Gifore(SZ:300022)2023-04-26 16:00Financial Performance - The company's revenue for Q1 2023 was CNY 486,565,560.52, representing a 3.92% increase compared to CNY 468,198,273.11 in the same period last year[5] - Net profit attributable to shareholders was CNY 1,358,874.79, a significant turnaround from a loss of CNY 2,084,292.09 in the previous year, marking a 165.20% increase[5] - Total operating revenue for Q1 2023 was CNY 486,565,560.52, an increase of 3.0% compared to CNY 468,198,273.11 in Q1 2022[20] - Net profit for Q1 2023 reached CNY 10,995,175.12, compared to CNY 4,318,301.89 in Q1 2022, indicating a significant increase of 154.5%[21] - The company reported a net profit attributable to the parent company of ¥1.36 million, a significant improvement from a loss of ¥2.08 million in the same period last year[24] Cash Flow and Liquidity - The cash flow from operating activities decreased by 13.56% to CNY 56,410,635.78 from CNY 65,262,387.56 year-on-year[5] - The net cash flow from operating activities was ¥56.41 million, down from ¥65.26 million in the previous year, indicating a decrease of approximately 13.5%[24] - The total cash and cash equivalents at the end of Q1 2023 stood at approximately ¥286.46 million, up from ¥158.27 million at the end of Q1 2022, reflecting an increase of about 80.9%[25] - The cash outflow for operating activities was approximately ¥670.63 million, compared to ¥610.17 million in the previous year, indicating an increase of about 9.9%[24] Assets and Liabilities - Total assets increased by 23.74% to CNY 2,011,731,447.24 from CNY 1,625,807,207.99 at the end of the previous year[5] - Total liabilities increased to CNY 1,606,410,559.45 from CNY 1,233,263,252.54, reflecting a rise of 30.3%[19] - The company's accounts receivable increased to CNY 324,835,855.76 from CNY 389,469,206.80, showing a decrease of 16.6%[19] Inventory and Contract Liabilities - The company's inventory rose by 73.81% to CNY 735,904,274.27, primarily due to increased stocking during the period[7] - Contract liabilities surged by 272.46% to CNY 261,567,023.02, attributed to an increase in advance payments from customers[7] Research and Development - Research and development expenses increased by 32.58% to CNY 602,494.64, reflecting higher investment in R&D activities[7] - Research and development expenses for Q1 2023 were CNY 602,494.64, up from CNY 454,424.90, indicating a growth of 32.5%[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 30,873[8] - The top 10 shareholders hold a total of 67,468,691 shares, with the largest shareholder, Wang Xinming, holding 10,710,048 shares[12] - The company has a total of 24,628,500 restricted shares held by shareholder Wang Hongyan, which are set to be released on October 29, 2024[11] Capital Structure and Financing - The company plans to use the funds raised from the issuance of A-shares to pay off interest-bearing debts, which will lower financial costs and enhance profitability[15] - The issuance of A-shares is expected to significantly increase the company's net assets and improve its asset-liability ratio, thereby enhancing financial flexibility[15] - The company has received approval from the China Securities Regulatory Commission for the issuance of A-shares, indicating compliance with issuance and listing conditions[14] - The company is focused on optimizing its capital structure and enhancing its cash flow situation through the upcoming capital raise[15] Government Subsidies - The company reported a significant increase in government subsidies recognized, totaling CNY 866,821.57, up 324.05% from the previous year[7] Compliance and Transparency - The company has been responsive to regulatory inquiries regarding its stock issuance, demonstrating its commitment to transparency and compliance[14] Market Strategy - The company is actively working on new strategies to expand its market presence and improve its financial performance[15] Other Financial Metrics - Basic and diluted earnings per share for Q1 2023 were both ¥0.0036, compared to a loss of ¥0.0055 per share in Q1 2022[24] - The company received tax refunds of ¥135.05, a notable increase from ¥14,967.57 in the previous year[24] - The company did not report any significant new product launches or technological advancements during this quarter[26]