SIRIO(SZ:300791)2023-04-27 16:00Financial Performance - The company's revenue for Q1 2023 reached ¥702,158,705.58, representing a 66.69% increase compared to ¥421,248,609.14 in the same period last year[4] - Net profit attributable to shareholders was ¥29,399,867.21, a 100.84% increase from ¥14,638,612.62 year-on-year[4] - The net profit after deducting non-recurring gains and losses surged by 490.63% to ¥25,455,628.46 from ¥4,309,880.47 in the previous year[4] - The company’s basic earnings per share increased by 100.62% to ¥0.1629 from ¥0.0812 in the previous year[4] - The net profit for Q1 2023 was CNY 18,758,317.18, an increase of 28.8% compared to CNY 14,638,612.62 in Q1 2022[32] - The total operating profit for Q1 2023 was CNY 24,965,230.25, an increase from CNY 17,746,209.01 in Q1 2022, showing a growth of 40.0%[32] Assets and Liabilities - The company's total assets increased by 11.55% to ¥4,669,180,197.02 from ¥4,185,817,139.24 at the end of the previous year[4] - The total liabilities as of the end of Q1 2023 were 1,818,738,754.91 yuan, compared to 1,484,293,151.85 yuan at the beginning of the year, showing an increase of approximately 22.5%[29] - As of the end of Q1 2023, the company's total assets amounted to 4,669,180,197.02 yuan, an increase from 4,185,817,139.24 yuan at the beginning of the year[30] Cash Flow - Cash flow from operating activities decreased by 72.79% to ¥37,879,957.19 from ¥139,235,270.31 in the same period last year[4] - The net cash flow from operating activities decreased by 72.79% to approximately ¥37.88 million, primarily due to transaction-related expenses from BF[15] - The net cash flow from investing activities was negative at approximately ¥676.82 million, an increase of 254.31% compared to the previous period, mainly due to the acquisition of BF[15] - The net cash flow from financing activities also turned negative at approximately ¥261.28 million, a significant increase of 18,219.12% from the previous period, primarily due to BF repaying bank loans[15] - The company's cash and cash equivalents decreased by 67.51% to ¥487,896,996.45, mainly due to the payment for the acquisition of BF[10] - The company's cash and cash equivalents decreased to 487,896,996.45 yuan from 1,501,602,794.16 yuan at the beginning of the year, a decline of approximately 67.5%[26] Inventory and Expenses - The company reported a significant increase in inventory, which rose by 88.90% to ¥439,343,952.26 due to the consolidation of Best Formulations LLC (BF)[10] - The total operating costs for Q1 2023 were 683,269,157.07 yuan, compared to 418,839,974.40 yuan in the previous year, indicating a rise of about 63.2%[31] - The company’s sales expenses rose by 132.01% to ¥52,632,216.27, attributed to the recovery of marketing activities and expenses related to the acquisition of BF[12] Shareholder Information - The total number of common shareholders at the end of the reporting period was 7,436, with no preferred shareholders having restored voting rights[17] - Guangdong Guanghui Investment Co., Ltd. holds the largest share at 43.08%, with 77,760,000 shares[17] - The total number of restricted shares at the beginning of the period was 113,344,949, with 85,536,000 shares released during the period[20] Acquisitions and Investments - The acquisition of 80% of Best Formulations Inc. was completed, with the company obtaining approximately 71.41% of the equity after adjustments to the transaction structure[21][22] - The company has completed all necessary foreign investment registration and compliance procedures for the acquisition of Best Formulations[23] - The company raised a total of 102,489.29 million yuan by issuing 10,248,929 convertible bonds, with each bond having a face value of 100 yuan[24] - The company has decided to redirect 10,531.66 million yuan originally allocated for the East China R&D Center to the soft capsule workshop technology upgrade project[24] - The company incurred a total investment cash outflow of CNY 728,378,578.08, compared to CNY 352,111,367.96 in the previous year, indicating increased investment activity[36] Other Financial Metrics - The company reported a significant foreign exchange loss of CNY -1,334,197.68 during the quarter[37] - The company experienced a credit impairment loss of CNY 1,699,011.21, compared to CNY 2,781,920.46 in the previous year, indicating an improvement in credit quality[32] - The total comprehensive income for Q1 2023 was CNY -110,875,780.68, compared to CNY 14,138,814.21 in Q1 2022, indicating a significant decline[33]