TINAVI(SH:688277)2022-05-19 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 worsening of 15.3%[20]. - The total comprehensive income for Q1 2022 was -29,898,391.14 RMB, slightly improved from -31,356,753.58 RMB in Q1 2021[21]. - The net profit attributable to shareholders of the parent company for Q1 2022 was -28,768,004.29 RMB, compared to -24,462,266.30 RMB in Q1 2021, indicating a decline in profitability[21]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥50,080,568.65, with a significant decrease in government subsidies received compared to the previous year[6]. - The net cash flow from operating activities for Q1 2022 was -50,080,568.65 RMB, worsening from -10,322,097.52 RMB in Q1 2021[25]. - Cash and cash equivalents decreased to CNY 249,293,892.68 from CNY 287,112,585.08 as of December 31, 2021, a decline of 13.1%[16]. - The cash and cash equivalents at the end of Q1 2022 were 249,293,892.68 RMB, down from 690,435,358.03 RMB at the end of Q1 2021, a decrease of about 64.2%[26]. - The company reported a significant increase in cash outflows for operating activities, totaling 97,653,561.78 RMB in Q1 2022, compared to 71,846,332.90 RMB in Q1 2021[25]. 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 reported R&D expenses of CNY 21,093,619.30, down 14.3% from CNY 24,632,032.55 in Q1 2021[20]. - The company reported that its R&D expenses as a percentage of revenue were 33.55%, 54.53%, and 70.37% from 2019 to 2021, highlighting a significant investment in innovation[14]. 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]. - Total assets decreased to CNY 1,241,803,906.09 from CNY 1,279,050,151.42, a reduction of 2.9%[17]. - Total liabilities decreased to CNY 204,134,860.43 from CNY 211,482,714.62, a decline of 3.5%[17]. - The company's total equity decreased to CNY 996,960,531.03 in Q1 2022 from CNY 1,020,883,018.35 in the previous quarter, a decline of 2.3%[29]. Market and Operational Challenges - The company faced delays in the acceptance of orthopedic surgical robots due to COVID-19 outbreaks, impacting revenue recognition during the reporting period[13]. - The company faces risks of not being profitable in the near term due to low sales volume influenced by market recognition and high product prices[13]. - The orthopedic surgical robot's high acquisition costs and complex purchasing processes contribute to extended sales cycles and uncertainty in sales[13]. - The company’s core products have achieved sales in key hospitals, but broader market penetration remains challenging due to financial constraints in lower-tier medical institutions[13]. - The company’s focus on high-end medical equipment involves substantial upfront R&D investments and lengthy approval processes, which may exacerbate financial losses[14]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,639[10]. - The largest shareholder, Zhang Songgen, holds 75,664,000 shares, accounting for 18.02% of the total shares[11]. Investment Activities - The company has received approval from the China Securities Regulatory Commission for a specific stock issuance, indicating ongoing capital raising efforts[13]. - Investment activities resulted in a net cash outflow of -1,048,907.45 RMB in Q1 2022, a sharp decline from a net inflow of 237,061,930.76 RMB in Q1 2021[25].