Jiangsu (SH:688426)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥76,943,090.83, representing a decrease of 37.35% compared to the same period last year[3] - The net profit attributable to shareholders was ¥3,989,440.66, down 89.74% year-on-year[3] - The net cash flow from operating activities was -¥9,225,991.59, a decline of 127.19% compared to the previous year[3] - Total operating revenue for Q1 2023 was ¥76,943,090.83, a decrease of 37.4% compared to ¥122,814,896.09 in Q1 2022[17] - Net profit for Q1 2023 was ¥9,503,471.21, a decline of 75.5% from ¥38,880,499.79 in Q1 2022[18] - The company reported a comprehensive income total of ¥9,182,584.27 for Q1 2023, down from ¥38,865,774.28 in Q1 2022[18] - The company experienced a significant decrease in sales revenue, indicating potential challenges in market demand or competition[17] Research and Development - Research and development expenses totaled ¥19,039,632.01, which is an increase of 38.86% year-on-year[3] - The proportion of R&D expenses to operating revenue was 24.75%, an increase of 13.58 percentage points compared to the previous year[4] - Research and development expenses for Q1 2023 were ¥19,039,632.01, an increase of 38.8% from ¥13,711,047.94 in Q1 2022[17] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,940,172,963.71, a decrease of 0.51% from the end of the previous year[4] - As of March 31, 2023, the total current assets amounted to RMB 1,569,355,696.88, a decrease from RMB 1,626,664,083.19 as of December 31, 2022, reflecting a decline of approximately 3.5%[12] - The total liabilities decreased to RMB 1,569,355,696.88 from RMB 1,626,664,083.19, indicating a decline of approximately 3.5%[13] - Total liabilities as of Q1 2023 were ¥125,659,684.49, compared to ¥158,416,801.31 in the previous period[14] - The total non-current assets increased to RMB 370,817,266.83 from RMB 323,413,601.32, reflecting an increase of approximately 14.7%[13] Cash Flow - The cash and cash equivalents were reported at RMB 410,812,747.09, down from RMB 1,031,534,445.52, indicating a significant decrease of about 60.3%[12] - Cash inflow from operating activities in Q1 2023 was ¥66,528,597.93, down 48.0% from ¥128,091,616.53 in Q1 2022[19] - The net cash flow from operating activities was -$9,225,991.59, a significant decrease compared to $33,933,089.12 in the previous year, indicating a decline in operational performance[21] - The company reported a total cash outflow of $620,722,341.81 for the quarter, contrasting with a cash inflow of $134,161,295.71 in the same quarter last year[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 5,413[8] - The largest shareholder, Beijing Kangwei Century Biotechnology Co., Ltd., holds 42,000,000 shares, accounting for 44.91% of the total shares[8] - Total equity attributable to shareholders was ¥1,791,684,776.75, an increase from ¥1,780,346,411.28 in the previous period[14] Operational Challenges - The company experienced a significant decline in main business income due to changes in market demand[6] - The company has not disclosed any new product developments or market expansion strategies in the current report[12] Costs and Expenses - Total operating costs for Q1 2023 were ¥68,061,840.64, down 10.5% from ¥76,035,786.15 in Q1 2022[17] - The company paid $34,649,016.72 in employee compensation, up from $29,007,526.33, indicating increased labor costs[21] - Tax payments increased to $13,454,499.18 from $10,759,338.00, reflecting higher tax obligations[21] Investment Activities - Cash inflow from investment activities totaled $542,802,500.88, up from $234,976,184.10 year-over-year, reflecting increased investment recovery[21] - The cash outflow from investment activities was $1,158,990,407.49, compared to $132,533,414.96 in the previous year, resulting in a net cash flow from investment activities of -$616,187,906.61[21] Accounting Standards - The company is implementing new accounting standards starting in 2023, which may affect future financial reporting[22]