TYSJ(SH:688033)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 reached ¥311,121,465.34, representing a year-on-year increase of 79.45%[2] - Net profit attributable to shareholders was ¥45,289,643.51, an increase of 32.16% compared to the same period last year[2] - The net cash flow from operating activities was ¥22,970,376.54, showing a significant increase of 119.27% year-on-year[2] - The total operating revenue for Q1 2023 was CNY 311,121,465.34, representing an increase of 79.5% compared to CNY 173,374,008.80 in Q1 2022[17] - The net profit for Q1 2023 was CNY 51,273,944.37, which is a 44.5% increase from CNY 35,488,548.94 in Q1 2022[19] - The company's equity attributable to shareholders was CNY 5,160,081,802.70 in Q1 2023, compared to CNY 5,112,435,606.69 in Q1 2022, reflecting a growth of 0.9%[16] Assets and Liabilities - Total assets at the end of Q1 2023 amounted to ¥6,917,116,448.22, reflecting a 0.88% increase from the end of the previous year[3] - The company's total assets as of Q1 2023 amounted to CNY 6,917,116,448.22, compared to CNY 6,856,575,026.44 at the end of Q1 2022, reflecting a growth of 0.9%[16] - The total liabilities for Q1 2023 were CNY 1,691,217,535.43, slightly up from CNY 1,684,350,116.53 in Q1 2022, showing an increase of 0.4%[16] Cash Flow - The company's cash and cash equivalents amounted to approximately RMB 1.72 billion, a decrease from RMB 2.07 billion at the end of 2022, representing a decline of about 17%[14] - The company's cash and cash equivalents at the end of Q1 2023 stood at CNY 1,713,125,289.58, compared to CNY 588,104,998.40 at the end of Q1 2022, showing a substantial increase of about 191%[22] - The company experienced a net decrease in cash and cash equivalents of CNY -359,573,578.89 in Q1 2023, compared to a decrease of CNY -27,518,893.84 in Q1 2022[22] Research and Development - R&D investment totaled ¥22,387,940.18, which is a 51.25% increase compared to the same period last year[2] - R&D expenditure accounted for 7.20% of operating revenue, a decrease of 1.34 percentage points year-on-year[2] - The R&D expenses for Q1 2023 were CNY 22,387,940.18, which is a 51.1% increase from CNY 14,801,976.64 in Q1 2022[18] Production and Operations - The growth in operating revenue was primarily driven by the photovoltaic thermal field component business segment[4] - The annualized production capacity of carbon-carbon composite materials has reached 3,500 tons, with plans to increase to 5,500 tons by the end of 2023 following the installation of the fourth-generation deposition equipment[10] - The company has expanded its quartz crucible production lines from 4 to a planned 8 lines, with an annual design capacity of 86,000 units, and is constructing 20 additional lines in Jiangyou, aiming for an annual capacity of 216,000 units[12] Quality and Supply Chain - The acquisition of Xinyiyang High-tech Materials Co., Ltd. has enhanced the company's management team and operational capabilities, leading to improved product quality and customer satisfaction in quartz crucibles[11] - The company has implemented a quality strategy focusing on enhancing product quality and consistency, including the automation of existing production lines for quartz crucibles[11] - The company has signed strategic cooperation agreements with major suppliers in the quartz sand industry to ensure a stable supply of raw materials[11] Inventory and Receivables - The company's accounts receivable as of March 31, 2023, stood at approximately RMB 936.81 million, slightly down from RMB 949.56 million at the end of 2022[14] - The inventory level increased to approximately RMB 320.42 million as of March 31, 2023, compared to RMB 294.04 million at the end of 2022, indicating a rise of about 9%[14] - The company experienced a significant increase in customer receivables, contributing to the rise in cash flow from operations[4]