LYFEN(SH:603777)2023-04-26 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 1,212,468,282.54, a decrease of 7.80% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 71,213,415.26, down 23.04% year-on-year[5] - The net profit after deducting non-recurring gains and losses was CNY 62,832,942.22, reflecting a decline of 27.02%[5] - Basic and diluted earnings per share were both CNY 0.21, down 22.92% year-on-year[6] - Total revenue for Q1 2023 was ¥1,212,468,282.54, a decrease of 7.8% compared to ¥1,315,002,808.95 in Q1 2022[21] - Net profit for Q1 2023 was ¥71,220,895.25, a decline of 23.1% from ¥92,528,482.08 in Q1 2022[22] - Basic and diluted earnings per share for Q1 2023 were both ¥0.21, compared to ¥0.28 in Q1 2022[23] Cash Flow - The net cash flow from operating activities was CNY 53,533,869.68, a significant drop of 66.10% compared to the previous year[5] - Cash inflow from operating activities in Q1 2023 was ¥1,373,964,372.07, down from ¥1,490,347,701.21 in Q1 2022, indicating a decrease of 7.8%[23] - The net cash flow from operating activities for Q1 2023 was $53,533,869.68, a decrease of 66% compared to $157,939,098.80 in Q1 2022[24] - The total cash outflow from investing activities was $424,341,680.77, an increase of 55% from $274,250,852.13 in the previous year[24] - The net cash flow from investing activities was -$303,838,747.91, worsening from -$78,564,820.20 in Q1 2022[24] - The cash flow from financing activities resulted in a net outflow of -$67,826,151.26, compared to -$81,559,568.94 in the same quarter last year[24] - The cash inflow from financing activities was $41,546,289.05, significantly higher than $13,028,026.20 in Q1 2022[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,474,378,726.82, a decrease of 5.81% from the end of the previous year[6] - As of March 31, 2023, the company's total assets amounted to approximately RMB 3.47 billion, a decrease from RMB 3.69 billion as of December 31, 2022, reflecting a decline of about 5.8%[16] - The company's cash and cash equivalents stood at RMB 1.00 billion, down from RMB 1.32 billion at the end of 2022, indicating a decrease of approximately 24%[16] - The total current assets decreased to RMB 1.85 billion from RMB 2.21 billion, representing a decline of about 16.6%[17] - The total liabilities decreased to ¥1,565,629,831.53 in Q1 2023 from ¥1,877,259,477.21 in Q1 2022, a decline of 16.6%[21] - Total equity increased to ¥1,908,748,895.29 in Q1 2023 from ¥1,811,409,737.19 in Q1 2022, reflecting a growth of 5.4%[21] Expenses - Research and development expenses increased by 404.49%, primarily due to higher investments in information technology[7] - Research and development expenses increased to ¥3,664,908.89 in Q1 2023, compared to ¥726,454.56 in Q1 2022, marking a significant rise of 404.5%[21] - Sales expenses decreased to ¥301,466,988.71 in Q1 2023 from ¥320,542,359.01 in Q1 2022, a reduction of 5.9%[21] - The company reported a decrease in tax expenses to ¥14,205,548.35 in Q1 2023 from ¥15,025,670.05 in Q1 2022, a reduction of 5.4%[22] Shareholder and Employee Matters - The number of ordinary shareholders at the end of the reporting period was 25,032[9] - The first phase of the employee stock ownership plan was completed, with 2,135,742 shares transferred, representing approximately 0.63% of the total share capital[14] - The company decided to terminate the first phase of the employee stock ownership plan early due to unmet performance targets for 2022[14] - The company plans to focus on maintaining shareholder and employee interests while evaluating future strategies[12] Inventory and Accounts - Inventory levels dropped significantly to RMB 239.54 million from RMB 379.29 million, a reduction of approximately 36.9%[16] - Accounts payable decreased to RMB 473.37 million from RMB 702.64 million, reflecting a decline of about 32.6%[17] - The company reported a total of 71,087,862 in accounts receivable, down from 77,797,999, indicating a decrease of approximately 8.9%[16]