Financial Performance - The company's revenue for Q1 2023 was CNY 1,097,143,472.45, a decrease of 30.71% compared to CNY 1,583,457,434.88 in the same period last year[6] - Net profit attributable to shareholders was CNY 7,975,421.97, down 98.25% from CNY 456,840,170.96 year-on-year[6] - The net profit after deducting non-recurring gains and losses was CNY 5,785,761.71, a decline of 98.73% compared to CNY 456,697,598.91 in the previous year[6] - Basic and diluted earnings per share were both CNY 0.04, a decrease of 98.51% from CNY 2.69 in the previous year[6] - Total operating revenue for Q1 2023 was approximately 1.097 billion, a decrease of 30.6% compared to 1.583 billion in the same period last year[44] - The net profit for Q1 2023 was approximately 7.98 million, a significant decrease from 456.8 million in Q1 2022[46] Cash Flow and Assets - The net cash flow from operating activities was CNY -358,151,368.66, showing an improvement of 7.47% from CNY -387,083,889.62 in the same period last year[6] - The company's cash and cash equivalents decreased to CNY 3,861,818,438.89 from CNY 4,471,007,947.90 at the beginning of the year[10] - The company's cash and cash equivalents at the end of the period decreased to 3,768,823,104.92 CNY from 5,411,089,409.33 CNY, a decline of approximately 30.3%[21] - The net cash flow from investing activities was -177,663,064.25 CNY, worsening from -120,433,025.56 CNY in the previous period[21] - Total assets at the end of the reporting period were CNY 9,365,133,663.17, down 1.31% from CNY 9,489,855,178.35 at the end of the previous year[6] Operating Costs and Expenses - Total operating costs for Q1 2023 were approximately 979.6 million, down 4.4% from 1.025 billion in Q1 2022[44] - The company's research and development expenses decreased by 37.15% to 16,014,769.68 CNY compared to the previous year[28] - Research and development expenses for Q1 2023 were approximately 16 million, down 37.1% from 25.5 million in the previous year[46] - The company reported a financial expense of approximately -19.9 million in Q1 2023, compared to a financial expense of 3.1 million in Q1 2022[46] Shareholder Information - The total number of common shareholders at the end of the reporting period was 24,711[32] - The largest shareholder, Luo Jie, holds 22.43% of the shares, amounting to 50,840,820 shares[32] - Xie Fubiao, the second-largest shareholder, owns 10.36% of the shares, totaling 23,497,386 shares[32] - Xiamen Tungsten Co., Ltd. holds 9.05% of the shares, equivalent to 20,520,000 shares[32] - The total number of restricted shares at the beginning of the period was 180,760,497, with 81,979,174 shares released during the period[35] - The total number of unrestricted shares held by the top 10 shareholders is 98,781,323[35] - The company plans to release certain restricted shares on March 29, 2023, and September 17, 2023[35] - The company has a significant number of shares held by institutional investors, including Shanghai Automotive Group Co., Ltd. with 2,586,503 shares[38] - The total number of shares held by other restricted shareholders is 21,753,849, with 17,134,549 shares released during the period[38] - The company has a strategy to manage its shareholding structure effectively, ensuring compliance with relevant regulations[32] Production Capacity and Projects - The company has the capacity to produce 40,000 tons of copper and 10,000 tons of cobalt intermediate products, with plans to increase copper production capacity to 60,000 tons after the completion of the Congo Phase III project[9] - As of March 31, 2023, the company has entered trial production for 13,500 tons of cobalt and 10,000 tons of nickel as part of its smart technology upgrade project[39] - The lithium carbonate production line has been installed and is expected to commence production in Q2 2023[39] - The first phase of the 40,000 tons ternary precursor and 10,000 tons cobalt oxide project began construction in December 2022, with trial production expected by the end of 2023[39] Accounts Receivable and Inventory - The accounts receivable increased by 40.75% to 187,334,666.21 CNY due to increased product sales at the end of the quarter[28] - Inventory decreased to CNY 2,139,059,296.52 from CNY 2,375,376,160.82 at the beginning of the year[12] - The company's short-term borrowings decreased by 60.12% to 77,765,839.03 CNY, reflecting a reduction in procurement scale[28]
腾远钴业(301219) - 2023 Q1 - 季度财报