IReader Technology(SH:603533)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 598,143,484.55, representing a year-on-year increase of 14.94%[5] - The net profit attributable to shareholders for the same period was CNY 6,668,750.16, a significant increase of 144.53% compared to the previous year[5] - The basic earnings per share (EPS) rose to CNY 0.02, reflecting a growth of 166.67% year-on-year[5] - The net profit excluding non-recurring gains and losses was CNY 4,793,581.80, up 122.98% year-on-year[5] - Net profit for Q1 2023 was ¥8,261,390.53, a significant recovery from a net loss of ¥15,803,123.18 in Q1 2022[17] - The net profit attributable to the parent company for Q1 2023 was ¥6,668,750.16, a significant improvement from a net loss of ¥14,976,309.77 in Q1 2022, marking a turnaround of approximately 144.6%[18] - The total comprehensive income for Q1 2023 was ¥7,869,706.03, a significant recovery from a loss of ¥15,930,391.84 in Q1 2022[18] Cash Flow and Assets - The net cash flow from operating activities decreased by 83.74% to CNY 7,458,344.41, primarily due to increased cash payments related to operating activities[6] - Current assets totaled ¥2,431,445,336.35, a decline of 13.54% from ¥2,813,466,723.37 at the end of 2022[13] - Cash and cash equivalents were reported at ¥1,966,360,047.00, down from ¥2,216,019,170.89 at the end of 2022, a decrease of 11.27%[12] - The net cash flow from operating activities for Q1 2023 was ¥7,458,344.41, compared to ¥45,860,159.47 in Q1 2022, indicating a decline of approximately 83.8%[20] - Cash and cash equivalents at the end of Q1 2023 stood at ¥1,461,360,047.01, an increase from ¥1,293,492,880.40 at the end of Q1 2022, reflecting a growth of about 12.9%[21] - The company reported a net cash inflow from investment activities of ¥57,614,098.45 in Q1 2023, a recovery from a net outflow of ¥35,124,751.66 in Q1 2022[21] Costs and Liabilities - Total operating costs for Q1 2023 were ¥596,075,353.85, up from ¥552,640,376.99 in Q1 2022, reflecting a year-over-year increase of 7.87%[17] - The company's total liabilities decreased to ¥708,089,347.33 from ¥806,049,799.69, indicating a reduction of 12.16%[14] - The company reported a significant reduction in employee compensation liabilities, which fell to ¥31,558,964.74 from ¥79,928,673.74 in the previous quarter[14] - The cash outflow for operating activities in Q1 2023 was ¥739,680,483.26, up from ¥509,883,409.94 in Q1 2022, reflecting an increase of about 45%[20] - The company reported a decrease in tax payments, with cash paid for taxes amounting to ¥7,298,930.60 in Q1 2023, down from ¥26,997,435.23 in Q1 2022, indicating a reduction of approximately 73%[21] Strategic Focus and Development - The company is focusing on strategic transformation by enhancing free reading services and improving operational capabilities in the digital reading sector[10] - Increased investment in research and development is aimed at accelerating the optimization of AI models in the digital reading vertical[10] - The company aims to upgrade from a leading digital reading platform to a leading intelligent reading platform, leveraging data and scenario advantages[10] - Research and development expenses for Q1 2023 were ¥56,746,013.40, an increase of 27.38% compared to ¥44,516,227.11 in Q1 2022[17] Asset Overview - The total assets at the end of the reporting period were CNY 3,312,846,191.47, down 2.65% from the end of the previous year[6] - The company's total assets decreased to ¥3,312,846,191.47 as of March 31, 2023, down from ¥3,402,936,937.79 at the end of 2022[14] - Non-current assets increased to ¥881,400,855.12, up from ¥589,470,214.42 at the end of 2022, marking a growth of 49.54%[13]