Fuxin Technology(SH:688662)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥94,345,257.42, representing a decrease of 28.81% compared to the same period last year[3]. - Net profit attributable to shareholders was ¥2,291,226.44, down 82.80% year-on-year[3]. - Basic and diluted earnings per share were both ¥0.03, reflecting a decrease of 82.74% year-on-year[3]. - Total operating revenue for Q1 2023 was ¥94,345,257.42, a decrease of 29% compared to ¥132,524,952.60 in Q1 2022[17]. - Net profit for Q1 2023 was ¥1,968,179.53, a decline of 85.5% from ¥13,549,712.00 in Q1 2022[18]. - Basic and diluted earnings per share for Q1 2023 were both ¥0.03, compared to ¥0.15 in Q1 2022[19]. - The company reported a significant increase in financial expenses, with interest expenses rising to ¥737,620.17 from ¥76,660.23 in Q1 2022[17]. - Other income decreased sharply to ¥72,869.08 in Q1 2023 from ¥1,598,426.40 in Q1 2022[17]. Cash Flow - The net cash flow from operating activities was negative at -¥15,135,185.74, a decline of 148.96% compared to the previous year[3]. - Cash flow from operating activities for Q1 2023 was negative at -¥15,135,185.74, compared to positive cash flow of ¥30,910,751.21 in Q1 2022[22]. - Cash flow from investing activities for Q1 2023 was negative at -¥6,995,411.87, an improvement from -¥99,464,074.77 in Q1 2022[22]. - Cash flow from financing activities for Q1 2023 was positive at ¥17,349,747.90, compared to ¥23,717,153.89 in Q1 2022[22]. - The ending cash and cash equivalents balance for Q1 2023 was ¥322,933,683.29, an increase from ¥288,095,168.80 in Q1 2022[22]. Assets and Liabilities - Total assets at the end of the reporting period were ¥965,296,948.34, an increase of 2.49% from the end of the previous year[4]. - As of March 31, 2023, the total current assets amounted to RMB 737,922,336.18, an increase from RMB 721,078,531.01 as of December 31, 2022, representing a growth of approximately 2.4%[12]. - The cash and cash equivalents increased to RMB 421,716,584.39 from RMB 369,242,431.05, reflecting a growth of about 14.2%[12]. - Accounts receivable rose to RMB 105,199,053.52, up from RMB 77,046,929.06, indicating an increase of approximately 36.5%[12]. - Total liabilities as of March 31, 2023, were RMB 215,643,730.30, compared to RMB 211,717,653.80 at the end of 2022, showing a slight increase of about 1.4%[14]. - The total assets reached RMB 965,296,948.34, up from RMB 941,838,676.39, marking an increase of approximately 2.5%[15]. - The company's total equity increased to RMB 749,653,218.04 from RMB 730,121,022.59, reflecting a growth of about 2.7%[15]. - The inventory decreased to RMB 189,247,690.00 from RMB 195,755,030.59, a decline of approximately 3.0%[12]. - The company reported a non-current asset total of RMB 227,374,612.16, slightly up from RMB 220,760,145.38, indicating an increase of about 3.0%[13]. - The short-term borrowings increased to RMB 97,545,230.03 from RMB 93,791,647.71, representing a rise of approximately 4.0%[13]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 4,281[8]. - The top shareholder, Liu Fulin, holds 22.44% of the shares, with a total of 19,800,914 shares[8]. Research and Development - Research and development expenses totaled ¥7,529,690.54, a decrease of 9.59%, while the R&D expense as a percentage of operating revenue increased by 1.70 percentage points to 7.98%[3]. - The weighted average return on equity decreased by 1.54 percentage points to 0.31%[3]. - The decline in revenue was primarily attributed to decreased consumer demand affecting the company's thermal power systems and products[6]. - The company has not disclosed any significant new product developments or market expansion strategies during the reporting period[11].