TANAC(300461)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥54,462,395.74, representing a 59.42% increase compared to ¥34,162,975.66 in the same period last year[3] - Net profit attributable to shareholders was ¥2,199,895.30, a significant turnaround from a loss of ¥10,982,898.03 in the previous year, marking a 120.03% increase[3] - Basic earnings per share improved to ¥0.01 from -¥0.09, reflecting an increase of 111.11%[3] - Total operating revenue for Q1 2023 was CNY 54,462,395.74, an increase of 59.5% compared to CNY 34,162,975.66 in the same period last year[21] - The net profit for the first quarter of 2023 was 213,304.44 CNY, a significant improvement compared to a net loss of 10,982,898.03 CNY in the same period last year[22] - The total comprehensive income for the first quarter was 111,942.09 CNY, compared to a total comprehensive loss of 11,432,727.59 CNY in the previous year[23] - The basic and diluted earnings per share were both 0.01 CNY, recovering from a loss of 0.09 CNY per share in the prior year[23] Cash Flow - The net cash flow from operating activities was -¥37,701,335.95, a drastic decline of 16,043.85% compared to -¥233,533.72 in the previous year[3] - The net cash flow from investing activities was -¥22,240,123.52, a 76.15% increase in outflows compared to -¥12,625,577.55 in the previous year[7] - The company experienced a 498.81% decrease in net increase in cash and cash equivalents, totaling -¥64,987,400.90 compared to an increase of ¥16,295,412.23 in the same period last year[7] - Cash flow from operating activities showed a net outflow of 37,701,335.95 CNY, worsening from a net outflow of 233,533.72 CNY in the previous year[24] - Cash flow from investing activities resulted in a net outflow of 22,240,123.52 CNY, compared to a net outflow of 12,625,577.55 CNY last year[25] - Cash flow from financing activities had a net outflow of 5,059,040.82 CNY, contrasting with a net inflow of 29,357,338.32 CNY in the same period last year[25] - The total cash and cash equivalents at the end of the period were 334,291,755.30 CNY, down from 399,279,156.20 CNY at the beginning of the period[25] - The company reported a decrease in cash received from sales of goods and services, totaling 56,460,576.82 CNY, compared to 64,740,053.41 CNY in the previous year[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥900,341,857.75, down 3.24% from ¥930,470,083.92 at the end of the previous year[3] - The company's total assets decreased to CNY 900,341,857.75 from CNY 930,470,083.92 at the beginning of the year, reflecting a decline of 3.7%[19] - Total liabilities decreased to CNY 233,588,520.01 from CNY 263,828,688.27, a reduction of 11.5%[19] - The company's cash and cash equivalents decreased to CNY 344,183,876.30 from CNY 412,644,784.28, a decline of 16.6%[18] - Inventory increased to CNY 156,175,469.38, up 9.3% from CNY 142,518,059.47 at the beginning of the year[18] - The total equity attributable to shareholders increased slightly to CNY 666,192,501.02 from CNY 664,093,968.07, a growth of 0.3%[19] - The company reported a net loss of CNY 183,475,869.52, slightly improved from a loss of CNY 185,675,764.82 in the previous period[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 9,012[9] - The largest shareholder, Shanghai Feiji Investment Management Co., Ltd., holds 24.94% of shares, totaling 39,909,935 shares[9] - The second-largest shareholder, Takeda Hiroshi, owns 10.76% with 17,225,262 shares[9] - The total number of restricted shares held by Shanghai Feiji Investment Management Co., Ltd. is 29,694,492, which will be released on December 19, 2025[12] - The company has 12,918,946 restricted shares held by Takeda Hiroshi, with no releases during the current period[12] - The total number of restricted shares held by Qian Chenglin is 10,958,435, with 1,956,060 shares released in the current period[12] - The company has a total of 7,575,000 restricted shares held by Zhang Yulong, with no releases during the current period[12] - The total number of shares held by Takeda Shuzhi is 9,795,756, with 7,346,817 shares restricted[9] - The company has a total of 1,519,342 shares held by Haitong Securities Co., Ltd., which are unrestricted[9] - The company is unaware of any relationships or concerted actions among the top ten shareholders, except for the known relationship between Takeda Hiroshi and Takeda Shuzhi[10] Stock Repurchase and Incentive Plan - The company plans to repurchase and cancel a total of 4,280,800 shares of restricted stock that have been granted but not yet released from restrictions, reducing the total share capital from 160,022,492 shares to 155,741,692 shares[16] - The company held a board meeting on March 29, 2023, to approve the repurchase and cancellation of part of the restricted stock under the 2020 stock incentive plan[15] - The company will conduct the repurchase of 1,197,000 shares of restricted stock due to the failure to meet performance conditions in 2022[14] - A total of 319,000 shares of restricted stock will also be repurchased and canceled as part of the incentive plan[14] - The company’s stock incentive plan includes provisions that restrict the transfer of shares for six months after the departure of executives[14] - The company’s executives have been granted a total of 1,120,000 shares of restricted stock, which are subject to repurchase due to performance conditions not being met[13] - The company’s total share capital will be adjusted following the repurchase and cancellation of restricted stocks, impacting shareholder equity[16] - The company’s stock incentive plan is designed to align the interests of executives with those of shareholders, but performance metrics must be met for shares to be released[15] - The company is committed to adhering to regulatory requirements regarding stock repurchase and cancellation processes[15] - The company’s actions reflect a strategic approach to managing equity compensation in light of performance outcomes[15] Research and Development - Research and development expenses rose to ¥5,428,082.59, a 123.74% increase from ¥2,426,068.36, primarily due to the inclusion of subsidiary Yofu Intelligent's R&D costs[6] - Research and development expenses increased to CNY 5,428,082.59, a rise of 124.3% compared to CNY 2,426,068.36 in the previous year[21] - The company plans to continue investing in new product development and market expansion strategies to drive future growth[21]