Buydeem Group(300824)2023-04-24 16:00Revenue Performance - The company's revenue for Q1 2023 was ¥170,468,595.72, a decrease of 6.63% compared to ¥182,565,252.51 in the same period last year[7]. - Total operating revenue for Q1 2023 was CNY 170,468,595.72, a decrease of 6.0% from CNY 182,565,252.51 in the same period last year[23]. - The revenue from the "BUYDEEM" brand was CNY 141.93 million, accounting for 83.26% of total revenue, down 2.73% year-over-year[16]. - The OEM/ODM business revenue was CNY 28.54 million, representing 16.74% of total revenue, a decline of 22.13% compared to the previous year[16]. - Domestic revenue for the "BUYDEEM" brand was CNY 132.79 million, up 2.97% year-over-year, while overseas revenue was CNY 9.14 million, down 46.11%[19]. Profitability - Net profit attributable to shareholders increased by 7.04% to ¥17,616,837.56 from ¥16,457,489.17 year-on-year[7]. - Net profit for Q1 2023 was CNY 19,708,531.36, representing a 20.5% increase compared to CNY 16,303,000.09 in Q1 2022[23]. - The company's basic earnings per share increased by 6.97% to ¥0.0540 from ¥0.0505 in the same period last year[7]. - Basic and diluted earnings per share for Q1 2023 were CNY 0.0540, up from CNY 0.0505 in the same period last year, reflecting a growth of approximately 6.9%[25]. - The weighted average return on equity improved by 0.16 percentage points to 2.43% compared to 2.27% in the previous year[7]. Cash Flow and Financial Position - Operating cash flow for the quarter surged by 505.60% to ¥43,774,304.14, compared to ¥7,228,230.83 in Q1 2022[7]. - Cash flow from operating activities generated a net amount of CNY 43,774,304.14, significantly higher than CNY 7,228,230.83 in Q1 2022, indicating a substantial improvement in operational efficiency[28]. - Cash and cash equivalents at the end of Q1 2023 were CNY 391,813,483.06, down 31.1% from CNY 568,390,605.48 at the beginning of the year[22]. - The net cash and cash equivalents at the end of Q1 2023 were CNY 265,909,433.26, compared to CNY 172,075,042.92 at the end of Q1 2022, showing an increase of about 54.5%[29]. - The net cash flow from financing activities decreased by 258.64% to -¥14,443,489.83, primarily due to the expiration of bank acceptance bills and stock incentive plans in the previous year[13]. Investment and R&D - Research and development expenses rose by 42.11% to ¥11,249,717.31, reflecting the company's commitment to increasing R&D investment[12]. - R&D expenses increased to CNY 11,249,717.31, up 42.9% from CNY 7,916,130.54 in the previous year[23]. - The company plans to continue investing in R&D and exploring new market opportunities to drive future growth[23]. Asset Management - The total assets at the end of Q1 2023 were ¥1,035,576,813.72, a slight decrease of 0.34% from ¥1,039,083,135.34 at the end of the previous year[7]. - Total assets as of the end of Q1 2023 were CNY 1,035,576,813.72, slightly down from CNY 1,039,083,135.34 at the beginning of the year[22]. - Total liabilities decreased to CNY 299,801,159.95 from CNY 322,763,880.66 at the beginning of the year, a reduction of 7.1%[22]. - The company reported a significant increase in trading financial assets, which rose by 254.77% to ¥287,004,928.07 due to increased investments in financial products[11]. - The company reported a significant increase in financial assets, with trading financial assets rising to CNY 287,004,928.07 from CNY 80,898,975.36, an increase of 254.0%[21]. Strategic Initiatives - The company is focusing on cost reduction and efficiency improvement measures, which are starting to show positive effects on profitability across business segments[16]. - The company is adjusting its overseas business strategy, which has led to temporary revenue pressure but aims to optimize operational efficiency and profitability[20]. - The company plans to continue enhancing its operational management to prepare for consumer recovery[16]. - The company has successfully advanced the construction of new channels such as Douyin and offline self-operated channels, contributing to slight growth in domestic business revenue[20]. Shareholder Information - The number of common shareholders at the end of the reporting period was 14,650[15]. - The largest shareholder, Jinghui Electric Group Co., Ltd., holds 28.04% of the shares, totaling 91.5 million shares[15].