SOKAN(SH:688157)2023-04-17 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥94,205,867.07, representing a decrease of 19.50% compared to the same period last year[5] - The net profit attributable to shareholders was ¥3,034,748.79, down 84.85% year-on-year[5] - The basic earnings per share for the period was ¥0.04, reflecting a decline of 84.00% year-on-year[6] - The company experienced a 50.24% decrease in cash and cash equivalents, mainly due to increased purchases of financial products[8] - Revenue from high-end consumer electronics coatings decreased, with mobile phone and related accessories down 35.99% year-on-year[14] - Revenue from the passenger car sector increased by 45.11% year-on-year, totaling CNY 16.59 million[14] - The decline in performance is attributed to the traditional off-season and inventory destocking in the industry[13] - The total comprehensive income for Q1 2023 is CNY 1,792,304.78, down from CNY 19,412,714.52 in Q1 2022, indicating a decrease of about 90.8%[20] - The net profit for Q1 2023 was CNY 6,461,111.79, down 72.3% from CNY 23,313,041.29 in Q1 2022[30] Research and Development - The R&D investment totaled ¥17,267,364.26, an increase of 50.91% compared to the previous year, accounting for 18.33% of operating revenue, up 8.55 percentage points[6] - The company plans to continue expanding its R&D efforts to develop new products and technologies[8] - Research and development expenses increased to ¥17,267,364.26 in Q1 2023, up 50.5% from ¥11,442,478.61 in Q1 2022[19] - The company plans to continue focusing on R&D and market expansion strategies to improve future performance[30] Assets and Liabilities - The total assets at the end of the period were ¥1,399,063,606.32, a decrease of 0.81% from the end of the previous year[6] - Total current assets amounted to CNY 802.06 million, compared to CNY 832.43 million at the end of 2022[15] - Total non-current assets amounted to ¥597,005,439.88, an increase from ¥578,104,859.23 in the previous period[17] - Total liabilities decreased to ¥131,654,098.24 in Q1 2023 from ¥146,650,119.61 in Q1 2022, a reduction of 10.2%[17] - The total equity attributable to shareholders increased to ¥1,253,175,020.10 in Q1 2023 from ¥1,248,422,889.39 in Q1 2022, reflecting a growth of 0.2%[17] Cash Flow - Cash flow from operating activities was ¥1,990,999.41, with no applicable year-on-year comparison[5] - Cash inflows from operating activities were CNY 117,632,862.77, an increase from CNY 110,587,358.12 in Q1 2022[31] - The net cash flow from operating activities was -$7,208,756.89, compared to -$2,034,000.02 in the previous year, indicating a decline in operational performance[32] - The total cash inflow from investment activities in Q1 2023 is CNY 256,506,070.66, compared to CNY 135,243,498.56 in Q1 2022, showing an increase of about 89.9%[23] - The net cash outflow from investment activities for Q1 2023 is CNY -244,071,324.69, worsening from CNY -188,199,244.75 in Q1 2022[23] Shareholder Information - The company had a total of 2,892 common stock shareholders at the end of the reporting period[12] - The company is entering a critical strategic development phase in 2023[13]