Weigao Orthopaedic(SH:688161)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥389,781,832.60, representing a year-on-year increase of 0.57% compared to ¥387,574,619.74 in the same period last year[6]. - Net profit attributable to shareholders was ¥94,138,278.36, a decrease of 18.11% from ¥114,953,718.82 in the previous year[6]. - The net profit after deducting non-recurring gains and losses was ¥91,026,500.35, down 19.31% from ¥112,803,321.51 in the previous year[6]. - The company reported a basic and diluted earnings per share of ¥0.24, a decrease of 17.24% from ¥0.29 in the same period last year[19]. - Net profit for Q1 2023 was RMB 94,089,505.89, a decrease of 18.2% from RMB 114,908,534.45 in Q1 2022[54]. - The basic earnings per share for Q1 2023 was RMB 0.24, down from RMB 0.29 in Q1 2022[54]. Cash Flow and Liquidity - The net cash generated from operating activities was ¥33,368,877.54, down 81.60% from ¥181,308,485.82 in the same period last year[6]. - Cash inflow from operating activities for Q1 2023 was $495,753,784.36, a decrease of 12.8% compared to $568,437,515.99 in Q1 2022[56]. - Net cash flow from operating activities was $33,368,877.54, down 81.6% from $181,308,485.82 in the same period last year[56]. - Cash outflow from operating activities increased to $462,384,906.82, up 19.4% from $387,129,030.17 in Q1 2022[56]. - Cash and cash equivalents at the end of Q1 2023 were $2,049,281,131.87, down from $2,742,430,707.67 at the end of Q1 2022[57]. - The company reported a significant increase in cash paid for purchasing goods and services, which rose to $104,744,099.73 from $58,210,369.65 in Q1 2022[56]. - The company’s cash flow from other operating activities decreased to $21,584,208.94 from $70,658,125.78 in Q1 2022, highlighting a decline in ancillary income sources[56]. Research and Development - R&D investment totaled ¥27,331,141.04, which is 7.01% of operating revenue, an increase of 1.83 percentage points compared to the previous year[19]. - R&D investment increased by 36.21%, indicating a significant rise in technology development efforts[41]. - Research and development expenses increased to RMB 27,331,141.04 in Q1 2023, compared to RMB 20,064,957.67 in Q1 2022, reflecting a growth of 36.4%[54]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,431,681,083.51, a decrease of 9.70% from the previous year[19]. - The total assets decreased from 6,015,055,250.84 to 5,431,681,083.51, representing a decline of approximately 9.7%[30]. - The total current assets decreased from 5,248,998,758.00 to 4,674,642,163.22, a reduction of about 10.9%[30]. - The total liabilities as of March 31, 2023, were RMB 1,361,102,469.75, an increase from RMB 1,008,842,421.97 as of December 31, 2022[52]. - The company's total equity decreased to RMB 4,070,578,613.76 as of March 31, 2023, down from RMB 5,006,212,828.87 at the end of 2022[52]. - The equity attributable to shareholders decreased by 18.69% due to the acquisition of a subsidiary under common control, which reduced the capital reserve[41]. Business Development and Strategy - The company launched new products, including the "PEEK cranial plate" and "absorbable interface screws," enhancing its offerings in neurosurgery and sports medicine[26][27]. - The company is transforming its sales model to improve terminal surgical volumes by establishing a nationwide logistics distribution network[26]. - The company is expanding into new business areas in orthopedics, particularly in sports medicine and neurosurgery, to support ongoing development[45]. - The company is leveraging its advantages in production lines and brand diversity to enhance market share amid centralized procurement initiatives[45]. - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[54].