BOE(200725)2023-04-28 16:00Financial Performance - Operating revenue for Q1 2023 was RMB 37.97 billion, a decrease of 24.77% compared to Q1 2022[7] - Net profit attributable to shareholders was RMB 247.32 million, down 94.36% from RMB 4.39 billion in Q1 2022[7] - Basic and diluted earnings per share fell to RMB 0.003, a decline of 97.35% compared to RMB 0.113 in Q1 2022[7] - Operating profit for Q1 2023 was a loss of RMB 1.05 billion, compared to a profit of RMB 4.25 billion in Q1 2022[26] - Net profit attributable to owners of the Company was RMB 247.32 million in Q1 2023, down 94.4% from RMB 4.39 billion in Q1 2022[26] - Revenues for Q1 2023 were RMB 37.97 billion, a decrease of 25% compared to RMB 50.48 billion in Q1 2022[24] Cash Flow - Net cash generated from operating activities decreased by 31.40% year on year, totaling RMB 10.12 billion[10] - Cash generated from operating activities decreased to RMB 47.59 billion in Q1 2023 from RMB 59.14 billion in Q1 2022, a decline of 19.6%[28] - Net cash used in investing activities was RMB 621.01 million in Q1 2023, compared to a net cash outflow of RMB 7.31 billion in Q1 2022[29] Assets and Liabilities - Total assets as of March 31, 2023, were RMB 412.39 billion, a decrease of 1.95% from RMB 420.56 billion at the end of 2022[7] - Total liabilities decreased to RMB 215.53 billion in Q1 2023 from RMB 218.53 billion in Q1 2022[24] - Total owners' equity decreased to RMB 196.86 billion in Q1 2023 from RMB 202.04 billion in Q1 2022[24] - Current liabilities slightly decreased from RMB 85.67 billion to RMB 84.74 billion, a reduction of approximately 1.1%[23] - Long-term borrowings decreased from RMB 123.14 billion to RMB 121.28 billion, a decline of about 1.5%[23] Investments and Returns - Other income increased by 112% year on year, primarily due to increased government grants during the reporting period[10] - Return on investment rose by 129% year on year, driven by higher returns recognized on investments in associates[10] - The company reported a gain on changes in fair value that increased by 131% year on year, attributed to gains on investments in equity instruments[10] - Net cash flow from investment activities increased by 91.51% year on year, mainly due to reduced cash outflows for fixed assets and long-term assets[10] Shareholder Equity and Management - Equity attributable to shareholders decreased by 2.81% to RMB 132.26 billion from RMB 136.09 billion at the end of 2022[7] - The number of restricted shares that can be released is 102,260,780 shares, accounting for 0.2677% of the total share capital[19] - The company plans to implement an Equity Incentive Scheme, which includes both Stock Option and Restricted Stock Incentive Schemes[19] - The company raised a net fund of up to RMB 20 billion through a non-public offering of A-shares in 2021, issuing 3,650,377,019 new shares[19] - The company appointed new senior management members, including Mr. Feng Qiang as Executive Vice President and Mr. Guo Huaping as Senior Vice President and Chief Cultural Officer[21] Current Assets - As of March 31, 2023, total current assets decreased to RMB 135.79 billion from RMB 142.23 billion at the beginning of the year, reflecting a decline of approximately 4.5%[20] - The company's monetary assets decreased from RMB 68.80 billion to RMB 65.98 billion, a reduction of about 4.1%[20] - Accounts receivable decreased from RMB 28.20 billion to RMB 24.90 billion, representing a decline of approximately 11.5%[20]