Etron(SH:603380)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 417,684,589.73, representing a decrease of 14.66% compared to the same period last year[5]. - Net profit attributable to shareholders was CNY 22,224,185.57, down 59.96% year-on-year[5]. - The net profit after deducting non-recurring gains and losses was CNY 3,266,423.85, a decline of 94.25% compared to the previous year[5]. - Basic and diluted earnings per share were both CNY 0.14, reflecting a decrease of 58.82% year-on-year[5]. - The total profit for Q1 2023 was CNY 28,684,514.06, down from CNY 69,271,914.78 in Q1 2022, reflecting a decline of about 58.6%[19]. - The net profit for Q1 2023 was CNY 23,461,585.75, down from CNY 57,173,805.19 in Q1 2022, indicating a decline of about 59%[19]. - The company reported a tax expense of CNY 5,222,928.31 for Q1 2023, compared to CNY 12,098,109.59 in Q1 2022, indicating a reduction of approximately 56.7%[19]. - Other comprehensive income after tax for Q1 2023 was CNY 1,888,615.19, contrasting with a loss of CNY -217,578.79 in Q1 2022[19]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,019,370,879.18, a slight decrease of 0.07% from the end of the previous year[6]. - Cash and cash equivalents as of March 31, 2023, were RMB 149,113,168.90, down from RMB 210,684,009.10 at the end of 2022, representing a decline of 29.1%[13]. - Accounts receivable decreased to RMB 398,338,055.69 from RMB 473,539,303.27, a reduction of 15.9%[13]. - Inventory increased to RMB 576,694,618.58, up 12.9% from RMB 510,582,154.92 at the end of 2022[13]. - Total liabilities decreased to RMB 733,114,557.01 from RMB 761,217,917.07, a reduction of 3.7%[15]. - Shareholders' equity increased to RMB 1,286,256,322.17 from RMB 1,259,666,838.74, an increase of 2.1%[15]. - The company reported a decrease in short-term borrowings to RMB 105,185,255.51 from RMB 126,920,395.21, a decline of 17.2%[14]. Cash Flow - The company's cash flow from operating activities was CNY 19,529,861.49, with an increase attributed to higher government subsidies received[8]. - The company's operating cash flow for Q1 2023 was CNY 19,529,861.49, a significant improvement compared to a negative cash flow of CNY -18,504,950.05 in Q1 2022[20]. - The net cash flow from investment activities was -$50,235,692.59, indicating a significant outflow compared to the previous period's inflow of $42,699,545.41[21]. - Total cash and cash equivalents at the end of the period amounted to $144,173,395.31, down from $246,761,114.28 in the previous period[21]. - Cash inflow from financing activities totaled $41,500,384.74, while cash outflow was $68,005,870.90, resulting in a net cash flow of -$26,505,486.16[21]. - The company received $40,000,000.00 in cash from borrowings during the financing activities[21]. - The impact of exchange rate changes on cash and cash equivalents was a positive $6,145,707.63[21]. - The cash inflow from investment activities was $2,507,569.34, while cash outflow was $52,743,261.93[21]. - The company reported a cash balance at the beginning of the period of $195,239,004.94[21]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 7,124[10]. - The top shareholder, Qian Xindong, held 36.90% of the shares, with a total of 59,560,680 shares[10]. Strategic Initiatives - The company continues to focus on market expansion and technological advancements as part of its strategic initiatives[12]. - The company has not provided specific guidance for future performance or new product developments in this report[12]. Operating Costs and Expenses - The total operating costs for Q1 2023 were CNY 393,055,408.16, a decrease from CNY 410,292,082.34 in Q1 2022, representing a reduction of approximately 4.5%[18]. - Research and development expenses increased to CNY 29,040,529.72 in Q1 2023 from CNY 23,459,297.17 in Q1 2022, reflecting a growth of approximately 23.8%[18]. - The company achieved an investment income of CNY 1,044,418.19 in Q1 2023, compared to CNY 461,567.64 in Q1 2022, marking an increase of approximately 126.5%[18]. Accounting Standards - The company did not apply new accounting standards or interpretations for the first quarter of 2023[22].