珠江钢琴(002678) - 2023 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2023 was ¥373,489,234.23, a decrease of 22.54% compared to ¥482,140,601.23 in the same period last year[3] - Net profit attributable to shareholders was ¥30,726,373.39, down 42.09% from ¥53,060,493.45 year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥25,770,936.73, a decline of 50.21% compared to ¥51,755,723.07 in the previous year[3] - The company reported a significant decrease in net profit, with a 43.15% drop in net profit attributable to the parent company, influenced by a challenging macroeconomic environment[8] - Net profit for the quarter was $30.89 million, a decline of 43.2% from $54.32 million year-over-year[27] - Basic and diluted earnings per share were both $0.02, down from $0.04 in the previous year[29] Cash Flow - The net cash flow from operating activities was -¥206,485,980.05, a significant decrease of 352.50% from -¥45,632,747.10 in the same period last year[3] - Total cash inflow from operating activities was 242,773,614.78 yuan, down 38.7% from 396,281,160.57 yuan year-over-year[30] - Cash outflow from operating activities totaled 449,259,594.83 yuan, slightly increased from 441,913,907.67 yuan in the previous period[30] - The net cash flow from investing activities increased by 360.01% compared to the previous year, driven by higher redemptions of financial products[9] - The net cash flow from investing activities was 610,889,675.23 yuan, a substantial improvement compared to -234,944,326.42 yuan in the previous period[32] - Cash inflow from investment activities reached 628,104,694.60 yuan, up from 506,361,783.28 yuan year-over-year[32] - Cash outflow from investment activities was 17,215,019.37 yuan, significantly reduced from 741,306,109.70 yuan in the previous period[32] - Cash flow from financing activities resulted in a net outflow of -12,204,078.87 yuan, contrasting with a net inflow of 104,666,896.60 yuan in the previous period[32] Assets and Liabilities - The company's total assets at the end of Q1 2023 were ¥5,063,266,176.87, a decrease of 1.06% from ¥5,117,682,600.68 at the end of the previous year[3] - Total assets decreased to $5.06 billion, down from $5.12 billion year-over-year[23] - Total liabilities decreased to $1.29 billion, compared to $1.37 billion in the previous year[21] - The total assets at the end of the reporting period amounted to ¥3,328,416,812.93, slightly down from ¥3,358,730,502.27 at the beginning of the year[17] Shareholder Information - Total number of common shareholders at the end of the reporting period is 22,784[11] - The largest shareholder, Guangzhou Urban Construction Investment Group Co., Ltd., holds 50.81% of shares, totaling 692,743,365 shares[11] - The top ten shareholders collectively hold a significant portion of the company's shares, with the top four shareholders accounting for over 82% of total shares[11] Operational Metrics - Accounts receivable increased by 282.93% to ¥208,502,633.00 due to seasonal sales collection cycles[6] - Sales expenses for Q1 2023 were ¥16,294,465.39, an increase of 39.81% year-on-year, attributed to enhanced marketing efforts[7] - Inventory increased to ¥1,178,675,776.90 from ¥1,145,340,507.74, reflecting a growth of about 2.9%[17] - The company’s R&D expenses were $22.25 million, down from $24.14 million year-over-year[25] Investment and Capital Management - Investment income rose by 917.92% to ¥6,255,359.90, primarily due to redeemed financial products during the reporting period[8] - The company approved a capital increase of €10 million for its wholly-owned subsidiary, Guangzhou Piano Group Europe Co., Ltd., to mitigate exchange rate risks[14] - The company plans to repurchase and cancel 2,036,000 shares of restricted stock, which is 40% of the total granted shares, due to unmet performance targets[16] Other Information - The company has not disclosed any new product developments or market expansion strategies in the current report[12] - Other comprehensive income after tax was $893.49 thousand, compared to a loss of $3.48 million in the previous year[27]