2023-04-26 16:00Financial Performance - The company's revenue for Q1 2023 was ¥1,650,586,918.86, representing a 9.40% increase compared to ¥1,508,713,746.90 in the same period last year[3] - Net profit attributable to shareholders was ¥178,203,776.63, an increase of 8.77% from ¥163,829,220.36 year-on-year[3] - The net profit after deducting non-recurring gains and losses decreased by 19.00% to ¥123,509,476.39 from ¥152,478,943.42 in the previous year[3] - The company reported a significant increase in government subsidies, which amounted to ¥58,729,750.24, up 802.83% from ¥6,505,092.27 in the previous year[6] - The company's basic earnings per share remained stable at ¥0.21, with a diluted earnings per share also at ¥0.21[3] - The weighted average return on equity decreased by 0.54 percentage points to 2.59% from 3.13% year-on-year[3] - Total operating revenue for the current period reached ¥1,650,586,918.86, an increase of 9.39% compared to ¥1,508,713,746.90 in the previous period[15] - Net profit for the current period was ¥178,834,120.15, representing a 9.36% increase from ¥164,009,577.57 in the previous period[15] - The total comprehensive income for the current period was ¥179,303,787.94, up from ¥164,381,228.17 in the previous period[16] Cash Flow - The net cash flow from operating activities improved significantly to ¥417,064,697.86, compared to a negative cash flow of ¥423,579,602.19 in the same period last year, marking a 198.46% change[3] - Cash flow from operating activities was ¥1,880,864,813.05, compared to ¥1,516,546,535.49 in the previous period, indicating a significant increase[17] - The net cash flow from operating activities for Q1 2023 was ¥417,064,697.86, a significant improvement compared to a net outflow of ¥423,579,602.19 in Q1 2022[18] - Total cash outflow from operating activities amounted to ¥1,463,800,115.19, down from ¥1,940,126,137.68 in the previous year[18] - Cash flow from investing activities showed a net inflow of ¥97,617,579.55, compared to a net outflow of ¥96,278,102.47 in Q1 2022[18] - The company reported cash inflow from financing activities of ¥2,111,895.33, a decrease from ¥3,870,737,935.91 in the same quarter last year[18] - The net cash flow from financing activities was -¥46,165,642.62, contrasting sharply with a positive inflow of ¥3,524,650,334.91 in Q1 2022[18] - The cash and cash equivalents at the end of Q1 2023 totaled ¥3,663,252,232.84, down from ¥4,008,102,021.05 at the end of Q1 2022[18] - The total cash increase for the period was ¥262,867,776.90, a decrease from ¥2,752,635,113.45 in Q1 2022[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,647,364,692.27, a 3.80% increase from ¥11,220,455,751.51 at the end of the previous year[3] - Total current assets increased to ¥9,444,412,963.20 from ¥9,126,964,717.55, representing a growth of approximately 3.48%[12] - Cash and cash equivalents rose to ¥4,401,728,376.54, up from ¥4,130,247,580.42, indicating an increase of about 6.56%[12] - Total liabilities increased to ¥4,677,256,556.47 from ¥4,432,680,970.12, reflecting a rise of approximately 5.51%[13] - Total equity attributable to shareholders rose to ¥6,966,528,319.97 from ¥6,784,850,326.07, marking an increase of about 2.68%[13] - Non-current assets totaled ¥2,202,951,729.07, up from ¥2,093,491,033.96, reflecting an increase of about 5.22%[12] Operational Highlights - The production of high-performance rare earth permanent magnet materials reached 2,719 tons, a year-over-year growth of 47.39%[10] - Revenue from the new energy vehicle and auto parts sector was 804 million RMB, a substantial increase of 78.56% year-over-year[10] - Sales of new energy vehicle drive motor magnets could equip approximately 839,000 new energy passenger vehicles[10] - Revenue from energy-saving variable frequency air conditioning reached 355 million RMB, while wind power sector revenue was 138 million RMB[10] - Revenue from the robotics and industrial servo motor sector grew by 34% year-over-year, totaling 58.36 million RMB[10] - The company maintained strong production capacity and rapid product delivery capabilities despite external challenges such as fluctuations in rare earth material prices[10] Expenses - Total operating costs amounted to ¥1,517,945,511.74, up 13.98% from ¥1,331,618,203.81 in the prior period[15] - Research and development expenses increased to ¥71,827,115.07, up 22.08% from ¥58,826,903.24 year-over-year[15] - The company experienced a decrease in tax expenses to ¥11,209,704.75 from ¥18,814,302.79 in the previous period[15] - The company paid ¥154,533,295.69 to employees in Q1 2023, an increase from ¥119,213,815.52 in Q1 2022[18] - Tax payments in Q1 2023 were ¥24,441,471.58, compared to ¥12,749,698.83 in the same period last year[18] Receivables and Inventory - The company experienced a 52.19% decrease in notes receivable, primarily due to a reduction in commercial acceptance bills held at the end of the reporting period[6] - Accounts receivable slightly increased to ¥2,198,016,524.77 from ¥2,192,190,878.17, showing a marginal growth of 0.26%[12] - Inventory decreased to ¥1,867,793,289.50 from ¥1,931,141,038.83, representing a decline of approximately 3.29%[12] - The company reported a significant increase in other receivables, which rose to ¥67,955,766.16 from ¥10,182,239.39, a growth of approximately 567.73%[12] Foreign Exchange and Other Income - The company experienced a foreign exchange loss of -¥11,753,175.87 in Q1 2023, compared to -¥28,788,356.65 in Q1 2022[18] - Other comprehensive income after tax for the current period was ¥469,667.79, compared to ¥371,650.60 in the prior period[16] - The company reported an investment income of ¥3,529,748.18, an increase from ¥2,862,684.66 in the previous period[15]