COFC(SZ:000798)2023-04-24 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥116,450,630.17, representing a 58.16% increase compared to ¥73,629,751.72 in the same period last year[5] - The net loss attributable to shareholders was ¥17,407,005.34, compared to a loss of ¥12,788,319.99 in the previous year, indicating a worsening performance[5] - Total operating revenue for Q1 2023 was CNY 116,450,630.17, an increase of 58.0% compared to CNY 73,629,751.72 in the same period last year[17] - Net loss for Q1 2023 was CNY 17,993,628.44, compared to a net loss of CNY 13,451,084.97 in Q1 2022, representing a decline of 33.5%[18] - The total equity attributable to shareholders was CNY 905,174,095.31, a decrease from CNY 919,261,521.68, indicating a decline of 1.6%[17] Assets and Liabilities - The company's total assets increased by 6.52% to ¥1,436,879,094.14 from ¥1,348,908,794.75 at the end of the previous year[5] - The company reported a total asset of RMB 1,436,879,094.14 as of March 31, 2023, an increase from RMB 1,348,908,794.75 at the beginning of the year, reflecting a growth of approximately 6.5%[14] - The company’s total liabilities increased to RMB 680,288,076.00 from RMB 594,248,706.50, showing an increase of approximately 14.5%[14] - The company reported a total liability of CNY 493,962,773.38, up from CNY 390,794,951.34, reflecting a 26.5% increase[17] Cash Flow - Cash flow from operating activities improved, with a net cash outflow of ¥30,597,785.76, which was an improvement of ¥4,030,870.46 compared to the previous year[8] - Cash flow from operating activities showed a net outflow of CNY 30,597,785.76, an improvement from a net outflow of CNY 34,628,656.22 in the previous year[19] - The cash inflow from operating activities totaled CNY 118,863,868.39, compared to CNY 76,793,059.51 in the same period last year, marking a 55.0% increase[19] - The net cash flow from investing activities was -CNY 15,323,435.08, indicating a significant outflow compared to the previous year's outflow of -CNY 1,620,450.95[20] - The net cash flow from financing activities was CNY 104,624,944.23, a substantial increase from CNY 26,097,991.23 in the same period last year[20] - The company reported a net increase in cash and cash equivalents of CNY 58,260,175.89, contrasting with a decrease of -CNY 10,202,304.47 in the previous year[20] Investments and Expenses - Research and development expenses surged by 1599% to ¥4,802,249.14, reflecting a significant increase in investment in innovation[8] - Research and development expenses increased significantly to CNY 4,802,249.14 from CNY 282,652.39, indicating a focus on innovation[17] - The company’s long-term equity investments amounted to RMB 218,048,026.48, a slight increase from RMB 217,153,231.17[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 19,912, with the largest shareholder, China Agricultural Development Group Co., Ltd., holding 22.14% of the shares[10] Financing Activities - Short-term borrowings rose by 182% to ¥74,530,000.00, indicating increased financing activities[8] - The company plans to apply for a total bank credit limit of up to RMB 700 million to support operational development[12] - The company obtained loans amounting to CNY 108,130,000.00, compared to CNY 45,000,000.00 in the previous year, reflecting a strong financing strategy[20] Miscellaneous - The first quarter report was not audited, which may affect the perception of financial reliability[21] - The impact of exchange rate changes on cash and cash equivalents was a negative CNY 443,547.50, compared to -CNY 51,188.53 last year[20] - The company continues to maintain a strong cash position, with a beginning cash balance of CNY 341,532,544.35, indicating robust liquidity management[20]