Financial Performance - The company's revenue for Q1 2023 reached ¥761.86 million, a significant increase of 553.22% compared to ¥116.63 million in the same period last year[5]. - Net profit attributable to shareholders was ¥52.63 million, up 116.39% from ¥24.32 million year-on-year[5]. - The net profit after deducting non-recurring gains and losses was ¥51.70 million, representing a 226.78% increase from ¥15.82 million in the previous year[5]. - The company's basic earnings per share rose to ¥0.3429, an increase of 116.34% compared to ¥0.1585 in the previous year[5]. - Operating profit for the quarter was ¥47,914,269.92, compared to ¥24,368,385.01 in the same period last year, indicating a year-over-year increase of about 96.5%[25]. - Net profit attributable to the parent company was ¥52,633,490.70, up from ¥24,323,027.38, reflecting a growth of approximately 116.5%[26]. - Earnings per share (EPS) increased to 0.3429 from 0.1585, marking an increase of about 116.5%[26]. Assets and Liabilities - The company's total assets increased by 22.00% to ¥1.45 billion from ¥1.19 billion at the end of the previous year[5]. - As of March 31, 2023, the company's total assets amounted to CNY 1,450,823,960.64, an increase from CNY 1,189,244,509.35 at the beginning of the year, reflecting a growth of approximately 22%[20]. - Total liabilities increased to CNY 728,220,054.15 from CNY 516,855,208.59, indicating a rise of approximately 40.7%[22]. - The company's equity attributable to shareholders rose to CNY 722,853,023.18 from CNY 668,183,074.98, reflecting an increase of about 8.2%[22]. - The company’s non-current liabilities rose to CNY 221,495,675.02 from CNY 185,364,828.06, indicating an increase of about 19.5%[22]. Cash Flow - Cash flow from operating activities was ¥29.51 million, down 31.06% from ¥42.80 million in the same period last year[5]. - The net cash flow from operating activities was ¥29.51 million, a decrease of 31.06% from ¥42.80 million in Q1 2022, attributed to higher outflows in the developing snack business[11]. - Cash flow from operating activities generated a net cash inflow of ¥29,509,230.84, down from ¥42,803,710.97 in the previous year[27]. - Investment activities resulted in a net cash outflow of ¥32,936,845.10, compared to a net outflow of ¥135,255,212.17 in the previous year[28]. - Financing activities generated a net cash inflow of ¥97,089,518.02, compared to a net outflow of ¥13,209,627.60 in the same period last year[28]. Inventory and Borrowings - The company's inventory increased by 86.61% to ¥186.81 million, primarily due to increased stock for the bulk snack business[10]. - Short-term borrowings rose by 63.31% to ¥242.30 million, attributed to increased working capital needs[10]. - The company’s short-term borrowings increased to CNY 242,301,225.52 from CNY 148,367,167.49, which is an increase of approximately 63.3%[21]. Operating Costs and Expenses - Operating costs surged to ¥643.78 million, up 588.67% from ¥93.48 million in the same period last year, primarily due to increased sales costs from the snack business[11]. - The company reported a total operating cost of ¥715,274,945.50, up from ¥100,772,954.40, which is an increase of about 608.5%[23]. - Sales expenses skyrocketed by 5271.38% to ¥35.31 million, reflecting the expansion of the snack business[11]. - The tax expenses increased significantly due to the snack business, with a reported tax expense of ¥1.88 million[11]. Business Expansion and Projects - The company is focusing on rapid business expansion in the snack sector, which is still in its early development stage[11]. - The company completed a 53,000-ton mushroom production project, which is expected to enhance production capacity moving forward[11]. - The company approved a restricted stock incentive plan on March 23, 2023, aimed at enhancing employee motivation and retention[18]. - The company is in the process of issuing A-shares to specific investors, with the plan progressing smoothly as of the report date[18]. Other Financial Metrics - The weighted average return on equity improved to 7.58%, up from 3.65% year-on-year[5]. - Investment income fell by 92.19% to ¥62,628.94, primarily due to reduced purchases of financial products[11]. - The company reported a net loss attributable to minority shareholders of ¥249,116.69, a decrease of 105.92% due to ongoing losses in the snack business[11]. - The company did not report any new product launches or significant market expansion strategies during this quarter[29].
万辰集团(300972) - 2023 Q1 - 季度财报