GWE(SH:600192)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥481,075,140.31, representing a year-on-year increase of 31.64%[5] - The net profit attributable to shareholders was a loss of ¥13,247,952.81, with a year-on-year increase in loss of 26.66%[5] - Total operating revenue for Q1 2023 was CNY 481,075,140.31, an increase of 31.7% compared to CNY 365,446,731.27 in Q1 2022[19] - Net loss for Q1 2023 was CNY 16,339,362.89, compared to a net loss of CNY 19,358,364.83 in Q1 2022, representing a 10.4% improvement[20] - Total comprehensive loss for Q1 2023 was CNY 20,017,995.00, compared to CNY 24,171,955.45 in Q1 2022, reflecting a reduction in overall losses[20] Cash Flow and Liquidity - The net cash flow from operating activities was ¥94,802,986.37[5] - Operating cash flow for Q1 2023 was CNY 94,802,986.37, a significant recovery from a negative cash flow of CNY 24,261,391.83 in Q1 2022[22] - Cash and cash equivalents at the end of Q1 2023 totaled CNY 375,145,934.87, an increase from CNY 319,322,001.09 at the end of Q1 2022[22] - The company's cash and cash equivalents increased by 49.02%, primarily due to government relocation compensation and increased sales receipts[7] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,159,822,715.49, an increase of 4.76% compared to the end of the previous year[6] - The company's current assets reached RMB 3,828,512,742.01, up from RMB 3,615,038,011.15, indicating an increase of about 5.91%[16] - The total liabilities as of March 31, 2023, were RMB 3,596,305,084.69, compared to RMB 3,341,680,444.10 at the end of 2022, representing a rise of approximately 7.65%[17] - The company's short-term borrowings increased to RMB 1,131,965,720.77 from RMB 1,081,543,922.44, which is an increase of about 4.66%[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 41,987[10] - The total equity attributable to shareholders decreased to RMB 1,549,033,418.84 from RMB 1,565,960,003.76, a decline of approximately 1.02%[17] Research and Development - Research and development expenses rose by 81.25%, reflecting increased investment in R&D activities[8] - Research and development expenses in Q1 2023 were CNY 17,365,857.52, up 81.5% from CNY 9,581,132.91 in Q1 2022, indicating a focus on innovation[19] Expenses and Costs - Total operating costs for Q1 2023 were CNY 510,414,064.63, up 32.4% from CNY 385,847,627.10 in Q1 2022[19] - The company reported a significant increase in sales expenses by 46.41%, attributed to enhanced market expansion efforts[8] Government Support - The company received government subsidies amounting to ¥11,818,818.69, which were closely related to its normal business operations[7] Borrowings - The company's long-term borrowings increased by 66.53%, primarily due to the addition of a ¥100 million bank loan[7] - Financing cash inflow for Q1 2023 was CNY 583,967,555.56, compared to CNY 311,000,000.00 in Q1 2022, indicating increased borrowing activity[22] Litigation - The company has reported a total of 4 ongoing litigation cases involving a total amount of approximately RMB 127 million, with one case involving RMB 41.29 million being classified as contract fraud[13] - The company has made provisions for asset impairment related to the ongoing litigation, as disclosed in their announcement[13]