SINEE(SH:688395)2024-04-26 08:02Financial Performance - The company's operating revenue for Q1 2024 was ¥82,530,192.27, representing a decrease of 16.40% compared to the same period last year[3]. - The net profit attributable to shareholders was ¥8,081,167.93, down 52.37% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was ¥5,603,227.20, a decline of 61.57% compared to the previous year[3]. - Total operating revenue for Q1 2024 was ¥82,530,192.27, a decrease of 16.3% compared to ¥98,719,458.62 in Q1 2023[14]. - Net profit for Q1 2024 was ¥8,081,167.93, a decline of 52.3% from ¥16,965,390.67 in Q1 2023[15]. - Operating profit for Q1 2024 was ¥8,323,962.26, down 55.5% from ¥18,709,203.80 in Q1 2023[14]. - Earnings per share for Q1 2024 was ¥0.09, down from ¥0.20 in Q1 2023[15]. - The total comprehensive income for the period was CNY 7,312,559.49, compared to CNY 13,088,167.15 in the previous year[23]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 75.45% to ¥11,688,941.53, primarily due to a decrease in cash paid for purchasing goods and labor[6]. - Cash flow from operating activities for Q1 2024 was ¥11,688,941.53, an increase of 75.8% compared to ¥6,662,317.40 in Q1 2023[16]. - The company's cash and cash equivalents decreased to RMB 89,975,859.32 from RMB 123,428,076.87, representing a decline of about 27.0%[10]. - The company's cash and cash equivalents at the end of Q1 2024 stood at CNY 28,199,643.03, down from CNY 118,863,607.65 at the end of Q1 2023[26]. - The company reported a net cash outflow from investing activities of CNY -40,891,170.06 in Q1 2024, compared to CNY -30,449,550.44 in Q1 2023[19]. - The net cash flow from investment activities was -CNY 19,363,916.02, an improvement from -CNY 36,149,719.80 in Q1 2023[26]. Assets and Liabilities - The total assets at the end of the reporting period were ¥849,825,584.72, an increase of 1.30% from the end of the previous year[4]. - The equity attributable to shareholders increased by 1.64% to ¥739,219,857.67 compared to the end of the previous year[4]. - Total liabilities as of Q1 2024 were ¥110,605,727.05, a slight decrease from ¥111,624,229.15 in Q1 2023[12]. - The total current liabilities decreased to RMB 102,000,000.00 from RMB 109,000,000.00, reflecting a reduction of about 6.4%[11]. - The total assets as of March 31, 2024, were CNY 814,312,516.72, an increase from CNY 803,050,291.31 at the end of 2023[20]. - The total liabilities as of March 31, 2024, were CNY 41,090,046.74, slightly up from CNY 41,017,199.07 at the end of 2023[20]. Research and Development - Research and development expenses totaled ¥8,909,671.75, an increase of 33.75% year-on-year, accounting for 10.80% of operating revenue, up 4.05 percentage points[4][6]. - Research and development expenses increased to ¥8,909,671.75 in Q1 2024, up 33.8% from ¥6,661,330.30 in Q1 2023[14]. - R&D expenses increased to CNY 3,721,098.09 in Q1 2024, up from CNY 3,086,799.05 in Q1 2023, reflecting the company's commitment to innovation[22]. Operational Efficiency - The gross profit margin for Q1 2024 was approximately 45.5%, down from 36.4% in Q1 2023, indicating improved cost management despite lower sales[22]. - The company reported a decrease in sales expenses to ¥8,310,384.21 in Q1 2024, compared to ¥4,333,716.90 in Q1 2023[14]. - The cash flow from operating activities was impacted by a significant drop in cash received from other operating activities, which fell to CNY 215,381.69 from CNY 22,777,379.76 year-over-year[25]. Other Observations - The company has not disclosed any new product developments or market expansion strategies in the current report[10]. - The company's short-term borrowings were not specified, indicating a potential focus on maintaining liquidity[11]. - The company has not yet adopted new accounting standards, as indicated in the report[26].