SUPCON Technology (SH:688777)2023-04-26 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥1,445,707,760.34, representing a year-on-year increase of 47.30%[4] - The net profit attributable to shareholders for Q1 2023 was ¥92,396,527.94, reflecting a growth of 54.29% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥67,346,384.73, which is an increase of 70.15% year-on-year[4] - The basic earnings per share for Q1 2023 was ¥0.18, up by 50.00% from the previous year[5] - Total operating revenue for Q1 2023 reached ¥1,445,707,760.34, a significant increase of 47.2% compared to ¥981,487,088.85 in Q1 2022[19] - Net profit for Q1 2023 was ¥96,168,607.78, representing a 57.5% increase from ¥60,945,067.06 in Q1 2022[21] - The total comprehensive income for Q1 2023 was ¥96,029,573.36, compared to ¥61,215,398.11 in Q1 2022, reflecting a growth of 56.8%[22] - Investment income for Q1 2023 was ¥27,327,728.05, compared to ¥14,082,093.70 in Q1 2022, showing a growth of 93.9%[21] Research and Development - The total R&D investment for the quarter was ¥186,057,520.79, which accounted for 12.87% of operating revenue, a decrease of 0.94 percentage points year-on-year[5] - Research and development expenses amounted to ¥186,057,520.79, up 37.2% from ¥135,582,688.82 in the same period last year[19] Cash Flow and Liquidity - The net cash flow from operating activities was -¥723,143,247.46, indicating a seasonal decrease in cash collection during the first quarter[4][9] - The company's cash flow from operating activities remains strong, supporting ongoing investments in new technologies and market expansion[19] - In Q1 2023, the company reported cash inflows from operating activities totaling CNY 1,404,552,527.21, an increase from CNY 994,741,963.07 in Q1 2022, representing a growth of approximately 41.0%[23] - The cash outflows from operating activities amounted to CNY 2,127,695,774.67, compared to CNY 1,441,707,587.34 in the same period last year, indicating a rise of about 47.7%[24] - The net cash flow from operating activities was negative CNY 723,143,247.46, worsening from negative CNY 446,965,624.27 year-over-year[24] - Cash inflows from investment activities were CNY 1,444,563,281.98, down from CNY 1,822,574,999.71 in Q1 2022, a decrease of approximately 20.7%[24] - The net cash flow from investment activities improved to CNY 780,825,593.63, compared to CNY 99,857,878.88 in the previous year[24] - Cash inflows from financing activities totaled CNY 102,450,029.05, significantly higher than CNY 30,667,824.34 in Q1 2022, marking an increase of about 233.5%[24] - The net cash flow from financing activities was positive at CNY 95,834,165.78, a turnaround from negative CNY 2,509,685.60 in the same quarter last year[24] - The company's cash and cash equivalents at the end of Q1 2023 stood at CNY 1,484,081,167.52, up from CNY 1,017,656,656.05 at the end of Q1 2022[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥13,265,960,771.10, an increase of 1.56% from the end of the previous year[5] - The total current assets as of March 31, 2023, amounted to CNY 11,754,130,292.56, compared to CNY 11,602,254,382.02 in the previous year, showing an increase[14] - The total liabilities increased to ¥7,830,806,738.78, compared to ¥7,746,507,674.95 in the previous year, reflecting a growth of 1.1%[18] - The company's total equity reached ¥5,435,154,032.32, up from ¥5,316,115,364.89, indicating a growth of 2.2% year-over-year[18] - The equity attributable to shareholders at the end of the reporting period was ¥5,370,759,342.71, reflecting a growth of 2.15% compared to the previous year[5] - Cash and cash equivalents increased to CNY 1,539,075,111.31 from CNY 1,386,855,314.37 year-over-year[14] - Accounts receivable rose to CNY 1,861,993,210.89, up from CNY 1,732,151,960.06, indicating a growth of approximately 7.4%[14] - Inventory increased significantly to CNY 4,142,860,265.57 from CNY 3,721,875,316.26, reflecting a growth of about 11.3%[16] - Short-term borrowings increased to CNY 203,503,583.33 from CNY 106,230,795.38, indicating a rise of about 91.6%[16] - The company’s long-term equity investments increased to CNY 697,096,611.76 from CNY 681,889,018.82, showing a growth of approximately 2.2%[16] Market and Strategic Outlook - The company achieved significant breakthroughs in traditional industries such as petrochemicals and chemicals, contributing to the revenue growth[8] - The company plans to continue expanding its market presence in new energy, pharmaceuticals, food, and metallurgy sectors[8] - The company has not reported any significant changes in its operational strategies or new product developments during the reporting period[13] - The company reported a total of 31,674,771 shares held by Hong Kong Central Clearing Limited, representing a significant portion of the unrestricted circulating shares[12] - The company has not disclosed any significant related party transactions among its top shareholders[12] Tax and Other Operating Activities - The company received tax refunds amounting to CNY 39,743,999.40, an increase from CNY 30,503,993.68 in the previous year, reflecting a growth of approximately 30.5%[23] - The total cash outflow for other operating activities was CNY 165,344,674.06, compared to CNY 127,383,206.18 in Q1 2022, indicating an increase of about 30.0%[24]