C*Core Technology(SH:688262)2024-04-26 10:17Financial Performance - The company's operating revenue for Q1 2023 was ¥163,570,840.37, representing a year-on-year increase of 228.42%[5] - The net profit attributable to shareholders was a loss of ¥25,000,535.71, a decrease of 8,233.88% compared to the same period last year[5] - The company's operating revenue for Q1 2023 reached RMB 163,570,840.37, a significant increase of 228.42% compared to RMB 49,806,002.11 in Q1 2022[25] - The company reported a net loss of -$23,902,912.66 for the period, compared to a profit of $2,324,767.78 in the same quarter last year, indicating a significant downturn in profitability[46] - The company's net profit for Q1 2023 was a loss of ¥23,902,912.66, compared to a profit of ¥2,324,767.78 in Q1 2022, indicating a significant decline in profitability[67] Research and Development - The total R&D investment amounted to ¥52,353,434.43, reflecting a significant increase of 136.02% year-on-year[5] - The net profit attributable to shareholders of the listed company was RMB -8,233,880, primarily due to a 136.02% increase in R&D expenses, amounting to RMB 52,353,434.43[25][35] - The company's R&D expenses surged to ¥38,579,650.31 in Q1 2023, compared to ¥15,261,223.40 in Q1 2022, representing an increase of approximately 153%[67] Cash Flow and Liquidity - The net cash flow from operating activities was a negative ¥129,828,080.12, primarily due to increased operational expenditures[5] - The company's cash flow from operating activities showed a significant decline, reflecting challenges in maintaining liquidity[60] - The cash outflow from operating activities was ¥294,276,415.23 in Q1 2023, compared to ¥137,897,076.66 in Q1 2022, showing an increase of approximately 113%[70] - The company's cash and cash equivalents stood at RMB 806,914,957.49 as of March 31, 2023, compared to RMB 1,214,524,614.03 at the end of 2022[32] - The total cash and cash equivalents at the end of the period were $806,914,957.49, down from $1,265,553,375.07 a year earlier, reflecting liquidity challenges[40] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,204,475,736.49, an increase of 4.26% from the end of the previous year[6] - The total liabilities increased to ¥442,434,974.60 in Q1 2023, up from ¥254,462,736.24 in the previous year, indicating a significant rise in financial obligations[57] - The total current liabilities reached ¥413,068,274.93, significantly higher than ¥231,742,021.44 in the previous year[57] - The total owner's equity decreased to ¥2,728,606,968.38 in Q1 2023 from ¥2,784,508,817.56 in Q1 2022, reflecting a decline of about 2%[67] Revenue Sources - Revenue from self-developed chips and modules reached RMB 36,303,900 and RMB 118,885,600, with growth rates of 32.67% and 557.24% respectively[25] - The company experienced a significant increase in revenue from automotive electronics and industrial control applications, generating RMB 31,346,300, a year-on-year growth of 224.74%[25] - The company reported a total cost of operating revenue of RMB 200,758,300.66, up from RMB 64,899,498.67 in the same period last year[35] Shareholder Information - The basic and diluted earnings per share were both -¥0.07, reflecting a significant decline in profitability[5] - Basic and diluted earnings per share were both -$0.11, a decrease from $0.0013 per share in the previous year, highlighting a decline in shareholder value[46] - The total number of ordinary shareholders at the end of the reporting period was 14,999[27] Government Support - The company received government subsidies amounting to RMB 6,646,847.45 during the reporting period[32] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters to improve financial performance[60]