LIFERIVER(SH:688317)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥84,348,212.48, a decrease of 89.59% compared to the same period last year[5] - Net profit attributable to shareholders was ¥6,026,571.66, down 97.81% year-on-year[5] - The net profit excluding non-recurring gains and losses was ¥7,015,965.17, reflecting a decline of 97.45% compared to the previous year[5] - The net cash flow from operating activities was -¥171,882,022.73, a decrease of 162.34% year-on-year[6] - Basic and diluted earnings per share were both ¥0.03, down 97.87% from the same period last year[6] - The total comprehensive income for Q1 2023 was ¥3,658,041.80, a decrease from ¥267,248,470.93 in Q1 2022, reflecting a decline of approximately 98.6%[20] - The total operating profit for Q1 2023 was ¥10,063,921.65, a significant drop from ¥324,239,329.48 in Q1 2022, reflecting a decline of about 96.9%[23] Research and Development - Research and development expenses totaled ¥14,504,728.20, an increase of 30.34% compared to the previous year[6] - R&D expenses accounted for 17.20% of operating revenue, up 15.83 percentage points year-on-year[6] - Research and development expenses increased to ¥14,504,728.20 in Q1 2023 from ¥11,128,219.98 in Q1 2022, marking an increase of about 30.7%[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,524,640,294.07, a decrease of 4.62% from the end of the previous year[6] - Cash and cash equivalents as of March 31, 2023, were RMB 2,923,264,994.00, down from RMB 3,147,723,751.88 at the end of 2022, showing a decrease of approximately 7.1%[14] - Accounts receivable decreased to RMB 204,565,453.68 from RMB 227,622,831.28, a decline of about 10.1%[14] - Inventory increased to RMB 516,133,617.18 from RMB 504,032,006.81, representing a growth of approximately 2.2%[14] - Total liabilities decreased to RMB 320,570,594.87 from RMB 543,439,647.94, a reduction of approximately 41.0%[16] - Shareholders' equity attributable to shareholders was ¥4,204,069,699.20, a slight increase of 0.09% compared to the previous year[6] - Shareholders' equity increased slightly to RMB 4,204,069,699.20 from RMB 4,200,411,657.40, reflecting a marginal growth[16] Business Strategy and Outlook - The company reported a significant decline in sales revenue due to changes in product sales structure[8] - The company reported a significant drop in both revenue and operating costs, indicating potential restructuring or changes in business strategy[18] - The company has not provided specific guidance for future performance or new product developments in this report[12] Cash Flow and Investments - The net cash flow from operating activities for Q1 2023 was -¥171,882,022.73, compared to ¥275,709,142.52 in Q1 2022, representing a decline of approximately 162.3%[23] - The company reported a net cash outflow from investing activities of -¥42,034,813.73 in Q1 2023, compared to -¥43,788,254.52 in Q1 2022, showing a slight improvement[24] - Cash and cash equivalents at the end of Q1 2023 were ¥2,923,264,994.00, down from ¥3,164,464,365.60 at the end of Q1 2022, indicating a decrease of approximately 7.6%[24] Foreign Exchange Impact - The company experienced a foreign exchange loss of -¥10,541,921.43 in Q1 2023, compared to -¥3,381,492.57 in Q1 2022, indicating a worsening of approximately 211.5%[24]