Hinova Pharmaceuticals (SH:688302)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was not disclosed, with a net profit attributable to shareholders of -75,369,313.02 RMB[5] - The net profit for Q1 2023 was a loss of CNY 75,369,313.02, compared to a loss of CNY 86,899,827.64 in Q1 2022, indicating an improvement of about 13.5%[21] - The total comprehensive income for Q1 2023 was a loss of CNY 75,410,258.15, compared to a loss of CNY 86,909,883.14 in Q1 2022, reflecting an improvement of about 13.2%[21] - The basic earnings per share for the period was -0.76 RMB, indicating a loss[5] - Basic earnings per share for Q1 2023 were CNY -0.76, compared to CNY -1.17 in Q1 2022, indicating a reduction in loss per share[21] - The company reported a net loss of RMB 1,071,427,216.44 for the first quarter of 2023, compared to a net loss of RMB 996,057,903.42 in the same period of 2022[16] Cash Flow - The net cash flow from operating activities was -64,019,245.33 RMB, indicating a significant cash outflow[5] - The net cash flow from operating activities for Q1 2023 was negative CNY 64,019,245.33, compared to negative CNY 72,458,269.08 in Q1 2022, showing a reduction in cash outflow of approximately 11.5%[22] - The net cash flow from investing activities was negative CNY 344,020,276.72 in Q1 2023, compared to negative CNY 11,724,788.07 in Q1 2022, indicating a significant increase in cash outflow for investments[23] Assets and Liabilities - Total assets at the end of the reporting period were 1,690,251,769.42 RMB, down 2.58% from the end of the previous year[6] - The company's current assets totaled RMB 1,536,651,259.25, down from RMB 1,611,310,066.61 at the end of 2022, indicating a decrease of about 4.6%[14] - The cash and cash equivalents decreased to RMB 790,795,588.99 from RMB 1,201,610,175.29, representing a significant decline of approximately 34.1%[14] - The company's total liabilities increased to RMB 161,105,019.54 from RMB 149,682,536.17, marking an increase of about 7.5%[16] - The total equity attributable to shareholders decreased to RMB 1,529,146,749.88 from RMB 1,585,391,913.28, a decline of approximately 3.5%[16] Shareholder Information - The total number of common shareholders at the end of the reporting period was 2,958[11] - The largest shareholder, Affinitis Group, held 13,125,294 shares, accounting for 13.26% of total shares[11] Research and Development - Research and development expenses totaled 63,643,959.57 RMB, representing a decrease of 9.12% compared to the previous year[6] - The company incurred research and development expenses of CNY 63,643,959.57 in Q1 2023, down from CNY 70,030,185.81 in Q1 2022, representing a decrease of about 9.1%[20] Operating Costs - The total operating costs for Q1 2023 were CNY 82,609,202.54, a decrease from CNY 94,269,694.22 in Q1 2022, representing a reduction of approximately 12.5%[20] Other Financial Metrics - The weighted average return on net assets was -4.84%, showing a negative performance[6] - The company reported a total of 7,242,539.19 RMB in non-recurring gains and losses for the period[8] - The company's short-term borrowings remained stable at RMB 30,000,000.00, unchanged from the previous period[15] - The company's accounts payable increased to RMB 97,732,494.31 from RMB 89,960,223.97, reflecting an increase of approximately 8.7%[15] - The company's inventory decreased to RMB 4,101.80 from RMB 6,480.11, indicating a decline of about 36.6%[14] - The company reported a financial expense of CNY -705,812.40 in Q1 2023, compared to CNY 550,257.70 in Q1 2022, indicating a significant reduction in financial costs[20] Product Development and Strategy - The company has not disclosed any new product developments or market expansion strategies in the current report[13]