2023-05-11 16:00Financial Performance - Q1 2023 revenue was CNY 10,208,898, a decrease of 13.9% year-over-year[6] - Net profit attributable to shareholders was CNY 1,591,324, down 44.0% compared to the same period last year[6] - Total revenue for Q1 2023 was CNY 10,208,898, a decrease of 13.8% compared to CNY 11,854,010 in Q1 2022[21] - Net profit for Q1 2023 was CNY 1,899,721, down 47.9% from CNY 3,650,392 in Q1 2022[21] - The net profit for Q1 2023 was CNY 1,838,878 thousand, a decrease from CNY 3,618,723 thousand in Q1 2022, representing a decline of approximately 49.2%[22] - The net profit attributable to shareholders of the parent company was CNY 1,591,324 thousand, down from CNY 2,843,451 thousand, reflecting a decrease of about 44.1%[22] - The total comprehensive income for Q1 2023 was CNY -389,601 thousand, compared to CNY 3,480,644 thousand in Q1 2022, indicating a significant decline[22] Research and Development - R&D expenditure totaled CNY 1,154,235, representing 11.3% of revenue, an increase of 2.4 percentage points year-over-year[6] - R&D expenses in Q1 2023 amounted to CNY 1,154,235, up from CNY 1,050,563 in Q1 2022, reflecting a growth of 9.9%[21] Future Outlook - The company expects Q2 2023 revenue to increase by 5% to 7% quarter-over-quarter, with a gross margin between 19% and 21%[4] - The company maintains a full-year guidance of a low double-digit percentage decline in revenue year-over-year, with a gross margin around 20%[5] - The average wafer price is expected to decline quarter-over-quarter due to changes in product mix[5] Sales and Production - The total number of wafers sold in Q1 2023 was 1,251,715, a decrease from 1,840,189 in Q1 2022[11] - Capacity utilization rate in Q1 2023 was 68.1%, down from 100.4% in Q1 2022[11] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 308,075, with HKSCC NOMINEES LIMITED holding 53.18% of the shares[13] - The company has issued a total of 5,960,894,822 shares in Hong Kong, accounting for 75.3% of the total share capital, and 1,957,402,720 shares on the Shanghai Stock Exchange, accounting for 24.7%[13] - The top three shareholders include HKSCC NOMINEES LIMITED with 4,210,635,820 shares (53.18%), 大唐控股（香港）投资有限公司 with 1,116,852,595 shares (14.10%), and 鑫芯（香港）投资有限公司 with 617,214,804 shares (7.79%)[14] - The company has not reported any significant changes in shareholder relationships or actions among the top shareholders[16] - The company has not disclosed any participation in margin trading or securities lending by the top shareholders[16] Income and Cash Flow - The company reported a total non-operating income of RMB 715,451,000 for the current period, with government subsidies contributing RMB 382,863,000 and fair value changes from financial assets yielding RMB 141,919,000[12] - The total amount of non-operating income from joint ventures and associates was RMB 329,256,000, after tax effects and minority interests[12] - Cash flow from operating activities for Q1 2023 was CNY 5,300,145 thousand, down from CNY 10,413,790 thousand in Q1 2022, a decrease of approximately 49.1%[23] - Cash inflow from investment activities was CNY 22,055,556 thousand, significantly higher than CNY 6,129,126 thousand in Q1 2022, marking an increase of about 260.5%[23] - The net cash flow from financing activities for Q1 2023 was CNY 5,978,978 thousand, compared to CNY 887,187 thousand in Q1 2022, an increase of approximately 574.5%[24] - The cash and cash equivalents at the end of Q1 2023 totaled CNY 59,954,690 thousand, up from CNY 38,774,673 thousand at the end of Q1 2022, reflecting an increase of about 54.5%[24] - The company experienced a net increase in cash and cash equivalents of CNY 11,671,993 thousand in Q1 2023, compared to a decrease of CNY 15,868,735 thousand in Q1 2022[24] Assets and Liabilities - Cash and cash equivalents as of March 31, 2023, were CNY 77,678,300, an increase of 3.7% from CNY 74,921,998 at the end of 2022[18] - Total assets as of March 31, 2023, reached CNY 310,095,359, up from CNY 305,103,691 at the end of 2022[20] - Total liabilities increased to CNY 106,298,316 as of March 31, 2023, compared to CNY 103,398,978 at the end of 2022[20] - Inventory as of March 31, 2023, was CNY 14,573,330, an increase of 9.5% from CNY 13,312,746 at the end of 2022[18] - Short-term borrowings rose significantly to CNY 9,301,817 in Q1 2023, compared to CNY 4,519,383 at the end of 2022, marking an increase of 105.5%[19] - Non-current assets totaled CNY 192,240,866 as of March 31, 2023, compared to CNY 189,531,711 at the end of 2022, reflecting a growth of 1.4%[19]