ETI(SZ:002005)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥177,192,582.67, a decrease of 49.76% compared to ¥352,707,362.68 in the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥42,265,848.91, an improvement of 17.04% from a loss of ¥50,947,996.63 in the previous year[5]. - Total revenue from sales and services decreased by 50.81% to ¥219,006,072.37, primarily due to a decline in small appliance sales[9]. - The company reported a total comprehensive loss of ¥70,275,642.01 for Q1 2023, compared to a loss of ¥61,738,636.80 in Q1 2022[21]. - Net profit for Q1 2023 was a loss of ¥42,466,621.23, compared to a loss of ¥51,302,726.60 in Q1 2022, representing an improvement of 17.5%[21]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥63,226,171.93, a decline of 373.63% compared to a positive cash flow of ¥23,106,087.40 in the same period last year[5]. - Cash flow from operating activities turned negative, with a net outflow of ¥63,226,171.93, a significant decline from a positive inflow of ¥23,106,087.40 in the previous period[9]. - Cash and cash equivalents at the end of Q1 2023 totaled ¥261,895,112.00, down from ¥304,561,854.98 at the end of Q1 2022[23]. - Cash and cash equivalents decreased by 239.54%, resulting in a net decrease of ¥65,039,741.32, primarily due to lower collections from small appliance sales[9]. - The company experienced a cash outflow of ¥2,814,465.33 due to exchange rate fluctuations during Q1 2023[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,497,839,404.70, down 6.76% from ¥2,678,950,357.01 at the end of the previous year[5]. - Total assets decreased to ¥2.50 billion from ¥2.68 billion, reflecting a decline of about 6.7%[19]. - Total liabilities decreased to ¥1.30 billion from ¥1.41 billion, a reduction of approximately 7.8%[19]. - The company’s total equity attributable to shareholders decreased by 6.38% to ¥1,027,909,173.21 from ¥1,097,984,042.90 at the end of the previous year[5]. Research and Development - The company's R&D expenses decreased by 57.70% to ¥3,087,647.06 from ¥7,299,458.29 in the previous year[8]. - Research and development expenses decreased to ¥3,087,647.06 in Q1 2023, down 57.7% from ¥7,299,458.29 in Q1 2022[20]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 43,951[11]. - The largest shareholder, Zhejiang Chengze Technology Co., Ltd., holds 21.92% of the shares, amounting to 384,129,200 shares[11]. Operational Challenges - The company reported a significant decline in export sales of small household appliances, which contributed to a 62.35% drop in operating revenue[8]. - The company experienced a 79.09% decrease in tax refunds received, totaling ¥6,301,191.25, due to a reduction in export tax rebates[9]. - The company is facing arbitration claims for ¥1 billion and ¥1.5 billion related to disputes with investment groups[13]. - Allegations against the former actual controller involve misappropriation of ¥240 million in government subsidies[14]. - The company is actively cooperating with investigations related to the allegations against its former actual controller to ensure normal business operations[14]. Financing Activities - The company reported an increase of 1678.11% in cash received from borrowings, totaling ¥27,090,654.50, due to increased mortgage borrowings by subsidiaries[9]. - The company’s total cash inflow from financing activities was ¥36,558,922.14, compared to ¥30,192,697.61 in Q1 2022[23]. Other Financial Metrics - The weighted average return on net assets was -3.92%, slightly down from -3.69% in the previous year[5]. - The company recorded an increase in other operating income to ¥3,780,321.61, up 301.91% from ¥940,580.11 in the previous year, mainly due to gains from the disposal of idle equipment[8]. - Operating cash inflow decreased by 52.21% to ¥230,282,343.48, attributed to reduced collections from small appliance sales and export tax rebates[9]. - Accounts receivable decreased to ¥134.85 million from ¥170.62 million, representing a reduction of about 21%[17]. - Inventory levels fell to ¥97.97 million from ¥120.32 million, a decrease of approximately 19%[17].