Letong Chem(002319)2022-04-28 16:00Financial Performance - Revenue for Q1 2022 was CNY 100,811,353.50, an increase of 12.55% compared to CNY 89,570,470.12 in the same period last year[3] - Total operating revenue for Q1 2022 was CNY 100,811,353.50, an increase of 12.8% compared to CNY 89,570,470.12 in the same period last year[23] - Net profit attributable to shareholders was a loss of CNY 4,581,416.41, a decrease of 39.95% from a loss of CNY 3,273,608.71 year-on-year[3] - Net loss for Q1 2022 was CNY 4,581,416.41, compared to a net loss of CNY 3,273,608.71 in Q1 2021, reflecting a deterioration in profitability[24] - The total comprehensive income attributable to the parent company was -4,581,416.41 CNY, compared to -3,273,608.71 CNY in the previous period, indicating a decline[25] - Basic and diluted earnings per share were both -0.023 CNY, down from -0.016 CNY in the previous period[25] Cash Flow and Liquidity - Operating cash flow increased by 176.15%, reaching CNY 2,264,395.89, compared to a negative cash flow of CNY 2,973,774.96 in the previous year[3] - Net cash flow from operating activities was 2,264,395.89 CNY, a significant improvement from -2,973,774.96 CNY in the previous period[28] - Total cash inflow from operating activities was 61,146,435.09 CNY, down 28.2% from 85,130,911.28 CNY in the previous period[28] - Cash outflow from operating activities totaled 58,882,039.20 CNY, a decrease of 33.2% compared to 88,104,686.24 CNY in the previous period[28] - Cash flow from investing activities was -952,236.11 CNY, compared to -1,826,788.69 CNY in the previous period, showing a reduced outflow[29] - Cash flow from financing activities resulted in a net outflow of -2,821,153.41 CNY, compared to -14,355,033.35 CNY in the previous period, indicating improved cash management[29] - The ending balance of cash and cash equivalents was 11,088,872.72 CNY, an increase from 8,267,415.13 CNY in the previous period[29] - The company received 122,000,000.00 CNY in cash from borrowings during the period[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 687,933,772.35, up 4.88% from CNY 655,893,509.49 at the end of the previous year[3] - Total assets as of the end of Q1 2022 were CNY 687,933,772.35, up from CNY 655,893,509.49 at the beginning of the year, representing a growth of 4.9%[21] - Total liabilities increased to CNY 585,553,036.88 from CNY 549,790,000.45, an increase of 6.5%[20] - The company's total equity attributable to shareholders decreased to CNY 102,380,735.47 from CNY 106,103,509.04, a decline of 3.4%[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,474[9] - The largest shareholder, Shenzhen Dashing Asset Management Co., Ltd., holds 26.00% of the shares, totaling 51,999,959 shares[9] Business Operations and Strategy - The company reported a 27.75% increase in notes receivable, attributed to more customers using acceptance bills for settlement[7] - The company experienced a 39.95% decline in net profit due to increased ink material costs and a decrease in internet advertising revenue[7] - Research and development expenses for Q1 2022 were CNY 3,265,807.40, up from CNY 2,695,549.88 in Q1 2021, indicating a 21.2% increase[23] - The company plans to acquire 100% equity of Zhejiang Qichen Technology Co., Ltd. and 45% equity of Hunan Nuclear Sanli Technology Engineering Co., Ltd. through a combination of issuing shares and cash payment[10] - The company has received feedback from the China Securities Regulatory Commission (CSRC) regarding its asset purchase application, which was not approved on December 31, 2021[13] - The company is continuing to push forward with the asset acquisition plan despite the CSRC's disapproval, coordinating with relevant parties to complete necessary audits and documentation[14] - The company acquired 75% equity of Beijing Xuanxiang Siyue Media Advertising Co., Ltd. for RMB 273 million in 2015, later increasing its stake to 100%[15] - The company agreed to extend the payment deadline for outstanding equity acquisition payments and interest to June 30, 2022, with a reduced interest rate of 3.85%[17] Inventory and Receivables - Accounts receivable increased to CNY 158,220,407.01 from CNY 136,652,850.15 at the beginning of the year, indicating a rise of 15.7%[20] - Inventory decreased to CNY 51,826,268.13 from CNY 57,037,360.97, a decline of 9.1%[20] Audit and Reporting - As of March 31, 2022, the company is preparing its consolidated balance sheet for the first quarter[18] - The company did not conduct an audit for the first quarter report[30]