Sunnypol(002876)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥425,645,217.76, a decrease of 22.92% compared to ¥552,244,871.76 in the same period last year[2] - Net profit attributable to shareholders was ¥12,222,586.87, down 81.98% from ¥67,822,471.65 year-on-year[2] - The basic earnings per share dropped to ¥0.07, down 82.05% from ¥0.39 in the same period last year[3] - Net profit for Q1 2023 was CNY 12.52 million, significantly lower than CNY 71.80 million in the same period last year, representing an 82.5% decline[22] - Earnings per share for Q1 2023 were CNY 0.07, compared to CNY 0.39 in the previous year[22] Cash Flow - The net cash flow from operating activities was -¥109,603,868.79, representing a decline of 660.53% compared to -¥14,411,428.73 in the previous year[2] - The net cash flow from operating activities for Q1 2023 was -109,603,868.79 CNY, compared to -14,411,428.73 CNY in Q1 2022, indicating a significant decline in operational cash flow[24] - Total cash inflow from investment activities was 362,843,789.04 CNY, while cash outflow was 372,187,534.14 CNY, resulting in a net cash flow of -9,343,745.10 CNY for the investment activities[24] - The net cash flow from financing activities was 9,753,726.83 CNY, a recovery from -278,811,808.27 CNY in the previous year, showing improved financing conditions[25] - The total cash and cash equivalents at the end of Q1 2023 stood at 222,406,994.27 CNY, down from 610,439,951.63 CNY at the end of Q1 2022[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,742,560,229.75, a decrease of 1.41% from the previous year[3] - The company's total current assets amount to 2,142,942,037.49 CNY, a decrease from 2,171,589,888.81 CNY at the beginning of the year[16] - The total liabilities decreased to CNY 1.39 billion from CNY 1.46 billion year-over-year[21] - The total equity increased to CNY 2.35 billion from CNY 2.33 billion in the previous period[21] - The company's fixed assets are valued at 1,057,142,903.18 CNY, a decrease from 1,111,414,304.64 CNY[17] Operational Insights - The company experienced a 60.86% reduction in income tax expenses, amounting to ¥6,059,751.30, due to lower profits[10] - The company’s management indicated that industry demand remains weak, contributing to the decline in sales revenue[4] - The company plans to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[4] - The company plans to focus on market expansion and new product development in the upcoming quarters[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 25,372[13] - The largest shareholder, Zhang Jianjun, holds 18.92% of shares, totaling 32,898,092 shares, with 13,564,000 shares pledged[13] Research and Development - Research and development expenses for Q1 2023 were CNY 29.84 million, slightly down from CNY 31.22 million year-over-year[21] Inventory and Receivables - The company's inventory stands at 600,644,852.32 CNY, slightly up from 587,675,114.67 CNY[16] - The company reported a significant increase in accounts receivable financing, rising by 676.34% to ¥149,194,007.27 due to undiscounted bank acceptance bills received[10] - The company has a total of 149,194,007.27 CNY in receivables financing, significantly up from 19,217,596.56 CNY[16] Audit Information - The company did not conduct an audit for the Q1 2023 report, as indicated in the documentation[26]