Jiangsu (SH:688426)2024-04-29 08:34Financial Performance - The company's operating revenue for Q1 2024 was ¥28,803,048.98, representing a decrease of 62.57% compared to the same period last year[3] - The net profit attributable to shareholders was -¥28,966,869.70, reflecting a significant decline of 826.09% year-over-year[3] - The net cash flow from operating activities was -¥29,477,526.22, a decrease of 219.51% compared to the previous year[3] - Net loss for Q1 2024 was ¥29,729,571.97, compared to a net profit of ¥9,503,471.20 in Q1 2023, indicating a significant decline in profitability[17] - The company's operating profit for Q1 2024 was -¥31,194,936.08, contrasting with an operating profit of ¥16,468,797.71 in Q1 2023[16] - The company reported a total comprehensive loss of ¥29,728,998.99 for Q1 2024, compared to a comprehensive income of ¥9,182,584.26 in Q1 2023[17] Research and Development - Research and development expenses totaled ¥22,301,183.25, accounting for 77.43% of operating revenue, an increase of 52.68 percentage points year-over-year[4] - Research and development expenses increased to ¥22,301,183.25 in Q1 2024, up from ¥19,039,632.01 in Q1 2023, reflecting a 11.9% increase[16] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,772,178,831.24, down 2.75% from the end of the previous year[4] - The company's total assets amounted to RMB 1,772,178,831.24, a decrease from RMB 1,822,219,129.55 as of December 31, 2023, reflecting a decline of approximately 2.6%[12] - The total current assets decreased to RMB 1,047,900,763.42 from RMB 1,084,680,052.08, indicating a decline of about 3.4%[12] - The company's non-current assets totaled RMB 724,278,067.82, down from RMB 737,539,077.47, a decrease of about 1.8%[13] - Total liabilities decreased to ¥127,086,939.89 in Q1 2024 from ¥142,665,153.30 in Q1 2023, a reduction of approximately 10.9%[16] - The company's total liabilities were not explicitly stated, but current liabilities showed a significant reduction in accounts payable and employee compensation[13] Cash Flow - The cash flow statement for Q1 2024 indicates ongoing financial challenges, with significant outflows impacting liquidity[18] - In Q1 2024, the company's cash inflow from operating activities totaled $32,166,456.80, a decrease of 51.7% compared to $66,528,597.93 in Q1 2023[20] - The net cash outflow from operating activities was $29,477,526.22, worsening from a net outflow of $9,225,991.59 in the same quarter last year[20] - Cash inflow from investment activities was $296,028,946.12, down 45.4% from $542,802,500.88 in Q1 2023[22] - The net cash flow from investment activities improved significantly to $227,558,712.64, compared to a net outflow of $616,187,906.61 in Q1 2023[22] - Cash inflow from financing activities was $3,058,488.36, a decrease of 49.1% from $6,000,000.00 in Q1 2023[22] - The net cash outflow from financing activities was $9,375,489.11, contrasting with a net inflow of $4,962,822.52 in the same quarter last year[22] - The company's cash and cash equivalents at the end of Q1 2024 stood at $537,027,134.86, an increase from $410,812,747.09 at the end of Q1 2023[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 3,817[9] - Total equity attributable to shareholders was ¥1,629,973,722.10 in Q1 2024, down from ¥1,663,673,677.71 in Q1 2023, a decrease of about 2.0%[16] Revenue Decline Factors - The decline in revenue was primarily due to a slowdown in demand in the molecular testing industry, leading to decreased sales across various products[7]