TINAVI(SH:688277)2022-04-25 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥17,154,459.17, representing a decrease of 23.84% compared to the same period last year[5] - The net profit attributable to shareholders was -¥28,768,004.29, and the net profit after deducting non-recurring gains and losses was -¥33,142,880.40, both not applicable for year-on-year comparison[5] - The net loss for Q1 2022 was CNY 29,868,143.23, compared to a net loss of CNY 25,042,478.69 in Q1 2021, reflecting a deterioration of 19.5%[19] - The company's total comprehensive loss for Q1 2022 was CNY 23,922,487.32, compared to CNY 20,222,046.95 in Q1 2021, marking an increase in comprehensive losses of 13.4%[29] - The basic and diluted earnings per share were both -¥0.07, not applicable for year-on-year comparison[6] - Other comprehensive income after tax for Q1 2022 was CNY -30,247.91, compared to CNY -6,314,274.89 in Q1 2021, indicating a significant change in financial performance[20] Cash Flow and Liquidity - The net cash flow from operating activities was -¥50,080,568.65, with a significant decrease attributed to reduced government subsidies received compared to the previous year[6] - The company reported a significant increase in cash paid for goods and services, totaling CNY 23,903,756.45 in Q1 2022, compared to CNY 4,206,576.01 in Q1 2021[21] - The company's cash and cash equivalents at the end of Q1 2022 were CNY 249,293,892.68, down from CNY 690,435,358.03 at the end of Q1 2021[22] - The company reported a net increase in cash and cash equivalents of -CNY 37,818,692.40, compared to a net increase of CNY 222,033,340.16 in Q1 2021[22] - The net cash flow from operating activities for Q1 2022 was negative CNY 44,573,362.90, compared to negative CNY 40,581,659.77 in Q1 2021, showing a worsening cash flow situation[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,241,803,906.09, down 2.91% from the end of the previous year[6] - The total assets decreased to CNY 1,241,803,906.09 from CNY 1,279,050,151.42, a decline of 2.9%[17] - Total liabilities decreased to CNY 204,134,860.43 from CNY 211,482,714.62, a reduction of 3.5%[17] - The company's equity attributable to shareholders decreased by 2.86% to ¥978,148,979.47 compared to the end of the previous year[6] - The total equity of the company as of March 31, 2022, was CNY 996,960,531.03, down from CNY 1,020,883,018.35 at the end of 2021[26] Research and Development - Research and development expenses totaled ¥21,093,619.30, accounting for 122.96% of operating revenue, an increase of 13.60 percentage points year-on-year[6] - The company completed the clinical trial enrollment for the TiRobot Recon knee replacement robot, marking a significant advancement in its R&D efforts[14] - The company successfully launched the Viper PrimeTM spinal robot solution, which has been implemented in multiple hospitals, including Beijing Jishuitan Hospital and Shandong Qilu Hospital[14] - Research and development expenses for Q1 2022 were CNY 21,093,619.30, down from CNY 24,632,032.55 in Q1 2021, indicating a decrease of 14.3%[19] - Research and development expenses for Q1 2022 amounted to CNY 16,449,446.59, down from CNY 22,690,293.08 in Q1 2021, indicating a reduction of 27.5%[28] Operational Highlights - The company faced delays in revenue recognition for orthopedic surgical robots due to pandemic-related disruptions[14] - The company is actively pursuing the "purchase of technology services" model, which has led to signed agreements and installations during the reporting period[14] - The company has received approval from the China Securities Regulatory Commission for a specific stock issuance, indicating ongoing capital-raising efforts[14] - The company reported a significant increase in sales expenses to CNY 16,173,564.10 from CNY 13,961,964.71, an increase of 15.4%[19] Inventory and Receivables - Accounts receivable decreased significantly from ¥27,254,544.36 to ¥14,886,142.21, a reduction of about 45.5%[15] - Inventory increased from ¥37,944,429.67 to ¥46,126,709.41, reflecting a rise of about 21.5%[15] - The total current assets decreased from ¥507,420,874.11 to ¥459,593,113.21, a decline of approximately 9.4%[15] - The company's fixed assets increased from ¥40,539,956.56 to ¥51,255,160.69, an increase of approximately 26.4%[15]