Tony Tech(SH:603595)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 334,800,789.94, representing a decrease of 13.17% compared to the same period last year[5] - The net profit attributable to shareholders was a loss of CNY 39,650,104.20, a decline of 314.52% year-on-year[5] - The basic and diluted earnings per share were both CNY -0.17, reflecting a decrease of 312.50% compared to the previous year[5] - In Q1 2023, the company reported a net profit loss of CNY 42,186,559.80, compared to a net profit of CNY 18,483,005.57 in Q1 2022, representing a significant decline[20] - The company's operating profit was CNY -54,740,796.65 in Q1 2023, down from CNY 19,168,449.81 in the same period last year[20] - Total revenue from sales of goods and services reached CNY 473,676,852.16 in Q1 2023, compared to CNY 423,840,415.18 in Q1 2022, reflecting a growth of approximately 11.8%[23] Cash Flow and Liquidity - The net cash flow from operating activities increased by 138.95% to CNY 127,807,089.60[5] - The net cash flow from operating activities was CNY 127,807,089.60 in Q1 2023, compared to CNY 53,487,218.75 in Q1 2022, showing improved cash generation[24] - The net cash flow from financing activities was CNY 317,633,259.69 in Q1 2023, a substantial increase from CNY 61,040,950.25 in Q1 2022, indicating stronger financing efforts[25] - The company’s cash and cash equivalents at the end of Q1 2023 stood at CNY 263,246,621.46, a decrease from CNY 329,616,479.29 at the end of Q1 2022[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,572,385,844.17, an increase of 6.62% from the end of the previous year[6] - Total assets as of March 31, 2023, were RMB 4,572,385,844.17, compared to RMB 4,288,303,750.31 at the end of 2022, indicating an increase of 6.6%[17] - Total liabilities increased to RMB 2,598,599,571.47 in Q1 2023 from RMB 2,276,500,299.30 at the end of 2022, marking a rise of 14.2%[17] - Non-current assets totaled RMB 2,845,199,609.30 as of March 31, 2023, up from RMB 2,600,914,212.34 at the end of 2022, reflecting a growth of 9.4%[16] Operational Highlights - The company signed a significant contract for the delivery of 135,000 silicon carbide substrates in 2023, with a total sales amount of CNY 675 million[11] - The company experienced a decline in consumer electronics revenue, while the optical business revenue increased but with a lower gross margin, leading to a significant drop in overall gross profit[7] - The company is actively managing risks associated with contract fulfillment and market conditions to ensure compliance with delivery schedules[11] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,443[9] Expenses and Impairments - Total operating costs for Q1 2023 were RMB 383,539,438.49, an increase of 4.3% from RMB 365,415,617.19 in Q1 2022[19] - Research and development expenses increased to CNY 36,056,655.29 in Q1 2023, up from CNY 24,099,333.24 in Q1 2022, indicating a focus on innovation[20] - The company incurred financial expenses of CNY 26,998,175.26 in Q1 2023, significantly higher than CNY 14,793,004.11 in Q1 2022, primarily due to increased interest expenses[20] - The company reported a significant increase in credit impairment losses, which rose to CNY 6,466,054.30 in Q1 2023 from CNY 2,847,509.96 in Q1 2022, indicating potential challenges in asset quality[20] Retained Earnings - The company reported a decrease in retained earnings to RMB 278,785,880.81 in Q1 2023 from RMB 318,435,985.01 at the end of 2022, a decline of 12.5%[17]