CONSYS(SH:688788)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥11,405,040.34, representing a decrease of 57.65% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥53,889,041.62, a decline of 106.28% year-on-year[5]. - The basic earnings per share for the period was -¥0.5096, down by 47.33% compared to the previous year[6]. - Net loss for Q1 2023 was ¥55,401,245.89, compared to a net loss of ¥27,404,433.89 in Q1 2022, indicating a worsening financial performance[24]. - Cash received from sales of goods and services in Q1 2023 was ¥51,305,555.10, down 70.4% from ¥173,004,610.50 in Q1 2022[26]. Research and Development - Research and development expenses totaled ¥51,131,961.54, accounting for 448.33% of operating revenue, an increase of 260.93 percentage points[6]. - The company reported a total of 5,113.20 million RMB in R&D expenses for the quarter, focusing on next-generation smart wireless communication chips and intelligent systems[15]. - The company aims to enhance its technological and product advantages in electronic information equipment through continuous R&D investments[15]. - The company is actively pursuing project bidding related to its smart wireless communication chip development[15]. - The company has completed the functional testing of its smart wireless communication baseband chip, focusing on low power consumption and stability[15]. Cash Flow and Assets - The net cash flow from operating activities was -¥51,144,006.40, not applicable for comparison[5]. - As of March 31, 2023, the company had cash and cash equivalents amounting to 1,482,546,827.61 RMB, a decrease from 1,538,139,045.71 RMB at the end of 2022[18]. - The ending balance of cash and cash equivalents was $1.47 billion, down from $1.77 billion at the end of the previous year[28]. - The net increase in cash and cash equivalents was -$55.59 million, contrasting with an increase of $80.59 million in the previous year[28]. Operational Challenges - The company attributed the decline in revenue primarily to the impact of final customer procurement plans and a decrease in orders for command and control information processing equipment[8]. - The company reported a significant increase in credit impairment losses compared to the previous year, contributing to the net profit decline[8]. - Accounts receivable decreased to 657,989,065.48 RMB from 726,869,735.61 RMB, indicating a focus on improving cash collection efforts[18]. Company Structure and Strategy - The company is expanding its business scope to include "technical services" to align with operational needs[16]. - The company has made changes in its management structure, including the departure of a core technical staff member, which is not expected to impact its R&D capabilities significantly[16]. - The company is committed to advancing its capabilities in intelligent cloud and wireless communication systems to meet future market trends[15].