TOREAD(300005)2023-04-26 16:00Revenue and Profit Growth - Revenue for Q1 2023 increased by 14.63% to RMB 242.51 million compared to the same period last year[5] - Operating revenue rose to 242,508,020.16 yuan, up 14.63% compared to the previous year's 211,555,774.75 yuan[18] - Net profit attributable to shareholders surged by 123.97% to RMB 18.41 million in Q1 2023[5] - Net profit attributable to the parent company's owners reached 18,413,401.31 yuan, marking a significant increase from the previous year's 8,221,239.12 yuan[20] - Operating profit surged to 15,517,965.81 yuan, more than double the previous year's 7,524,663.82 yuan[20] - Comprehensive income totaled 13,907,446.60 yuan, up 82.01% from 7,641,119.32 yuan[20] - Basic and diluted earnings per share were RMB 0.0208, up from RMB 0.0093 in the same period last year[21] Cash Flow and Financial Performance - Operating cash flow turned positive, reaching RMB 17.18 million, a 146.02% improvement from the negative RMB 37.33 million in Q1 2022[5] - Net cash flow from operating activities increased to RMB 17.18 million, compared to a negative RMB 37.33 million in the same period last year[21] - Sales revenue from goods and services reached RMB 372.81 million, a significant increase from RMB 249.08 million in the previous year[21] - Cash received from customers and other operating activities totaled RMB 388.51 million, up from RMB 261.04 million year-over-year[21] - Cash paid for goods and services increased to RMB 238.19 million, compared to RMB 164.27 million in the prior year[21] - Net cash flow from investing activities was negative RMB 214.79 million, an improvement from negative RMB 297.42 million in the same period last year[23] - Cash outflow for investments was RMB 214.21 million, up from RMB 148.40 million in the previous year[23] - Cash outflow for acquiring subsidiaries and other business units was RMB 196.22 million in the previous year, with no such activity reported this year[23] - Net cash flow from financing activities was negative RMB 24.58 million, compared to negative RMB 11.95 million in the same period last year[23] - The company's cash and cash equivalents at the end of the period stood at RMB 518.44 million, down from RMB 740.68 million at the beginning of the period[23] R&D and Government Subsidies - R&D expenses increased by 44.55% to RMB 10.60 million due to expanded consolidated reporting scope[9] - Research and development expenses increased to 10,603,053.58 yuan, up 44.54% from 7,335,395.51 yuan[18] - Government subsidies received in Q1 2023 rose significantly to RMB 2.39 million, up 1816.08% year-over-year[9] Assets and Liabilities - Total assets decreased by 3.63% to RMB 2.54 billion as of March 31, 2023[5] - Total current assets as of March 31, 2023, amounted to 1,896,416,962.01 RMB, a decrease from 1,983,683,483.00 RMB at the beginning of the year[15] - Monetary funds decreased to 519,061,846.01 RMB from 844,765,091.01 RMB at the start of the year[15] - Trading financial assets increased significantly to 646,752,426.81 RMB from 338,802,272.67 RMB[15] - Accounts receivable decreased to 264,397,435.77 RMB from 374,413,800.60 RMB[15] - Inventory increased to 397,797,368.66 RMB from 351,124,905.40 RMB[15] - Long-term equity investments rose to 50,243,524.70 RMB from 39,277,276.15 RMB[15] - Other receivables slightly decreased to 31,883,160.71 RMB from 32,989,128.60 RMB[15] - Prepayments decreased to 8,456,230.91 RMB from 10,697,290.90 RMB[15] - Other current assets slightly decreased to 23,987,115.82 RMB from 24,309,616.50 RMB[15] - Total assets increased to 2,635,979,000.13 yuan from 2,540,214,244.37 yuan, reflecting a growth of 3.77%[16] - Total liabilities grew to 551,642,141.49 yuan, up 20.24% from 458,773,989.63 yuan[16] - Total equity increased slightly to 2,084,336,858.64 yuan from 2,081,440,254.74 yuan[17] Shareholder and Treasury Stock - Share repurchases led to a 50.58% increase in treasury stock to RMB 50.02 million[9] - The number of ordinary shareholders stood at 21,709 as of the end of Q1 2023[10] Financial Expenses and Income - Financial expenses decreased by 210.23% to negative RMB 3.92 million due to increased deposit interest[9] - Financial income improved to -3,921,317.91 yuan, a better performance compared to -1,263,986.47 yuan in the previous year[18] Acquisitions and Investments - The company plans to acquire 72.79% of G2 Touch Co., LTD. for $38.52 million, and an additional 22.22% stake in April 2023, bringing the total ownership to 95.01%[13] Sales and Operating Expenses - Sales expenses rose to 69,625,443.21 yuan, up 4.72% from 66,483,405.82 yuan[18] Return on Equity - The company's weighted average ROE improved by 0.50 percentage points to 0.88% in Q1 2023[5]