GREAT MICROWAVE(688270)2023-04-24 16:00Revenue and Profit Growth - Revenue for the first quarter of 2023 was RMB 41,659,663.54, an increase of 33.01% compared to the same period last year[7] - Net profit attributable to shareholders of the listed company was RMB 7,240,256.21, an increase of 4.67% year-on-year[7] - Total operating revenue for Q1 2023 was RMB 41.66 million, a 33% increase compared to RMB 31.32 million in Q1 2022[32] - Net profit attributable to shareholders in Q1 2023 was RMB 7.24 million, a 4.7% increase from RMB 6.92 million in Q1 2022[35] - Revenue increased by 33.01% due to business expansion and optimization of income structure, along with active development of new products and customers[49] - Net profit attributable to shareholders of the listed company increased by 4.67%, driven by business growth and increased R&D expenses[49] R&D Investment - R&D investment totaled RMB 22,796,449.53, an increase of 94.88% compared to the same period last year, accounting for 54.72% of revenue[21] - R&D expenses in Q1 2023 were RMB 22.80 million, a 94.9% increase from RMB 11.70 million in Q1 2022[32] - R&D expenses surged by 94.88% due to increased investment in R&D, including employee compensation and material costs[49] - R&D expenses increased from 4,290,967.18 to 7,788,940.16[66] Assets and Liabilities - Total assets as of March 31, 2023 were RMB 2,155,421,630.71, a slight decrease of 0.61% compared to the end of the previous year[21] - Total assets decreased slightly to RMB 2.16 billion in Q1 2023 from RMB 2.17 billion in Q1 2022[32] - Total liabilities decreased by 25.7% to RMB 59.60 million in Q1 2023 from RMB 80.17 million in Q1 2022[31] - Total equity attributable to shareholders increased slightly to RMB 2.10 billion in Q1 2023 from RMB 2.09 billion in Q1 2022[32] - Total assets decreased from 1,859,677,770.98 to 1,849,997,499.58[64] - Long-term equity investments decreased from 331,352,854.55 to 327,991,210.79[64] - Fixed assets increased from 20,847,508.62 to 24,676,713.61[64] Cash Flow and Financial Position - Monetary funds stood at RMB 1,629,219,865.36 as of March 31, 2023, a decrease from RMB 1,675,805,892.94 at the end of 2022[16] - Cash flow from operating activities decreased by 8% to RMB 33.79 million in Q1 2023 compared to RMB 36.73 million in Q1 2022[36] - Net cash received from securities brokerage activities was -29,040,409.19 RMB, a significant decrease compared to the previous period[38] - Total cash inflow from operating activities was 44,440,222.80 RMB, while cash outflow was 73,480,631.99 RMB, resulting in a net cash outflow of -29,040,409.19 RMB[38] - Cash paid for employee compensation and benefits increased to 25,730,366.90 RMB, up from 18,154,865.77 RMB in the previous period[38] - Cash received from investment activities was 120,432,321.10 RMB, primarily from the recovery of investments[38] - Cash outflow from investment activities was 17,545,618.39 RMB, mainly for the purchase of fixed assets and intangible assets[38] - Cash inflow from financing activities was 1,689,942,800.00 RMB, largely due to the absorption of investment[39] - Net cash flow from financing activities was 1,534,325,982.57 RMB, reflecting strong fundraising efforts[39] - The company's cash and cash equivalents at the end of the period were 1,629,219,265.36 RMB, slightly down from the beginning of the period[39] - Investment activities generated a net cash flow of 4,431,821.55, compared to -259,262,073.12 previously[70] - Financing activities generated a net cash flow of 1,534,325,982.57[70] - Cash and cash equivalents decreased by 3,338,426.43, ending at 1,391,282,046.79[70] Shareholder Information - The company's largest shareholder is China Construction Bank - E Fund Defense and Military Industry Mixed Securities Investment Fund, holding 4.91 million shares[25] - Total number of ordinary shareholders at the end of the reporting period was 6,225[49] - The largest shareholder, Yu Faxin, holds 21.04% of the shares[49] - China Construction Bank - E Fund National Defense and Military Industry Mixed Securities Investment Fund holds 4.50% of the shares[50] - Hangzhou Zhenlei Investment Partnership holds 3.94% of the shares[50] - Guotou Venture Capital Management - Guotou (Ningbo) Technology Achievement Transformation Venture Investment Fund holds 3.53% of the shares[50] Expenses and Costs - Sales expenses rose by 65.58% due to increased employee compensation and market expansion costs[49] - Management expenses increased by 41.27% as a result of expanded management scale and higher employee compensation[49] - The company's financial expenses showed a significant improvement, with a net financial income of RMB 9.93 million in Q1 2023 compared to RMB 0.79 million in Q1 2022[32] - Operating income decreased from 5,360,672.42 to 4,673,379.99[66] - Net profit loss was -3,812,871.51 compared to -3,567,695.54 in the previous period[68] Accounts Receivable and Inventory - Accounts receivable increased to RMB 255,314,521.85 as of March 31, 2023, compared to RMB 252,826,009.37 at the end of 2022[16] - Inventory increased to RMB 87,180,026.62 as of March 31, 2023, up from RMB 71,724,918.91 at the end of 2022[17] - Accounts receivable decreased to 58,447,130.55 RMB from 60,423,540.20 RMB, indicating improved collection efficiency[39] - Inventory increased to 14,567,953.08 RMB from 12,954,631.77 RMB, suggesting higher stock levels[39] Fixed Assets and Investments - Fixed assets grew to RMB 47,115,454.54 as of March 31, 2023, compared to RMB 39,587,182.41 at the end of 2022[17] - Fixed assets increased from 20,847,508.62 to 24,676,713.61[64] Non-Recurring Items - Non-recurring gains and losses for the period amounted to RMB 889,441.26, mainly consisting of government subsidies of RMB 901,500.00[22] Earnings Per Share - Basic earnings per share (EPS) for Q1 2023 remained stable at RMB 0.07, the same as Q1 2022[35] Return on Equity - The company's weighted average return on equity (ROE) was 0.35%, a decrease of 0.11 percentage points compared to the same period last year[21]