STHC(SZ:200045)2023-04-28 16:00Financial Performance - The company's revenue for Q1 2023 was ¥679,306,013.14, representing a 1.31% increase compared to ¥670,551,882.04 in the same period last year[5] - Net profit attributable to shareholders decreased by 25.63% to ¥13,108,613.21 from ¥17,625,745.18 year-on-year[5] - The net profit after deducting non-recurring gains and losses fell by 60.43% to ¥5,976,220.27 from ¥15,102,181.63 in the previous year[5] - Total operating revenue for Q1 2023 was CNY 679,306,013.14, an increase of 1.1% compared to CNY 670,551,882.04 in Q1 2022[25] - Net profit for Q1 2023 was CNY 17,441,240.94, a decrease of 24.5% from CNY 22,978,570.32 in Q1 2022[26] - The basic earnings per share for Q1 2023 was CNY 0.0259, down from CNY 0.0348 in Q1 2022, reflecting a decline of 25.6%[26] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, reaching ¥2,240,056.33 compared to a negative cash flow of ¥65,966,923.49 in the same period last year, marking a 103.40% increase[5] - The company's cash flow from operating activities was CNY 619,218,403.72, compared to CNY 604,500,101.55 in the previous year, indicating a positive cash flow trend[27] - Total cash inflow from operating activities was 646,903,342.23, while cash outflow was 644,663,285.90, resulting in a net increase of 2,240,056.33[28] - The total cash and cash equivalents at the end of Q1 2023 were 555,406,105.73, down from 874,474,834.46 at the beginning of the quarter[28] - The company paid 73,827,608.46 in employee-related cash payments, an increase from 66,865,538.16 in Q1 2022[28] - The cash paid for taxes in Q1 2023 was 14,044,648.39, significantly lower than 135,772,979.52 in Q1 2022[28] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥5,576,417,865.41, a decrease of 0.72% from ¥5,617,137,367.90 at the end of the previous year[5] - Total liabilities decreased to CNY 1,527,670,685.90 in Q1 2023 from CNY 1,586,095,042.48 in Q4 2022, a reduction of 3.7%[24] - The company reported a total current assets of RMB 2.75 billion at the end of the reporting period, slightly up from RMB 2.73 billion at the beginning of the year[22] Research and Development - Research and development expenses increased by 44.66% to ¥1,892.12 million from ¥1,308.00 million year-on-year, indicating a focus on innovation[10] - Research and development expenses increased to CNY 18,921,219.17 in Q1 2023, up from CNY 13,080,014.85 in Q1 2022, representing a growth of 44.5%[25] Operational Efficiency and Strategy - The company is focusing on optimizing product structure and improving operational efficiency, which has positively impacted its business performance[16] - The company did not conduct any significant acquisitions or new product launches during this quarter, focusing instead on operational efficiency[28] Market and Competition - The decline in net profit was primarily attributed to intensified industry competition and a decrease in polarized film prices, along with increased procurement costs due to the depreciation of the RMB[8] - The company achieved a historical high in polarizer sales in March, with the 7th production line contributing over 50% of the total sales volume[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 34,973, indicating a stable shareholder base[11] Corporate Actions - The company is actively progressing with its restructuring plan, which was approved by the board on December 30, 2022, and the stock resumed trading on January 3, 2023[14] - The company completed the transfer of 40% equity in its subsidiary, Shengbo Optoelectronics, to Hengmei Optoelectronics, enhancing collaboration in the polarizer industry[18] - The company is involved in ongoing litigation regarding the dissolution of its subsidiary, Shengbo Optoelectronics, with a court hearing held on September 22, 2022, and a withdrawal of the lawsuit by the plaintiff on April 6, 2023[20]