Dcenti(SH:603335)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥531,324,901.56, representing a year-on-year increase of 32.81%[5]. - The net profit attributable to shareholders was a loss of ¥28,947,893.01, a decrease of 336.90% compared to the same period last year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥29,717,818.15, down 332.40% year-on-year[5]. - Basic earnings per share were -¥0.07, reflecting a decrease of 336.90% year-on-year[6]. - In Q1 2023, the company reported a net profit of -42,312,374.58 RMB, a significant decline compared to a net profit of 24,747,021.10 RMB in Q1 2022, representing a year-over-year decrease of 271.1%[24]. - The total comprehensive income for Q1 2023 was -45,056,968.67 RMB, compared to 24,770,541.46 RMB in Q1 2022, indicating a decline of 281.3%[25]. Cash Flow and Liquidity - The net cash flow from operating activities was a negative ¥117,205,272.95, a decline of 248.13% compared to the previous year[5]. - The company's operating cash flow was negative at -117,205,272.95 RMB, worsening from -33,667,462.04 RMB in Q1 2022[28]. - Cash and cash equivalents increased by 68.86% due to additional financing from the subsidiary Guangdong Weima[7]. - The cash and cash equivalents increased to RMB 160,891,822.88 as of March 31, 2023, compared to RMB 95,283,567.31 at the end of 2022, indicating a growth of 68.7%[19]. - The company raised 47,790,000.00 RMB from minority shareholders in Q1 2023, compared to 2,500,000.00 RMB in the same period last year, showing a significant increase of 1,811.6%[29]. - The company’s total liabilities increased, leading to a net cash flow from financing activities of 276,461,607.72 RMB, up from 37,213,771.40 RMB in Q1 2022[29]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,711,346,581.99, an increase of 4.03% from the end of the previous year[6]. - The total liabilities increased to RMB 1,055,889,190.42 as of March 31, 2023, from RMB 992,145,831.68 at the end of 2022, marking a rise of 6.4%[21]. - The company's net assets were RMB 655,457,391.57 as of March 31, 2023, slightly up from RMB 652,838,649.44 at the end of 2022[21]. - The company provided guarantees totaling RMB 35,372.35 million, which accounted for 69.63% of the latest audited net assets[15]. - The company has not provided any financial assistance to its subsidiaries as of the report date, with a total financial assistance balance of RMB 0[16]. Inventory and Receivables - The company experienced significant inventory impairment due to fluctuations in raw material prices and increased inventory levels[7]. - Inventory decreased by 16.39% as the company adjusted stock levels based on market dynamics[8]. - Long-term receivables increased to 2,759.92 million due to the addition of a new after-sales leasing business[8]. - Contract liabilities rose by 250.82 million, reflecting an increase in advance payments received[8]. - The inventory decreased to RMB 455,677,066.85 as of March 31, 2023, from RMB 545,011,364.16 at the end of 2022, representing a decline of 16.4%[19]. Expenses and Impairments - The total operating costs for Q1 2023 were RMB 589,158,321.87, up from RMB 364,846,461.78 in Q1 2022, representing a 61.7% increase[23]. - Research and development expenses amounted to 38.70 million, driven by significant investments in technology and talent[8]. - Research and development expenses increased to 9,487,670.32 RMB, compared to 6,840,614.41 RMB in the previous year, marking a rise of 38.5%[24]. - Financial expenses increased by 142.59 million due to higher interest costs associated with increased working capital[8]. - The company incurred financial expenses of 9,361,471.13 RMB, which is a substantial increase from 3,858,923.75 RMB in Q1 2022, reflecting an increase of 142.5%[24]. - Investment income recorded a loss of 439.27 million, attributed to discounted receivables from the 6+9 bank[9]. - Credit impairment losses totaled 911.60 million as the company strengthened financial internal controls[9]. - Asset impairment losses were recognized at 2,794.19 million, in line with accounting standards and market fluctuations[9]. - The company reported a net loss impacting retained earnings, primarily due to significant material price fluctuations[8].