Drinda(SZ:002865)2023-04-24 16:00Financial Performance - The company's revenue for Q1 2023 reached ¥3,967,337,980.30, representing a 94.84% increase compared to ¥2,036,249,240.08 in the same period last year[8] - Net profit attributable to shareholders was ¥353,977,345.09, a significant increase of 1,535.94% from ¥21,637,596.17 year-on-year[8] - The basic earnings per share rose to ¥1.79, up 1,527.27% from ¥0.11 in the previous year[8] - The company reported a total profit of 392.52 million RMB, up from 54.17 million RMB in the same period last year[24] - The company’s operating profit increased to 392.09 million RMB, compared to 55.02 million RMB in the previous year[24] - Revenue for the period reached 3.967 billion RMB, representing a year-on-year increase of 94.84%[35] - Net profit for the period was 354 million RMB, showing significant growth compared to the previous year[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,649,591,725.65, reflecting a 71.34% increase from ¥6,798,933,011.06 at the end of the previous year[8] - As of March 31, 2023, the total assets of the company reached approximately 11.65 billion yuan, a significant increase from 9.49 billion yuan in the previous year[22] - The total liabilities increased to ¥10,214,822,479.32 from ¥8,438,472,428.46, reflecting a rise of approximately 21.1%[39] - The total non-current liabilities rose to ¥5,333,581,785.44 from ¥4,061,001,172.12, an increase of approximately 31.3%[39] - The total equity attributable to the parent company increased to ¥1,434,769,246.33 from ¥1,050,831,863.00, representing an increase of about 36.5%[39] Cash Flow - The company reported a net cash flow from operating activities of ¥56,206,690.30, which is a 14.29% increase compared to ¥49,178,975.09 in the same period last year[8] - Net cash flow from operating activities was ¥56,206,690.30, compared to ¥49,178,975.09 in the previous period, indicating a growth of about 4.2%[45] - The net cash flow from investing activities was -¥630,112,116.87, compared to -¥616,044,613.00 in the previous period, showing a slight increase in cash outflow[46] - Cash and cash equivalents at the end of the period amounted to ¥1,245,882,557.89, up from ¥243,852,161.63 in the previous period, indicating a substantial increase[46] - The company’s cash and cash equivalents at the end of the period were approximately 2.19 billion RMB, up from 1.87 billion RMB at the beginning of the year[37] Inventory and Receivables - The company’s inventory increased by 98.97% to ¥674,349,208.22, attributed to increased production capacity and output[11] - Accounts receivable increased to approximately 74.70 million yuan in Q1 2023, up from 46.47 million yuan in the same period last year[22] - Inventory levels rose to approximately 674.35 million yuan, compared to 338.92 million yuan in the previous year[22] Investments and Financing - The company’s long-term borrowings rose by 30.09% to ¥2,157,240,767.23, primarily due to new project financing for the Chuzhou base[11] - The company plans to raise up to 2.776 billion yuan through a private placement to enhance R&D investment and capacity expansion, pending regulatory approval[20] - The company is focusing on stock issuance to strengthen its position in the capital market[36] Industry and Market Position - The photovoltaic industry continues to experience high growth, with domestic installed capacity increasing by 154.81% year-on-year in Q1 2023, totaling 33.66GW[16] - The company is positioned to benefit from the transition from P-type to N-type solar cell technology, enhancing its competitive edge in the market[19] - The company has accelerated the construction of its 10GW project in Chuzhou and 13GW project in Huai'an, aiming to increase its production capacity to over 40.5GW by the end of 2023[19] Government Support - The company received government subsidies for equipment, leading to a significant increase in other income by 3079.26% to ¥12,489,072.89[12] - The company received government subsidies amounting to 12.49 million RMB, primarily from equipment subsidies[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,137[32] - In 2022, the company completed a cash dividend distribution of 5.971178 yuan (including tax) per 10 shares and issued 3.980785 bonus shares per 10 shares[18] Management and Growth Strategy - The company has implemented a stock incentive plan to stabilize its core management and promote growth, involving over 400 key personnel[17] - The company plans to continue expanding its production capacity and leverage its technological advantages[36]