SongYang(SH:603863)2023-04-26 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥120,033,116.26, a decrease of 46.16% compared to the same period last year[5] - The net profit attributable to shareholders was a loss of ¥26,014,429.91, representing a decline of 1,341.67% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥32,612,707.20, down 2,152.91% from the previous year[5] - Basic earnings per share were -¥0.13, reflecting a decline of 1,400.00% year-on-year[5] - The total operating costs for Q1 2023 were CNY 166.7 million, a decrease from CNY 230.2 million in Q1 2022, representing a reduction of approximately 27.6%[19] - The net profit for Q1 2023 was a loss of CNY 26.0 million, compared to a profit of CNY 2.1 million in Q1 2022, indicating a significant decline in profitability[20] - The total comprehensive income for Q1 2023 was a loss of CNY 26.0 million, compared to a comprehensive income of CNY 2.1 million in Q1 2022[20] - The basic and diluted earnings per share for Q1 2023 were both CNY -0.13, compared to CNY 0.01 in Q1 2022[20] Cash Flow and Assets - The net cash flow from operating activities was ¥26,418,569.40, a decrease of 139.40% compared to the same period last year[5] - The cash flow from operating activities generated a net inflow of CNY 26.4 million in Q1 2023, contrasting with a net outflow of CNY 67.1 million in Q1 2022[23] - The cash flow from investing activities generated a net inflow of CNY 7.4 million in Q1 2023, compared to a net outflow of CNY 21.7 million in Q1 2022[24] - The cash flow from financing activities resulted in a net outflow of CNY 23.9 million in Q1 2023, compared to a net outflow of CNY 56.3 million in Q1 2022[24] - Current assets as of March 31, 2023, totaled RMB 276,579,978.21, up from RMB 152,581,299.50 at the end of 2022, indicating a significant increase of 81.2%[14] - Cash and cash equivalents increased to RMB 21,534,332.65 from RMB 11,569,230.55, representing an increase of 86.1%[14] - Accounts receivable decreased to RMB 25,811,603.44 from RMB 50,710,378.50, a decline of 49.1%[14] - Inventory rose to RMB 104,284,817.36 from RMB 77,092,536.50, reflecting an increase of 35.3%[15] - Total assets at the end of the reporting period were ¥1,580,057,008.98, a slight decrease of 0.23% from the end of the previous year[6] - Total assets as of March 31, 2023, were RMB 1,580,057,008.98, down from RMB 1,583,639,850.03, a decrease of 0.2%[16] - Non-current assets decreased to RMB 1,303,477,030.77 from RMB 1,431,058,550.53, a reduction of 8.9%[15] - Total liabilities as of March 31, 2023, were RMB 708,976,280.72, compared to RMB 686,536,072.69 at the end of 2022, showing a slight increase of 3.1%[16] - The company’s retained earnings decreased to RMB 57,696,532.10 from RMB 83,710,962.01, a decline of 30.9%[16] Shareholder Equity and Returns - The weighted average return on equity decreased by 3.12 percentage points to -2.94%[6] - The equity attributable to shareholders was ¥870,347,079.90, down 2.90% from the previous year-end[6] Non-Recurring Gains and Expenses - The company reported non-recurring gains of ¥6,598,277.29, primarily from the disposal of non-current assets[8] - Research and development expenses for Q1 2023 were CNY 3.5 million, down from CNY 7.8 million in Q1 2022, reflecting a decrease of approximately 55.2%[19] - The company recorded investment income of CNY 8.0 million in Q1 2023, while there was no investment income reported in Q1 2022[19] Revenue and Market Conditions - The decline in revenue and profit was primarily due to weak downstream demand and intense competition in the industry, leading to significant losses in gross profit margins[9] - Total operating revenue for Q1 2023 was RMB 120,033,116.26, a decrease of 46.5% compared to RMB 222,960,117.80 in Q1 2022[18]