V-Test(SH:688372)2023-04-28 16:00Financial Performance - The company's revenue for Q1 2023 was CNY 140.13 million, a decrease of 15.38% compared to the same period last year[4]. - Net profit attributable to shareholders was CNY 27.31 million, down 39.29% year-on-year[4]. - Basic and diluted earnings per share were both CNY 0.31, representing a decrease of 55.07% year-on-year[4]. - Total revenue for Q1 2023 was ¥140,126,196.26, a decrease of 15.4% compared to ¥165,597,655.71 in Q1 2022[16]. - Net profit for Q1 2023 was ¥27,309,024.78, down 39.5% from ¥44,984,586.94 in Q1 2022[17]. - Operating profit for Q1 2023 was ¥23,341,429.49, a decline of 57.0% from ¥54,345,088.07 in Q1 2022[16]. Cash Flow - The net cash flow from operating activities was CNY 47.97 million, a decline of 32.01% compared to the previous year[4]. - In Q1 2023, the cash inflow from operating activities totaled ¥156,318,421.64, an increase from ¥139,478,566.11 in Q1 2022, representing a growth of approximately 12.9%[20]. - The net cash flow from operating activities decreased to ¥47,972,126.15 in Q1 2023, down from ¥70,556,826.68 in Q1 2022, indicating a decline of about 32.1%[20]. - Investment activities generated a net cash flow of -¥333,960,080.13 in Q1 2023, compared to -¥209,626,965.11 in Q1 2022, reflecting a worsening of approximately 59.5%[21]. - Cash inflow from financing activities was ¥99,320,000.00 in Q1 2023, a decrease from ¥184,712,883.18 in Q1 2022, representing a decline of about 46.3%[21]. - The net cash flow from financing activities turned negative at -¥34,933,705.69 in Q1 2023, contrasting with a positive net flow of ¥104,464,197.23 in Q1 2022[21]. - The total cash and cash equivalents at the end of Q1 2023 stood at ¥326,455,784.55, down from ¥108,631,285.15 at the end of Q1 2022[21]. Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 3.37 billion, a slight decrease of 0.40% from the end of the previous year[5]. - Total current assets decreased from RMB 1,647,051,040.47 to RMB 1,383,913,170.98, a decline of approximately 16.06%[12]. - Total liabilities decreased to ¥965,128,376.31 from ¥1,005,842,513.40 in the previous year[16]. - Total equity increased to ¥2,406,803,154.27 from ¥2,379,462,892.35 year-over-year[16]. - Total non-current assets increased from RMB 1,738,254,365.28 to RMB 1,988,018,359.60, an increase of about 14.38%[13]. - Short-term borrowings increased from RMB 135,688,229.79 to RMB 143,741,110.44, an increase of approximately 5.43%[13]. - Accounts payable decreased from RMB 93,308,250.35 to RMB 63,071,706.82, a decline of about 32.41%[13]. Research and Development - R&D expenses increased by 18.60% year-on-year, totaling CNY 15.42 million, accounting for 11.00% of revenue[5][6]. - Research and development expenses rose to ¥15,415,413.41, an increase of 18.5% from ¥12,997,287.24 in Q1 2022[16]. - The company is focusing on R&D in automotive-grade, industrial, high-capacity memory, and complex SOC chips, which may impact short-term profits but drive future growth[6]. Market Conditions - The semiconductor market is currently experiencing a downturn, particularly in consumer electronics, leading to reduced order volumes[5][6]. - The company is in a traditional off-season for the semiconductor industry, affecting production capacity utilization rates[5]. - The company is focused on expanding its market presence and developing new technologies in the semiconductor sector[11]. - The company plans to focus on market expansion and new product development in the upcoming quarters[19]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 6.145 million[10]. - The largest shareholder, Shanghai Ruice Semiconductor Technology Co., Ltd., holds 31.00% of shares, totaling 27,032,838 shares[10]. Other Financial Information - The weighted average return on equity decreased by 3.74 percentage points to 1.14%[5]. - Cash flow details for Q1 2023 were not provided in the available documents[19]. - The company did not implement new accounting standards or interpretations affecting the financial statements for the first quarter of 2023[23].