GuoChuang(SZ:300520)2023-04-24 16:00Financial Performance - The company's revenue for Q1 2023 was ¥537,867,814.62, representing a 56.83% increase compared to ¥342,963,723.55 in the same period last year[5] - Net profit attributable to shareholders decreased by 89.88% to ¥2,383,027.40 from ¥23,558,931.43 year-on-year[5] - The total operating revenue for Q1 2023 was RMB 537,867,814.62, an increase of 56.7% compared to RMB 342,963,723.55 in the same period last year[19] - In Q1 2023, the company reported a net profit of CNY 4,067,205.58, a significant decrease of 82.6% compared to CNY 23,404,522.16 in the same period last year[20] - The company’s basic earnings per share (EPS) was CNY 0.010, down from CNY 0.097 in the same quarter last year[21] - The total comprehensive income for the period was CNY 3,996,417.71, a decrease of 82.7% compared to CNY 23,051,737.33 in Q1 2022[21] - The company's total operating profit was CNY 2,954,686.34, a decrease of 87.9% from CNY 24,462,849.03 in Q1 2022[20] Cash Flow and Assets - The net cash flow from operating activities was negative at ¥171,531,663.46, a 4.26% decline compared to the previous year[5] - The cash and cash equivalents at the end of Q1 2023 amounted to RMB 691,285,117.45, down from RMB 795,400,988.88 at the beginning of the year, indicating a decrease of approximately 13.1%[16] - The company's operating cash flow net amount was -CNY 171,531,663.46, slightly worse than -CNY 164,524,634.24 in the previous year[24] - The cash and cash equivalents at the end of the period were CNY 485,915,623.75, down from CNY 564,696,650.48 at the end of Q1 2022[24] - Total assets increased by 12.15% to ¥4,013,077,652.74 from ¥3,578,443,850.45 at the end of the previous year[5] - The total assets as of March 31, 2023, were RMB 4,013,077,652.74, slightly down from RMB 4,056,383,854.70 at the beginning of the year[18] Liabilities and Expenses - The total liabilities decreased to RMB 2,456,668,032.10 from RMB 2,505,846,578.60, a reduction of approximately 2.0%[18] - The total operating costs for Q1 2023 were RMB 562,914,694.69, up from RMB 351,492,340.72 in the previous year, reflecting a significant increase in costs[19] - The company incurred financial expenses of CNY 6,033,464.84, an increase of 1.9% from CNY 5,923,574.49 in the previous year[20] - The company reported a tax expense of -CNY 1,080,864.42, compared to a tax expense of CNY 1,054,167.84 in the same quarter last year[20] Investment and R&D - The company experienced a 62.25% decrease in receivables financing compared to the beginning of the period, mainly due to a reduction in bank acceptance bills[9] - Other current assets grew by 47.00% due to significant input tax credits related to the "Double Intelligence" base construction[9] - The company reported a significant decline in investment activities, with net cash flow from investing activities down 84.21% due to ongoing investments in the "Double Intelligence" base[9] - The company maintained high investment in R&D and market expansion in the "Double Intelligence" field despite the overall performance decline[8] - Research and development expenses amounted to CNY 65,346,137.99, a decrease of 1.4% from CNY 66,268,570.17 in Q1 2022[20] - The company has ongoing research and development efforts, although specific new products or technologies were not detailed in the report[19] Strategic Decisions - The decline in net profit was attributed to increased competition in the new energy vehicle sector and the product upgrade cycle affecting short-term development[7] - The company decided to terminate the plan for issuing shares to specific targets due to industry policy changes and business development considerations[14] - The company is focusing on strategic adjustments in response to market conditions, although specific strategies were not disclosed[14]