Westone(SZ:002268)2023-04-20 16:00Financial Performance - Total operating revenue for Q1 2023 was CNY 413,167,921.24, a decrease of 36.5% compared to CNY 651,331,607.37 in the same period last year[23] - Total revenue decreased by 36.57% compared to the same period last year, amounting to ¥413,167,921.24[31] - Net profit attributable to shareholders decreased slightly by 2.49%, totaling -¥36,954,112.11[31] - The net profit for the current period is -36,891,872.14, compared to -35,787,089.99 in the previous period, indicating a slight increase in losses[42] - The total profit for the current period is -52,544,109.11, compared to -53,978,490.57 in the previous period, indicating a reduction in losses[42] - The total comprehensive income for the current period is -36,891,872.14, compared to -35,787,089.99 in the previous period, indicating a continued trend of losses[42] Operating Costs and Expenses - Operating costs for Q1 2023 were CNY 462,707,100.08, down 33.8% from CNY 698,372,512.18 year-on-year[23] - Operating costs decreased by 53.96% compared to the same period last year, reflecting the decline in revenue[34] - Research and development expenses for Q1 2023 were CNY 114,933,884.50, an increase from CNY 94,644,355.28 in the same period last year, indicating a focus on innovation[23] Cash Flow and Investments - Net cash flow from operating activities increased by 46.14% year-on-year, indicating improved cash management[17] - Investment activities generated a net cash flow increase of 95.4% compared to the previous year, reflecting strategic investment decisions[17] - Cash flow from operating activities generated 297,480,930.33, down from 324,884,666.16 in the previous period, reflecting a decrease of approximately 8.5%[42] Assets and Liabilities - The company's total assets at the end of Q1 2023 were CNY 7,065,174,434.65, down from CNY 7,566,748,883.08 at the beginning of the year[23] - Total assets decreased by 6.63% compared to the end of the previous year, totaling ¥7,065,174,434.65[31] - The company's cash and cash equivalents decreased to CNY 1,744,325,266.60 from CNY 2,111,850,455.98 at the beginning of the year[20] - Non-current liabilities totaled approximately CNY 1.86 billion, down from CNY 2.32 billion in the previous period[38] - The company reported a decrease in accounts payable from CNY 1.16 billion to CNY 1.03 billion[38] - Other current liabilities decreased by 38.39%, mainly due to a reduction in contract liabilities[34] Equity and Shareholder Information - The company's total equity at the end of Q1 2023 was CNY 5,204,093,439.00, down from CNY 5,248,849,942.21 at the beginning of the year[23] - Owner's equity attributable to shareholders decreased by 0.69%, amounting to ¥5,198,518,897.26[31] - The number of common shareholders at the end of the reporting period was 95,857, with the largest shareholder holding 32.95%[35] - The largest shareholder, China Electronics Technology Network Information Security Co., Ltd., holds 278,750,040 shares[35] Other Financial Metrics - The company reported a government subsidy of CNY 3,602,000.00 during the quarter, contributing to its financial performance[8] - Other income increased significantly by 258.18%, primarily due to an increase in VAT refunds received[34] - Tax payable decreased by 48.22% compared to the beginning of the year, mainly due to the payment of last year's VAT and corporate income tax[34] - The company has a deferred tax asset of approximately CNY 186.06 million, an increase from CNY 159.92 million[38] - The company has ongoing investments in fixed assets amounting to approximately CNY 291.83 million[38] - The company has a significant amount of construction in progress valued at approximately CNY 1.10 billion[38] - The company has engaged in margin trading, with key shareholders holding significant shares in their margin accounts[36]