MGI(SH:688114)2023-04-24 16:00Financial Performance - The company's revenue for Q1 2023 was ¥619,002,726.63, representing a decrease of 49.25% compared to the same period last year[4] - The net profit attributable to shareholders was -¥149,816,707.55, a decline of 143.78% year-over-year[4] - The net cash flow from operating activities was -¥451,671,394.87, reflecting a decrease of 493.91% compared to the previous year[4] - The basic earnings per share were -¥0.36, a decrease of 139.13% compared to the same period last year[4] - Total operating revenue for Q1 2023 was ¥619,002,726.63, a decrease of 49.2% compared to ¥1,219,792,640.81 in Q1 2022[27] - Net loss for Q1 2023 was ¥150,045,829.72, compared to a net profit of ¥342,050,181.17 in Q1 2022[28] - Other comprehensive income after tax for Q1 2023 was -¥20,173,635.34, compared to -¥10,493,513.28 in Q1 2022[28] - The company reported a comprehensive loss of ¥170,219,465.06 in Q1 2023, compared to a comprehensive income of ¥331,556,667.89 in Q1 2022[28] Research and Development - Research and development expenses totaled ¥218,799,003.24, an increase of 40.10% year-over-year, accounting for 35.35% of total revenue, up 22.54 percentage points[6] - R&D expenses increased to ¥218,799,003.24 in Q1 2023, up 40.0% from ¥156,167,891.07 in Q1 2022[27] - The company plans to continue investing in technology and product innovation in areas such as gene sequencing instruments and automation systems[10] Assets and Liabilities - The total assets at the end of the reporting period were ¥10,721,111,718.51, a decrease of 4.43% from the end of the previous year[6] - As of March 31, 2023, the company's total assets amounted to approximately ¥10.72 billion, a decrease from ¥11.22 billion as of December 31, 2022[24] - Total liabilities decreased to ¥1,435,574,221.97 in Q1 2023 from ¥1,765,726,951.92 in Q1 2022, a reduction of 18.6%[26] - Total equity decreased to ¥9,285,537,496.54 in Q1 2023 from ¥9,452,593,954.56 in Q1 2022, a decline of 1.8%[26] Cash Flow - The company's cash and cash equivalents decreased to approximately ¥5.92 billion from ¥6.48 billion year-over-year[24] - The net cash outflow from operating activities was ¥451,671,394.87, contrasting with a net inflow of ¥114,664,822.75 in the same period last year[30] - Cash outflows for purchasing goods and services amounted to ¥569,709,074.92, down from ¥639,661,123.15 in Q1 2022, indicating a reduction of about 11%[30] - The company experienced a net cash outflow from investing activities of ¥58,564,670.42, compared to a smaller outflow of ¥13,794,184.28 in Q1 2022[31] - Cash outflows related to financing activities totaled ¥19,558,891.20, which is an increase from ¥11,131,869.97 in the previous year[31] - The net decrease in cash and cash equivalents for the quarter was ¥557,075,740.90, contrasting with an increase of ¥76,774,763.74 in Q1 2022[31] - The ending balance of cash and cash equivalents was ¥5,911,909,785.68, down from ¥2,662,223,101.48 at the end of Q1 2022[31] Market and Product Developments - The decline in revenue was primarily due to a decrease in demand for automation products[9] - The company launched its full range of sequencing products in the U.S. in January 2023, enhancing sequencing capabilities for users across various fields[21] - The newly released DNBSEQ-T20×2 sequencing instrument achieves a single-run throughput of 42Tb (PE100) or 72Tb (PE150), significantly reducing the cost of whole genome sequencing to below $100[22] - The European Patent Office declared Illumina's patent invalid, allowing the company to sell its full range of sequencing instruments in multiple European countries[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,724[11] Employee Compensation - The company reported a significant reduction in employee compensation liabilities, decreasing from approximately ¥277.29 million to ¥145.79 million[25] - Employee compensation payments rose to ¥441,555,569.23, up from ¥289,413,445.54 in Q1 2022, reflecting a significant increase of about 53%[30]