Fushine(SZ:300497)2023-04-25 16:00Financial Performance - The company's revenue for Q1 2023 was ¥397.92 million, a decrease of 1.10% compared to ¥402.33 million in the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥30.15 million, representing a decline of 207.86% from a profit of ¥27.95 million in the previous year[5]. - The basic and diluted earnings per share were both -¥0.06, down 220.00% from ¥0.05 in the same quarter last year[5]. - The company's net profit for the period was -¥33.59 million, a decline of 244.28% compared to a profit of ¥23.28 million in the previous year, mainly due to a decrease in product prices and gross profit margins[9]. - Total operating revenue for Q1 2023 was CNY 397,918,173.64, a decrease of 1.03% compared to CNY 402,333,468.40 in the same period last year[27]. - Net profit for Q1 2023 was a loss of CNY 33,590,833.08, compared to a profit of CNY 23,281,932.07 in Q1 2022, indicating a significant decline in profitability[29]. - Total revenue from sales of goods and services received in Q1 2023 was CNY 124,519,192.17, a decrease from CNY 246,083,864.83 in Q1 2022[31]. Cash Flow and Assets - The net cash flow from operating activities was -¥94.83 million, a decrease of 93.69% compared to -¥48.96 million in the same period last year[5]. - Cash and cash equivalents at the end of Q1 2023 were CNY 689,922,521.41, down from CNY 978,027,566.82 at the beginning of the year, representing a decline of 29.48%[24]. - Total current assets decreased to CNY 1,953,998,677.02 from CNY 2,229,278,305.12, reflecting a reduction of 12.34%[24]. - Total liabilities decreased to CNY 2,207,864,324.57 from CNY 2,370,197,741.24, a decline of 6.86%[25]. - The company's total assets decreased to CNY 4,865,366,311.20 from CNY 5,059,834,182.46, a decline of 3.84%[25]. - Cash flow from operating activities showed a net outflow of CNY 94,831,724.81 in Q1 2023, worsening from a net outflow of CNY 48,959,708.08 in Q1 2022[32]. - Cash and cash equivalents at the end of Q1 2023 were CNY 619,312,659.18, down from CNY 1,218,580,837.61 at the end of Q1 2022, a decrease of approximately 49%[32]. Costs and Expenses - Total operating costs for Q1 2023 were CNY 431,474,684.77, an increase from CNY 372,752,389.58 in Q1 2022, representing a growth of approximately 15.8%[28]. - Research and development expenses increased to CNY 19,477,717.76 in Q1 2023 from CNY 16,774,533.75 in Q1 2022, reflecting a growth of about 10.1%[28]. - Financial expenses increased by 187.22% to ¥10.87 million due to higher interest expenses from increased borrowings[9]. - The company reported a significant decrease in other income, down 69.18% to ¥1.05 million, primarily due to reduced government subsidies received[9]. Strategic Focus and Development - The decline in performance was primarily due to high raw material prices and decreased product prices, which compressed profit margins[14]. - The company plans to focus on cost reduction and efficiency improvement across various business modules to enhance market competitiveness[16]. - In 2023, the company aims to strengthen its lithium battery electrolyte additive segment and expand its product line with VC, FEC, and BOB series products[17]. - The company is also developing new electronic chemicals and specialty materials to cultivate potential in the new materials sector[17]. - The company emphasizes safety production as a critical aspect of its operational strategy[19]. - The company emphasizes the importance of safety production management and compliance governance as key drivers for sustainable development[21]. - The company is committed to enhancing its safety culture and management systems to ensure a safe working environment[24]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 25,828[12]. - The company holds 11,355,900 shares in its repurchase account, accounting for 2.06% of the total share capital[13]. - A proposal for a simplified procedure to issue up to RMB 300 million in new shares, not exceeding 20% of the latest year's net assets, will be presented to the shareholders' meeting[18]. Audit Information - The company did not undergo an audit for the Q1 2023 report[33].