Sinotherapeutics (SH:688247)2024-04-29 08:48Financial Performance - The company's operating revenue for Q1 2024 reached ¥111,411,602.18, representing a year-on-year increase of 162.65%[5] - Net profit attributable to shareholders was ¥22,895,905.48, reflecting a significant growth of 196.71% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥21,748,197.24, showing an increase of 304.66% year-on-year[5] - Basic and diluted earnings per share were both ¥0.05, marking a rise of 196.98%[6] - Total operating revenue for Q1 2024 reached ¥111,411,602.18, a significant increase from ¥42,418,265.20 in Q1 2023, representing a growth of 162.5%[22] - Net profit for Q1 2024 was ¥22,895,905.48, up from ¥7,716,721.48 in Q1 2023, marking a growth of 196.5%[23] - The total comprehensive income for the first quarter of 2024 was CNY 22,895,798.14, compared to CNY 7,692,372.68 in the same period of 2023, representing a significant increase[24] - Basic and diluted earnings per share for the first quarter of 2024 were both CNY 0.05, up from CNY 0.02 in the first quarter of 2023, indicating a 150% increase[24] Cash Flow and Liquidity - Cash flow from operating activities amounted to ¥28,776,793.07, an increase of 54.83% due to higher sales revenue[6] - Cash inflows from operating activities totaled CNY 125,100,720.40 in Q1 2024, compared to CNY 68,822,064.13 in Q1 2023, reflecting an increase of approximately 82%[26] - The net cash flow from operating activities was CNY 28,776,793.07 for Q1 2024, compared to CNY 18,585,769.41 in Q1 2023, marking an increase of about 55%[26] - Cash and cash equivalents as of March 31, 2024, amounted to ¥229,422,987.49, a significant decrease from ¥641,783,808.70 as of December 31, 2023[18] - Cash and cash equivalents decreased from ¥127,121,199.56 to ¥10,842,778.87, indicating a significant reduction in liquidity[20] - Cash and cash equivalents at the end of Q1 2024 were CNY 229,422,987.49, down from CNY 449,794,012.15 at the end of Q1 2023, a decrease of approximately 49%[27] Research and Development - Total R&D investment for the quarter was ¥15,454,452.53, which is 41.98% higher than the previous year[6] - Research and development expenses in Q1 2024 amounted to ¥15,454,452.53, compared to ¥10,885,029.09 in Q1 2023, indicating a rise of 42.0%[22] - R&D investment as a percentage of operating revenue decreased by 11.79 percentage points to 13.87% due to significant revenue growth[6] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,353,289,225.61, a slight decrease of 0.61% from the end of the previous year[6] - The company's total assets as of Q1 2024 were ¥1,353,289,225.61, slightly down from ¥1,361,620,252.55 in the previous year[21] - Total liabilities for Q1 2024 were ¥152,469,034.47, compared to ¥151,361,317.13 in Q1 2023, showing a marginal increase of 0.7%[20] - The company's equity attributable to shareholders was ¥1,200,820,191.14, down from ¥1,210,258,935.42 in the previous year, a decrease of 0.4%[21] Shareholder Information - The company has not reported any changes in the top 10 shareholders or the top 10 unrestricted shareholders due to the transfer and lending of shares[16] - The company has maintained a consistent shareholder structure with significant stakes held by major investment partnerships[12] Product Development and Strategy - The newly approved product, Mesalazine enteric-coated sustained-release tablets, received regulatory approval for treating mild to moderate active ulcerative colitis[16] - The company’s strategic focus includes expanding its product offerings and enhancing market presence through new product approvals[16] Other Financial Metrics - The company reported non-recurring gains of ¥1,147,708.24 for the quarter, primarily from asset disposals and government subsidies[7] - The company experienced a credit impairment loss of ¥398,975.62 in Q1 2024, compared to a gain of ¥1,619,789.58 in Q1 2023, indicating a negative shift in credit quality[23] - The company reported a significant increase in contract liabilities, rising to ¥53,319,684.31 from ¥47,610,636.97, an increase of 15.0%[20] - The company received CNY 4,630,030.77 in tax refunds during Q1 2024, a significant increase from CNY 59,190.97 in Q1 2023[26] - The company reported cash received from sales of goods and services of CNY 114,516,373.33 in Q1 2024, compared to CNY 67,128,917.11 in Q1 2023, representing an increase of about 70%[25] - The company paid CNY 55,512,698.36 for goods and services in Q1 2024, compared to CNY 16,150,292.00 in Q1 2023, indicating a substantial increase of approximately 244%[26]