DHHI(002204)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥2,632,930,746.11, representing a 22.29% increase compared to ¥2,153,002,330.43 in the same period last year[4] - Net profit attributable to shareholders was ¥114,174,252.42, a 63.41% increase from ¥69,871,353.81 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥78,405,532.40, up 129.86% from ¥34,110,446.09 in the previous year[4] - Basic earnings per share increased to ¥0.0591, a rise of 63.26% compared to ¥0.0362 in the previous year[4] - The company's total profit for Q1 2023 was ¥133,551,771.93, reflecting a 66.77% increase from ¥80,082,620.26 in the same period last year[9] - Operating profit for the period was ¥134,695,741.91, compared to ¥52,349,002.32 in the same period last year, reflecting a significant improvement[30] - The company recorded a total comprehensive income of ¥115,265,150.26, compared to ¥70,869,403.55 in Q1 2022, indicating strong overall performance[30] Cash Flow - The company's cash flow from operating activities was negative at -¥258,472,973.49, worsening from -¥122,324,598.33 in the same period last year[4] - The net cash flow from operating activities for Q1 2023 was -258,472,973.49 RMB, a decrease from -122,324,598.33 RMB in the previous period, primarily due to increased production investments[10] - Cash inflow from investment activities totaled 333,814,894.95 RMB, a 120.76% increase compared to 151,212,496.19 RMB, mainly due to the maturity of entrusted financial products[10] - Cash outflow from investment activities reached 730,437,529.27 RMB, a significant increase of 604.02% from 103,752,470.18 RMB, attributed to the purchase of entrusted financial products and increased fixed asset investments[10] - The net cash flow from investment activities was -396,622,634.32 RMB, a drastic decline of 935.70% from 47,460,026.01 RMB, due to the aforementioned investments[10] - The net increase in cash and cash equivalents was -172,543,252.49 RMB, compared to -78,267,471.73 RMB in the previous period, primarily due to increased production and fixed asset investments[10] - Cash and cash equivalents at the end of the period totaled ¥2,199,912,002.24, slightly down from ¥2,170,783,523.15 at the end of Q1 2022[32] Assets and Liabilities - Total assets at the end of the reporting period were ¥21,537,345,778.21, a slight decrease of 0.63% from ¥21,673,524,559.68 at the end of the previous year[4] - As of March 31, 2023, the total current assets amounted to approximately 17.88 billion CNY, slightly down from 17.90 billion CNY at the beginning of the year[24] - The total non-current assets decreased from approximately 3.77 billion CNY at the beginning of the year to approximately 3.65 billion CNY[26] - The total liabilities decreased from approximately 15.01 billion CNY at the beginning of the year to approximately 14.75 billion CNY[27] - The company's total assets as of March 31, 2023, were approximately 21.54 billion CNY, down from 21.67 billion CNY at the beginning of the year[27] - The company’s retained earnings increased to approximately 2.34 billion CNY from 2.22 billion CNY at the beginning of the year[27] Investments and Expenses - The company reported a significant increase in contract assets, which rose by 47.93% to ¥758,771,829.84 from ¥512,911,886.32[8] - The company’s financial expenses increased to ¥448,830.57, compared to -¥1,858,612.79 in the previous year, primarily due to interest and exchange losses[9] - Investment income surged by 172.48% to ¥5,329,216.57 from ¥1,955,832.59, attributed to returns from entrusted financial products[9] - Research and development expenses increased to ¥104,005,311.15, up from ¥101,860,002.65 in the previous year, indicating continued investment in innovation[28] - Total operating costs for the period were ¥2,554,333,574.98, a 21.5% increase from ¥2,102,980,859.28 in the same period last year[28] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 99,379, with no preferred shareholders[12] - The largest shareholder, Dalian Heavy Industry Equipment Group Co., Ltd., holds 62.18% of the shares, totaling 1,200,880,758 shares[12] Corporate Actions - The company approved an increase of 479 million RMB in its wholly-owned subsidiary, Dalian Huari Marine Crankshaft Co., Ltd., raising its registered capital from 201 million RMB to 680 million RMB[14] - The company adjusted the limit for entrusted financial management from 400 million RMB to 1 billion RMB to enhance capital efficiency[15] - The company approved a capital increase of 350 million RMB for its wholly-owned subsidiary, Dalian Huari Heavy Industry (Yancheng) Equipment Manufacturing Co., Ltd., to invest in the Sheyang base wind tower intelligent manufacturing project[16] - The construction plan for the Sheyang base wind tower project was optimized, focusing on engineering and equipment procurement adjustments, while maintaining the overall project content unchanged[16] - The company has fully registered the capital increase and completed the business change registration procedures as of February 3, 2023[16] Legal Matters - Dalian Heavy Industry Equipment Co., Ltd. has filed a lawsuit against Hebei Shenghua Chemical Co., Ltd. regarding an EPC contract dispute, with a property preservation application resulting in the freezing of 182 million RMB in bank deposits[17] - The company has made provisions for bad debts totaling 18.35 million RMB and inventory depreciation provisions of 12.83 million RMB due to the ongoing litigation with Hebei Shenghua[17] - The company has accumulated a provision for expected liabilities amounting to 10.19 million RMB related to the litigation with Hebei Shenghua[17] - The company is actively preparing for the second-instance litigation regarding the dispute with Hebei Shenghua while submitting claims to the bankruptcy liquidation group of Hebei Shenghua[17] - The company signed a supplementary agreement with Dalian Equipment Financing Leasing Co., Ltd. to extend the repurchase period for a financing lease project, with a payment of 30 million RMB made to offset the principal of the repurchase price[19] - The company is facing a lawsuit from Dalian Equipment Financing Leasing Co., Ltd. for a remaining repurchase price of 301.97 million RMB and a penalty of 40.23 million RMB, totaling 342.21 million RMB[19] - As of the end of 2022, the company has cumulatively recognized expected liabilities of 193.22 million RMB related to the leasing project[19] Other Information - The company is in the process of deregistering its subsidiary in Malaysia, with the deregistration of other subsidiaries completed[22] - The company received a government subsidy of 20.21 million CNY, accounting for 17.51% of the latest audited net profit attributable to shareholders[21] - The company authorized the disposal of 355,692 shares of *ST Haihe stock at a minimum price of 5.01 CNY per share, with a total transaction amount of approximately 1.80 million CNY[23]