TOYOU(300302)2022-04-28 16:00Financial Performance - The company's revenue for Q1 2022 was CNY 139,774,645.50, representing a 108.60% increase compared to CNY 67,005,121.45 in the same period last year[6] - Net profit attributable to shareholders reached CNY 9,143,079.38, a significant increase of 2,775.95% from CNY 317,915.54 year-on-year[6] - The net profit excluding non-recurring gains and losses was CNY 8,782,027.21, compared to a loss of CNY 569,497.58 in the previous year, marking a 1,642.07% increase[6] - Basic and diluted earnings per share were both CNY 0.0187, up 2,571.43% from CNY 0.0007 in the previous year[6] - Gross profit reached 57.22 million yuan, reflecting a growth of 113.76% compared to the same period last year[17] - Operating profit for Q1 2022 was CNY 9,668,928.09, compared to a loss of CNY 318,790.16 in the same period last year, indicating a turnaround in performance[32] - The company reported a total comprehensive income of CNY 9,115,091.92 for Q1 2022, compared to CNY 633,350.84 in Q1 2021, an increase of approximately 1,336%[33] Cash Flow and Assets - The company's cash flow from operating activities showed a net outflow of CNY -76,406,723.00, a decline of 1,576.84% from CNY 5,173,669.99 in the same quarter last year[6] - The total current assets as of March 31, 2022, were CNY 865,170,017.58, slightly down from CNY 865,952,708.92 at the beginning of the year[26] - The total non-current assets decreased from CNY 946,001,999.59 at the beginning of the year to CNY 943,832,977.78 by the end of the first quarter of 2022[27] - The total liabilities as of March 31, 2022, were CNY 297,107,524.62, down from CNY 309,943,311.67 at the beginning of the year[29] - The cash and cash equivalents at the end of Q1 2022 were CNY 95,234,733.31, down from CNY 128,783,472.66 at the end of Q1 2021, a decrease of about 26%[36] Investments and Expenses - Research and development expenses increased by 29.20% to CNY 12,997,178.49, reflecting the company's commitment to enhancing its R&D capabilities[10] - The company confirmed investment losses of 8.36 million yuan, with a significant portion attributed to share-based payment expenses[18] - Credit impairment losses were recorded at 5.00 million yuan, an increase of 1,362.94% year-on-year[18] - The company incurred a financial expense of CNY 2,337,000.45, a slight decrease from CNY 2,737,268.31 in the previous year[32] Strategic Focus - The company is focusing on three strategic directions: flash memory, cloud computing, and self-controllability[20] - The company aims to achieve a strategic transformation from sales-driven to product and research-driven[20] - The company is advancing the operation of the Changsha storage industrial park project to optimize the entire storage industry chain[20] Operational Highlights - The storage system business generated revenue of 112.00 million yuan, up 233.92% year-on-year[17] - The subsidiary Hongqin Technology signed new orders worth 56.44 million yuan, a 19.26% increase from the previous year[18] - The total operating costs for the first quarter of 2022 amounted to CNY 117,442,859.68, compared to CNY 73,258,168.70 in the previous year, indicating an increase of about 60.4%[31] Corporate Governance - The company appointed Ms. Yang Xiaoran as the new Chief Financial Officer on February 24, 2022[22] - The company approved the grant of 1.5 million restricted stock units to 23 incentive recipients at a price of CNY 4.76 per share on February 24, 2022[23] - The company decided to terminate the issuance of A-shares to specific investors and withdrew the application due to changes in the capital market environment and financing timing[22]