Increase(SZ:300713)2019-04-28 16:00Financial Performance - Total revenue for Q1 2019 was ¥56,429,632.34, representing a 24.68% increase compared to ¥45,259,930.09 in the same period last year[8] - Net profit attributable to shareholders decreased by 97.16% to ¥410,252.17 from ¥14,470,941.09 year-on-year[8] - Net profit after deducting non-recurring gains and losses was -¥1,359,465.98, a decline of 110.45% compared to ¥13,011,629.44 in the previous year[8] - Basic and diluted earnings per share fell by 97.16% to ¥0.0043 from ¥0.1513 year-on-year[8] - The company reported a 91.78% decrease in other income, primarily due to reduced software product tax refunds[20] - The net profit for Q1 2019 was a loss of CNY 1,828,150.21, compared to a net profit of CNY 14,470,941.09 in Q1 2018, indicating a substantial decline in profitability[51] - The total comprehensive income attributable to the parent company was CNY 410,252.17, down from CNY 14,470,941.09 in the previous year[56] Cash Flow - Net cash flow from operating activities was -¥6,918,346.32, a decrease of 274.48% from ¥3,965,227.64 in the same period last year[8] - The company experienced a 274.48% decline in cash flow from operating activities, resulting in a net outflow of ¥6,918,346.32[18] - The net cash flow from operating activities for the current period is 4,045,104.22, compared to 902,888.53 in the previous period, representing a significant increase[62] - Total cash inflow from operating activities is 66,808,170.16, up from 55,048,555.80 in the previous period, indicating a growth of approximately 21.5%[63] - Cash outflow from investing activities totaled 411,142,753.68, compared to 288,981,779.42 in the previous period, reflecting an increase of about 42.4%[64] - The net cash flow from investing activities is -27,344,499.33, an improvement from -104,453,680.16 in the previous period[63] - Cash inflow from financing activities is 28,550,000.00, with a net cash flow of 28,430,374.99 after outflows[64] - The ending cash and cash equivalents balance is 22,977,352.32, compared to 100,367,218.47 at the end of the previous period, showing a decrease of approximately 77%[64] Assets and Liabilities - Total assets at the end of the reporting period were ¥977,906,831.62, a decrease of 0.69% from ¥984,685,965.65 at the end of the previous year[8] - The total current assets decreased to CNY 786,109,118.95 from CNY 821,727,037.75, a decline of approximately 4.3%[41] - The total liabilities decreased to CNY 225,097,292.54 from CNY 230,048,276.36, a reduction of about 2.1%[42] - The total liabilities as of March 31, 2019, amounted to CNY 184,349,452.38, compared to CNY 160,043,757.26 at the end of 2018, showing an increase of 15%[47] Research and Development - Research and development expenses increased by 128.96% to ¥11,112,072.74, reflecting a significant investment in R&D[20] - Research and development expenses for Q1 2019 were CNY 11,112,072.74, significantly higher than CNY 4,853,184.80 in Q1 2018, indicating a focus on innovation[49] - The company plans to continue investing in R&D to enhance product offerings and market competitiveness[54] Operational Strategy - The company plans to enhance its market strategy in response to potential changes in industry policies and competition[23] - The company is focused on maintaining product gross margins amid rising raw material costs and increasing market competition[24] - The company is enhancing its management structure and talent acquisition to cope with rapid expansion and increasing management pressure[27] - The company plans to strengthen external expansion through investments, mergers, and acquisitions to extend its business scope[26] - The company is committed to maintaining stable and independent management of acquired entities while integrating its operational mechanisms[27] Investments and Acquisitions - The company completed the acquisition of 51% of Changsha Guangyi Converter Technology Co., Ltd. for a total of RMB 68 million in 2018[26] - The company has invested a total of RMB 604.67 million from the raised funds in the current quarter, with a cumulative investment of RMB 10,543.83 million[31] - The company has achieved a 11.22% progress on the Smart High-Frequency Power Supply Industrialization Project, with a total investment of RMB 2,637.76 million as of April 25, 2020[31] - The company won the land use rights for T501-0096 plot with a bid of RMB 986 million on February 22, 2019[28] Other Key Metrics - Prepaid accounts increased by 157.95% to ¥4,814,611.55 due to an increase in equipment payments[16] - Other current assets decreased by 62.81% to ¥15,528,596.80 primarily due to the maturity and recovery of financial products[16] - Other non-current assets surged by 696.85% to ¥28,553,268.12, mainly due to increased land payments[16] - The company incurred a financial expense of CNY -2,118,251.94, which includes interest expenses of CNY 119,625.01[54] - The gross profit margin for the quarter was approximately 33.2%, calculated from the operating revenue and cost of goods sold[54]