Linewell(SH:603636)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥147,634,567.77, representing a year-on-year increase of 17.55%[5] - The net profit attributable to shareholders was -¥21,777,831.75, with a year-on-year decrease of 17.61%[5] - The net cash flow from operating activities was -¥235,318,350.69, reflecting a decline of 21.64% compared to the previous year[5] - Total operating revenue for Q1 2023 was CNY 147,634,567.77, an increase of 17.6% compared to CNY 125,594,894.58 in Q1 2022[20] - Total operating costs for Q1 2023 were CNY 171,365,481.09, up from CNY 154,109,670.73 in Q1 2022, representing an increase of 11.2%[20] - Net loss for Q1 2023 was CNY 24,256,025.11, compared to a net loss of CNY 28,017,859.40 in Q1 2022, showing an improvement of 13.1%[21] - The total comprehensive loss attributable to shareholders of the parent company was CNY -21,777,831.75 in Q1 2023, compared to CNY -26,433,483.71 in Q1 2022, indicating a reduction in losses[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,506,137,882.85, an increase of 1.90% from the end of the previous year[6] - As of March 31, 2023, the company's total assets reached RMB 5.51 billion, an increase from RMB 5.40 billion at the end of 2022[17] - The total liabilities as of March 31, 2023, amounted to CNY 2,745,605,970.30, an increase from CNY 2,618,344,436.99 as of December 31, 2022[18] - The total equity attributable to shareholders of the parent company was CNY 2,668,399,714.43 as of March 31, 2023, down from CNY 2,690,054,869.16 at the end of 2022[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 43,606[8] - The largest shareholder, Wu Zhixiong, holds 239,181,429 shares, accounting for 40.48% of the total shares[9] Cash Flow and Financing Activities - The company's cash and cash equivalents decreased to RMB 392.47 million from RMB 568.73 million at the end of 2022[16] - The company's accounts receivable stood at RMB 2.04 billion, slightly down from RMB 2.07 billion at the end of 2022[16] - The company reported a significant increase in inventory, rising to RMB 238.12 million from RMB 181.36 million at the end of 2022[16] - Short-term borrowings increased to RMB 1.02 billion from RMB 665.67 million at the end of 2022, indicating a rise in leverage[17] - In Q1 2023, the cash inflow from operating activities was approximately $243.65 million, compared to $184.66 million in Q1 2022, representing an increase of 32%[23] - The net cash outflow from operating activities was approximately -$235.32 million in Q1 2023, worsening from -$193.46 million in Q1 2022[24] - Cash inflow from investment activities decreased to approximately $347.37 million in Q1 2023 from $432.22 million in Q1 2022, a decline of about 19.6%[24] - The net cash outflow from investment activities was approximately -$303.98 million in Q1 2023, compared to a net inflow of $59.39 million in Q1 2022[24] - Cash inflow from financing activities increased significantly to approximately $561.96 million in Q1 2023 from $185.29 million in Q1 2022, an increase of about 203%[24] - The net cash flow from financing activities was approximately $370.04 million in Q1 2023, compared to $100.27 million in Q1 2022[24] - The ending cash and cash equivalents balance was approximately $269.10 million in Q1 2023, up from $134.17 million in Q1 2022[25] - The company reported a cash and cash equivalents net decrease of approximately -$169.25 million in Q1 2023, compared to -$33.81 million in Q1 2022[25] Investment and Development - The company has not disclosed any new product developments or market expansion strategies in this report[1] - There were no significant mergers or acquisitions reported during the quarter[1] - The company is progressing with a change of control, pending approval for the agreement transfer and private placement of shares[11] - The company has invested in Chengdu Sifang Weiye Software Co., holding an 11.899% stake, which is currently undergoing an IPO process[14] - The company has completed the capital contribution for a 57.51% stake in Tianjin Yixin Environmental Engineering Co., further diversifying its investment portfolio[12] - The company has focused on product transformation, shortening delivery cycles to enhance cash recovery, benefiting from improved economic conditions and government support[11] Research and Development - Research and development expenses increased to CNY 26,129,702.68 in Q1 2023, up 54.5% from CNY 16,933,651.58 in Q1 2022[20] Financial Ratios - The weighted average return on equity was -0.81%, an increase of 0.2 percentage points year-on-year[5] - Basic and diluted earnings per share for Q1 2023 were both CNY -0.04, compared to CNY -0.05 in Q1 2022[22] - The company reported a decrease in financial expenses, with a net financial income of CNY -4,486,203.66 in Q1 2023, compared to CNY -9,158,208.78 in Q1 2022[20] - The company recorded an investment loss of CNY -2,225,783.64 in Q1 2023, an improvement from CNY -4,192,752.49 in Q1 2022[20]