ASCF(SH:600855)2023-04-28 16:00Financial Performance - The company reported a revenue of CNY 207.29 million for Q1 2023, a decrease of 9.97% compared to the same period last year[5]. - The net profit attributable to shareholders was CNY -44.52 million, reflecting a decline of CNY 3 million year-on-year[6]. - Total operating revenue for Q1 2023 was CNY 207,288,226.59, a decrease of 10% compared to CNY 230,237,597.60 in Q1 2022[22]. - Net loss for Q1 2023 was CNY 47,593,980.85, compared to a net loss of CNY 46,092,594.70 in Q1 2022, indicating a slight increase in losses[24]. - The company reported a total comprehensive loss of CNY 47,593,980.85 for Q1 2023, compared to a total comprehensive loss of CNY 46,092,594.70 in Q1 2022[24]. Revenue Breakdown - High-end medical equipment business revenue increased significantly to CNY 64 million, a growth of 2,080.68% year-on-year, driven by new orders and increased sales volume[6]. - Military electronics business revenue decreased to CNY 133 million, down 16.22% year-on-year, primarily due to changes in customer demand and lower delivery volumes[6]. - Public safety business revenue fell to CNY 8 million, a decline of 87.96% year-on-year, attributed to project settlement delays despite winning several key projects[6]. Cash Flow and Management - The company reported a net cash flow from operating activities of CNY -80.78 million, with a focus on optimizing cash management[11]. - Operating cash flow for Q1 2023 was negative at -80,778,295.32 RMB, an improvement from -300,865,490.95 RMB in Q1 2022, indicating a 73% reduction in cash outflow[28]. - Total cash inflow from operating activities was 329,399,899.94 RMB, compared to 306,776,337.41 RMB in the same period last year, reflecting an increase of approximately 7.4%[28]. - Cash outflow from operating activities decreased to 410,178,195.26 RMB from 607,641,828.36 RMB, marking a 32.5% reduction[28]. Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 3.81 billion, down 5.35% from the end of the previous year[6]. - The company's total liabilities decreased to CNY 1,956,123,907.81 in Q1 2023 from CNY 2,130,041,980.85 in Q1 2022, a reduction of about 8.1%[22]. - Total equity decreased to CNY 1,850,198,874.10 in Q1 2023 from CNY 1,891,449,144.11 in Q1 2022, reflecting a decline of approximately 2.2%[22]. - The company's total liabilities decreased to RMB 2,572,375,314.59 from RMB 2,745,195,988.27, indicating a reduction of approximately 6.29%[18]. Research and Development - Research and development expenses for Q1 2023 were CNY 17,979,548.47, slightly down from CNY 18,800,614.77 in Q1 2022, indicating a decrease of about 4.4%[23]. - The company incurred research and development expenses of ¥7,964,051.69 in Q1 2023, down from ¥11,709,436.27 in Q1 2022, indicating a decrease of approximately 32%[35]. Future Outlook - The company plans to enhance innovation capabilities and focus on new product development and market expansion to improve overall profitability[7]. - The company has not reported any significant new product developments or market expansions during the reporting period[15].