长川科技(300604) - 2022 Q1 - 季度财报

Key Financial Data Core Financial Indicators The company reported strong revenue and profit growth in Q1 2022 but faced significant cash flow pressure from operating activities Key Financial Indicators for Q1 2022 | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 537,645,018.20 | 294,808,302.88 | 82.37% | | Net Profit Attributable to Shareholders (Yuan) | 71,096,853.35 | 44,408,744.94 | 60.10% | | Net Profit Attributable to Shareholders (Non-recurring items deducted) (Yuan) | 62,291,538.81 | 42,465,189.84 | 46.69% | | Net Cash Flow from Operating Activities (Yuan) | -178,877,187.69 | -70,656,958.08 | -153.16% | | Basic Earnings Per Share (Yuan/Share) | 0.12 | 0.07 | 71.43% | | Total Assets (Yuan) | 3,525,327,567.84 | - | 6.23% (vs. End of Prior Year) | | Equity Attributable to Shareholders (Yuan) | 1,853,632,855.75 | - | 4.85% (vs. End of Prior Year) | Non-recurring Gains and Losses Total non-recurring gains for the period were ¥8.81 million, primarily driven by a ¥11.15 million government subsidy Non-recurring Items for Q1 2022 | Item | Amount (Yuan) | Notes | | :--- | :--- | :--- | | Government subsidies included in current profit/loss | 11,149,606.65 | - | | Gains/losses on disposal of non-current assets | 121,866.75 | - | | Less: Income tax effect | 2,476,105.49 | - | | Total | 8,805,314.54 | -- | Analysis of Financial Data Changes Financial data changes reflect the company's expansion strategy, with significant increases in investments, R&D spending, and bank borrowings to support rapid revenue growth Balance Sheet Item Fluctuation Analysis The balance sheet reflects an expansion phase, marked by substantial increases in construction in progress, long-term investments, and short-term borrowings Major Balance Sheet Item Changes (Fluctuation > 30%) | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Construction in Progress | 480.97% | Continued investment in new base construction | | Short-term Borrowings | 205.93% | Increase in bank loans | | Long-term Deferred Expenses | 191.98% | Increase in deferred decoration costs | | Long-term Equity Investments | 159.74% | New external investments | | Taxes Payable | 122.92% | Increased sales led to a corresponding increase in taxes | | Lease Liabilities | 114.13% | New property leases | | Contract Liabilities | -71.22% | Partial delivery of orders with advance payments from the previous period | | Employee Compensation Payable | -40.39% | Payment of prior year-end bonuses | Income Statement Item Fluctuation Analysis The income statement shows rapid business growth, with an 82% revenue increase driving significant rises in R&D expenses, cost of sales, and net profit Major Income Statement Item Changes (Fluctuation > 30%) | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Income Tax Expense | 8002.36% | Increased profits led to a corresponding increase in income tax expense | | Finance Costs | 123.31% | Increased loan interest and exchange rate fluctuations | | Other Income | 114.63% | Increase in government subsidies and software tax refunds | | Net Profit | 92.72% | Increased sales led to higher profitability | | R&D Expenses | 92.28% | Continued increase in R&D investment | | Cost of Sales | 85.86% | Increased sales led to a corresponding increase in costs | | Operating Revenue | 82.37% | Increase in sales | | Administrative Expenses | 52.78% | Expansion of business scale led to higher administrative costs | Cash Flow Statement Item Fluctuation Analysis Despite a 106% increase in cash from sales, operating cash flow worsened due to higher payments for purchases and employee compensation Major Cash Flow Statement Item Changes | Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Cash Paid for Investments | 164.00% | New external investment amount | | Cash Paid for Goods and Services | 125.16% | Increased sales led to a corresponding increase in procurement | | Cash Paid for Taxes | 125.23% | Increased sales led to a corresponding increase in taxes | | Cash Received from Sales of Goods and Services | 105.50% | Increased sales led to higher cash collections | | Cash Paid to and for Employees | 94.38% | Increased headcount, higher salaries, and payment of prior year-end bonuses | | Cash Received from Borrowings | - | Increase in bank borrowings during the period | Shareholder Information Shareholder Holdings As of the reporting period end, the company had 25,979 common shareholders, with a concentrated ownership structure led by the largest shareholder Zhao Yi (23.42%) - The total number of common shareholders was 25,979 at the end of the reporting period[8] Top Five Shareholders | Shareholder Name | Shareholder Type | Shareholding Ratio | Number of Shares | | :--- | :--- | :--- | :--- | | Zhao Yi | Domestic Natural Person | 23.42% | 141,562,196 | | National Integrated Circuit Industry Investment Fund Co, Ltd | State-owned Legal Entity | 6.76% | 40,857,640 | | Hangzhou Changchuan Investment Management Partnership (Limited Partnership) | Domestic Non-state-owned Legal Entity | 6.21% | 37,558,565 | | Zhong Fenghao | Domestic Natural Person | 5.69% | 34,373,008 | | Han Xiao | Domestic Natural Person | 2.59% | 15,679,151 | - Note on related parties: Hangzhou Changchuan Investment Management Partnership (Limited Partnership) is a partnership controlled by Xu Xin, the spouse of Zhao Yi, one of the company's actual controllers[9] Quarterly Financial Statements Financial Statements This section contains the unaudited Q1 2022 consolidated financial statements, which support the preceding financial analysis - This chapter includes the detailed consolidated balance sheet, consolidated income statement, and consolidated cash flow statement[10][14][17] Auditor's Report The company's financial report for the first quarter of 2022 was unaudited - The first quarter report has not been audited[20]