Financial Performance - The company's revenue for Q1 2023 was ¥295,388,250.03, a decrease of 22.87% compared to ¥382,956,395.74 in the same period last year[5] - The net profit attributable to shareholders was a loss of ¥2,776,984.67, representing a decline of 108.33% from a profit of ¥33,319,217.93 in Q1 2022[5] - The net cash flow from operating activities was negative at ¥64,228,246.35, worsening by 191.41% compared to a negative cash flow of ¥22,040,759.32 in the previous year[5] - In Q1 2023, the company achieved revenue of CNY 295.39 million, a year-on-year decline of 22.87%[20] - The net profit attributable to shareholders was CNY -2.78 million, representing a year-on-year decrease of 108.33%[20] - Total operating revenue for the current period is $295.39 million, a decrease of 22.87% from $382.96 million in the previous period[28] - Net profit for the current period is a loss of $2.78 million, compared to a profit of $33.32 million in the previous period[30] - Basic and diluted earnings per share for the current period are both -$0.0164, down from $0.2628 in the previous period[30] Assets and Liabilities - The total assets at the end of Q1 2023 were ¥2,059,211,777.80, down 6.50% from ¥2,202,380,762.63 at the end of the previous year[5] - The company's total liabilities decreased from RMB 534,992,862.10 to RMB 394,600,861.94 during the same period[26] - The company's cash and cash equivalents decreased from RMB 336,359,794.67 to RMB 301,822,652.32[24] - The company’s non-current assets totaled RMB 825,079,697.45, showing a slight decrease from RMB 828,142,637.86 at the beginning of the year[25] - Cash and cash equivalents at the end of the period increased to $263.67 million, up from $31.31 million at the end of the previous period[32] Operational Highlights - The company reported a significant increase in tax refunds received, amounting to ¥15,380,235.17, a rise of 4498.38% compared to ¥334,471.08 in Q1 2022[13] - Financial expenses decreased by 81.16% to ¥1,739,481.19 from ¥9,234,032.01 in the previous year, primarily due to reduced loan interest payments[11] - The company experienced a 100% increase in fair value gains, reporting ¥369,863.01 compared to no gains in the same period last year, attributed to increased returns from financial products[11] - Short-term borrowings increased by 43.83% to ¥100,017,221.97 from ¥69,540,244.72, indicating a rise in bank loans[10] Strategic Plans - The company plans to enhance its profitability by optimizing product structure and increasing the competitiveness of copper foil and PCB products[20] - The company aims to expand copper foil production capacity and optimize product structure, focusing on high-end electronic circuit copper foil[20] - The project for an annual production of 10,000 tons of high-precision electrolytic copper foil is expected to partially commence production in Q4 2023[20] - The company will accelerate the layout of lithium battery copper foil business, expanding its product range into this area[20] - The company aims to replace high-end products with domestic alternatives to strengthen its core competitiveness[22] - The company will focus on the development of micro LED PCBs and MINI POB PCB manufacturing technology in 2023[22] - In 2023, the company will increase R&D investment in HVLP copper foil production processes, ultra-thin peelable copper foil, and 12OZ ultra-thick copper foil development[22] Shareholder Information - The top shareholder, Ganzhou Yihau Group, holds 52.06% of the shares, totaling 88,022,985 shares[16] - The company has a total of 27,133 common stock shareholders at the end of the reporting period[16] Challenges - The company is facing challenges due to high inventory levels and increased competition in the PCB and upstream copper foil materials market[20] - The company plans to enhance PCB customer certification and strengthen industry synergy to improve production capacity utilization[20] - The company plans to enhance its PCB production capacity and technology innovation in 2023, focusing on applications in industrial automation, smart terminals, Mini LED, smart home, 5G communication, and new energy smart vehicles[21] Cash Flow Activities - Cash inflow from financing activities for the current period is $120.09 million, compared to $94.29 million in the previous period[32] - The company reported a net cash outflow from investment activities of $23.81 million, compared to $18.82 million in the previous period[32] Dividend Proposal - The company reported a cash dividend proposal of RMB 1.10 per 10 shares, totaling RMB 18,597,333.37, based on a total share capital of 169,066,667 shares[22] Audit Status - The company has not undergone an audit for the first quarter report[33]
逸豪新材(301176) - 2023 Q1 - 季度财报