Cathay Biotech (688065)2023-04-26 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥505,446,207.40, representing a decrease of 23.56% compared to the same period last year[4] - The net profit attributable to shareholders was ¥57,441,388.49, down 67.09% year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥45,784,034.69, a decline of 72.83% compared to the previous year[4] - The net cash flow from operating activities was ¥79,246,727.84, reflecting a decrease of 45.14% year-on-year[4] - Total revenue for Q1 2023 was ¥505.45 million, a decrease of 23.5% compared to ¥661.27 million in Q1 2022[18] - Operating profit for Q1 2023 was ¥79.09 million, down 63.3% from ¥215.52 million in Q1 2022[20] - Net profit for Q1 2023 was ¥71.85 million, a decline of 62.5% compared to ¥191.35 million in Q1 2022[20] - Cash flow from operating activities for Q1 2023 was ¥79.25 million, down 45.1% from ¥144.46 million in Q1 2022[23] - Cash received from sales of goods and services was ¥485.11 million in Q1 2023, a decrease of 21.0% from ¥614.01 million in Q1 2022[22] - Total operating costs for Q1 2023 were ¥441.82 million, slightly down by 1.8% from ¥449.65 million in Q1 2022[18] - Basic earnings per share for Q1 2023 were ¥0.10, down from ¥0.30 in Q1 2022[21] - Investment income for Q1 2023 was a loss of ¥1.33 million, compared to a loss of ¥0.81 million in Q1 2022[20] - Other income for Q1 2023 was ¥14.65 million, an increase of 117.5% from ¥6.76 million in Q1 2022[18] Assets and Liabilities - The total assets at the end of the reporting period were ¥18,199,553,058.74, an increase of 2.09% from the end of the previous year[5] - As of March 31, 2023, the total assets of the company amounted to ¥18,199,553,058.74, an increase from ¥17,827,280,594.67 at the end of 2022, reflecting a growth of approximately 2.08%[14] - The company's current assets totaled ¥8,273,543,291.51, down from ¥8,475,498,571.63, indicating a decrease of about 2.4%[15] - The cash and cash equivalents were reported at ¥6,089,118,605.06, a decrease from ¥6,294,603,629.16, representing a decline of approximately 3.25%[14] - The company's total liabilities increased to ¥3,085,297,996.81 from ¥2,789,068,039.70, marking an increase of about 10.65%[16] - The total equity attributable to shareholders rose to ¥11,010,586,170.23 from ¥10,948,955,346.19, reflecting an increase of approximately 0.56%[17] - The company's accounts receivable decreased to ¥338,722,525.06 from ¥390,400,888.63, a decline of about 13.24%[14] - The inventory value was reported at ¥1,557,074,504.08, slightly down from ¥1,573,637,818.64, indicating a decrease of approximately 1.06%[15] - The short-term borrowings increased significantly to ¥426,517,380.00 from ¥161,469,940.15, representing a rise of about 163.5%[16] - The company's long-term borrowings stood at ¥985,500,000.00, up from ¥960,500,000.00, reflecting an increase of approximately 2.6%[16] - The retained earnings increased to ¥1,864,690,738.17 from ¥1,807,249,349.68, showing a growth of about 3.16%[17] Research and Development - R&D investment totaled ¥49,700,532.11, which is 28.16% higher than the previous year, accounting for 9.83% of operating revenue, an increase of 3.97 percentage points[5] Government Support - The company received government subsidies amounting to ¥14,369,756.68 during the reporting period[6] Other Financial Activities - Cash outflow from investing activities for Q1 2023 was ¥588.14 million, compared to ¥1,058.05 million in Q1 2022[23] - The net cash flow from financing activities was 22.28 million in the previous period[24] - The total cash and cash equivalents at the end of the period amounted to 8.21 billion year-over-year[24] - The cash and cash equivalents decreased by 940.91 million in the same period last year[24] - The impact of exchange rate changes on cash and cash equivalents was a negative 5.03 million in the previous year[24] - The total cash outflow from financing activities was 308.59 million in the previous period[24] Profit Decline Reasons - The decline in net profit was primarily due to decreased sales of the long-chain dicarboxylic acid series and increased one-time expenses and R&D costs[7]