TC(SH:603421)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥464,577,345.74, representing a year-on-year increase of 71.39%[3] - The net profit attributable to shareholders was -¥58,177,715.03, indicating a significant loss compared to the previous year[3] - The basic and diluted earnings per share were both -¥0.09, indicating a loss per share[3] - The company reported a total revenue of CNY 1,117,918,726.04 for the first quarter of 2023, compared to CNY 1,108,286,316.39 in the previous quarter, indicating a slight increase[14] - Net profit for Q1 2023 was a loss of ¥58,177,715.03, an improvement from a loss of ¥101,364,056.43 in Q1 2022, reflecting a reduction in losses of approximately 42.6%[16] - The net profit for Q1 2023 was a loss of CNY 21,938,808.92, an improvement from a loss of CNY 54,493,366.25 in Q1 2022, indicating a reduction in losses by approximately 59.7%[27] Cash Flow - The net cash flow from operating activities was -¥19,254,120.86, reflecting a decrease due to increased payments for goods and employee salaries[5] - Cash flow from operating activities in Q1 2023 was a net outflow of ¥19,254,120.86, compared to a net outflow of ¥5,850,867.76 in Q1 2022[20] - The total cash outflow from operating activities in Q1 2023 was ¥822,756,351.97, compared to ¥950,393,404.58 in Q1 2022, indicating a decrease of approximately 13.4%[20] - The cash inflow from operating activities was CNY 638,708,456.75, a decrease of 13.9% compared to CNY 741,795,074.31 in Q1 2022[28] - The net cash flow from operating activities was negative at CNY -29,686,922.52, worsening from CNY -22,416,868.83 in the same period last year[28] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,397,071,833.46, a decrease of 4.71% from the end of the previous year[3] - The equity attributable to shareholders decreased by 1.75% to ¥3,265,624,704.41 compared to the end of the previous year[3] - The company's total liabilities decreased to CNY 2,131,447,129.05 from CNY 2,339,798,670.77, reflecting a decline of approximately 8.9%[13] - The total current liabilities decreased to CNY 1,589,272,730.48 from CNY 1,896,338,980.78, a reduction of about 16.2%[12] - The company's total assets decreased from CNY 5,296,652,581.31 as of December 31, 2022, to CNY 5,185,819,989.18 as of March 31, 2023, representing a decline of approximately 2.1%[24] Inventory and Receivables - Accounts receivable decreased significantly to CNY 1,357,318,085.17 from CNY 1,699,793,008.59, indicating a reduction of approximately 20.2%[11] - Inventory rose to CNY 1,701,330,185.01, up from CNY 1,500,784,997.99, marking an increase of around 13.4%[11] - Inventory levels rose from CNY 950,534,890.93 at the end of 2022 to CNY 1,128,993,136.09 by the end of Q1 2023, marking an increase of approximately 18.7%[23] Research and Development - Research and development expenses rose to ¥106,007,956.94 in Q1 2023, up from ¥89,494,296.38 in Q1 2022, marking an increase of about 18.5%[16] - Research and development expenses for Q1 2023 were CNY 77,965,350.93, up from CNY 61,763,376.28 in Q1 2022, indicating an increase of approximately 26.2%[26] Financing Activities - The company raised ¥100,000,000.00 through borrowings in Q1 2023, down from ¥170,000,000.00 in Q1 2022, a decline of about 41.2%[21] - The cash inflow from financing activities was CNY 100,000,000.00, down 41.2% from CNY 170,000,000.00 in Q1 2022[29] - The net cash flow from financing activities decreased to CNY 87,842,211.72, compared to CNY 168,220,153.14 in the previous year, indicating a decline of 47.8%[29] Other Financial Metrics - The company recognized non-recurring gains of ¥1,664,175.85, primarily from government subsidies and VAT refunds[4] - The company received a VAT refund of ¥24,020,828.72, which is classified as a recurring gain due to its relevance to normal business operations[5] - The weighted average return on net assets was -1.77%, reflecting the company's current financial challenges[3] - The company reported a financial expense of CNY 5,785,608.99 in Q1 2023, compared to CNY 2,049,578.26 in Q1 2022, reflecting an increase of approximately 181.5%[26]