GMTC(SH:600898)2024-06-20 10:27Financial Performance - The corrected operating revenue for 2022 is CNY 107,946,323.84, a decrease of 45.01% compared to CNY 196,294,921.37 in 2021[3] - The net profit attributable to shareholders for 2022 is CNY -81,373,015.29, compared to CNY -59,474,473.92 in 2021, indicating a worsening performance[3] - The net cash flow from operating activities for 2022 is CNY -5,081,598.24, a significant decline from CNY -329,648,597.01 in 2021[3] - The total assets at the end of 2022 are CNY 407,241,980.61, down 32.42% from CNY 602,641,924.72 at the end of 2021[3] - The net assets attributable to shareholders decreased to CNY 28,928,584.73, a decline of 73.74% from CNY 110,176,689.64 in 2021[3] - The basic earnings per share for 2022 is CNY -0.2851, compared to CNY -0.2211 in 2021, reflecting a decline in profitability[5] - The diluted earnings per share for 2022 is also CNY -0.2851, consistent with the basic earnings per share[5] - The weighted average return on equity for 2022 is -116.99%, a significant drop from -98.69% in 2021[5] - The company reported a significant decrease in cash and cash equivalents, with CNY 77,265,340.01 at the end of 2022, down from CNY 149,371,048.47 in 2021[7] - Total revenue for 2022 was CNY 107,946,323.84, a decrease of 45% compared to CNY 196,294,921.37 in 2021[11] - Net loss for 2022 was CNY 90,339,871.47, compared to a net loss of CNY 70,678,252.58 in 2021, indicating a worsening financial position[12] Assets and Liabilities - The company's total assets decreased to CNY 407,241,980.61 from CNY 602,641,924.72, a decline of approximately 32%[9] - Total liabilities decreased to CNY 303,195,334.59 from CNY 408,500,329.55, a reduction of about 26%[9] - The company’s non-current liabilities totaled CNY 65,417,941.13, slightly down from CNY 66,400,577.74 in the previous year[9] - The company’s equity attributable to shareholders decreased significantly to CNY 28,928,584.73 from CNY 110,176,689.64, a drop of approximately 74%[9] - The total equity attributable to the parent company at the end of the year was CNY 285,380,986.00, with a decrease of CNY 1,514,560,397.35 during the year[15] Cash Flow and Working Capital - The company recorded a total of CNY 32,857,166.00 in owner contributions during the year, which helped mitigate some losses[16] - The company's cash flow from operating activities shows a net profit of CNY -90,339,871.47 for the current period, compared to CNY -70,678,252.58 in the previous period, indicating a decline in cash flow performance[45] - The ending cash balance decreased to 70,001,664.21 from 136,210,246.13, reflecting a decline of about 49%[46] - The net increase in cash and cash equivalents was -66,208,581.92, compared to -95,749,424.83 previously, showing a reduced cash outflow[46] - Operating receivables increased by 99,459,897.82, compared to an increase of 67,025,656.08 previously, indicating stronger collection efforts[46] - Operating payables increased by -67,370,102.69, a significant improvement from -360,572,100.62 in the previous period, suggesting better cash management[46] Accounts Receivable and Bad Debt - The accounts receivable at the end of the period amounted to CNY 69,866,436.60, with a bad debt provision of CNY 34,538,533.34, representing 49.44% of the total accounts receivable[19] - The company reported a significant concentration in accounts receivable, with the top five clients accounting for 79.01% of the total accounts receivable balance[29] - The company’s bad debt provision for accounts receivable was primarily based on individual assessments, with a total of CNY 31,221,771.91 set aside for specific clients[19] - The company’s future outlook remains cautious due to the high levels of bad debt and the need for improved collection strategies[19] Inventory and Cost Management - The total inventory at the end of the period is CNY 44,961,890.03, an increase from CNY 34,411,580.12 at the beginning of the period, reflecting a growth of about 30.7%[31] - Total operating costs increased to CNY 248,339,846.79 in 2022, up from CNY 165,566,450.39 in 2021, representing a 50% increase[11] - The total cost of goods sold for the current period is CNY 196,294,921.37, an increase from CNY 184,966,108.06 in the previous period, representing an increase of approximately 6.5%[40] - Inventory decreased by 11,184,815.21, improving from a decrease of 14,088,833.07 in the prior period[46] Strategic Outlook - The company plans to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[12] - The company is focusing on enhancing its market position through potential mergers and acquisitions as part of its growth strategy[16] - The company plans to disclose further details in the revised annual report on the Shanghai Stock Exchange[46]