Sunxing(SH:603978)2023-04-24 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥267,259,648.41, representing a decrease of 29.45% compared to the same period last year[5] - The net profit attributable to shareholders was -¥13,473,296.56, a decline of 144.76% year-on-year[5] - The net cash flow from operating activities was -¥91,434,066.85, reflecting a significant decrease of 2,154.92% compared to the previous year[5] - Basic earnings per share were -¥0.08, down 144.44% from the same period last year[6] - The company reported a net loss for Q1 2023, with total operating costs exceeding total operating revenue[19] - In Q1 2023, the company reported a net profit of -13,473,296.56 RMB, a significant decrease compared to a net profit of 30,099,157.69 RMB in Q1 2022, representing a decline of approximately 144.8%[20] - Operating profit for Q1 2023 was -14,417,543.98 RMB, compared to an operating profit of 33,849,601.15 RMB in the same period last year, indicating a decline of around 142.6%[20] - The total comprehensive income for Q1 2023 was -13,473,296.56 RMB, compared to 30,099,157.69 RMB in Q1 2022, indicating a decrease of approximately 144.8%[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,272,780,997.13, an increase of 2.62% from the end of the previous year[6] - Total assets as of March 31, 2023, were RMB 3,272,780,997.13, up from RMB 3,189,095,157.56 at the end of 2022, showing an increase of 2.6%[17] - Total liabilities increased to RMB 1,553,922,451.20 from RMB 1,456,784,649.76, reflecting a rise of 6.7%[17] - Non-current liabilities totaled RMB 753,733,256.84, up from RMB 656,614,711.58, marking an increase of 14.8%[17] Shareholder Information - The total number of common shareholders at the end of the reporting period was 17,149[10] - The largest shareholder, Chen Xueming, held 43,409,400 shares, representing 26.16% of the total shares[11] Revenue and Costs - Total operating revenue for Q1 2023 was RMB 267,259,648.41, a decrease of 29.5% compared to RMB 378,802,067.82 in Q1 2022[19] - Total operating costs for Q1 2023 were RMB 286,922,501.83, down from RMB 352,246,840.93 in Q1 2022, reflecting a reduction of 18.5%[19] - Total revenue from sales of goods and services received in Q1 2023 was 196,206,409.32 RMB, down from 301,959,893.94 RMB in Q1 2022, reflecting a decrease of approximately 35%[23] Cash Flow and Financing - Cash and cash equivalents as of March 31, 2023, amounted to RMB 361,421,236.18, slightly down from RMB 365,766,709.90 at the end of 2022[15] - The company's cash flow from operating activities showed a net outflow of -91,434,066.85 RMB in Q1 2023, a stark contrast to a net inflow of 4,449,521.57 RMB in Q1 2022[24] - Cash and cash equivalents at the end of Q1 2023 were 355,365,179.01 RMB, a decrease from 297,305,907.85 RMB at the end of Q1 2022[25] - The company raised 230,130,000.00 RMB through borrowings in Q1 2023, compared to 140,000,000.00 RMB in Q1 2022, indicating a 64.3% increase in financing activities[25] Expenses - Research and development expenses increased to 17,125,254.22 RMB in Q1 2023, up from 15,699,404.80 RMB in Q1 2022, marking an increase of about 9.0%[20] - The company incurred financial expenses of 12,585,052.80 RMB in Q1 2023, compared to 8,991,142.20 RMB in Q1 2022, representing an increase of approximately 40.5%[20] Management Focus - The company is focusing on reducing operating costs and improving cash flow management in the upcoming quarters[19] - The company attributed the decline in net profit to a significant drop in the market price of lithium hexafluorophosphate and asset impairment losses[9] - Non-recurring gains and losses amounted to ¥1,583,441.06, after accounting for tax effects[9]