Sinomag Tech.(SZ:300835)2023-04-26 16:00Revenue and Profitability - The company's revenue for Q1 2023 was ¥259,485,487.13, representing a 15.60% increase compared to ¥224,475,464.98 in the same period last year[5] - Net profit attributable to shareholders decreased by 45.16% to ¥15,303,470.45 from ¥27,908,204.83 year-on-year[5] - Basic and diluted earnings per share dropped by 66.67% to ¥0.13 from ¥0.39 in the same period last year[5] - Net profit for Q1 2023 was CNY 21,676,497.74, a decrease of 22.5% from CNY 27,908,204.83 in Q1 2022[20] - The total comprehensive income for the first quarter of 2023 was CNY 26,298,064.95, compared to CNY 25,383,226.51 in the previous period, reflecting an increase of approximately 3.6%[21] Cash Flow - The net cash flow from operating activities was negative at -¥13,996,830.24, a decline of 156.19% compared to ¥24,911,340.38 in the previous year[5] - The net cash flow from operating activities was negative at CNY -13,996,830.24, a significant decline from CNY 24,911,340.38 in the same period last year[24] - The net cash flow from investing activities was CNY -97,967,576.22, worsening from CNY -64,564,049.68 in the previous year[24] - The cash and cash equivalents at the end of the period totaled CNY 118,414,391.51, down from CNY 198,842,841.74 at the end of the previous period[24] - The company reported a cash outflow of CNY 31,809,624.08 related to other operating activities, significantly higher than CNY 9,676,207.06 in the previous year[24] Assets and Liabilities - Total assets increased by 15.12% to ¥1,909,100,668.06 from ¥1,658,386,518.74 at the end of the previous year[5] - Current assets totaled CNY 919,327,679.73, up 21.8% from CNY 754,783,412.44 at the start of the year[16] - Inventory increased to CNY 425,097,377.94, a rise of 29.4% compared to CNY 328,424,819.46 at the beginning of the year[16] - The total liabilities increased to CNY 869,476,728.34, up 31.1% from CNY 663,550,594.57 at the beginning of the year[17] - The company's equity attributable to shareholders rose to CNY 1,014,760,961.83, an increase of 2% from CNY 994,835,924.17 at the start of the year[17] Operating Costs and Expenses - Total operating costs for Q1 2023 were CNY 239,217,388.81, up 17.6% from CNY 203,344,403.08 in Q1 2022[19] - The company reported a significant increase in research and development expenses, totaling CNY 17,751,146.18, up 19.5% from CNY 14,901,567.87 in the previous year[20] - The company paid CNY 57,794,517.06 in employee compensation, an increase from CNY 51,789,928.97 in the previous period, reflecting a rise of approximately 11.5%[24] Other Financial Metrics - The weighted average return on equity decreased to 2.13% from 2.89% year-on-year[5] - The company included its subsidiary, Enwo New Energy, in the consolidated financial statements, which generated revenue of ¥56,358,800 and net profit of ¥14,066,400 during the reporting period[13] - The company's prepayments increased by 163.00% to ¥29,831,717.94, indicating a rise in procurement prepayments[9] - The company's intangible assets rose by 40.50% to ¥73,115,225.79 due to the consolidation of Enwo New Energy's intangible assets[9] - The company reported a 74.07% decrease in other income to ¥2,263,144.31, primarily due to a reduction in government subsidies[9] - Sales revenue from goods and services received cash amounted to CNY 233,090,008.14, up from CNY 203,430,633.13, indicating a growth of about 14.6%[23] - The total cash inflow from financing activities was CNY 170,588,333.33, compared to CNY 112,772,619.35 in the previous year, showing an increase of about 51.3%[24] - The company did not report any net profit from subsidiaries prior to consolidation, consistent with the previous period[21]