SGSG(300561)2023-04-24 16:00Financial Performance - The company's revenue for Q1 2023 was ¥40,709,819.83, representing a 0.99% increase compared to ¥40,308,881.91 in the same period last year[5] - Net profit attributable to shareholders decreased by 64.41% to ¥2,091,171.15 from ¥5,876,122.52 year-on-year[5] - Basic and diluted earnings per share both decreased by 50.00% to ¥0.01 from ¥0.02 year-on-year[5] - Operating profit for Q1 2023 decreased to CNY 1,908,359.46 from CNY 6,279,914.06, indicating a decline of 69.6% year-over-year[24] - The total revenue for Q1 2023 was 1,931,088.06 CNY, a decrease from 6,279,652.66 CNY in the same period last year, representing a decline of approximately 69.4%[25] - The net profit for Q1 2023 was 2,090,821.13 CNY, compared to a net profit of 5,876,200.58 CNY in Q1 2022, indicating a decrease of about 64.5%[25] Cash Flow and Liquidity - The net cash flow from operating activities improved by 70.95%, reaching -¥3,995,992.44, compared to -¥13,754,598.21 in the previous year[5] - Cash flow from operating activities showed a net outflow of -3,995,992.44 CNY, an improvement from -13,754,598.21 CNY in the previous year, reflecting a reduction in cash burn of approximately 70.9%[28] - Cash flow from investing activities generated a net inflow of 10,526,402.17 CNY, compared to a net outflow of -17,217,796.39 CNY in the same period last year, marking a significant turnaround[29] - The total cash and cash equivalents at the end of Q1 2023 stood at 28,442,024.32 CNY, an increase from 17,406,992.11 CNY at the end of Q1 2022[29] - Cash and cash equivalents at the end of the period increased to CNY 31,608,646.34 from CNY 25,073,571.69, representing a growth of 26%[21] Assets and Liabilities - Total assets decreased by 4.01% to ¥701,585,441.51 from ¥730,897,931.58 at the end of the previous year[5] - Total liabilities decreased to CNY 51,101,658.77 from CNY 64,862,412.21, reflecting a reduction of 21.3%[23] - Non-current assets increased to CNY 468,168,740.98 from CNY 434,148,864.05, showing a growth of 7.8%[22] - Inventory decreased to CNY 47,301,657.99 from CNY 53,206,625.06, a decline of 11.1%[21] - Accounts receivable rose to CNY 96,357,331.66 from CNY 87,730,746.50, marking an increase of 9.3%[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 27,315[11] - The top shareholder, Chen Zhe, holds 35.37% of the shares, totaling 116,043,803 shares[11] - The major shareholders include Chen Zhe with 29,010,951 shares and Ma Zheng with 15,178,869 shares, both holding common shares[12] - The company reported a total of 94,007,119 shares of restricted stock at the beginning of the period, with 6,974,267 shares released during the period, leaving 87,032,852 shares at the end[14] - The company has a total of 132,594,775 shares of restricted stock remaining after the recent releases[15] Business Developments - The company completed the registration of its new business address on January 16, 2023, moving to "199 Dingxing Road, Building 1, 9-15 Floors, Zhuhai High-tech Zone"[17] - The company plans to transfer a total of 65,621,595 shares to Zibo High-tech State-owned Capital Investment Co., Ltd. in two phases, which will change the controlling shareholder[18] - Zibo High-tech State-owned Capital Investment Co., Ltd. has received approval to acquire control of the company, which includes the purchase of 20% of the shares[19] - The company is in the process of issuing 46,337,646 shares to Zibo High-tech State-owned Capital Investment Co., Ltd. as part of the control transfer agreement[19] - The company’s major shareholders have agreed to relinquish their voting rights on the remaining shares during the transfer process[18] - The company is actively monitoring the progress of the share transfer and will keep investors informed of any developments[19] Operational Performance - Operating costs increased by 30.42% compared to the same period last year, primarily due to intensified market competition[9] - Total operating costs for Q1 2023 were CNY 39,439,576.15, up from CNY 36,624,098.06, reflecting a year-over-year increase of 7.5%[24] - The company incurred operating expenses of 38,264,529.31 CNY in Q1 2023, a decrease from 40,823,550.98 CNY in Q1 2022, representing a reduction of about 6.3%[28] - The company reported a net loss from credit impairment of CNY 1,889,265.89 compared to a loss of CNY 223,707.27 in the previous year[24] - The company did not report any new product launches or significant technological advancements during this quarter[25] - There were no mergers or acquisitions reported in the first quarter of 2023[25]