Orient Biotech(SH:688298)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥376,045,281.02, representing a decrease of 92.08% compared to the same period last year[2] - The net profit attributable to shareholders was -¥50,330,075.15, a decline of 102.44% year-on-year[2] - The net cash flow from operating activities was -¥731,563,866.64, down 141.24% compared to the previous year[2] - The basic and diluted earnings per share were both -¥0.30, reflecting a decline of 101.74% year-on-year[2] - The weighted average return on net assets was -0.62%, down 26.81% compared to the previous year[2] - The significant decline in revenue and profit was attributed to a sharp drop in global demand for COVID-19 testing reagents[5] - Total revenue for Q1 2023 was ¥376,045,281.02, a significant decrease from ¥4,746,225,792.78 in Q1 2022, representing a decline of approximately 92.10%[15] - Net profit for Q1 2023 was a loss of ¥46,412,877.00, compared to a profit of ¥2,098,665,411.07 in Q1 2022, marking a decline of 102.21%[16] - The company reported a total comprehensive loss of ¥59,673,658.25 for Q1 2023, contrasting with a comprehensive income of ¥2,097,145,951.30 in Q1 2022[16] Assets and Liabilities - The total assets at the end of the reporting period were ¥10,541,721,104.67, a decrease of 1.51% from the end of the previous year[3] - The company's total assets as of Q1 2023 amounted to ¥10,541,721,104.67, slightly down from ¥10,703,739,425.99 in the previous year[14] - Total liabilities for Q1 2023 were ¥2,276,564,574.35, compared to ¥2,380,745,146.42 in Q1 2022, reflecting a decrease of approximately 4.37%[14] - The company’s total equity as of Q1 2023 was ¥8,265,156,530.32, slightly down from ¥8,322,994,279.57 in the previous year[14] - The company's non-current assets totaled ¥2,257,859,606.84, an increase from ¥1,956,258,356.40 in the previous year, representing a growth of about 15.39%[14] Cash Flow - As of March 31, 2023, the company's cash and cash equivalents amounted to approximately ¥6.30 billion, down from ¥6.60 billion at the end of 2022[12] - The company's total current assets as of March 31, 2023, were approximately ¥8.28 billion, a decrease from ¥8.75 billion at the end of 2022[12] - In Q1 2023, the company's cash inflow from operating activities was CNY 235,205,118.36, a significant decrease of 95.15% compared to CNY 4,833,667,360.72 in Q1 2022[20] - The net cash outflow from operating activities was CNY -731,563,866.64, contrasting with a net inflow of CNY 1,774,121,996.77 in the same period last year[20] - The total cash and cash equivalents at the end of Q1 2023 were CNY 6,229,181,276.83, down from CNY 7,333,314,003.52 at the end of Q1 2022[21] - The company experienced a net decrease in cash and cash equivalents of CNY -327,378,567.45 during the quarter[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,316[6] - The company reported a total of 32,760,000 shares held by Anji Fulanglai Import and Export Trade Co., accounting for 19.50% of total shares[9] - Fangs Holdings Limited Liability Company holds 31,500,000 shares, representing 18.75% of the total shares[9] - The company has a total of 48.56% of shares held by its major shareholders, indicating a concentrated ownership structure[9] Research and Development - Research and development expenses totaled ¥51,904,828.32, a decrease of 50.61% year-on-year, with R&D expenses accounting for 13.80% of operating revenue[3] - Research and development expenses for Q1 2023 were ¥51,904,828.32, down from ¥105,097,126.38 in Q1 2022, a decrease of approximately 50.59%[15] Future Outlook - The company expects a significant decline in revenue and net profit for 2023 compared to 2022 due to the removal of COVID-19 testing reagent sales, which were a major contributor to 2022's performance[10] - The company is focusing on transitioning its revenue sources from COVID-19 related products to regular and new business sales in 2023[10]