SBT(SH:600608)2023-04-24 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥55,011,062.88, representing a decrease of 50.17% compared to the same period last year[3]. - The net profit attributable to shareholders was ¥174,629.35, down 91.58% year-on-year[3]. - The basic and diluted earnings per share were both ¥0.0005, reflecting a decrease of 91.57% year-on-year[3]. - In Q1 2023, the company reported a net profit of CNY 1,207,344.44, a decrease of 52.1% compared to CNY 2,505,584.61 in Q1 2022[19]. - The company's operating profit for Q1 2023 was CNY 1,972,305.27, down 39.4% from CNY 3,264,624.26 in the same period last year[19]. - The total comprehensive income for Q1 2023 was CNY 1,207,344.44, down 52.1% from CNY 2,505,584.61 in Q1 2022[19]. - The company's net profit for Q1 2023 was CNY -1,088,112.11, a decline from a profit of CNY 1,651,749.84 in Q1 2022[27]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥11,247,878.53, indicating a significant decline in cash generation[3]. - Cash flow from operating activities showed a net outflow of CNY 11,247,878.53, an improvement from a net outflow of CNY 35,011,425.60 in Q1 2022[20]. - The company's cash and cash equivalents at the end of Q1 2023 stood at CNY 63,417,207.13, down from CNY 70,089,528.80 at the end of Q1 2022[21]. - The company's cash flow from financing activities showed a net outflow of CNY 15,000,000.00 in Q1 2023[21]. - The net cash flow from financing activities was -$15 million[29]. - The cash and cash equivalents at the beginning of the period were $42.3 million, while the ending balance was $50.5 million, indicating a net increase of $8.2 million[29]. Assets and Liabilities - Total assets at the end of the reporting period were ¥167,982,528.7, a decrease of 14.97% from the end of the previous year[4]. - The total assets as of March 31, 2023, were ¥167,982,528.74, down 15.00% from ¥197,563,644.44 at the end of December 2022[17]. - The total liabilities decreased to ¥95,853,170.46 in Q1 2023 from ¥126,641,630.60 in Q4 2022, a reduction of 24.38%[16]. - The total current assets reached CNY 221,995,560.50, an increase from CNY 183,414,268.07, reflecting a growth of 20.9%[25]. - The company's inventory increased to CNY 20,307,940.43 from CNY 8,631,211.31, representing an increase of 135.5%[25]. - The total owner's equity decreased to CNY 66,364,400.77 from CNY 67,452,512.88, a decline of 1.6%[25]. Debt and Financing - The company is in the process of transferring all debts related to Nanjing Sweet Group to eliminate potential risks associated with historical debts[10]. - The company has extended two loan agreements with its controlling shareholder, with amounts of ¥21 million and ¥74 million, at an interest rate of 4.35%[11]. - The company has signed loan agreements totaling ¥9,500,000 with its controlling shareholder, with a remaining balance of ¥7,994,470.00[12]. - The company is currently in a mediation phase regarding a loan dispute with the Industrial and Commercial Bank of China, with a judicial deduction balance of ¥1,700,939.17[13]. - The company has a loan balance of ¥79,944,750.00 as of March 31, 2023, compared to ¥95,480,042.82 at the end of December 2022, indicating a decrease of 16.29%[16]. Market Conditions - The decline in revenue is attributed to increased competition and insufficient downstream market demand[6]. - The total operating revenue for Q1 2023 was ¥55,011,062.88, a decrease of 50.16% compared to ¥110,391,429.78 in Q1 2022[18]. - The total operating costs for Q1 2023 were ¥54,345,272.29, down 49.83% from ¥108,312,618.77 in Q1 2022[18].