SPAS(SH:603168)2024-04-29 07:56Financial Performance - The company's operating revenue for Q1 2024 was ¥137,834,311.82, representing a decrease of 15.02% compared to the same period last year[5] - The net profit attributable to shareholders was ¥4,296,554.68, down 80.93% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,359,272.81, a decline of 82.06% compared to the previous year[5] - Basic earnings per share were ¥0.01, reflecting an 81.26% decrease year-on-year[5] - Diluted earnings per share were also ¥0.01, showing an 81.26% decline compared to the same period last year[5] - Operating profit for Q1 2024 was ¥6,017,149.72, down 80.8% from ¥31,393,451.39 in Q1 2023[28] - Net profit for Q1 2024 was ¥5,841,122.94, a decline of 80.0% compared to ¥29,162,648.05 in Q1 2023[28] - The total comprehensive income attributable to the parent company in Q1 2024 was CNY 4,296,554.68, a decrease of 81.0% from CNY 22,525,376.46 in Q1 2023[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,160,872,830.50, a decrease of 0.43% from the end of the previous year[6] - Total current assets as of March 31, 2024, amounted to ¥372,219,521.36, while total non-current assets were ¥1,788,653,309.14[23] - Total liabilities as of March 31, 2024, were ¥423,291,925.82, a slight decrease from ¥440,922,801.81 as of December 31, 2023[24] - Total equity attributable to shareholders was ¥1,727,934,501.88 as of March 31, 2024, compared to ¥1,719,676,896.42 at the end of 2023[24] - Cash and cash equivalents increased to ¥355,666,708.76 as of March 31, 2024, from ¥197,280,025.81 at the end of 2023[22] - Inventory as of March 31, 2024, was ¥78,818,326.41, up from ¥84,322,671.95 at the end of 2023[22] Shareholder Information - As of March 31, 2024, the total number of shares increased from 372,514,005 to 379,161,625 due to the stock incentive plan, with 6.54762 million restricted shares granted to 96 individuals[19] - The company’s major shareholders include Shanghai Yanghe Industrial Co., Ltd. holding 20.64% and Chen Dekang holding 12.39% of the shares[14] - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[14] - The company has not identified any other related party relationships among shareholders beyond those disclosed[14] Incentive Plans and R&D - The stock option and restricted stock incentive plan was approved by the board on July 13, 2023, and the first grant was publicly announced on August 3, 2023[16] - The company completed the registration of the first grant of restricted stocks on October 17, 2023, with a total of 654,762 shares granted[19] - The stock incentive plan includes a grant price of 4.20 RMB per share for the restricted stocks awarded on October 27, 2023[20] - The company’s total share capital increased as a result of the stock incentive plan, reflecting its commitment to employee motivation and retention[19] - Research and development expenses increased to ¥12,128,021.79 in Q1 2024, compared to ¥10,201,993.58 in Q1 2023, reflecting a growth of 18.9%[28] Operational Insights - The decline in net profit was primarily attributed to decreased sales of eye drops and cephalosporins compared to the same period last year[10] - The company is actively advancing the consistency evaluation of Benzalkonium Chloride Eye Drops, with all subjects completing the trial by September 2023[15] - The company is committed to ensuring the quality and efficacy of its products, particularly the Benzalkonium Chloride Eye Drops, in compliance with regulatory requirements[15] - The company has not reported any new product launches or significant technological advancements during this quarter[29] - There were no mergers or acquisitions reported in the first quarter of 2024[29] Cash Flow - The company reported a net cash flow from operating activities of ¥5,271,978.33, with no applicable percentage change due to the nature of the data[5] - The operating cash flow for Q1 2024 was CNY 5,271,978.33, recovering from a negative cash flow of CNY -7,024,659.27 in Q1 2023[32] - The company experienced a net cash outflow of CNY 158,386,682.95 in Q1 2024, compared to a net outflow of CNY 84,818,177.53 in Q1 2023[33] - The cash and cash equivalents at the end of Q1 2024 were CNY 197,280,025.81, down from CNY 440,240,971.36 at the end of Q1 2023[33] - The company reported a significant increase in cash outflow for investment activities, totaling CNY 202,336,008.94 in Q1 2024, compared to CNY 100,837,481.55 in Q1 2023[33]