Yorhe(002795)2023-04-28 16:00Financial Performance - The company's revenue for Q1 2023 was ¥240,508,189.75, a decrease of 3.81% compared to ¥250,022,104.21 in the same period last year[5] - The net profit attributable to shareholders was a loss of ¥15,761,930.05, representing a decline of 226.32% from a profit of ¥12,478,199.47 in the previous year[5] - The net profit for the first quarter of 2023 was -¥19,511,612.42, a significant decline compared to a net profit of ¥10,909,591.98 in the same period last year, representing a year-over-year decrease of approximately 278%[28] - The total revenue from operating activities was ¥204,533,780.17, down from ¥280,781,176.65 in the previous year, indicating a decrease of about 27%[29] - The total profit before tax was -¥17,597,176.53, a sharp decline from ¥16,069,608.62 in the same quarter last year[28] - Basic and diluted earnings per share were both -¥0.05, down from ¥0.04 in the previous year[29] - The company reported a total comprehensive income of -¥19,587,537.53 for the first quarter, compared to ¥10,876,464.25 in the same quarter of the previous year[28] Cash Flow and Financing - The net cash flow from operating activities was -¥55,885,814.43, a decrease of 182.18% compared to ¥68,005,318.04 in the same period last year[13] - The cash flow from financing activities increased by 78.52% to ¥186,142,548.43, driven by increased investments and loans received[13] - The financing activities generated a net cash inflow of ¥186,142,548.43, compared to ¥104,270,079.64 in the previous year, indicating a year-over-year increase of approximately 78.5%[30] - The company experienced a significant increase in investment cash outflow, totaling -¥138,195,439.32 compared to -¥20,697,964.31 in the same period last year[30] Assets and Liabilities - Total assets increased by 8.11% to ¥1,674,250,251.56 from ¥1,548,725,920.03 at the end of the previous year[5] - The total current asset balance was CNY 679,619,915.80, up from CNY 671,462,543.99 at the beginning of the year[24] - The total non-current assets increased to CNY 994,630,335.76 from CNY 877,263,376.04 at the beginning of the year[24] - Total liabilities amounted to CNY 768,696,273.90, an increase from CNY 725,723,536.23 at the beginning of the year[25] - The company's total assets reached CNY 1,674,250,251.56, up from CNY 1,548,725,920.03 at the beginning of the year[25] - Short-term borrowings rose to CNY 247,442,224.34 from CNY 186,396,068.72 at the beginning of the year[24] Expenses - The company reported a significant increase in management expenses, which rose by 99.70% to ¥43,771,079.78 due to stock incentive costs and increased service fees[12] - Research and development expenses increased by 35.89% to ¥7,418,146.32, indicating a focus on innovation[12] - Total operating costs increased to CNY 255,730,836.66, up 12.19% from CNY 227,957,935.87 in the previous period[27] - Research and development expenses rose to CNY 7,418,146.32, an increase of 35.83% compared to CNY 5,459,065.78 in the previous period[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 19,131[14] - The largest shareholder, Cao Deli, holds 14.95% of the shares, totaling 47,600,000 shares, with 25,592,000 shares pledged[14] - The second-largest shareholder, Chen Xianyun, holds 7.34% of the shares, totaling 23,369,360 shares[14] Corporate Governance - The company completed the election of the fifth board of directors and the fifth supervisory board, appointing Wei Pu as the chairman[16] - The company approved the cancellation of 770,000 stock options from the 2019 stock option incentive plan that were not exercised by two departed employees[17] - The company decided to repurchase and cancel 16,800 restricted stocks from the 2022 incentive plan that were not unlocked for two departed employees[18] Acquisitions - The company’s wholly-owned subsidiary, Zhejiang Yonghe Intelligent Control Technology Co., Ltd., acquired assets from Zhiba Technology for RMB 33.9 million, including production equipment and corresponding intellectual property[20] - The acquisition has been completed, including asset inventory and payment as per the agreement[21] Other Income - The company reported a decrease in other income, which was ¥721,311.58 compared to ¥272,236.07 in the previous year, a decline of about 64%[28]