Shanghai Titan Scientific (SH:688133)2023-04-27 16:00Major Financial Data Major Accounting Data and Financial Metrics The company achieved 655 million CNY in Q1 2023 operating revenue, growing 12.68%, with net profit increasing 29.17% to 25.10 million CNY and R&D investment reaching 5.68% of revenue Key Financial Metrics for Q1 2023 | Metric | Current Period | Year-over-Year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 655 million CNY | 12.68% | | Net Profit Attributable to Shareholders | 25.10 million CNY | 29.17% | | Net Profit Attributable to Shareholders (Excl. Non-Recurring) | 22.52 million CNY | 39.49% | | Net Cash Flow from Operating Activities | -158 million CNY | N/A | | Basic EPS (CNY/share) | 0.30 CNY | 20.00% | | Total R&D Investment | 37.23 million CNY | 16.25% | | R&D Investment as % of Operating Revenue | 5.68% | +0.17 percentage points | Key Balance Sheet Metrics at Period End | Metric | End of Current Period | Change from End of Previous Year (%) | | :--- | :--- | :--- | | Total Assets | 3.997 billion CNY | 0.63% | | Total Equity Attributable to Shareholders | 2.751 billion CNY | 1.15% | Non-Recurring Gains/Losses Items and Amounts During the reporting period, the company's total non-recurring gains/losses amounted to 2.58 million CNY, primarily from government grants recognized in current period profit and loss Q1 2023 Non-Recurring Gains/Losses Details | Item | Amount (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | -12,521.64 | | Government Grants Recognized in Current Period P&L | 3,486,752.05 | | Fair Value Changes from Trading Financial Assets, etc. | 41,133.46 | | Other Non-Operating Income and Expenses | -31,726.87 | | Less: Income Tax Impact | 535,080.26 | | Less: Impact of Minority Interests (After Tax) | 372,347.07 | | Total | 2,576,209.67 | Analysis of Major Financial Metric Changes The company's net profit excluding non-recurring items grew 39.49%, significantly outpacing revenue growth due to stable expenses and improved marginal benefits - The 39.49% growth in net profit excluding non-recurring items was primarily driven by sustained revenue growth in Q1 coupled with relatively stable expenses, leading to improved marginal benefits and a higher profit growth rate than revenue growth89 Shareholder Information Shareholding Status of Shareholders As of the reporting period end, the company had 5,374 common shareholders, with the top five being concerted parties, indicating a relatively concentrated ownership structure that includes various institutional investors - At the end of the reporting period, the company had 5,374 common shareholders11 - The company's top five shareholders, Xie Yingbo, Zhang Qing, Zhang Mo, Xu Fengyuan, and Wang Jingyu, are concerted parties12 Top Ten Shareholders' Holdings | Shareholder Name | Shareholding Percentage (%) | Shareholder Type | | :--- | :--- | :--- | | Xie Yingbo | 9.85 | Domestic Individual | | Zhang Qing | 4.57 | Domestic Individual | | Zhang Mo | 4.57 | Domestic Individual | | Wang Jingyu | 4.57 | Domestic Individual | | Xu Fengyuan | 4.57 | Domestic Individual | | Suzhou Zhongding No. 5 Equity Investment Partnership (LP) | 3.72 | Domestic Non-State-Owned Legal Person | | Tianjin Chuangfeng Xinhu Venture Capital Partnership (LP) | 2.75 | Domestic Non-State-Owned Legal Person | | GF Securities Co., Ltd. | 1.81 | State-Owned Legal Person | | National Council for Social Security Fund 418 Portfolio | 1.71 | State-Owned Legal Person | | Shanghai Science and Technology Venture Capital Co., Ltd. | 1.45 | State-Owned Legal Person | Other Reminders Other Important Information The company has no other significant operational information requiring special investor attention during this reporting period - There is no other significant operational information regarding the company's business that requires investor attention during the reporting period13 Quarterly Financial Statements Type of Audit Opinion The financial statements for this quarter are unaudited - The company's Q1 2023 financial statements are unaudited413 Financial Statements This section presents the company's unaudited consolidated balance sheet, income statement, and cash flow statement for Q1 2023 Consolidated Balance Sheet As of March 31, 2023, total assets were 3.997 billion CNY, a 0.63% increase from year-end, with current assets comprising approximately 78%, while total liabilities decreased slightly to 1.198 billion CNY, and equity attributable to parent company shareholders grew 1.15% to 2.751 billion CNY Key Balance Sheet Items (Unit: Billion CNY) | Item | March 31, 2023 | December 31, 2022 | Change | | :--- | :--- | :--- | :--- | | Total Assets | 3.997 | 3.972 | +0.63% | | Cash and Cash Equivalents | 1.161 | 1.390 | -16.47% | | Accounts Receivable | 0.736 | 0.610 | +20.66% | | Inventories | 0.910 | 0.850 | +7.06% | | Total Liabilities | 1.198 | 1.205 | -0.60% | | Short-term Borrowings | 0.485 | 0.509 | -4.71% | | Equity Attributable to Parent Company Shareholders | 2.751 | 2.720 | +1.15% | Consolidated Income Statement In Q1 2023, the company achieved 655 million CNY in total operating revenue, a 12.68% year-over-year increase, with improved gross margin due to controlled operating costs, and net profit attributable to parent company shareholders reaching 25.10 million CNY, up 29.17% Key Income Statement Items (Unit: Billion CNY) | Item | Q1 2023 | Q1 2022 | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 0.655 | 0.582 | +12.68% | | Total Operating Costs | 0.623 | 0.560 | +11.17% | | Including: Operating Costs | 0.507 | 0.464 | +9.29% | | Selling Expenses | 0.045 | 0.039 | +17.19% | | Administrative Expenses | 0.028 | 0.021 | +32.77% | | R&D Expenses | 0.036 | 0.030 | +21.30% | | Operating Profit | 0.028 | 0.021 | +32.42% | | Net Profit Attributable to Parent Company Shareholders | 0.025 | 0.019 | +29.17% | | Basic EPS (CNY/share) | 0.30 | 0.25 | +20.00% | Consolidated Cash Flow Statement In Q1 2023, net cash flow from operating activities was -158 million CNY, a significant improvement from -226 million CNY in the prior year, with net cash outflows from investing and financing activities of 55 million CNY and 11 million CNY, respectively, and cash and cash equivalents at period end totaling 1.156 billion CNY Key Cash Flow Statement Items (Unit: Billion CNY) | Item | Q1 2023 | Q1 2022 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -0.158 | -0.226 | | Net Cash Flow from Investing Activities | -0.055 | -0.226 | | Net Cash Flow from Financing Activities | -0.011 | 0.333 | | Net Increase in Cash and Cash Equivalents | -0.225 | -0.119 | | Cash and Cash Equivalents at Period End | 1.156 | 0.542 |