飞凯材料(300398) - 2023 Q1 - 季度财报(更正)

Financial Performance - The company's revenue for Q1 2023 was ¥594,157,918.54, a decrease of 31.10% compared to ¥862,361,400.73 in the same period last year[4] - Net profit attributable to shareholders was ¥72,212,645.69, down 46.73% from ¥138,763,627.91 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥65,836,409.42, a decline of 54.51% compared to ¥148,014,429.72 in the previous year[4] - Basic earnings per share decreased by 46.15% to ¥0.14 from ¥0.27 year-on-year[5] - The company reported a net profit margin of approximately 2.0% for Q1 2023, compared to 3.0% in Q1 2022[32] - The net profit for Q1 2023 was CNY 75,961,914.20, a decrease of 44.4% compared to CNY 136,776,573.84 in Q1 2022[33] - The company reported a total comprehensive income of CNY 61,412,775.12, significantly lower than CNY 134,950,177.81 in Q1 2022[34] Cash Flow and Liquidity - The net cash flow from operating activities was -¥124,769,378.66, representing a significant decrease of 331.24% from -¥28,932,390.17 in the same period last year[4] - Cash and cash equivalents at the end of Q1 2023 were CNY 1,092.04 million, a decrease of 15.4% from CNY 1,291.21 million at the beginning of the year[28] - The cash received from investment activities increased by 56.12% to 212,325,829.29, mainly due to the redemption of bank wealth management products[13] - The cash paid for investments surged by 558.66% to 43,864,000.00, primarily due to new investments made during the reporting period[13] - The cash flow from operating activities showed a net outflow of CNY 124,769,378.66, compared to a smaller outflow of CNY 28,932,390.17 in the same period last year[35] - The company incurred a foreign exchange loss of CNY 2,513,446.92 during the quarter[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,232,162,373.82, a decrease of 1.19% from ¥6,314,013,135.15 at the end of the previous year[5] - Total liabilities decreased to CNY 2,356.94 million, down 5.3% from CNY 2,488.21 million at the beginning of the year[30] - Accounts receivable increased to CNY 819.43 million, up 4.9% from CNY 781.22 million at the beginning of the year[28] - Inventory at the end of Q1 2023 was CNY 752.28 million, an increase of 1.9% from CNY 740.78 million at the beginning of the year[28] Investment and Financing Activities - The company plans to issue convertible bonds totaling up to RMB 825 million to enhance capital strength and profitability[20] - The company has received approval from the China Securities Regulatory Commission for the issuance of convertible bonds[21] - The company plans to apply for a comprehensive credit limit of up to RMB 3.3 billion from financial institutions to support its operational and business development needs[25] - The company approved a loan of up to RMB 36 million to its subsidiary, Kunshan Xingkai Semiconductor Materials Co., Ltd., to support its operational funding needs[25] Regulatory and Governance - The company is undergoing a restructuring process in response to regulatory measures from the China Securities Regulatory Commission[6] - The company has implemented changes in accounting policies affecting the financial statements, leading to restatements of previous financial data[5] - The company has been actively working with intermediaries to address the feedback from regulatory bodies regarding the bond issuance[20] - The company completed the election of its fifth board of directors and supervisory board, ensuring continuity in governance and management[25] Operational Changes and Future Plans - The company plans to focus on expanding its market presence and investing in new product development in the upcoming quarters[32] - The company has changed the project from an annual production of 500 kg OLED display materials to an annual production of 15 tons of OLED terminal display materials purification project[21] - The company approved a change in the use of raised funds to fully allocate them to the construction of a new liquid crystal materials mixing and R&D center project with an annual capacity of 280 tons[23]