Triductor(SH:688259)2023-04-24 16:00Financial Performance - Revenue for Q1 2023 was CNY 142,300,197.23, a decrease of 38.23% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 15,088,256.54, down 40.73% year-on-year[5] - Net profit excluding non-recurring gains and losses was CNY 12,217,910.70, a decline of 47.91% compared to the previous year[5] - Basic and diluted earnings per share were CNY 0.19, down 45.71% year-on-year[6] - Total revenue for Q1 2023 was ¥142,300,197.23, a decrease of 38.2% compared to ¥230,375,807.79 in Q1 2022[17] - Net profit for Q1 2023 was ¥15,088,256.54, a decline of 40.7% from ¥25,456,076.86 in Q1 2022[18] - Basic and diluted earnings per share for Q1 2023 were both ¥0.19, down from ¥0.35 in Q1 2022[19] Cash Flow and Liquidity - Operating cash flow improved significantly, with a net cash flow from operating activities of CNY 47,042,026.60, an increase of 295.9% year-on-year[6] - Cash flow from operating activities for Q1 2023 was ¥47,042,026.60, an increase from ¥11,882,273.61 in Q1 2022[19] - Cash received from operating activities totaled ¥147,639,180.39 in Q1 2023, down from ¥277,779,001.40 in Q1 2022[19] - Total cash and cash equivalents at the end of the period amounted to $367.13 million, compared to $911.12 million in the previous year[20] - The net increase in cash and cash equivalents for the quarter was $51.57 million, compared to an increase of $885.52 million in the previous year[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,179,620,204.86, a decrease of 0.88% from the end of the previous year[6] - The total current assets decreased to ¥1,605,181,600.76 from ¥1,665,436,039.56, indicating a decline of about 3.5%[15] - The company's inventory increased to ¥169,947,625.65 from ¥129,809,499.55, reflecting a rise of approximately 30.9%[15] - Total liabilities as of Q1 2023 were ¥677,853,239.86, compared to ¥712,326,556.40 in the previous year[16] - Total equity attributable to shareholders was ¥1,501,766,965 as of Q1 2023, up from ¥1,486,678,708.46 in Q1 2022[16] Research and Development - R&D investment totaled CNY 34,132,756.11, representing 23.99% of revenue, an increase of 7.48 percentage points from the previous year[6] - Research and development expenses for Q1 2023 were ¥34,132,756.11, a decrease of 10.4% from ¥38,039,182.05 in Q1 2022[17] Non-Recurring Items - The company reported non-recurring gains of CNY 2,870,345.84, primarily from government subsidies and other non-operating income[8] Operational Challenges - The decline in revenue was attributed to macroeconomic slowdown, industry cyclicality, and product updates in the power line carrier communication business[9] Other Financial Metrics - The weighted average return on equity was 1.01%, a decrease of 1.47 percentage points compared to the previous year[6] - The company reported a financial income of ¥4,145,437.48 in Q1 2023, compared to a financial expense of ¥2,434,454.84 in Q1 2022[18] - The net cash flow from investment activities was -$55.47 million, a decrease from -$347.97 million year-over-year[20] - Cash outflow from investment activities was $1.64 billion, up from $896.25 million year-over-year[20] - The company received $1.56 billion in cash related to investment activities, compared to $546.65 million in the previous year[20] Debt and Obligations - Short-term borrowings were recorded at ¥60,000,000.00, indicating the company has taken on new debt[15] - Accounts payable decreased significantly from ¥45,690,741.53 to ¥6,176,932.73, a drop of approximately 86.5%[15] - Contract liabilities decreased from ¥533,261,888.99 to ¥502,153,678.92, a decline of about 5.8%[15] - The company reported a decrease in employee compensation payable from ¥27,479,229.95 to ¥26,012,981.07, a reduction of approximately 5.3%[15] Accounting Standards - The company did not apply new accounting standards or interpretations for the first quarter of 2023[21] Product Development - The company has not provided any new product or technology development updates in this report[13]