Sinocat(SH:688737)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 reached ¥265,265,859.02, representing a year-on-year increase of 175.84%[5] - Net profit for Q1 2023 reached ¥5,679,800.90, compared to a net loss of ¥11,008,221.97 in Q1 2022, marking a turnaround in profitability[17] - Operating profit for Q1 2023 was ¥3,914,851.43, a recovery from an operating loss of ¥16,555,114.51 in the same period last year[17] - Total comprehensive income for Q1 2023 was ¥5,679,800.90, a significant improvement from a total comprehensive loss of ¥11,008,221.97 in Q1 2022[18] - The company reported a total operating cost of ¥256,528,621.31 in Q1 2023, compared to ¥120,675,012.92 in Q1 2022, indicating an increase of approximately 112.5%[16] Cash Flow and Liquidity - The net cash flow from operating activities was -¥176,529,262.31, indicating increased cash outflows due to higher material purchases[5][8] - Cash flow from operating activities showed a net outflow of ¥176,529,262.31 in Q1 2023, worsening from a net outflow of ¥21,323,327.11 in Q1 2022[20] - Cash and cash equivalents at the end of Q1 2023 totaled ¥446,660,734.02, down from ¥653,009,535.49 at the end of Q1 2022[21] - Investment activities generated a net cash inflow of ¥167,762,463.80 in Q1 2023, contrasting with a net cash outflow of ¥174,377,276.43 in Q1 2022[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,273,726,792.16, reflecting a 6.52% increase from the end of the previous year[6] - The company's current assets totaled RMB 1,672,632,668.78, up from RMB 1,561,163,236.02, indicating an increase of about 7.1%[13] - The company's total liabilities reached RMB 414,481,476.49, up from RMB 264,071,881.68, which is an increase of approximately 57%[15] - The equity attributable to shareholders decreased slightly to RMB 1,853,721,238.25 from RMB 1,864,540,751.14, a decline of about 0.4%[15] Shareholder Information - The total number of common shareholders at the end of the reporting period was 8,868[9] - The largest shareholder, Chen Qizhang, holds 27,863,360 shares, accounting for 32.39% of the total shares[9] Research and Development - Research and development expenses totaled ¥19,334,220.74, accounting for 7.29% of operating revenue, a decrease of 14 percentage points compared to the previous year[6] - Research and development expenses for Q1 2023 were ¥18,039,191.73, slightly lower than ¥19,468,213.64 in Q1 2022[16] Market and Sales Performance - The company experienced significant sales growth in vehicle catalyst products due to the implementation of new emission standards and increased orders from major customers[8] - Accounts receivable rose significantly to RMB 406,629,213.31 from RMB 265,738,183.51, representing a growth of approximately 53%[12] - Inventory levels increased to RMB 360,249,933.76, compared to RMB 248,938,030.83, marking a rise of around 44.5%[13] - The company reported a significant increase in prepayments, which rose to RMB 54,084,125.94 from RMB 23,909,596.20, reflecting a growth of about 126%[13] Strategic Partnerships - The company has a strategic partnership with Shenwan Hongyuan Securities, which acquired 2,039,492 shares through a collective asset management plan[11] Return on Assets - The weighted average return on net assets was 0.33%[6]