CORPRO(SZ:300101)2023-04-24 16:00Financial Performance - In Q1 2023, the company achieved operating revenue of CNY 192.16 million, a decrease of 4.48% compared to the same period last year[13]. - The net profit for the period was CNY 50.07 million, down from CNY 72.04 million in the same period last year[12]. - The company achieved an operating profit of 54.26 million yuan, a decrease of 33.28% compared to the same period last year[55]. - The total profit was 54.27 million yuan, down 33.26% year-on-year[55]. - The net profit attributable to shareholders was 50.89 million yuan, a decline of 24.76% year-on-year[55]. - Revenue from the Beidou navigation comprehensive application business was 40.68 million yuan, a decrease of 45.62% compared to the same period last year[61]. - Basic earnings per share were 0.0904 yuan, down from 0.1208 yuan in the previous year[65]. Cash Flow and Investments - Cash flow from operating activities was -102.64 million yuan, worsening from -23.30 million yuan in the previous year[59]. - Cash flow from investment activities was 21.02 million yuan, a significant improvement from -140.39 million yuan in the previous year[49]. - Cash flow from financing activities was 84.61 million yuan, compared to -32.76 million yuan in the previous year[49]. - The company’s cash paid for investment decreased by 84.38% year-on-year to CNY 15 million, indicating a reduction in investment activities[18]. - The company reported cash and cash equivalents at the end of the period amounting to 215.19 million yuan, up from 188.78 million yuan in the previous year[49]. Expenses and Liabilities - The company reported a credit impairment loss of CNY 7.93 million, an increase of 1102.14% year-on-year, primarily due to a significant increase in accounts receivable[3]. - The company’s cash paid for purchasing goods and services was CNY 124.19 million, up 56.18% from the previous year, indicating higher operational costs[18]. - Management expenses increased by 79.70% to ¥39,317,598.82, primarily due to higher share-based payment expenses[85]. - The company has a total debt of approximately RMB 791.22 million, with non-current liabilities totaling RMB 75.78 million[30]. Research and Development - The company's R&D expenses amounted to CNY 32.99 million, compared to CNY 18.31 million in the same period last year, reflecting an increase in investment in innovation[12]. - The company reported a significant increase in R&D expenses, which rose by 80.23% to ¥32,995,057.87, reflecting ongoing investment in key projects and team expansion[82]. Assets and Shareholder Information - The company’s total assets amounted to approximately RMB 2.65 billion, compared to RMB 2.61 billion in the previous period[30]. - The total assets of the company increased to CNY 2,653,560,182.08 from CNY 2,605,870,931.56, reflecting a growth of approximately 1.82%[44]. - The company's current assets totaled CNY 2,036,354,770.83, up from CNY 1,968,399,551.47, indicating an increase of about 3.47%[44]. - The total number of common shareholders at the end of the reporting period is 35,408, with the largest shareholder holding 29.38% of shares[20]. - The company’s equity attributable to shareholders reached RMB 1.68 billion, an increase from RMB 1.53 billion in the previous period[30]. Governance and Strategic Challenges - The company is facing governance challenges due to conflicts among shareholders, which may impact future strategic and financial decisions[39]. - The company adjusted the grant price of its stock incentive plan from CNY 19.76 per share to CNY 19.71 per share, reflecting a minor adjustment[41]. Other Income and Subsidies - Cash received from government subsidies increased significantly, totaling CNY 14.31 million, a rise of 407.24% year-on-year[18]. - Other income rose significantly by 159.47% to ¥15,292,215.65, mainly due to increased government subsidies received[85].