Financial Performance - Operating revenue for Q1 2023 was CNY 83.32 million, a decrease of 11.70% from CNY 94.36 million in Q1 2022[11] - Net profit attributable to shareholders for Q1 2023 was CNY 8.89 million, down 36.28% from CNY 13.95 million in the same period last year[11] - The company reported a net profit margin decline due to reduced revenue, impacting overall profitability metrics[121] - Total operating revenue for Q1 2023 was 62,971,643.75, down from 77,971,956.02 in Q1 2022, representing a decrease of approximately 19.2%[125] - Net profit for Q1 2023 was 8,873,992.92, a decline of 36.1% compared to 13,953,657.24 in Q1 2022[123] - Operating profit for Q1 2023 was 10,457,284.60, down from 16,315,568.86 in Q1 2022, indicating a decrease of about 35.9%[122] - Basic earnings per share for Q1 2023 were 0.0971, down from 0.1524 in Q1 2022, a decrease of about 36.3%[123] Cash Flow - Cash flow from operating activities for Q1 2023 was negative CNY 2.39 million, a decline of 179.04% compared to positive CNY 3.02 million in Q1 2022[12] - Operating cash flow for Q1 2023 was negative at -2,385,670.94 CNY, compared to a positive 3,018,286.00 CNY in Q1 2022, indicating a decline in operational efficiency[128] - Total cash inflow from investment activities decreased to 100,101,323.92 CNY in Q1 2023 from 150,599,750.00 CNY in Q1 2022, reflecting a reduction of approximately 33.5%[129] - Net cash flow from financing activities improved significantly to 12,828,309.62 CNY in Q1 2023, compared to a negative cash flow of -28,169,443.75 CNY in Q1 2022[129] - The company’s cash flow from operating activities showed a net outflow of -2,955,810.86 CNY in Q1 2023, compared to a net inflow of 8,688,334.76 CNY in Q1 2022, indicating a significant operational downturn[131] Assets and Liabilities - Total assets as of March 31, 2023, amounted to CNY 563.11 million, an increase of 1.72% compared to CNY 553.58 million at the end of the previous year[11] - Total liabilities remained stable at CNY 131,118,120.12, slightly up from CNY 131,060,037.16, indicating a marginal increase of 0.04%[115] - Current liabilities totaled CNY 123,818,127.98, showing no significant change from CNY 123,728,417.16 in the previous period[115] - Non-current liabilities totaled CNY 7,299,992.14, a slight decrease from CNY 7,331,620.00, reflecting a reduction of 0.4%[115] - Shareholders' equity increased to CNY 431,991,760.43 from CNY 422,516,667.51, marking a growth of 2.8%[115] Shareholder Information - The total number of unrestricted shares is 25,258,639, accounting for 26.63% of total shares[21] - The total number of restricted shares is 69,592,561, accounting for 73.37% of total shares[21] - The total share capital is 94,851,200 shares[21] - The largest shareholder, Zhou Yan, holds 40,833,600 shares, representing 43.05% of total shares[24] - The second-largest shareholder, Zhang Yuxia, holds 19,707,680 shares, representing 20.78% of total shares[24] - The total number of common shareholders is 8,955[21] - The top ten shareholders collectively hold 71,725,171 shares, representing 75.63% of total shares[24] Incentive Plans and Commitments - The company has granted a total of 3,286,700 shares and stock options to 77 individuals under the equity incentive plan[29] - The total expense to be amortized for the stock incentive plan is 858.90 million CNY, with 80.15 million CNY allocated for 2022[37] - The company’s performance-based criteria for unlocking restricted stocks include a net profit growth rate of no less than 16% from 2021 to 2023, which has not yet been achieved[38] - The company also set a revenue growth target of no less than 15% from 2021 to 2023 for the stock incentive plan, which has not yet been met[39] - The total number of incentive recipients for the stock option plan is 77, including directors, senior management, and core employees[33] Regulatory Compliance and Commitments - The company’s actual controller made an irrevocable commitment to not obstruct fire safety measures during daily operations[40] - All shareholders committed to avoiding any business activities that may compete with the company, both domestically and internationally[40] - The company’s major shareholder pledged to strictly adhere to laws and regulations to prevent any direct borrowing of funds between enterprises[41] - The controlling shareholders committed to a 12-month lock-up period for their shares following the public offering[42] - The company’s commitment to avoid any financial losses due to fund occupation by shareholders was reiterated[41] - The company’s actual controllers agreed to follow any special regulations set by the China Securities Regulatory Commission regarding shareholding and reduction[45] Profit Distribution Policy - The company has established a profit distribution policy ensuring that at least 10% of the distributable profits will be distributed in cash dividends, with a cumulative distribution of at least 30% over the last three years[73] - The company will prioritize cash dividends over stock dividends in its profit distribution strategy[71] - The company aims to distribute profits at least once per fiscal year, with cash distributions prioritized unless there are negative retained earnings or net losses for the year[77] - The board will propose annual profit distribution plans based on the company's articles of association, profitability, and funding needs, requiring a majority vote from all directors to submit to the shareholders' meeting[78] Legal and Compliance Issues - There are no significant legal disputes or external guarantees reported during the period[27] - The company guarantees that the public offering prospectus and other disclosure materials do not contain false records, misleading statements, or major omissions, and assumes legal responsibility for their authenticity, accuracy, and completeness[88] - If the company fails to fulfill its commitments, it will publicly explain the reasons and apologize to shareholders and investors, and may provide supplementary or alternative commitments to protect investor rights[89]
吉冈精密(836720) - 2023 Q1 - 季度财报