 in the previous year[11]. - The net increase in cash from operating activities was significantly lower compared to the previous year, indicating potential challenges in cash flow management[11]. - Cash inflow from operating activities decreased by 44.10% to approximately ¥971.87 million, down from ¥1.74 billion, due to reduced market demand[28]. - Cash outflow from operating activities decreased by 50.71% to approximately ¥741.73 million, compared to ¥1.50 billion in the previous year[28]. - Cash flow from operating activities generated a net amount of $230.14 million, slightly down from $233.76 million[55]. - The company received $70.24 million in tax refunds, down from $79.24 million[55]. Assets and Liabilities - Total assets increased to CNY 9,527,960,676.15 from CNY 9,259,733,391.95 at the beginning of the year, reflecting a growth of 2.9%[8]. - Total liabilities rose to CNY 2,551,943,757.02, up from CNY 2,475,123,214.97, indicating an increase of 3.1%[6]. - The company's total equity reached CNY 6,976,016,919.13, up from CNY 6,784,610,176.98, reflecting an increase of 2.8%[6]. - The company's total equity attributable to shareholders increased by 2.82% to ¥6,463,880,188.92 compared to the previous year[34]. - Trade financial assets decreased significantly by 96.63% to ¥6,943,546.44, as funds were transferred to cash equivalents[37]. Borrowings and Financial Expenses - Long-term borrowings increased significantly to CNY 584,802,638.52 from CNY 345,239,125.52, marking a rise of 69.2%[6]. - Financial expenses increased by 122.94% to ¥15.17 million, attributed to increased foreign exchange losses and higher interest expenses from increased interest-bearing liabilities[28]. - Long-term borrowings increased by 69.39% to approximately ¥584.80 million, reflecting the company's funding needs[28]. Operating Costs and Expenses - Operating costs decreased by 30.09% to ¥613.11 million from ¥876.98 million, primarily due to a reduction in operating revenue[28]. - Research and development expenses decreased to $64.83 million from $83.65 million, a reduction of approximately 22.5%[53]. Market Strategy - The company continues to focus on expanding its market presence and developing new technologies to enhance its competitive edge[10]. Other Comprehensive Income - Other comprehensive income decreased by 57.41% to approximately ¥15.29 million, primarily due to foreign currency translation differences[28]. - The company reported a significant increase in foreign currency translation differences, which amounted to approximately -¥20.60 million, a 100.57% increase compared to -¥10.27 million in the previous year[28].