VITI(SH:603023)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 13,472,632.33, representing a year-on-year increase of 12.44%[5] - The net profit attributable to shareholders of the listed company was a loss of CNY 564,751.60, a decrease of 181.05% compared to the same period last year[5] - The basic earnings per share for the period was -CNY 0.001, reflecting a decline of 183.33% year-on-year[6] - Total revenue for Q1 2023 was CNY 13,472,632.33, an increase of 12.5% compared to CNY 11,981,796.01 in Q1 2022[18] - Net profit for Q1 2023 was a loss of CNY 2,225,432.93, compared to a profit of CNY 660,727.47 in Q1 2022[20] - The company's operating profit for Q1 2023 was a loss of CNY 3,023,316.11, down from a profit of CNY 1,240,133.31 in Q1 2022[19] Assets and Liabilities - The total assets at the end of the reporting period were CNY 825,048,060.78, an increase of 2.00% from the end of the previous year[6] - As of March 31, 2023, the company's total current assets amounted to RMB 645,127,712.73, an increase from RMB 628,040,920.75 at the end of 2022, reflecting a growth of approximately 2.3%[14] - The total non-current assets were reported at RMB 585,000,000, with fixed assets valued at RMB 137,167,216.80, showing a slight increase from RMB 136,308,919.42[14] - Total liabilities for Q1 2023 were CNY 63,350,050.29, an increase from CNY 44,908,724.52 in Q1 2022[16] - The company's equity attributable to shareholders was CNY 766,945,857.32, slightly down from CNY 767,510,608.92 in Q1 2022[16] Cash Flow - The net cash flow from operating activities was -CNY 8,982,574.48, indicating a significant cash outflow[5] - Cash flow from operating activities in Q1 2023 was CNY 12,505,488.57, an increase from CNY 8,428,495.66 in Q1 2022[22] - The net cash flow from operating activities was -$8,982,574.48, a decrease from -$2,640,566.18 in the previous period[23] - Cash outflows for operating activities totaled $46,202,614.69, an increase from $13,859,692.37 in the previous period[23] - Cash inflows from operating activities were $37,220,040.21, compared to $11,219,126.19 previously[23] Expenses - Operating costs for Q1 2023 were CNY 18,057,525.10, up from CNY 11,340,518.08 in Q1 2022, representing a 59% increase[19] - Research and development expenses for Q1 2023 were CNY 3,948,203.00, compared to CNY 3,152,222.52 in Q1 2022, reflecting a 25.3% increase[19] - The increase in net profit loss was primarily due to increased expenses from subsidiaries during the reporting period[8] - The company experienced a significant increase in procurement costs, impacting the cash flow from operating activities[8] Government Support and Strategic Moves - The company received government subsidies amounting to CNY 54,500.01, which are closely related to its normal business operations[7] - The company approved the transfer of assets related to its subsidiary Zhejiang Liwei Automotive Control Systems Co., Ltd. for a price of RMB 4.3 million, which constitutes an associated transaction[11] - The company plans to sell 55% of its stake in Liwei Automotive Control Systems, pending further negotiations and necessary approvals, indicating a strategic move towards restructuring[12] Current Assets - The company's cash and cash equivalents stood at RMB 436,650,422.89, slightly up from RMB 431,436,612.98 at the end of the previous year, indicating a marginal increase of about 0.5%[14] - Accounts receivable decreased to RMB 46,453,411.09 from RMB 50,751,345.90, representing a decline of approximately 8.5%[14] - The company reported an increase in prepayments to RMB 9,508,862.71 from RMB 953,000.56, showing a significant rise of over 890%[14] - Inventory decreased to RMB 104,718,244.88 from RMB 112,526,427.76, reflecting a reduction of about 6.9%[14] Intangible Assets - The company’s goodwill and intangible assets were reported at RMB 13,682,748.20 and RMB 14,111,690.16 respectively, indicating a focus on maintaining asset value amidst market fluctuations[14] - The company’s long-term equity investments remained stable at RMB 356,013.52, unchanged from the previous reporting period[14]