LMC(SZ:002921)2023-04-24 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥318,749,839.39, a decrease of 3.53% compared to ¥330,397,092.34 in the same period last year[4] - The net profit attributable to shareholders was a loss of ¥1,723,197.26, representing a decline of 117.93% from a profit of ¥9,612,098.77 in the previous year[4] - The company reported a basic and diluted earnings per share of -¥0.02, down 125.00% from ¥0.08 in the previous year[4] - Net profit for Q1 2023 was CNY -594,873.50, compared to a net profit of CNY 10,883,201.42 in Q1 2022, indicating a significant decline[24] - The total comprehensive income attributable to the parent company was -2,756,166.16 CNY, down from 9,343,891.80 CNY year-over-year[25] Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥10,410,553.31, a significant increase of 122.58% compared to a negative cash flow of ¥46,104,992.03 in the same period last year[4] - Cash received from borrowings rose by 43.13% to ¥248,365,020.83 compared to ¥173,524,923.30 in the same period last year[14] - Total cash outflow from operating activities was 302,575,156.06 CNY, compared to 370,901,502.42 CNY in the previous year, reflecting improved cash management[27] - Financing activities generated a net cash inflow of 140,468,413.18 CNY, down from 519,359,388.88 CNY in the previous year, indicating a reduction in financing activities[27] Assets and Liabilities - Total assets increased by 7.33% to ¥2,431,134,048.23 from ¥2,265,194,005.54 at the end of the previous year[4] - Total liabilities increased to CNY 1,171,010,507.73 from CNY 992,300,721.23, marking an increase of 18.06%[21] - The company reported a significant increase in short-term borrowings, rising to CNY 456,182,748.49 from CNY 386,494,312.06, an increase of 18.0%[21] Operational Highlights - The company is actively developing new products and optimizing production lines, with a focus on high-end capacity reserves to enhance future profitability[7] - The company is facing challenges in the heavy truck and construction machinery sectors, which have impacted profit margins and overall performance[7] - The company experienced a 1286.81% increase in trading financial assets, reaching ¥16,592,196.15, attributed to investments made with idle funds[8] Tax and Expenses - Total cash paid for taxes increased by 126.92% to ¥8,740,899 compared to ¥3,852,013 in the same period last year[14] - Research and development expenses for Q1 2023 were CNY 7,587,850.99, up from CNY 6,537,844.97 in the same period last year, indicating a 16.06% increase[24] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 13,590[16] - The largest shareholder, Guo Yuanqiang, holds 19.20% of shares, totaling 25,271,996 shares[16] Investment Activities - The company reported a 100% decrease in cash received from investment absorption, totaling ¥0 compared to ¥403,409,792.75 in the previous year[14] - Cash received from the disposal of fixed assets surged by 3689.90% to ¥7,367,574 from ¥194,400 year-on-year[14] - Investment activities resulted in a net cash outflow of -33,000,291.32 CNY, an improvement from -73,050,747.78 CNY in the same period last year[27]