SHANGHAI YIZHONG(SH:688091)2024-04-29 10:25Financial Performance - The company's operating revenue for Q1 2024 was CNY 68,702,991.41, representing a decrease of 25.65% compared to the same period last year[27]. - The net profit attributable to shareholders for Q1 2024 was CNY 29,178,031.68, down 46.97% year-on-year[27]. - Basic and diluted earnings per share for Q1 2024 were both CNY 0.18, reflecting a decline of 52.63% year-on-year[27]. - The net profit for Q1 2024 was CNY 29,178,031.68, a decrease of 47% compared to CNY 55,025,022.44 in Q1 2023[48]. - Total operating revenue for Q1 2024 was ¥68,702,991.41, a decrease from ¥92,399,635.15 in Q1 2023, representing a decline of approximately 25.7%[61]. Cash Flow and Investments - The net cash flow from operating activities for Q1 2024 was CNY 28,877,820.51, a decrease of 3.21% compared to the previous year[27]. - The company reported cash inflows from investment activities totaling CNY 327,424,747.27, with cash outflows of CNY 311,815,478.90, resulting in a net cash flow from investment activities of CNY 15,609,268.37[21]. - The cash and cash equivalents at the end of Q1 2024 amounted to CNY 963,178,159.26, an increase from CNY 758,691,049.55 at the end of Q1 2023[21]. - Cash and cash equivalents amounted to ¥974,245,738.25, an increase from ¥914,763,371.24 at the end of the previous year[43]. Research and Development - Research and development expenses increased significantly as the company intensified its efforts in product promotion and development, impacting overall profitability[15]. - Total R&D investment reached ¥5,595,803.86, representing an increase of 114.99% year-over-year[36]. - R&D investment accounted for 8.14% of operating revenue, up by 5.32 percentage points from the previous year[36]. - R&D expenses rose to CNY 5,595,803.86, up from CNY 2,602,773.90, primarily due to increased clinical research for new indications of paclitaxel[55]. Assets and Liabilities - The total assets of the company as of Q1 2024 were CNY 1,615,717,426.60, compared to CNY 1,573,359,475.20 in the previous year[20]. - The company’s total liabilities increased to CNY 112,467,670.48 from CNY 103,983,754.93 year-on-year[20]. - The total liabilities increased to CNY 116,809,890.76 from CNY 108,522,872.33, indicating a growth in financial obligations[47]. - The total equity attributable to shareholders reached CNY 1,498,907,535.84, up from CNY 1,464,836,602.87, showing a positive trend in shareholder equity[47]. - Deferred income tax liabilities decreased slightly to CNY 2,987,582.53 from CNY 3,069,450.00, indicating a minor improvement in tax obligations[47]. Sales and Market Strategy - The company experienced a significant decline in sales volume of its core product, paclitaxel micelles, due to policy impacts affecting core customers[15]. - The company is focusing on expanding its product promotion efforts nationwide despite challenges in hospital access for core products[39]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[55]. Operating Costs - Total operating costs increased to CNY 36,997,180.69 from CNY 26,736,137.15, reflecting a significant rise in sales expenses[47]. Other Income - Other income for the period included government subsidies amounting to CNY 361,654.21, contributing positively to the financial results[53].