Hinova Pharmaceuticals (SH:688302)2024-04-26 07:52Financial Performance - Total revenue for Q1 2024 was 0, indicating no sales during the period [4] - Net profit attributable to shareholders was -47,214,827.41 RMB, reflecting a significant loss [4] - Basic earnings per share were -0.48 RMB, reflecting the company's loss [4] - Net loss for Q1 2024 was ¥47,214,827.41, an improvement from a net loss of ¥75,369,313.02 in Q1 2023, indicating a reduction in losses by about 37.4% [18] - Basic earnings per share improved to -¥0.48 in Q1 2024 from -¥0.76 in Q1 2023 [19] - Total comprehensive loss for Q1 2024 was ¥47,188,448.98, an improvement from a loss of ¥75,410,258.15 in Q1 2023 [18] Cash Flow and Assets - The net cash flow from operating activities was -60,666,610.51 RMB, indicating cash outflow [4] - Cash flow from operating activities showed a net outflow of ¥60,666,610.51 in Q1 2024, slightly better than the outflow of ¥64,019,245.33 in Q1 2023 [20] - Cash flow from investing activities resulted in a net outflow of ¥468,042,110.47 in Q1 2024, compared to a net outflow of ¥344,020,276.72 in Q1 2023 [21] - Cash and cash equivalents were reported at ¥283,459,432.65, down from ¥813,226,984.11, indicating a significant decrease of approximately 65.2% [13] - Cash and cash equivalents at the end of Q1 2024 were ¥283,791,098.05, down from ¥790,756,996.71 at the end of Q1 2023 [21] Research and Development - Research and development expenses totaled 41,975,598.89 RMB, a decrease of 34.05% compared to the previous period [5] - Research and development expenses decreased to ¥41,975,598.89 in Q1 2024 from ¥63,643,959.57 in Q1 2023, a decline of approximately 34.0% [17] - The company is in the process of applying for the new drug "Dihenzarutamide" (Project No: HC-1119) which was accepted by the National Medical Products Administration in November 2023 [7] Assets and Liabilities - Total assets at the end of the reporting period were 1,434,439,409.89 RMB, down 3.83% from the end of the previous year [5] - As of March 31, 2024, the company's total assets amounted to ¥1,434,439,409.89, a decrease from ¥1,491,565,068.87 as of December 31, 2023, reflecting a decline of approximately 3.8% [13] - The company's total current assets decreased to ¥1,071,353,141.04 from ¥1,147,226,484.99, representing a decline of about 6.6% [13] - The company's total liabilities decreased to ¥108,336,092.59 from ¥124,474,719.65, a reduction of about 12.9% [15] - The total equity attributable to shareholders decreased to ¥1,326,103,317.30 from ¥1,367,090,349.22, reflecting a decline of approximately 3.0% [15] Shareholder Information - The total number of common shareholders at the end of the reporting period was 3,601 [10] - The company has not reported any significant changes in shareholder relationships or actions during the reporting period [12] Operational Insights - Total operating revenue for Q1 2024 was not disclosed, while total operating costs decreased to ¥52,309,158.35 from ¥82,609,202.54 in Q1 2023, representing a reduction of approximately 36.8% [17] - The company's accounts payable decreased to ¥77,597,368.39 from ¥92,868,462.38, a reduction of about 16.4% [14] - The company's inventory remained relatively stable, with a slight decrease from ¥5,576.47 to ¥5,167.17 [14] - The company reported a total of ¥736,293,235.84 in trading financial assets, an increase from ¥290,622,163.44, indicating a growth of approximately 153.5% [13] Strategic Developments - There were no new strategies or product developments mentioned in the conference call [12] - The company did not disclose any new product developments or market expansion strategies during the earnings call [22]