GalaxyCore (SH:688728)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥853,204,583, representing a decrease of 50.82% compared to the same period last year[6] - The net profit attributable to shareholders was a loss of ¥129,193,711, reflecting a decline of 153.50% year-over-year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥135,411,663, down 157.15% from the previous year[6] - The basic earnings per share for the quarter was -¥0.05, a decrease of 150.00% compared to the same period last year[7] - Total operating revenue for Q1 2023 was ¥853,204,583, a decrease of 50.8% compared to ¥1,734,866,190 in Q1 2022[22] - Net profit for Q1 2023 was a loss of ¥129,193,711, compared to a profit of ¥241,477,602 in Q1 2022, representing a significant decline[24] - The basic earnings per share for Q1 2023 was -¥0.05, compared to ¥0.10 in Q1 2022, showing a decline in profitability[24] Research and Development - The total R&D investment amounted to ¥140,649,399, which is an increase of 35.64% year-over-year, accounting for 16.48% of operating revenue, up 10.50 percentage points[7] - Research and development expenses increased to ¥140,649,399 in Q1 2023, up 35.6% from ¥103,690,316 in Q1 2022[23] Assets and Liabilities - The company's total assets at the end of the quarter were ¥18,688,156,982, an increase of 2.95% from the end of the previous year[7] - The company reported a total asset increase to ¥18,688,156,982 in Q1 2023, compared to ¥18,152,179,905 in Q1 2022, reflecting a growth of 2.9%[19] - Total liabilities rose to ¥10,907,058,260 in Q1 2023, an increase of 6.3% from ¥10,256,768,283 in Q1 2022[19] - The total non-current assets were reported at RMB 1,456,453,777, with a notable investment in construction in progress amounting to RMB 7,923,780,746, up from RMB 7,046,214,655[17] Cash Flow and Management - The company reported a net cash flow from operating activities of -¥18,503,461, primarily due to increased startup and R&D material costs during the reporting period[10] - The company's cash flow statement for Q1 2023 indicates a need for improved cash management strategies[26] - The net cash outflow from operating activities was $18,503,461, worsening from a net outflow of $9,888,766 in the same period last year[27] - The total cash outflow for operating activities was $1,500,820,623, a reduction of 24% from $1,975,665,033 in the previous year[27] Market Conditions and Challenges - The company faced challenges due to geopolitical factors and global inflation, leading to a slowdown in consumer electronics demand and reduced shipment volumes in the mobile phone industry[10] - The increase in management expenses was attributed to higher startup costs, including employee salaries and related expenses during the setup phase[10] Future Outlook - The company is actively exploring new product development and market expansion strategies to enhance growth prospects in the upcoming quarters[16] - Future guidance indicates a cautious optimism regarding revenue growth, driven by ongoing investments in technology and market presence[16] - The company is also considering potential mergers and acquisitions to strengthen its market position and diversify its product offerings[16]