东岳硅材(300821) - 2023 Q1 - 季度财报

Financial Performance - Operating revenue for the current period was ¥1,403,520,632.44, an increase of 4.05% compared to ¥1,348,854,904.08 in the same period last year[16]. - Net profit attributable to shareholders was -¥69,454,415.73, a decrease of 128.71% from ¥241,938,360.18 in the previous year[16]. - The total profit for the current period was -¥64,978,969.44, a decrease of 122.82% from ¥284,703,693.62 in the previous year[18]. - Basic and diluted earnings per share were both -¥0.06, down 130.00% from ¥0.20 in the previous year[16]. - The company reported a tax expense of ¥4,538,928.20 for the current period, compared to ¥42,765,333.44 in the previous period[49]. Cash Flow - The net cash flow from operating activities for Q1 2023 was -415,654,827.54 RMB, a decrease of 563.41% compared to 89,694,837.95 RMB in the same period last year, primarily due to increased cash payments for raw material purchases[11]. - The net cash flow from investing activities improved by 94.66%, amounting to -19,003,851.63 RMB, compared to -355,657,921.46 RMB in the previous year, mainly due to reduced project payments[11]. - Cash flow from operating activities showed a net outflow of ¥415,654,827.54, contrasting with a net inflow of ¥89,694,837.95 in the previous period[51]. - Cash and cash equivalents at the end of the period were ¥640,722,960.58, down 40.89% from ¥1,084,025,842.78 at the beginning of the period[36]. - The cash received from sales of goods and services was ¥446,726,900.22, a decrease from ¥517,131,248.60 in the previous period[51]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 76,079, with the largest shareholder, Dongyue Fluorosilicon Technology Group Co., Ltd., holding 57.75% of shares[11]. - Dongyue Fluorosilicon Technology Group Co., Ltd. holds 693,000,000 shares, which are subject to a lock-up period that was lifted on March 21, 2023[12]. - The total equity attributable to shareholders of the parent company was ¥5,167,864,458.75, down from ¥5,237,318,874.48, reflecting a decrease of about 1.3%[49]. Assets and Liabilities - Total assets at the end of the current period were ¥6,715,402,341.18, a decrease of 9.35% from ¥7,408,021,273.22 at the end of the previous year[16]. - Current assets decreased from 3.491 billion yuan to 2.782 billion yuan, indicating a reduction of approximately 20.3%[43]. - The total liabilities decreased to ¥1,544,237,539.18 from ¥2,167,338,573.58, a reduction of approximately 28.8%[49]. Operational Challenges - The company is facing severe market challenges due to ongoing global economic uncertainties and continuous release of new production capacity in the silicone industry[42]. - Future performance may be adversely affected if product prices remain low due to external market conditions[42]. - The company is actively managing production costs and non-production expenditures to mitigate current difficulties[42]. - The company did not report any new product launches or significant market expansion strategies during this period[50]. Management and Reporting - The company has not identified any non-recurring gains or losses that would impact its financial performance for the quarter[8]. - The company’s management has confirmed the accuracy and completeness of the financial information disclosed in the quarterly report[13]. - The board of directors and senior management have taken responsibility for the accuracy of the quarterly report, ensuring no misleading statements or omissions[14]. - The quarterly report has not undergone an audit, which may affect the reliability of the financial data presented[15]. Cost and Expenses - Operating costs increased by 41.22% to ¥1,366,443,981.75, primarily due to increased product sales[18]. - Total operating costs increased significantly to ¥1,463,656,859.08, up from ¥1,054,825,268.18, reflecting a rise of approximately 38.7%[49]. - Financial expenses rose by 154.29% to ¥4,218,783.92, mainly due to foreign exchange losses[18]. - Research and development expenses were reported at ¥73,582,866.53, slightly down from ¥74,519,207.02 in the previous period[49]. Accounts Receivable and Inventory - Accounts receivable increased by 244.24% to ¥119,947,042.00, due to extended credit terms offered to certain high-quality customers[36]. - Inventory increased from 440.47 million yuan to 486.46 million yuan, reflecting an increase of 10.4%[43].