JINGCHENG MAC(SH:600860)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 274,718,604.19, representing a decrease of 1.80% compared to the same period last year[4] - The net profit attributable to shareholders of the listed company was a loss of CNY 15,756,292.00, with a basic earnings per share of -0.03 yuan[4] - The weighted average return on equity was -1.50%, a decrease of 1.26 percentage points compared to the previous year[4] - The company reported a decrease in investment income compared to the same period last year, impacting net profit[7] - The net profit for Q1 2023 was a loss of CNY 19,433,572.47, compared to a loss of CNY 2,935,092.73 in Q1 2022, indicating a significant increase in losses year-over-year[18] - The total comprehensive income for Q1 2023 was a loss of CNY 20,094,928.64, compared to a loss of CNY 2,935,092.73 in Q1 2022, reflecting a significant decline in overall financial performance[18] Assets and Liabilities - Total assets at the end of Q1 2023 amounted to CNY 2,499,900,848.67, an increase of 2.68% from the end of the previous year[5] - Current assets as of March 31, 2023, totaled RMB 1,059,810,542.59, slightly down from RMB 1,063,028,717.82 at the end of 2022[12] - Inventory increased to RMB 355,000,667.99 in Q1 2023, up from RMB 310,798,445.44 at the end of 2022, reflecting a growth of 14.2%[13] - Non-current assets reached RMB 1,440,090,306.08 as of March 31, 2023, compared to RMB 1,371,560,381.71 at the end of 2022, indicating an increase of 5%[13] - Total liabilities amounted to RMB 1,107,099,728.17, up from RMB 1,028,107,632.72 at the end of 2022, representing a rise of 7.7%[14] - The total assets as of March 31, 2023, were RMB 2,499,900,848.67, compared to RMB 2,434,589,099.53 at the end of 2022, showing an increase of 2.7%[14] Cash Flow - The net cash flow from operating activities was CNY 3,749,806.01, indicating a reduction in cash flow due to decreased payments for goods and services[7] - The net cash flow from operating activities for Q1 2023 was CNY 3,749,806.01, a recovery from a negative cash flow of CNY 42,316,254.26 in Q1 2022[21] - The cash and cash equivalents at the end of Q1 2023 stood at CNY 236,956,066.00, compared to CNY 87,878,037.06 at the end of Q1 2022, showing a significant increase[22] - The total investment activities resulted in a net cash outflow of CNY 22,474,117.32 in Q1 2023, compared to a net outflow of CNY 7,862,787.84 in Q1 2022, indicating increased investment activity[22] Shareholder Information - The top shareholder, Beijing Jingcheng Electromechanical Holding Co., Ltd., holds 245,735,052 shares, accounting for 45.32% of total shares[9] - The total number of ordinary shareholders at the end of the reporting period was 49,807[9] Operational Plans and Strategies - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[7] - The company plans to implement a restricted stock incentive plan to attract and retain talent, approved on March 24, 2023[11] - The board has approved a non-public offering of shares to raise funds, with details to be disclosed as they progress[11] Expenses - The total operating costs for Q1 2023 were CNY 286,863,753.87, a decrease from CNY 287,807,611.09 in Q1 2022, with operating costs specifically dropping from CNY 245,251,933.38 to CNY 232,442,407.12, representing a reduction of approximately 5.2%[17] - Research and development expenses rose to CNY 14,927,932.28 in Q1 2023, up from CNY 7,830,234.46 in Q1 2022, reflecting an increase of approximately 90.5%[17] - The company incurred financial expenses of CNY 4,829,307.27 in Q1 2023, up from CNY 2,554,590.83 in Q1 2022, which is an increase of approximately 89.0%[17] Accounting Standards - The company announced the implementation of new accounting standards starting in 2023, which will affect the financial statements from the beginning of the year[23]