SMEG(SH:900922)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 283,006,716.70, representing a year-on-year increase of 145.63%[4] - The net profit attributable to shareholders for Q1 2023 was CNY 2,663,743.54, reflecting a year-on-year growth of 159.76%[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,088,909.12, which is an increase of 52.38% compared to the same period last year[4] - The basic and diluted earnings per share for Q1 2023 were both CNY 0.013, marking a year-on-year increase of 159.76%[4] - The net profit for Q1 2023 was CNY 2,665,355.88, a significant increase of 160.0% compared to CNY 1,026,347.36 in Q1 2022[17] - Operating profit reached CNY 2,772,671.30, up 156.0% from CNY 1,083,883.60 in the same period last year[17] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -24,393,931.78, showing a decline of 246.58% year-on-year[4] - Cash and cash equivalents as of March 31, 2023, were CNY 101,721,940.14, down from CNY 316,251,167.83 as of December 31, 2022, a decline of about 67.8%[13] - The total cash and cash equivalents at the end of Q1 2023 were CNY 101,506,940.14, compared to CNY 95,444,142.46 at the end of Q1 2022[19] - The company's cash and cash equivalents at the end of Q1 2023 were CNY 50,846,346.67, down from CNY 55,694,221.55 at the end of Q1 2022[27] - Cash flow from operating activities showed a net outflow of CNY 24,393,931.78, contrasting with a net inflow of CNY 16,642,256.51 in Q1 2022[18] - The cash flow from operating activities in Q1 2023 was CNY 111,010,426.29, down from CNY 133,277,246.50 in Q1 2022, indicating a decline of approximately 16.7%[27] Assets and Liabilities - The total assets at the end of the reporting period were CNY 710,365,325.09, a decrease of 11.23% from the end of the previous year[4] - Total assets as of March 31, 2023, amounted to CNY 710,365,325.09, down from CNY 800,221,561.81 as of December 31, 2022, a decrease of approximately 11.2%[15] - Total liabilities as of March 31, 2023, were CNY 282,381,086.65, down from CNY 374,902,679.25 as of December 31, 2022, a reduction of about 24.7%[15] - The total liabilities increased to CNY 146,291,361.69 in Q1 2023, compared to CNY 43,378,872.63 in Q1 2022, reflecting a substantial rise[22] - The total assets as of March 31, 2023, included CNY 256,627,987.18 in current assets, up from CNY 152,657,976.90 at the end of 2022[20] Operational Costs and Profitability - Total operating costs for Q1 2023 were CNY 282,411,678.46, compared to CNY 114,432,783.06 in Q1 2022, indicating an increase of about 146.6%[16] - Gross profit for Q1 2023 was CNY 595,038.24, up from CNY 783,353.22 in Q1 2022, reflecting a decrease of approximately 24.0%[16] - The company reported a net loss of CNY 28,915,782.48 for Q1 2023, an improvement compared to a net loss of CNY 31,579,526.02 in Q1 2022[15] Government Support and Other Factors - The company received government subsidies amounting to CNY 865,385.59 during the reporting period, contributing to the increase in net profit[6] - The company reported a fair value change in its holdings of Shanghai Bank stocks, which positively impacted the net profit[6] - The company is involved in a legal dispute regarding land lease contracts, which may affect its operations[10] - The company has signed a handover agreement with Beicai Asset Management regarding the transfer of land and property as per a court ruling, which does not affect the ongoing appeal process[11] Research and Development - Research and development expenses were not explicitly stated but are part of the overall management expenses of CNY 7,468,874.23, which increased from CNY 6,051,883.70[17]