WAYS(SH:605218)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥287,594,342.40, representing a decrease of 12.44% compared to the same period last year[6] - Net profit attributable to shareholders was ¥10,967,917.77, an increase of 77.00% year-over-year[6] - Basic earnings per share were ¥0.0515, up 76.98% from the same period last year[6] - Total operating revenue for Q1 2023 was CNY 287,594,342.40, a decrease of 12.43% compared to CNY 328,453,790.85 in Q1 2022[22] - Net profit for Q1 2023 reached CNY 10,967,917.77, an increase of 77.45% from CNY 6,196,541.21 in Q1 2022[24] - Earnings per share for Q1 2023 was CNY 0.0515, compared to CNY 0.0291 in Q1 2022, representing a growth of 76.68%[24] - The company reported a comprehensive income total of CNY 10,913,150.08 for Q1 2023, compared to CNY 8,532,330.05 in Q1 2022, reflecting a growth of 28.00%[24] Cash Flow - The net cash flow from operating activities was -¥6,500,748.19, reflecting a decline of 131.37% compared to the previous year[6] - In Q1 2023, the cash inflow from sales of goods and services was CNY 294,326,830.10, an increase of 15.6% compared to CNY 254,640,042.35 in Q1 2022[26] - The net cash flow from operating activities was negative CNY 6,500,748.19, a decline from a positive CNY 20,726,086.42 in the same period last year[26] - The total cash outflow from operating activities was CNY 315,334,685.96, up 28.3% from CNY 245,685,882.92 in Q1 2022[26] - The cash inflow from investment activities was CNY 51,619,473.50, down 43.6% from CNY 91,616,137.67 in Q1 2022[27] - The net cash flow from investment activities was negative CNY 158,209,659.32, compared to a positive CNY 1,360,138.79 in the previous year[27] - The cash outflow from investment activities totaled CNY 209,829,132.82, significantly higher than CNY 90,255,998.88 in Q1 2022[27] - The net cash flow from financing activities was negative CNY 2,700,572.26, worsening from negative CNY 2,183,442.53 in Q1 2022[27] - The total cash and cash equivalents at the end of Q1 2023 were CNY 338,532,454.86, down from CNY 509,801,705.02 at the end of Q1 2022[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,482,936,468.44, a decrease of 2.03% from the end of the previous year[7] - The company's cash and cash equivalents decreased to CNY 341,921,311.41 from CNY 510,599,893.10, representing a decline of about 33.06%[18] - The total current liabilities decreased to CNY 267,476,898.99 from CNY 308,712,145.70, indicating a reduction of approximately 13.36%[19] - The company's accounts receivable stood at CNY 246,774,268.04, down from CNY 263,965,052.00, which is a decrease of about 6.52%[18] - The company's inventory slightly decreased to CNY 162,074,878.60 from CNY 163,919,690.72, reflecting a decline of approximately 1.13%[18] - The non-current assets totaled CNY 388,494,307.87, an increase from CNY 371,912,301.46, marking an increase of about 4.43%[19] - The total liabilities as of Q1 2023 were CNY 270,790,477.69, down from CNY 312,472,403.34 in the previous period[20] - Total equity attributable to shareholders reached CNY 1,212,145,990.75, an increase from CNY 1,201,313,391.95 in the previous period[20] Government Support and Expenses - The company received government subsidies amounting to ¥4,019,051.72, contributing to the increase in net profit[9] - Financial expenses rose by 138.91%, mainly due to increased exchange losses compared to the same period last year[10] - Research and development expenses for Q1 2023 amounted to CNY 28,360,199.48, an increase of 9.36% from CNY 25,978,386.21 in Q1 2022[23] - Financial expenses for Q1 2023 were CNY 3,609,002.28, significantly higher than CNY 1,510,604.53 in Q1 2022, indicating an increase of 138.06%[23] - Other income for Q1 2023 was CNY 4,019,051.72, a substantial increase from CNY 393,843.25 in Q1 2022[23] Strategic Initiatives - The company plans to improve production processes and reduce energy consumption to enhance product yield and gross margin[11] - The company reported a significant increase in accounts receivable financing by 282.79%, primarily due to the reclassification of notes receivable[10] - The company's derivative financial liabilities decreased to CNY 1,991,676.87 from CNY 3,403,576.64, a reduction of approximately 41.54%[19] - The company's long-term borrowings decreased to CNY 2,654,952.48 from CNY 3,100,640.76, indicating a decline of about 14.36%[19] - The company reported a significant increase in intangible assets, rising to CNY 18,885,156.89 from CNY 8,825,164.46, which is an increase of approximately 113.25%[19]