GUOTONG PP(SH:600444)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 128,697,490.99, representing a decrease of 32.06% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 9,713,108.01, an increase of 5.77% year-on-year[5] - The net cash flow from operating activities was negative at CNY -27,490,814.43, a decline of 164.65% compared to the previous year[5] - Basic earnings per share for the period was CNY 0.066, reflecting a growth of 4.76%[6] - The company reported a net profit margin decline due to reduced revenue and increased costs, impacting overall profitability[19] - In Q1 2023, the company reported a net profit of CNY 9,713,108.01, an increase from CNY 9,183,179.74 in Q1 2022, representing a growth of approximately 5.8%[21] - The company’s total profit for Q1 2023 was CNY 10,380,731.84, a decrease from CNY 11,023,772.60 in Q1 2022, representing a decline of approximately 5.8%[21] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,103,683,314.05, down 3.84% from the end of the previous year[6] - Total assets decreased to RMB 1,103,683,314.05 as of March 31, 2023, from RMB 1,147,763,828.94 at the end of 2022[17] - Total liabilities decreased to RMB 433,434,262.76 as of March 31, 2023, from RMB 487,577,056.88 at the end of 2022[17] - The company's total equity increased to RMB 670,249,051.29 as of March 31, 2023, compared to RMB 660,186,772.06 at the end of 2022[17] Cash Flow - The company's cash and cash equivalents as of March 31, 2023, were RMB 299,554,309.99, a decrease from RMB 327,189,809.83 at the end of 2022[15] - The company experienced a net cash outflow from operating activities of CNY -27,490,814.43, compared to a net inflow of CNY 42,524,003.65 in Q1 2022[24] - Investment activities resulted in a net cash outflow of CNY -100,118,001.00, a significant decrease from a net inflow of CNY 30,437,834.04 in the previous year[24] - The company’s cash and cash equivalents at the end of Q1 2023 were CNY 107,497,087.78, down from CNY 173,368,750.33 at the end of Q1 2022, reflecting a decrease of approximately 38%[25] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 13,080[12] - The largest shareholder, Hefei General Machinery Research Institute Co., Ltd., holds 36.82% of the shares[12] Operating Costs and Expenses - Total operating costs for Q1 2023 were RMB 119,218,348.04, down 34.3% from RMB 181,364,169.14 in Q1 2022[19] - Sales expenses increased to CNY 1,622,513.38 in Q1 2023 from CNY 854,509.36 in Q1 2022, reflecting an increase of approximately 89.8%[21] - The company incurred research and development expenses of CNY 3,965,321.80 in Q1 2023, down from CNY 6,570,082.42 in Q1 2022, indicating a reduction of about 39.5%[21] - The company reported a decrease in tax expenses to CNY 667,623.83 in Q1 2023 from CNY 1,840,592.86 in Q1 2022, a reduction of about 63.7%[21] Business Operations - The company experienced a significant decline in engineering business revenue, which contributed to the drop in operating income[9] - Future outlook includes potential market expansion and new product development strategies to enhance revenue streams[19] - The total revenue from operating activities was CNY 140,659,488.64, down from CNY 258,601,201.94 in the same period last year, indicating a decline of about 45.5%[24] - Inventory as of March 31, 2023, was RMB 252,278,062.58, an increase from RMB 242,426,580.12 at the end of 2022[15] - Accounts receivable decreased to RMB 163,707,399.19 as of March 31, 2023, from RMB 175,900,102.62 at the end of 2022[15]