CSICL(601989)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was RMB 611,425.30 million, a decrease of 14.17% year-on-year[2] - The net profit attributable to shareholders was RMB 55.55 million, down 72.70% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB -37.35 million, a decline of 143.98% year-on-year[2] - The basic earnings per share for the period was RMB 0.002, a decrease of 77.78% year-on-year[2] - The diluted earnings per share was also RMB 0.002, reflecting the same percentage decrease[3] - The company's net profit attributable to shareholders of the parent company for Q1 2022 was 0.06 billion RMB, a decrease of 72.70% from 0.20 billion RMB in Q1 2021[10] - Net profit for Q1 2022 was approximately 200.11 million in Q1 2021[18] - The company recorded a total comprehensive income of approximately -190.14 million in Q1 2021[18] Cash Flow - The net cash flow from operating activities was RMB -2,751.96 million, compared to RMB -314 million in the same period last year[3] - The company reported a net cash outflow from operating activities of approximately 313.60 million in Q1 2021[19] - The net cash flow from financing activities was 0.81 billion RMB, a substantial increase of 291.04% from 0.21 billion RMB in the previous year[12] - Cash inflow from financing activities amounted to approximately 3.64 billion year-over-year[20] - Net cash flow from financing activities increased to 208.09 million in the previous year[20] - The net decrease in cash and cash equivalents was approximately -4.17 billion in the previous year[20] - The ending balance of cash and cash equivalents was approximately 32.61 billion year-over-year[20] Assets and Liabilities - The total assets at the end of the reporting period were RMB 18,419,077.70 million, an increase of 2.25% from the end of the previous year[3] - The total assets as of March 31, 2022, were 184.19 billion RMB, reflecting a growth of 2.25% from 180.14 billion RMB at the end of 2021[11] - The total liabilities increased by 4.28% to 98.07 billion RMB compared to 94.04 billion RMB at the end of 2021[11] - Total liabilities amounted to CNY 98,071,060,138.03, compared to CNY 94,042,164,637.11, reflecting an increase of about 4.3%[16] - Long-term borrowings reached 10.50 billion RMB, up 35.57% from 7.75 billion RMB at the end of 2021[13] - Long-term borrowings increased significantly to CNY 10,501,126,527.78 from CNY 7,745,827,777.78, representing a rise of approximately 35.8%[16] Revenue and Costs - The operating cost for Q1 2022 was 5.43 billion RMB, down 15.36% from 6.41 billion RMB in the same period last year[10] - Total operating costs for Q1 2022 were approximately 7.10 billion in Q1 2021[17] - The gross profit margin increased to 11.27%, up 1.25 percentage points year-on-year[10] - Investment income for the reporting period was 0.76 billion RMB, a significant increase of 152.21% compared to 0.30 billion RMB in Q1 2021[10] - Research and development expenses increased to approximately 128.45 million in Q1 2021, reflecting a growth of 14.2%[17] Challenges and Strategies - The company faced challenges due to the uneven distribution of revenue recognition in shipbuilding and high costs of raw materials and labor[3] - The company implemented cost control measures to mitigate the impact of rising costs and improve efficiency[3] - The company plans to enhance its market expansion efforts and invest in new product development to drive future revenue growth[14] Other Financial Metrics - The company's cash and cash equivalents decreased to CNY 65,939,273,780.20 from CNY 67,978,718,297.03, a decline of about 3.0%[14] - Accounts receivable increased to CNY 8,649,993,463.67 from CNY 8,107,585,641.78, reflecting a growth of approximately 6.7%[14] - Inventory rose to CNY 29,260,201,576.13 from CNY 26,606,053,579.36, indicating an increase of around 10.0%[15] - Total non-current assets reached CNY 57,160,509,478.16, up from CNY 56,891,534,636.22, marking a growth of about 0.5%[15] - The company's financial expenses showed a reduction, with net financial costs of approximately -339.20 million in Q1 2021[17] Accounting Standards - The company has implemented new accounting standards starting from 2022[20]