Medicilon(SH:688202)2024-04-28 07:51Financial Performance - In Q1 2024, the company's operating revenue decreased by 42.51% compared to the previous period, primarily due to intensified competition in the pharmaceutical industry, leading to lower order prices and delays in order execution [14]. - The net profit attributable to shareholders of the listed company fell by 136.98% in Q1 2024, significantly impacted by the decline in revenue [14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 140.77% in Q1 2024, also primarily due to the drop in revenue [14]. - The company reported a comprehensive loss of ¥37,430,250.14 for the current period, contrasting with a comprehensive income of ¥101,414,263.08 in the same period last year [29]. - Basic and diluted earnings per share were both reported at -¥0.28, down from ¥0.84 in the previous year [29]. - The company's operating revenue for the reporting period was approximately ¥259.51 million, representing a decrease of 42.51% compared to the same period last year [36]. - The net profit attributable to shareholders of the listed company was approximately -¥37.56 million, a decline of 136.98% year-over-year [36]. - Net profit for Q1 2024 was a loss of CNY 37,555,731.42, compared to a profit of CNY 101,568,576.29 in Q1 2023, indicating a significant decline [55]. Cash Flow and Liquidity - The cash and cash equivalents as of March 31, 2024, were 311,034,580.34 RMB, down from 471,870,185.67 RMB at the end of 2023 [22]. - Cash flow from operating activities showed a net outflow of ¥58,554,399.06 compared to a net outflow of ¥17,443,008.18 in the previous year, indicating a worsening cash flow situation [30]. - The company's cash flow from operating activities was significantly impacted, with total cash outflows reaching ¥293,693,017.79 compared to ¥313,794,044.52 in the previous year [30]. - The net cash flow from operating activities was -¥58.55 million, indicating a significant decrease [37]. - The net increase in cash and cash equivalents was -¥160.84 million, compared to -¥53.51 million in the same period last year [37]. - The ending balance of cash and cash equivalents was approximately ¥310.53 million, down from ¥471.37 million at the beginning of the period [37]. - The company experienced a net cash outflow from financing activities of approximately -¥45.29 million, contrasting with a net inflow of ¥53.44 million in the previous year [37]. Assets and Liabilities - Total current assets decreased to ¥1,701,960,383.17 from ¥1,876,189,651.05, a decline of approximately 9.3% year-over-year [24]. - Total assets at the end of the reporting period were approximately ¥3.11 billion, a decrease of 4.62% from the previous year [37]. - Total liabilities decreased to CNY 656,483,576.12 from CNY 755,068,116.91, representing a decline of about 13.1% [48]. - Non-current assets totaled CNY 1,412,955,721.47, slightly up from CNY 1,389,657,829.49, an increase of 1.7% [48]. - The total non-current assets were reported at ¥1,000,000,000.00, with fixed assets valued at ¥660,680,905.37, down from ¥673,328,661.73 [24]. Research and Development - Research and development expenses totaled approximately ¥24.85 million, down by 12.42% year-over-year, while R&D expenses accounted for 9.57% of operating revenue, an increase of 3.29 percentage points [37]. - Research and development expenses for Q1 2024 were CNY 24,845,984.25, down from CNY 28,370,481.60 in Q1 2023, a decrease of 12.0% [55]. Government Support and Other Income - Government subsidies recognized in the current period amounted to 2,707,884.36 RMB, which are closely related to the company's normal business operations [6]. - The company reported a non-recurring gain of 2,678,490.04 RMB in Q1 2024, after accounting for tax effects [7]. - The fair value changes of financial assets and liabilities held by the company resulted in a gain of 472,183.08 RMB in Q1 2024 [6]. - The company did not identify any significant non-recurring gains or losses not listed in the relevant disclosure guidelines [14]. Market Strategy and Future Outlook - The company is focused on addressing the challenges posed by market competition and is exploring strategies for future growth and recovery [14]. - The company has not provided specific guidance for future performance or new product developments in the current report [50].