CITIC COHC(000099)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥404,919,016.51, representing a 12.19% increase compared to ¥360,909,160.27 in the same period last year[5] - The net profit attributable to shareholders decreased by 3.43% to ¥68,654,095.99 from ¥71,095,807.99 year-on-year[5] - The company's basic earnings per share for Q1 2023 was ¥0.0885, down 3.38% from ¥0.0916 in the same period last year[5] - Net profit for Q1 2023 was CNY 65,372,891.19, a decrease of 6.5% from CNY 69,926,456.09 in Q1 2022[28] - The total comprehensive income for the first quarter of 2023 was CNY 65,372,891.19, a decrease from CNY 69,926,456.09 in the previous year, representing a decline of approximately 6.5%[29] Cash Flow and Liquidity - The net cash flow from operating activities increased by 21.40% to ¥207,111,423.47 compared to ¥170,601,395.87 in the previous year[5] - As of March 31, 2023, the company's cash and cash equivalents amounted to RMB 1,549,349,664.01, an increase from RMB 1,440,950,361.48 at the beginning of the year, reflecting a growth of approximately 7.5%[23] - Cash inflow from operating activities totaled CNY 664,899,566.90, compared to CNY 751,870,005.95 in the previous year, indicating a decrease of approximately 11.6%[30] - Cash outflow from operating activities was CNY 457,788,143.43, down from CNY 581,268,610.08, reflecting a reduction of about 21.3%[32] - The total cash and cash equivalents at the end of the period amounted to CNY 1,545,575,649.00, down from CNY 1,880,270,300.80 in the previous year[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,397,204,345.04, a decrease of 1.03% from ¥6,463,696,921.34 at the end of the previous year[5] - Total liabilities decreased to CNY 1,263,519,933.59 in Q1 2023 from CNY 1,342,463,637.08 in Q1 2022, a reduction of approximately 5.9%[25] - The company's total assets as of Q1 2023 amounted to CNY 6,397,204,345.04, slightly down from CNY 6,463,696,921.34 at the end of Q1 2022[25] Expenses - Research and development expenses decreased significantly by 83.31% to ¥223.56 million from ¥1,339.35 million year-on-year, indicating reduced investment in R&D[10] - The company reported a 30.25% reduction in selling expenses, totaling ¥2,332,000 compared to ¥3,343,500 in the previous year[10] - Total operating costs for Q1 2023 were CNY 368,113,043.18, up from CNY 332,568,038.72 in Q1 2022, reflecting a rise of 10.7%[27] - Research and development expenses for Q1 2023 were CNY 2,235,562.12, significantly lower than CNY 13,393,482.64 in Q1 2022, indicating a decrease of 83.3%[28] Government Support and Subsidies - The company received government subsidies amounting to ¥1,016,896.23 during the reporting period, which are closely related to its normal business operations[6] - The company received a total of RMB 27,350,000 in aviation development special fund subsidies in March 2023, which supports its operational funding[18] - The company’s subsidiary, Haizhi Tonghang, received RMB 23,270,000 in general aviation development special fund subsidies in February 2023, further enhancing its financial position[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 52,358[14] - The top ten shareholders include CITIC Offshore Helicopter Co., Ltd. holding 234,119,474 shares, representing a significant portion of the company's equity[15] - The company has no related party transactions among its top shareholders, ensuring transparency in ownership structure[15] Operational Developments - The company is actively pursuing market expansion and new technology development to enhance its competitive position in the aviation sector[18] - The company signed a settlement agreement with Airbus Helicopters regarding damages and costs related to the grounding of 8 H225 helicopters, with financial implications extending into 2023[16] - The company has extended its commitment period for future business arrangements with CITIC Haizhi Financing Leasing Co., Ltd. until November 26, 2023, ensuring continuity in operations[17] Financial Improvements - The company reported a financial expense of CNY -6,018,770.24 in Q1 2023, compared to CNY 3,363,337.27 in Q1 2022, showing a significant improvement[28] - The company reported a net cash outflow from investing activities of CNY -8,179,427.27, an improvement from CNY -62,857,241.61 in the previous year[32] - The cash flow from financing activities resulted in a net outflow of CNY -90,447,018.26, compared to CNY -36,543,326.18 in the previous year[32]