SHENGYI ELECTRONICS CO.(SH:688183)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥742,604,987.42, representing a decrease of 13.69% compared to the same period last year[3]. - The net profit attributable to shareholders was a loss of ¥4,008,036.13, with a net profit excluding non-recurring items of ¥-7,299,416.52[3]. - The company experienced a decline in production and sales scale due to delayed customer demand and increased fixed costs, leading to a decrease in gross profit[5]. - The company's total liabilities decreased to ¥2,626,186,850.18 as of March 31, 2023, from ¥2,877,205,443.16 at the end of 2022, representing a reduction of 8.7%[17]. - The net profit for Q1 2023 was -¥4,008,036.13, a significant decline from a net profit of ¥74,716,070.90 in Q1 2022[19]. - The comprehensive income total for Q1 2023 was -¥4,037,740.84, contrasting with a comprehensive income of ¥74,880,796.63 in Q1 2022[19]. - The net profit for Q1 2023 was a loss of ¥12,223,631.94, compared to a profit of ¥63,830,051.84 in Q1 2022, indicating a significant decline[28]. - The company recorded a comprehensive loss of ¥12,244,956.15 in Q1 2023, compared to a comprehensive income of ¥63,994,777.57 in Q1 2022[29]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 14.21% to ¥215,475,877.93[3]. - In Q1 2023, the company reported a net cash flow from operating activities of CNY 215,475,877.93, an increase of 14.4% compared to CNY 188,666,373.26 in Q1 2022[20]. - The company experienced a net cash outflow from investing activities of CNY -145,535,799.76, compared to CNY -137,818,979.98 in Q1 2022[21]. - Cash inflow from financing activities decreased to CNY 317,470,000.00, down 37.1% from CNY 505,718,683.45 in Q1 2022[21]. - The ending balance of cash and cash equivalents was CNY 1,187,693,080.86, a decrease from CNY 1,256,336,751.63 at the end of 2022[21]. - The company received cash from borrowings of 255,470,000.00 RMB in Q1 2023, a decrease of 49.5% compared to 505,718,683.45 RMB in Q1 2022[30]. - The total cash and cash equivalents at the end of Q1 2023 amounted to 1,175,091,463.34 RMB, down from 1,253,458,933.96 RMB at the end of Q1 2022, reflecting a decrease of about 6.25%[30]. Assets and Liabilities - Total assets at the end of Q1 2023 were ¥6,706,260,808.95, down 3.66% from the end of the previous year[4]. - The company's total assets as of March 31, 2023, were CNY 6,585,505,753.67, down from CNY 6,896,811,068.01 at the end of 2022[24]. - The company's total liabilities decreased to ¥2,494,723,962.85 in Q1 2023 from ¥2,793,784,321.04 in Q4 2022, reflecting a reduction of approximately 10.7%[25]. - The company's total equity as of March 31, 2023, was ¥4,090,781,790.82, slightly down from ¥4,103,026,746.97 at the end of 2022[25]. - The company’s total current liabilities decreased from RMB 1,675,000,000 to RMB 1,453,000,000, indicating a reduction of about 13.25%[15]. - The total liabilities increased to 2,883,675,674.43 RMB as of January 1, 2023, up from 2,877,205,443.16 RMB, marking an increase of approximately 0.22%[35]. Research and Development - R&D expenses totaled ¥39,333,476.73, accounting for 5.30% of operating revenue, an increase of 0.17 percentage points year-on-year[3]. - Research and development expenses for Q1 2023 were ¥39,333,476.73, a decrease of 10.2% compared to ¥44,145,332.10 in Q1 2022[18]. - Research and development expenses for Q1 2023 were ¥32,765,488.61, down 11% from ¥36,788,599.52 in Q1 2022[28]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,275[6]. - The largest shareholder, Guangdong Shengyi Technology Co., Ltd., holds 62.93% of the shares[7]. - The total equity attributable to shareholders was ¥4,080,073,958.77, slightly down from ¥4,084,111,699.61 at the end of 2022[17]. Strategic Initiatives - The company completed the deregistration of the Hongmei branch, which was part of a strategic restructuring initiative[12]. - The company is in the trial production phase for its 5G application high-speed and high-density printed circuit board expansion project[5]. - The company has committed to invest RMB 0.45 billion in a new industry fund, increasing its stake from 8.91% to 10.82% after the final capital contribution of RMB 4.16 billion was established[10].