GONGJIN(SH:603118)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 2.12 billion, a decrease of 13.54% year-on-year[3]. - Net profit attributable to shareholders increased by 52.03% year-on-year, reaching CNY 76.43 million[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 84.21% year-on-year, amounting to CNY 68.19 million[3]. - The company's gross profit margin for Q1 2023 was 11.68%, an increase of 1.45 percentage points compared to the previous year[9]. - The net profit margin for the same period was 3.60%, up by 1.55 percentage points year-on-year[9]. - Operating cash flow for the period was CNY 139.32 million, with a significant increase in cash received from sales compared to the previous year[5]. - The basic and diluted earnings per share were both CNY 0.10, reflecting a 66.67% increase year-on-year[3]. - The company experienced a 14.94% reduction in operating costs compared to the previous year, contributing to improved profitability[9]. - Net profit for Q1 2023 was CNY 73,988,337.59, an increase of 47.2% from CNY 50,310,660.07 in Q1 2022[19]. - Operating profit for Q1 2023 was CNY 73,411,751.85, up 112.5% from CNY 34,666,773.09 in Q1 2022[18]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 9.98 billion, a decrease of 5.23% from the end of the previous year[3]. - As of March 31, 2023, total current assets amounted to approximately CNY 6.44 billion, down from CNY 7.02 billion at the end of 2022[15]. - Total assets as of March 31, 2023, were approximately CNY 9.98 billion, a decrease from CNY 10.53 billion at the end of 2022[15]. - Current liabilities totaled approximately CNY 4.62 billion, down from CNY 5.30 billion at the end of 2022[16]. - The company's total equity attributable to shareholders reached approximately CNY 5.24 billion, compared to CNY 5.15 billion at the end of 2022[16]. - Total liabilities as of March 31, 2023, were CNY 3,954,413,517.37, up from CNY 3,532,049,698.00 as of December 31, 2022, indicating increased leverage[27]. - The total equity as of March 31, 2023, was CNY 4,806,897,530.01, an increase of 1.2% from CNY 4,751,078,119.47 as of December 31, 2022[27]. Research and Development - The company reported a decrease in research and development expenses by CNY 29.46 million year-on-year[10]. - Research and development expenses for Q1 2023 were CNY 76,293,300.39, a decrease of 28.0% from CNY 105,754,285.27 in Q1 2022[18]. - Research and development expenses for Q1 2023 were CNY 35,962,368.37, a significant decrease of 51.7% compared to CNY 74,639,701.22 in Q1 2022[28]. Cash Flow - Cash flow from operating activities for Q1 2023 was CNY 139,320,097.64, compared to a negative cash flow of CNY 162,812,420.03 in Q1 2022[22]. - Cash and cash equivalents at the end of Q1 2023 were CNY 1,596,634,234.35, an increase from CNY 522,798,864.68 at the end of Q1 2022[23]. - Total cash inflow from financing activities for Q1 2023 was CNY 955,475,374.26, an increase from CNY 578,835,003.13 in Q1 2022[23]. - The net cash flow from operating activities for Q1 2023 was $516.3 million, a significant improvement compared to a net outflow of $91.5 million in Q1 2022, representing a turnaround of over 670%[32]. - Total cash inflow from operating activities reached $2.56 billion, up from $1.82 billion in the same period last year, indicating a year-over-year increase of approximately 41%[32]. - Cash outflow for purchasing goods and services decreased to $1.23 billion from $1.57 billion, reflecting a reduction of about 21%[32]. - The net cash flow from investing activities was negative at $24.29 million, contrasting with a positive inflow of $24.33 million in Q1 2022[32]. - Cash inflow from financing activities totaled $401.05 million, compared to $342.30 million in the previous year, marking an increase of approximately 17%[32]. - The net cash flow from financing activities was negative at $177.26 million, worsening from a negative $43.55 million in Q1 2022[32]. - The ending cash and cash equivalents balance increased to $1.49 billion, up from $323.40 million at the end of Q1 2022, representing a growth of over 360%[32]. - The company received $735.14 million in cash related to operating activities, a significant increase from $120.21 million in the previous year, indicating a rise of approximately 513%[32]. - The cash paid for employee compensation decreased to $134.59 million from $149.24 million, showing a reduction of about 10%[32]. Business Strategy - The company is focusing on expanding its sensor packaging and automotive electronics business, with expectations of continuous revenue recovery driven by high demand for PON series products and switches[11]. - The company is exploring new growth points to enhance performance, particularly in the FWA product segment[11]. - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[28]. Other Information - The company had a total of 37,079 common shareholders at the end of the reporting period[7]. - The company did not apply new accounting standards for the first time in 2023, maintaining consistency in financial reporting[33].