JZJ(SH:605266)2022-04-27 16:00Financial Performance - The company's revenue for Q1 2022 was ¥1,450,283,191.81, representing a year-on-year increase of 24.28%[6]. - Net profit attributable to shareholders decreased by 54.64% to ¥29,365,396.05, while the net profit after deducting non-recurring gains and losses fell by 41.81% to ¥35,036,828.38[6]. - The total operating revenue for Q1 2022 was CNY 1,450,283,191.81, an increase of 24.3% compared to CNY 1,166,949,124.13 in Q1 2021[74]. - Net profit for Q1 2022 was CNY 28,353,526.81, a decrease of 55.6% from CNY 63,734,456.96 in Q1 2021[76]. - The company's basic earnings per share was CNY 0.43 for Q1 2022, down from CNY 0.94 in Q1 2021[79]. - The company faced a 41.81% decline in net profit attributable to shareholders after excluding non-recurring gains and losses[44]. Cash Flow and Investments - The net cash flow from operating activities was negative at -¥27,843,634.14, a decline of 208.79% compared to the same period last year[6]. - In Q1 2022, the company reported cash inflows from operating activities of CNY 1,279,768,401.04, an increase of 16.8% compared to CNY 1,095,469,849.46 in Q1 2021[80]. - The net cash outflow from operating activities was CNY -27,843,634.14, a decline from a net inflow of CNY 25,592,761.68 in the same period last year[83]. - Cash inflows from investment activities totaled CNY 10,032,292.47, down 94.3% from CNY 175,251,627.76 in Q1 2021[83]. - The net cash outflow from investment activities was CNY -781,809,088.38, worsening from CNY -364,066,473.14 in the previous year[83]. - The company reported a cash outflow of RMB 1,351.68 million for the purchase of fixed assets, primarily for the "Southwest Logistics Center"[19]. Assets and Liabilities - The company's total assets increased by 16.82% to ¥6,091,389,670.03, while equity attributable to shareholders rose by 1.63% to ¥1,940,940,788.14[9]. - The total liabilities increased to CNY 4,168,178,485.34 in Q1 2022, compared to CNY 3,321,162,091.55 in Q1 2021, reflecting a growth of 25.5%[74]. - The total current assets as of March 31, 2022, amounted to RMB 2.82 billion, an increase from RMB 2.50 billion at the end of 2021, reflecting a growth of approximately 13%[65]. - The total non-current liabilities reached CNY 1,226,585,955.46 in Q1 2022, up from CNY 900,250,650.36 in Q1 2021, marking a 36.2% increase[74]. Store Expansion and Operations - The company opened 99 new self-built stores while closing 9 stores, resulting in a net increase of 90 stores, bringing the total to 3,134 stores[28][30]. - The company has opened 596 new stores within one year, accounting for 19.02% of total stores, reflecting rapid expansion[37]. - The number of stores in county-level and above areas accounts for 95.45% of the total store count, indicating a strong penetration into these markets[35]. - The company plans to focus its expansion strategy on the Sichuan, Chongqing, and Guangxi regions, replicating its successful model from Yunnan[28]. Revenue Sources and Margins - The company reported a 27.17% increase in pharmaceutical retail revenue, contributing to overall revenue growth[10]. - The gross margin for the main business was 31.95%, with an overall gross margin of 33.49%, remaining stable compared to the previous year[10]. - The gross profit margin for the pharmaceutical retail segment decreased by 0.16% year-on-year to 32.73%[41]. - The average revenue per store for pharmaceutical retail chain stores in Q1 2022 was 427,400 RMB, down from 512,100 RMB in Q1 2021[37]. - Online business revenue reached 294.93 million yuan, a year-on-year increase of 82.98%, with online sales accounting for 20.34% of total revenue[53]. Challenges and Strategic Focus - The company faced challenges due to ongoing pandemic impacts, with consumer confidence and spending under pressure, reflected in a 3.5% decline in retail sales in March[9]. - The company plans to continue focusing on risk control and steady growth amidst market uncertainties[10]. - The company aims to enhance its all-channel marketing capabilities, with a focus on customer relationship management to improve customer retention[53]. - The company plans to continue monitoring pandemic developments and adjust its operational strategies accordingly to mitigate risks and enhance store productivity[64].