Cubic(SH:688665)2023-04-27 16:00Financial Performance - In Q1 2023, the company achieved operating revenue of CNY 139.91 million, a year-on-year increase of 3.91%[7] - The net profit attributable to shareholders was CNY 38.78 million, a decrease of 9.86% compared to the same period last year[7] - The gross profit margin for Q1 2023 was 46.41%, an increase of 1.11 percentage points quarter-on-quarter[7] - Total revenue for Q1 2023 was CNY 139,906,746.19, an increase of 3.4% compared to CNY 134,643,417.73 in Q1 2022[23] - Net profit for Q1 2023 was CNY 38,906,092.03, a decrease of 10.5% compared to CNY 43,438,494.26 in Q1 2022[24] - Operating profit for Q1 2023 was CNY 43,876,845.40, down from CNY 49,288,352.79 in the same period last year, reflecting a decline of 10.5%[24] - Total comprehensive income for Q1 2023 was CNY 38,906,092.03, down from CNY 43,438,494.26 in Q1 2022, indicating a decrease of 10.5%[25] - Basic and diluted earnings per share for Q1 2023 were both CNY 0.55, compared to CNY 0.61 in Q1 2022, representing a decline of 9.8%[25] Research and Development - Research and development expenses totaled CNY 13.79 million, representing 9.86% of operating revenue, an increase of 1.13 percentage points year-on-year[7] - Research and development expenses increased to CNY 13,788,376.59 in Q1 2023, compared to CNY 11,758,505.90 in Q1 2022, reflecting a growth of 17.3%[23] Assets and Liabilities - The company’s total assets at the end of the reporting period were CNY 1,170.22 million, up 3.38% from the end of the previous year[7] - The company's total assets as of March 31, 2023, were CNY 1,170,219,241.60, up from CNY 1,131,956,672.60 at the end of 2022[23] - The total liabilities decreased slightly to CNY 237,966,505.31 from CNY 238,811,605.12 at the end of 2022[22] - The company’s equity attributable to shareholders increased by 4.39% to CNY 926.61 million compared to the end of the previous year[7] - The company's total equity rose to CNY 932,252,736.29 from CNY 893,145,067.48, marking an increase of 4.4%[23] Cash Flow - Cash flow from operating activities increased to CNY 28,332,503.97 in Q1 2023, compared to a negative cash flow of CNY -9,183,440.83 in Q1 2022[28] - Total operating cash inflow for Q1 2023 was CNY 170,487,625.94, up from CNY 131,528,137.26 in Q1 2022, an increase of 29.5%[27] - Total operating cash outflow for Q1 2023 was CNY 142,155,121.97, slightly up from CNY 140,711,578.09 in Q1 2022[28] - The company reported a net cash decrease of CNY 5,099,465.10 in Q1 2023, compared to a decrease of CNY 33,278,801.27 in Q1 2022[29] Revenue Growth - Revenue from medical health gas sensor products increased by 312.72% year-on-year, driven by the extension of the product line[8] - The gas analysis instrument business saw a revenue increase of 91.90% year-on-year, benefiting from domestic policy support[8] Expenses - Sales expenses increased by 36.30% year-on-year due to the expansion of automotive sensor and safety monitoring businesses[8] - Sales expenses increased by 36.30% year-on-year due to the hiring of additional sales personnel and expansion of sales channels[14] - Total operating costs for Q1 2023 were CNY 105,006,933.20, up 13.1% from CNY 92,743,138.93 in Q1 2022[23] - Financial expenses decreased by 49.57% primarily due to reduced interest income from bank deposits[14] Accounts Receivable and Other Receivables - Accounts receivable increased by 75.56% due to higher sales revenue and increased customer note repayments[14] - Accounts receivable financing surged by 265.76%[14] - Prepayments rose by 35.84% primarily due to increased advance payments for material procurement[14] - Other receivables increased by 115.50% mainly due to the rise in deposits and standby funds[14] - Accounts receivable increased to CNY 152,969,464.60 from CNY 174,053,517.09, indicating a decrease of 12.1%[21] Fixed Assets - Fixed assets grew by 69.29% as a result of the completion of construction projects by the wholly-owned subsidiary[14] - Construction in progress decreased by 99.36% due to the transfer to fixed assets[14] Impairment Losses - Credit impairment losses decreased by 193.01% as a result of reduced accounts receivable leading to lower bad debt provisions[14] - Asset impairment losses decreased by 203.94% due to the recovery of contract acceptance payments[14]