SNS(SZ:300470)2023-04-25 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 287,347,512.72, representing an increase of 8.48% compared to CNY 264,878,260.02 in the same period last year[4]. - Net profit attributable to shareholders was CNY 80,564,010.35, a growth of 30.52% from CNY 61,723,711.19 year-on-year[4]. - Basic earnings per share rose to CNY 0.3954, up 31.36% from CNY 0.3010 in the same quarter last year[4]. - The total operating revenue for Q1 2023 was CNY 287,347,512.72, an increase of 8.4% compared to CNY 264,878,260.02 in the same period last year[28]. - The total operating costs for Q1 2023 were CNY 201,731,347.49, up from CNY 196,691,759.65, reflecting a rise of 2.5% year-over-year[28]. - The company's total assets as of March 31, 2023, amounted to CNY 2,871,463,872.42, up from CNY 2,780,703,928.51 at the beginning of the year, representing a growth of 3.3%[26]. - The total profit for Q1 2023 was CNY 91,876,755.91, an increase of 30.4% from CNY 70,454,814.91 in Q1 2022[30]. - The operating profit for Q1 2023 reached CNY 89,873,267.58, up from CNY 70,752,200.11 in the same period last year, reflecting a growth of 27.0%[30]. - The company reported a tax expense of CNY 11,211,781.54 for Q1 2023, compared to CNY 8,714,255.65 in the same quarter last year, reflecting a rise of 28.7%[30]. Cash Flow and Investments - The net cash flow from operating activities surged to CNY 25,689,527.49, marking a significant increase of 2,011.89% compared to CNY 1,216,424.81 in the previous year[4]. - The net cash flow from financing activities was CNY 6,709,956.17, a remarkable increase of 2,113.09% compared to a negative cash flow of CNY 333,316.82 in the previous year[10]. - Total cash inflow from investment activities was CNY 660,112,365.63, compared to CNY 391,557,929.89 in the prior year, indicating a growth of 68.5%[33]. - The net cash outflow from investment activities was CNY 69,174,276.14, worsening from a net outflow of CNY 46,339,568.29 in the same period last year[34]. - The cash and cash equivalents at the end of Q1 2023 were CNY 209,042,717.47, down from CNY 251,456,300.28 at the beginning of the year, a decline of 16.9%[25]. - The cash and cash equivalents at the end of Q1 2023 stood at CNY 186,667,650.43, down from CNY 354,038,407.91 at the end of Q1 2022[34]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,871,463,872.42, reflecting a 3.26% increase from CNY 2,780,703,928.51 at the end of the previous year[4]. - The total liabilities decreased to CNY 376,209,294.54 from CNY 390,474,724.88, indicating a reduction of 3.6%[27]. - The company's equity attributable to shareholders increased to CNY 2,491,434,070.63 from CNY 2,386,516,949.94, reflecting a growth of 4.4%[27]. - The accounts receivable rose to CNY 630,432,563.26 from CNY 587,397,383.67, an increase of 7.3% year-over-year[25]. - The inventory balance increased to CNY 364,868,836.26 from CNY 327,501,828.69, showing a growth of 11.4%[25]. Research and Development - Research and development expenses increased by 38.24% to CNY 17,905,191.80, compared to CNY 12,952,415.85 in the same period last year[10]. - Research and development expenses increased significantly to CNY 17,905,191.80, compared to CNY 12,952,415.85 in the previous year, marking a growth of 38.3%[28]. Shareholder Information - The company reported a total of 11,401,204 shares under lock-up, with 1,579,504 shares released during the period, resulting in 9,821,700 shares remaining under lock-up[16]. - The company has a repurchase account holding 2,818,700 shares, ranking tenth among the top ten unrestricted shareholders[14]. - The actual controller of the company, the Provincial Machinery Institute, underwent a shareholder change, with no change in the total number of shares held or the holding ratio[17]. - The company’s stock incentive plan released 1,579,504 shares on March 20, 2023, as part of the third release period[16]. - The top ten unrestricted shareholders include Sichuan Chuanji Investment Co., Ltd. with 45,970,265 shares, accounting for a significant portion of the total[15]. - The company’s major shareholders include Hong Kong Central Clearing Limited with 26,176,422 shares and China Industrial Bank with 10,001,600 shares[15]. - The company’s stock incentive plan allows for a 25% release of locked shares annually based on total holdings[16]. - The company’s total number of unrestricted shares held by the top ten shareholders is 100,000,000 shares[15]. - The company’s stock structure includes a mix of individual and institutional investors, with significant holdings from investment funds[15]. - The company’s performance in the first quarter reflects ongoing strategic initiatives and shareholder engagement[17]. - The company approved the release of 1,579,504 restricted shares, representing approximately 0.76% of the total share capital of 208,171,277 shares[18]. - The company completed a share buyback of 2,818,700 shares at a total cost of approximately RMB 104.2 million, with prices ranging from RMB 33.18 to RMB 41.28 per share[18]. - The company’s share buyback program was approved with a budget between RMB 100 million and RMB 200 million[18]. Financial Management - The company utilized RMB 3 million of idle raised funds for cash management, with RMB 2.7 million remaining due[19]. - The company used RMB 76.6 million of idle self-owned funds for cash management, with the entire amount still outstanding[19]. - The company has invested in various financial products, including a principal-protected floating income product with a total amount of RMB 3 million, yielding an annualized return of 1.54-3.5%[21]. - The company has a total of RMB 19 million in financial products maturing on March 29, 2023, with an annualized return of 1.54-3.5%[22]. - The company has a cash management plan approved for up to RMB 80 million of idle self-owned funds, valid for 12 months[19]. - The company’s financial management strategy includes investing in low-risk financial products to ensure capital safety while generating returns[19]. - The company’s independent directors expressed agreement with the share release and buyback plans, ensuring compliance with regulations[18]. Market Strategy - The company did not report any new product launches or significant market expansion strategies during the quarter[35].