珈伟新能(300317) - 2023 Q1 - 季度财报

Report Cover and Important Notice Jiawei New Energy Co., Ltd. released its Q1 2023 report, with management guaranteeing its accuracy and completeness, unaudited - Jiawei New Energy Co., Ltd. published its 2023 first-quarter report, with the Board of Directors, Supervisory Board, and senior management guaranteeing the report's truthfulness, accuracy, and completeness, and confirming it is unaudited[1][2][3][4] Key Financial Data Key Accounting Data and Financial Indicators The company's Q1 2023 key financial indicators significantly declined year-over-year, with operating revenue and net profit falling sharply, and net cash flow from operating activities turning negative Q1 2023 Key Accounting Data and Financial Indicators | Item | Current Reporting Period (RMB) | Prior Year Period (RMB) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 99,950,447.57 | 249,447,945.23 | -59.93% | | Net Profit Attributable to Shareholders of the Listed Company | -11,979,999.28 | 28,459,634.42 | -142.09% | | Net Profit Attributable to Shareholders of the Listed Company, Excluding Non-Recurring Gains and Losses | -14,112,402.97 | 9,664,883.65 | -246.02% | | Net Cash Flow from Operating Activities | -100,793,212.79 | 366,979,539.31 | -127.47% | | Basic Earnings Per Share (EPS) | -0.0145 | 0.0345 | -142.03% | | Diluted Earnings Per Share (EPS) | -0.0145 | 0.0345 | -142.03% | | Weighted Average Return on Net Assets | -0.66% | 1.63% | Decreased by 2.29 percentage points | Balance Sheet Key Indicators (Period-End) | Item | End of Current Reporting Period (RMB) | End of Prior Year (RMB) | Change from Prior Year-End | | :--- | :--- | :--- | :--- | | Total Assets | 2,530,411,907.16 | 2,336,255,297.01 | 8.31% | | Total Equity Attributable to Shareholders of the Listed Company | 1,818,968,247.54 | 1,826,071,870.66 | -0.39% | Non-Recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for this period amounted to RMB 2,132,403.69, primarily from government grants and debt restructuring losses, positively impacting net profit Q1 2023 Non-Recurring Gains and Losses Items | Item | Current Period Amount (RMB) | Description | | :--- | :--- | :--- | | Gains and Losses from Disposal of Non-Current Assets | -107.64 | | | Government Grants Recognized in Current Period Profit/Loss | 5,766,673.31 | Primarily government grants received by subsidiary Jiangsu Huayuan New Energy Technology Co., Ltd. | | Debt Restructuring Gains and Losses | -3,815,794.87 | Primarily debt restructuring losses from the disposal of a plant by subsidiary Jiawei Longneng Solid-State Energy Storage Technology Rugao Co., Ltd. | | Other Non-Operating Income and Expenses | 184,465.06 | | | Less: Income Tax Impact | 1,334.97 | | | Impact on Minority Interests (After Tax) | 1,497.20 | | | Total | 2,132,403.69 | | Changes and Reasons for Key Accounting Data and Financial Indicators During the reporting period, multiple balance sheet, income statement, and cash flow statement indicators changed significantly, mainly due to PV power station business expansion, acquisitions, equity incentive expenses, and market environment shifts Balance Sheet Changes and Reasons Multiple balance sheet items showed significant period-end changes from the beginning of the year, mainly due to PV power station acquisitions, increased bill settlements, and higher borrowings Major Balance Sheet Changes | Item | March 31, 2023 (RMB) | January 1, 2023 (RMB) | Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Notes Receivable | 4,554,940.00 | 2,181,397.18 | 108.81% | Increased settlement of supplier payments by notes in this period | | Prepayments | 48,288,551.08 | 14,689,475.88 | 228.73% | Increased prepayments for PV power station business | | Fixed Assets | 632,775,476.41 | 445,996,805.90 | 41.88% | Acquisition of power stations in this period increased fixed assets within the consolidated scope | | Goodwill | 15,587,110.50 | 4,567,462.92 | 241.26% | Acquisition of power stations in this period increased goodwill within the consolidated scope | | Deferred Income Tax Assets | 9,313,037.33 | 6,558,762.87 | 41.99% | Recognized based on lease liabilities | | Short-Term Borrowings | 29,500,000.00 | 0.00 | New | New short-term borrowings in this period | | Employee Compensation Payable | 7,900,016.17 | 14,443,069.16 | -45.30% | Wages and bonuses paid in this period | | Other Payables | 317,172,817.26 | 210,418,860.17 | 50.73% | Acquisition of power stations in this period increased finance lease borrowings | | Long-Term Borrowings | 128,300,000.00 | 53,800,000.00 | 138.48% | New long-term borrowings in this period | | Lease Liabilities | 30,465,278.19 | 18,859,863.78 | 61.53% | Acquisition of power stations in this period increased lease liabilities within the consolidated scope | Income Statement Changes and Reasons The income statement shows significant declines in operating revenue and cost, a notable increase in administrative expenses, and substantial reductions in financial expenses and non-operating income/expenses, leading to operating profit and total profit turning from gains to losses Major Income Statement Changes | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 99,950,447.57 | 249,447,945.23 | -59.93% | Mainly due to decreased revenue from PV lighting and PV power station EPC | | Operating Cost | 72,889,854.65 | 200,965,563.91 | -63.73% | Operating cost decreased with operating revenue | | Taxes and Surcharges | 673,952.19 | 3,655,649.39 | -81.56% | Mainly due to reduced taxes for PV power stations | | Administrative Expenses | 28,870,052.59 | 15,788,821.46 | 82.85% | Mainly due to equity incentive expenses and wages/bonuses accrued in this period | | Financial Expenses | 640,402.78 | 6,265,842.36 | -89.78% | Mainly due to lower interest expenses and increased exchange gains | | Other Income | 1,950,878.44 | 929,028.39 | 109.99% | Primarily government grants received by subsidiaries and debt restructuring losses | | Non-Operating Income | 189,118.91 | 20,012,917.87 | -99.06% | Mainly performance compensation received in the same period last year | | Non-Operating Expenses | 4,653.85 | 8,508,975.72 | -99.95% | Mainly tax penalties accrued in the same period last year | Cash Flow Statement Changes and Reasons Net cash flow from operating activities turned negative, mainly due to reduced collections from EPC and lighting businesses and decreased intercompany receivables; investing cash outflows significantly increased, primarily for power station acquisitions; financing cash inflows rose, mainly from borrowings and restricted stock investments Major Cash Flow Statement Changes | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | YoY Change | Reason