Baota Industry(SZ:000595)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥51,924,685.71, representing a 14.02% increase compared to ¥45,540,201.87 in the same period last year[5]. - The net loss attributable to shareholders for Q1 2023 was ¥17,838,772.65, a 35.44% increase from a loss of ¥13,171,422.22 in the previous year[5]. - The net profit for the first quarter of 2023 was -17,720,660.70 CNY, compared to -13,289,199.72 CNY in the same period last year, representing a decline of approximately 33.5%[17]. - Operating profit for the first quarter was -17,189,415.51 CNY, a decrease from -14,315,265.67 CNY year-over-year, indicating a worsening operational performance[17]. - The total comprehensive income for the first quarter was -17,720,660.70 CNY, compared to -13,289,199.72 CNY in the previous year, reflecting a significant drop in overall financial performance[18]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥31,359,057.15, which is a 5.26% increase in cash outflow compared to -¥29,793,405.70 in the same period last year[5]. - Cash flow from operating activities showed a net outflow of -31,359,057.15 CNY, compared to -29,793,405.70 CNY in the prior year, indicating a further cash drain[19]. - The company's cash and cash equivalents decreased to ¥92,950,679.19 from ¥128,034,141.60, a decline of 27.5%[12]. - The company reported cash and cash equivalents at the end of the period of 89,010,428.59 CNY, down from 211,422,622.90 CNY at the end of the previous year, a decrease of approximately 57.9%[20]. Assets and Liabilities - The total assets at the end of Q1 2023 were ¥1,217,537,457.39, a decrease of 2.13% from ¥1,244,037,120.77 at the end of the previous year[5]. - Total liabilities decreased to ¥507,885,903.63 from ¥516,141,404.38, a decline of 1.0%[14]. - Accounts receivable increased to ¥160,611,688.11 from ¥152,605,147.85, showing a growth of 5.9%[12]. - Inventory rose to ¥218,804,909.52 from ¥203,974,725.48, indicating a growth of 7.2%[12]. Expenses - Total operating costs amounted to ¥69,126,514.37, up from ¥62,402,200.00, reflecting a rise of 10.9%[16]. - Sales expenses rose by 38.49% year-on-year, mainly due to increased sales service fees[8]. - The company incurred operating expenses of 91,502,694.93 CNY, which is an increase from 79,571,955.14 CNY year-over-year, indicating rising costs[19]. - Research and development expenses were ¥1,128,033.22, down from ¥1,520,072.44, a decrease of 25.7%[16]. Other Financial Metrics - The company's weighted average return on equity was -2.71%, down from -1.76% in the same period last year, reflecting a decline of 0.95%[5]. - Basic and diluted earnings per share were both -0.02 CNY, compared to -0.01 CNY in the same quarter last year, indicating a decline in profitability per share[18]. - The total number of ordinary shareholders at the end of the reporting period was 86,905[9]. - Other income increased by 279.11% year-on-year, primarily due to the receipt of individual income tax refunds[8]. Contract Liabilities and Tax - Contract liabilities increased by 72.37% compared to the beginning of the period, attributed to an increase in executed orders[8]. - Tax payable increased by 78.78% compared to the beginning of the period, primarily due to tax payments made[8]. - The company reported a significant increase in contract liabilities to ¥11,225,085.43 from ¥6,512,385.74, a rise of 72.9%[13]. Investment and Financing Activities - Investment activities resulted in a net cash outflow of -2,521,570.40 CNY, compared to -1,240,894.38 CNY in the previous year, showing increased investment expenditures[20]. - Financing activities led to a net cash outflow of -1,202,834.86 CNY, down from -1,839,936.63 CNY in the same period last year, indicating reduced financing costs[20].