安道麦B(200553) - 2023 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2023 was 8,610,576 thousand RMB, a decrease of 4.50% compared to the same period last year[7]. - Net profit attributable to shareholders was 83,273 thousand RMB, down 80.53% year-on-year[7]. - The net cash flow from operating activities was (2,905,168) thousand RMB, a decline of 60.17% compared to the previous year[7]. - The company experienced a significant decline in profit before tax, which was 71,111 thousand RMB, down 84.34% year-on-year[11]. - The first quarter gross profit decreased year-on-year primarily due to sales decline, unfavorable exchange rates, and high-cost inventory[20]. - The total profit for Q1 2023 was CNY 71,111, a decline of 84.3% compared to CNY 453,987 in Q1 2022[34]. - The company reported a net cash flow from operating activities of CNY (2,905,168), worsening from CNY (1,813,846) in Q1 2022[37]. - The company incurred interest expenses of CNY 267,287 in Q1 2023, compared to CNY 158,501 in Q1 2022, indicating a significant increase[34]. - The company’s basic earnings per share for Q1 2023 were CNY 0.036, down from CNY 0.184 in Q1 2022[34]. Sales Performance - Sales in North America decreased by 25.7% year-on-year, primarily due to adverse weather conditions and inflation impacting consumer demand[15]. - Sales in the Asia-Pacific region, including China, fell by 18.7% year-on-year, with China specifically down 23.1%[15]. - The company's sales in the fine chemicals business in China decreased year-on-year due to weak demand, intense competition, and generally lower market prices[19]. - Despite the overall sales decline in the Asia-Pacific region, the brand product sales in China grew year-on-year when calculated in local currency[19]. - The sales performance in Thailand and South Korea was strong in the first quarter, contrasting with the negative impact on sales in the Pacific region due to the waning effects of the La Niña phenomenon[19]. Assets and Liabilities - The company's total assets increased by 1.78% year-on-year, reaching 59,010,804 thousand RMB[7]. - As of March 31, 2023, the company's total current assets amount to 34,000,935 thousand yuan, an increase from 33,140,621 thousand yuan at the end of 2022[32]. - The company's total liabilities as of March 31, 2023, are 36,067,585 thousand yuan, compared to 34,855,834 thousand yuan at the end of 2022[32]. - The company's cash and cash equivalents decreased to 3,529,280 thousand yuan from 4,290,961 thousand yuan at the end of 2022[32]. - The company's total equity attributable to shareholders is 22,943,219 thousand yuan, down from 23,124,655 thousand yuan at the end of 2022[32]. - Short-term borrowings increased significantly to 6,713,822 thousand yuan from 3,342,921 thousand yuan at the end of 2022[32]. - The company reported a decrease in total non-current liabilities to 13,847,005 thousand yuan from 14,141,213 thousand yuan at the end of 2022[32]. Research and Development - The company's R&D investment increased by 3.74% year-on-year, totaling 134,902 thousand RMB[11]. - Research and development expenses for Q1 2023 were CNY 134,902, slightly up from CNY 130,037 in Q1 2022[34]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 42.965 million, including 29.721 million A-share shareholders and 13,244 B-share shareholders[29]. - The largest shareholder, Syngenta Group Co., Ltd., holds 78.47% of shares, totaling 1,828,137,961 shares[29]. - The company has no preferred shareholders as of the reporting period[30]. Financial Expenses - Financial expenses for Q1 2023 were RMB 207 million (USD 30 million), compared to a financial gain of RMB 258 million (USD 41 million) in Q1 2022[23]. - The total financial expenses net for Q1 2023 was RMB 559 million (USD 82 million), an increase from RMB 339 million (USD 53 million) in Q1 2022, primarily due to increased short-term loans and rising interest rates[24]. - Operating expenses for the first quarter amounted to RMB 65 million (USD 9.5 million), up from RMB 36 million (USD 5.7 million) in the same period last year, mainly due to non-cash items related to asset transfers[22]. Market Environment - The overall market environment was affected by global economic slowdown and cautious purchasing behavior from farmers due to high channel inventories[10]. - The company reported a total of 41,805 thousand RMB in non-recurring gains and losses for the quarter[9].