Cosunter(300436)2024-04-19 15:36Financial Performance - The company's revenue for Q1 2024 was CNY 120,047,604.86, representing a 36.06% increase compared to CNY 88,231,089.07 in the same period last year[5]. - The net loss attributable to shareholders decreased significantly to CNY -14,642,717.07, a 76.87% improvement from CNY -63,308,377.66 year-over-year[5]. - The net cash flow from operating activities improved to CNY -13,220,727.89, an 88.84% increase compared to CNY -118,514,024.25 in the previous year[5]. - The company’s basic and diluted earnings per share improved to CNY -0.0919, a 76.88% increase from CNY -0.3975 in the same period last year[5]. - Net loss for Q1 2024 was CNY 14,706,929.43, compared to a net loss of CNY 70,563,194.81 in Q1 2023, indicating an improvement of 79.1%[22]. - The total comprehensive income attributable to the parent company for Q1 2024 was -14,642,717.07 CNY, compared to -63,308,377.66 CNY in the same period last year, indicating an improvement[23]. Cash Flow and Investments - The company reported a cash balance of RMB 203,460,080.97 as of March 31, 2024, compared to RMB 202,830,792.87 at the beginning of the period[18]. - The company’s cash flow from investing activities improved significantly, with a net cash outflow of CNY -8,304,797.49, a 90.98% improvement from CNY -92,096,714.33 in the previous year[9]. - Cash inflow from sales of goods and services reached 130,270,957.64 CNY, compared to 99,888,498.14 CNY in the previous period[25]. - The company reported a net cash outflow from investing activities of -8,304,797.49 CNY, an improvement from -92,096,714.33 CNY year-over-year[26]. - Cash inflow from financing activities was 22,215,646.81 CNY, down from 301,181,831.14 CNY in the previous year[26]. - The total cash outflow for operating activities was 146,774,641.98 CNY, compared to 222,939,562.39 CNY in the same period last year[26]. Research and Development - Research and development expenses decreased by 84.74% to CNY 7,211,260.72, primarily due to reduced spending on the previously approved innovative drug project[9]. - Research and development expenses significantly decreased to CNY 7,211,260.72 from CNY 47,267,518.06, a reduction of 84.7%[22]. - The company successfully enrolled the first subject in the Phase IIa clinical trial for its innovative hepatitis B treatment drug GST-HG131, marking a significant milestone in its "Hepatitis B Functional Cure Peak Plan"[15]. - The company’s innovative drug GST-HG131 is a first-in-class hepatitis B surface antigen inhibitor, crucial for the treatment of hepatitis B[15]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,179[11]. - The company’s major shareholder, Fujian Aohua Group Co., Ltd., holds a 22.02% stake, with 26,110,000 shares pledged[12]. - The company’s major shareholders include individuals with significant stakes, such as Ye Liqing (8.50%) and Li Guoping (5.65%) with shares also subject to pledges[12]. - The total number of restricted shares decreased from 7,925,224 to 6,755,037 during the reporting period[14]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,592,886,619.45, a slight decrease of 1.34% from CNY 1,614,481,833.09 at the end of the previous year[5]. - Total assets decreased to CNY 1,592,886,619.45 from CNY 1,614,481,833.09, a decline of 1.3%[20]. - Total liabilities decreased to CNY 1,038,348,589.41 from CNY 1,045,236,873.62, a reduction of 0.7%[20]. - The company's total equity decreased to CNY 554,538,030.04 from CNY 569,244,959.47, a decline of 2.6%[20]. Strategic Initiatives - The innovative drug project "Tai Zhong Ding" was approved in November 2023, contributing to the revenue growth and reduced losses in Q1 2024[8]. - The company established a new subsidiary, Guangfu Lai (Beijing) International Biotechnology Co., Ltd., with a registered capital of RMB 50 million, in which the company holds a 70% stake[16]. - The company aims to expand its international business, particularly for its COVID-19 drug, through this new subsidiary[16]. - The company’s strategic focus includes enhancing its comprehensive strength through internationalization and market expansion[16].