Piotech (SH:688072)2023-04-20 16:00Financial Performance - The company's operating revenue for Q1 2023 reached RMB 402,375,404.96, representing a year-on-year increase of 274.24%[4] - Net profit attributable to shareholders of the listed company was RMB 53,718,794.24, with a significant increase compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 19,642,716.09, also showing a year-on-year increase[4] - The company reported a basic earnings per share of RMB 0.42 for the reporting period[4] - Total revenue for Q1 2023 reached ¥402,375,404.96, a significant increase from ¥107,517,692.90 in Q1 2022, representing a growth of approximately 273.5%[16] - Operating profit for Q1 2023 was ¥73,052,463.63, compared to a loss of ¥12,574,453.89 in Q1 2022, indicating a turnaround in profitability[17] - Net profit for Q1 2023 amounted to ¥52,253,170.19, recovering from a net loss of ¥12,584,453.89 in the same period last year[17] - Basic and diluted earnings per share for Q1 2023 were both ¥0.42, compared to a loss of ¥0.13 per share in Q1 2022[18] Cash Flow and Investments - The net cash flow from operating activities was negative at RMB -139,601,409.34, a decrease of 300.83% compared to the previous year[4] - Cash flow from operating activities in Q1 2023 was ¥833,584,156.03, up from ¥536,045,516.74 in Q1 2022, reflecting a growth of approximately 55.5%[19] - The net cash flow from operating activities was -$139.6 million, a decrease from $69.5 million in the previous year[20] - Total cash outflow from investing activities amounted to $686.9 million, compared to $19.9 million in the same period last year[20] - The net cash flow from financing activities was $294.4 million, a significant increase from -$63,348 in the previous year[20] - The ending balance of cash and cash equivalents was $3.3 billion, down from $3.8 billion at the beginning of the period[21] - Cash inflow from investment activities totaled $4.5 million, while cash outflow was $686.9 million, resulting in a net cash flow of -$682.4 million[20] - The company received $300 million in cash from borrowings during the financing activities[20] - The company reported a significant increase in cash outflow related to the acquisition of fixed assets, totaling $127.9 million[20] Assets and Liabilities - The total assets at the end of the reporting period were RMB 7,849,475,037.35, an increase of 7.33% compared to the end of the previous year[6] - Current assets totaled ¥7,300,592,937.02, up from ¥6,820,373,329.11, indicating an increase of about 7.0% year-over-year[13] - Total liabilities increased to ¥4,046,642,275.87 from ¥3,605,390,781.35, which is an increase of about 12.2%[15] - Long-term borrowings rose significantly to ¥570,000,000.00 from ¥270,000,000.00, reflecting a growth of approximately 111.1%[15] - The company's equity attributable to shareholders increased to ¥3,807,933,616.25 from ¥3,711,530,962.28, showing a growth of about 2.6%[15] - The total current liabilities amounted to ¥3,114,004,390.28, up from ¥2,946,879,442.11, indicating an increase of approximately 5.7%[15] - The company reported a decrease in accounts receivable to ¥169,609,451.49 from ¥261,926,525.24, which is a decline of about 35.2%[13] Research and Development - Research and development (R&D) expenses totaled RMB 86,031,727.15, accounting for 21.38% of operating revenue, a decrease of 22.21 percentage points year-on-year[6] - Research and development expenses for Q1 2023 totaled ¥86,031,727.15, an increase from ¥46,869,554.73 in Q1 2022, highlighting a focus on innovation[16] Other Income and Expenses - Non-recurring gains totaled RMB 34,076,078.15, primarily from government subsidies and asset disposals[7] - The company reported a tax expense of ¥20,808,244.44 for Q1 2023, with no corresponding figure for Q1 2022, indicating a return to profitability[17] - Other income for Q1 2023 was ¥38,385,322.39, compared to ¥10,337,325.20 in Q1 2022, showing a significant increase in additional revenue streams[16] Sales and Marketing - The company experienced a significant increase in sales orders, contributing to the revenue growth[8] - Sales expenses in Q1 2023 reached ¥55,013,357.77, up from ¥20,610,118.25 in Q1 2022, reflecting increased marketing efforts[16]