Smartgiant(SH:688115)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥31,228,326.28, representing a decrease of 43.14% compared to the same period last year[5] - The net profit attributable to shareholders was -¥10,225,552.16, a decline of 164.52% year-on-year[5] - The basic earnings per share were -¥0.15, down 146.88% compared to the previous year[6] - Net loss for Q1 2023 was ¥10,225,552.16, compared to a net profit of ¥15,848,238.93 in Q1 2022, representing a significant decline[20] - Basic and diluted earnings per share for Q1 2023 were both -¥0.15, down from ¥0.32 in Q1 2022[21] - The company reported a comprehensive loss of ¥10,264,833.91 in Q1 2023, compared to a comprehensive income of ¥15,848,238.93 in Q1 2022[21] Research and Development - The R&D investment totaled ¥14,081,403.26, accounting for 45.09% of operating revenue, an increase of 24.13 percentage points[6] - Research and development expenses rose to ¥14,081,403.26 in Q1 2023, up 22.4% from ¥11,512,502.40 in Q1 2022[19] - The company continues to focus on R&D and market expansion despite the financial setbacks, indicating a long-term growth strategy[8] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,490,158,493.50, reflecting a growth of 6.86% from the end of the previous year[6] - As of March 31, 2023, the company's total assets amounted to RMB 1,490,158,493.50, an increase from RMB 1,394,434,375.00 at the end of 2022, reflecting a growth of approximately 6.8%[14] - The company's total liabilities increased to ¥150,000,000.00, compared to ¥10,000,000.00, reflecting a substantial increase of 1400%[15] - Total liabilities increased to ¥166,109,912.13 in Q1 2023, compared to ¥61,447,366.91 in Q1 2022, indicating a significant rise[19] - The company's non-current assets totaled RMB 117,516,748.41, up from RMB 78,261,350.18, indicating a growth of approximately 50.2%[15] Cash Flow - The company experienced a significant increase in cash flow from operating activities, with a net cash flow of -¥12,468,709.80, which is not applicable for year-on-year comparison[5] - Cash inflow from operating activities was ¥46,504,020.08 in Q1 2023, an increase of 42.0% from ¥32,744,998.73 in Q1 2022[22] - The net cash flow from operating activities was -$12,468,709.80, an improvement from -$24,925,693.64 in the previous year, indicating a reduction in cash outflow[23] - The total cash and cash equivalents at the end of the period were $1,065,318,042.58, up from $1,010,871,851.75 at the beginning of the period[24] - The net increase in cash and cash equivalents was $54,446,190.83, compared to $947,003,473.95 in the previous year, showing a significant decline[23] Operational Challenges - The company faced challenges due to a slowdown in downstream consumer demand, leading to delayed customer procurement schedules[8] - The increase in production costs due to production line upgrades contributed to a decline in gross profit margin[8] Current Assets and Inventory - The company's cash and cash equivalents reached RMB 1,069,303,242.58, up from RMB 1,014,857,051.75 at the end of 2022, indicating an increase of about 5.4%[14] - Accounts receivable decreased to RMB 216,142,114.62 from RMB 228,327,051.50, representing a decline of approximately 5.3%[14] - Inventory increased to RMB 59,315,081.23, compared to RMB 48,619,108.81 at the end of 2022, marking a rise of about 22.0%[14] - The company reported a total current asset of RMB 1,372,641,745.09, an increase from RMB 1,316,173,024.82, which is a growth of about 4.3%[14] Tax and Other Payments - The company paid $6,759,739.18 in various taxes, compared to $761,495.68 in the previous year, indicating an increase in tax payments[23] Accounting Standards - The company did not apply new accounting standards or interpretations for the first quarter of 2023[24]