Financial Performance - The company's operating revenue for Q1 2023 was ¥327,312,287.87, a decrease of 26.73% compared to ¥446,748,878.97 in the same period last year[4] - The net profit attributable to shareholders for Q1 2023 was ¥20,168,741.47, down 60.62% from ¥51,213,276.95 in the previous year[4] - The total operating costs for Q1 2023 were CNY 310,528,446.52, down 20.8% from CNY 392,289,669.15 in Q1 2022[26] - Operating profit for Q1 2023 was CNY 22,679,275.21, down 61.8% from CNY 59,460,827.20 in the same period last year[27] - The net profit for Q1 2023 was CNY 20,168,741.47, a decrease of 60.7% compared to CNY 51,213,276.95 in Q1 2022[27] - The company reported a basic and diluted earnings per share of CNY 0.10 for Q1 2023, down from CNY 0.29 in Q1 2022[28] Cash Flow and Liquidity - The net cash flow from operating activities was -¥214,623,737.00, a decline of 259.04% compared to ¥134,949,982.84 in Q1 2022[4] - Cash and cash equivalents decreased to CNY 165,624,801.51 from CNY 618,640,714.98 at the beginning of the year, a decline of 73.3%[22] - The cash flow from operating activities in Q1 2023 showed a net outflow of CNY 214,623,737.00, compared to a net inflow of CNY 134,949,982.84 in Q1 2022[31] - Total cash and cash equivalents at the end of Q1 2023 were CNY 165,353,471.80, a decrease from CNY 679,666,006.88 at the end of Q1 2022[31] - Cash and cash equivalents decreased by CNY 1,004.2893 million, a decrease of 182.04%, mainly due to reduced cash flow from financing and operating activities[13] Assets and Liabilities - The total assets at the end of Q1 2023 were ¥3,232,730,370.61, a decrease of 4.81% from ¥3,396,143,582.14 at the end of the previous year[4] - The total current assets decreased to CNY 961,112,528.08 from CNY 1,128,847,808.58 at the beginning of the year, reflecting a reduction of 14.9%[23] - The company's total liabilities decreased to CNY 221,782,518.78 from CNY 404,839,788.48, indicating a significant reduction of 45.4%[24] - The total equity attributable to shareholders increased to CNY 3,010,947,851.83 from CNY 2,991,303,793.66, showing a growth of 0.7%[24] Inventory and Production - Inventory increased by 49.20% to ¥203,676,026.77, reflecting the company's strategy to increase stockpiles due to production needs and market price changes[10] - The new production project for 300,000 tons of polystyrene new materials officially commenced production in March 2023, increasing the total polystyrene production capacity to 350,000 tons per year[20] - The company is now the largest producer of polystyrene new materials in South China and ranks fourth nationwide[20] Other Income and Expenses - The company reported a significant increase in other income, which rose by 1853.27% to ¥1,562,562.55 compared to ¥79,997.23 in the same period last year[9] - The company incurred financial expenses of CNY -12,559,520.23 in Q1 2023, compared to CNY -9,369,828.39 in Q1 2022[27] - Research and development expenses for Q1 2023 were CNY 3,747,216.37, down from CNY 4,565,401.79 in Q1 2022[27] - The company experienced a 197.80% increase in taxes payable, amounting to ¥5,267,786.88, primarily due to increased corporate income tax[11] - Financial expenses decreased by CNY 3.1897 million, a reduction of 34.04%, mainly due to increased cash management income[12] - Other income increased by CNY 1.4826 million, an increase of 1,853.27%, primarily due to increased government subsidies[12]
星辉环材(300834) - 2023 Q1 - 季度财报