ZAISHENG TECHNOLOGY(SH:603601)2023-04-25 16:00Financial Performance - The company reported a revenue of CNY 377,379,426.59 for Q1 2023, representing a 2.50% increase compared to the same period last year[6]. - Net profit attributable to shareholders decreased by 43.87% to CNY 33,278,463.78, while the net profit excluding non-recurring items fell by 42.80% to CNY 29,807,880.56[6][7]. - Basic earnings per share decreased by 44.18% to CNY 0.0326, reflecting the decline in net profit attributable to shareholders[7][11]. - Net profit for Q1 2023 was CNY 35,790,241.79, a decrease of 41.2% from CNY 60,877,566.75 in Q1 2022[25]. - The total comprehensive income for Q1 2023 was ¥35,790,241.79, down from ¥60,877,566.75 in Q1 2022, indicating a decrease of about 41.2%[26]. Cash Flow and Assets - The net cash flow from operating activities dropped significantly by 95.59% to CNY 3,295,823.05, primarily due to delayed payments from the clean air equipment project[11]. - Cash flow from operating activities for Q1 2023 was ¥3,295,823.05, significantly lower than ¥74,764,763.73 in Q1 2022, marking a decrease of about 95.6%[29]. - The ending cash and cash equivalents balance for Q1 2023 was ¥459,897,373.69, compared to ¥295,675,832.00 at the end of Q1 2022, showing an increase of approximately 55.5%[30]. - Total assets at the end of the reporting period were CNY 3,378,133,321.70, a decrease of 1.15% from the previous year[7]. - Total current assets amounted to approximately 1.80 billion, with cash and cash equivalents at 481.59 million and accounts receivable at 545.35 million[33]. Liabilities and Equity - Total liabilities as of Q1 2023 were CNY 1,095,832,103.84, down from CNY 1,178,480,476.79 in the previous period[22]. - Total current liabilities were approximately 604.14 million, with short-term borrowings at 140.86 million and accounts payable at 194.77 million[35]. - Total non-current liabilities amounted to approximately 574.34 million, including long-term borrowings of 49.70 million and bonds payable of 410.21 million[36]. - Shareholders' equity was approximately 2.24 billion, with retained earnings of 749.06 million[36]. Research and Development - The company continues to strengthen its R&D capabilities and expand into new product categories and applications, particularly in the fields of new energy vehicles and green building materials[8]. - Research and development expenses for Q1 2023 amounted to CNY 16,164,017.66, down 34.8% from CNY 24,741,581.34 in Q1 2022[25]. Market Strategy and Future Outlook - The company is actively exploring new strategies for market expansion and potential mergers and acquisitions to enhance its competitive position[8]. - The company is focused on expanding its market presence and developing new technologies to enhance product offerings[34]. - Future guidance indicates a commitment to maintaining financial stability while pursuing strategic acquisitions and partnerships[34]. - The company aims to leverage its strong cash position to invest in innovative projects and enhance operational efficiency[34]. Operational Efficiency - The gross profit margin of the main business has declined due to high raw material and energy costs, along with a shift in the revenue structure towards lower-margin products[7][11]. - Total operating costs for Q1 2023 were CNY 344,679,398.97, up from CNY 317,550,702.68 in Q1 2022, reflecting a year-over-year increase of 8.6%[24]. - The company reported a decrease in sales expenses to CNY 7,379,729.51 from CNY 10,759,530.18 in Q1 2022, a reduction of 31.1%[25].