Gan & Lee(SH:603087)2023-04-27 16:00Financial Performance - The company's revenue for Q1 2023 was approximately ¥558 million, representing a decrease of 19.13% compared to the same period last year[4]. - Net profit attributable to shareholders was approximately ¥49 million, down 56.55% year-on-year[4]. - Total operating revenue for Q1 2023 was approximately ¥558 million, a decrease of 19.0% compared to ¥690 million in Q1 2022[21]. - Net profit for Q1 2023 was approximately ¥49 million, a decline of 56.5% from ¥113 million in Q1 2022[21]. - Basic earnings per share for Q1 2023 were ¥0.09, down from ¥0.20 in Q1 2022, reflecting a decrease of 55.0%[22]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at approximately -¥16 million, a decline of 106.98% compared to the previous year[4]. - Cash flow from operating activities showed a net outflow of approximately ¥16 million in Q1 2023, compared to a net inflow of approximately ¥233 million in Q1 2022[23]. - Cash and cash equivalents at the end of Q1 2023 were approximately ¥333 million, down from ¥529 million at the end of Q1 2022[23]. - The company reported cash and cash equivalents of approximately ¥2.74 billion as of March 31, 2023, down from ¥2.89 billion at the end of 2022[19]. Sales and Market Performance - Domestic sales revenue decreased by ¥158 million, primarily due to significant price reductions following the implementation of centralized procurement in May 2022[8]. - International sales revenue increased by 192.64% year-on-year, with international sales reaching approximately ¥38 million[9]. - The volume of domestic insulin products sold increased by 173.98% year-on-year, with non-long-acting insulin products seeing a volume increase of 552.36%[13]. - The marketing team expansion and academic promotion strategies led to significant sales growth in the current quarter[14]. - The company plans to continue enhancing the efficiency of sales expenses and focus on grassroots market penetration[14]. Costs and Expenses - Total operating costs increased to approximately ¥528 million in Q1 2023, up 5.6% from ¥500 million in Q1 2022[21]. - The sales expense ratio decreased from 63.46% in 2022 to 40.27% in the current reporting period, indicating improved efficiency in sales expenditure[14]. - The company reported a significant increase in sales expenses, which totaled approximately ¥225 million in Q1 2023, down from ¥288 million in Q1 2022, a decrease of 21.7%[21]. - Research and development expenses rose to approximately ¥120 million in Q1 2023, an increase of 22.5% compared to ¥98 million in Q1 2022[21]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥10.60 billion, a slight decrease of 0.10% from the previous year[4]. - Total assets amounted to ¥10.60 billion as of March 31, 2023, slightly down from ¥10.61 billion at the end of 2022[20]. - The company’s total liabilities decreased from approximately ¥1.02 billion in 2022 to ¥950.58 million in the current period[20]. - The company’s inventory increased to approximately ¥688.68 million from ¥648.65 million year-over-year[19]. - The total liabilities to equity ratio as of January 1, 2023, is approximately 10.65%[26]. Shareholder Information - The number of common shareholders reached 78,598 by the end of the reporting period[15]. - The company’s net profit retained increased to approximately ¥6.28 billion from ¥6.23 billion year-over-year[20]. New Projects and Developments - The company is in the clinical stage for several new drug projects, including GZR101 and GZR4, which are expected to enter the market upon approval[14]. Accounting and Reporting Changes - The company implemented new accounting standards starting January 1, 2023, affecting the presentation of financial statements[24].