Financial Performance - Revenue for the first quarter of 2022 was CNY 104.30 million, representing a decrease of 5.90% year-over-year due to the impact of COVID-19 and cyclical demand fluctuations in the consumer electronics sector [18]. - Net profit for the first quarter of 2022 was CNY 10.04 million, down 27.09% from the previous year, primarily due to fixed costs and currency exchange rate impacts [18]. - Basic earnings per share decreased by 43.75% to CNY 0.09, influenced by an increase in the number of shares outstanding [19]. - Main business revenue decreased by 5.48% year-over-year, with consumer electronics connector cable components down 21.28% and automotive electronics connector cable components up 9.44% [22]. - Total operating revenue for Q1 2022 was ¥104,298,668.27, a decrease of 5.0% compared to ¥110,835,797.39 in Q1 2021 [51]. - Net profit for Q1 2022 was ¥10,038,674.07, representing a decline of 27.0% from ¥13,768,360.24 in Q1 2021 [52]. - The total comprehensive income for Q1 2022 was ¥10,038,674.07, compared to ¥13,768,360.24 in Q1 2021 [54]. Cash Flow and Assets - Operating cash flow for the first quarter of 2022 increased by 371.13% year-over-year, reaching CNY 16.51 million, attributed to timely customer payments [18]. - Cash and cash equivalents increased to approximately 139.99 million yuan as of March 31, 2022, compared to 126.41 million yuan at the end of 2021 [43]. - The company reported cash inflows from operating activities of CNY 123,631,775.36, an increase from CNY 115,266,707.14 in Q1 2021, representing a growth of approximately 2.5% [56]. - The net cash flow from operating activities for Q1 2022 was CNY 16,505,284.69, a significant improvement compared to a net outflow of CNY 6,087,638.26 in Q1 2021 [57]. - Cash and cash equivalents at the end of Q1 2022 increased to CNY 139,992,407.84, up from CNY 15,174,902.27 at the end of Q1 2021, marking a substantial increase [57]. - The company’s total current assets amounted to approximately 341.81 million yuan as of March 31, 2022, slightly up from 340.10 million yuan at the end of 2021 [43]. Liabilities and Equity - The company's total liabilities to assets ratio was 16.03% for the parent company and 15.25% for the consolidated entity, showing a decrease from the previous year [16]. - Current liabilities decreased to CNY 60,043,899.28 from CNY 69,333,011.77, a reduction of approximately 13.5% [44]. - The company reported a total liability of CNY 69,039,593.27, down from CNY 78,034,807.97, a decrease of about 11.4% [45]. - Owner's equity rose to CNY 383,664,242.69, compared to CNY 373,625,568.62, marking an increase of approximately 2.8% [45]. - Retained earnings increased to CNY 160,761,268.43 from CNY 150,722,594.36, an increase of approximately 6.9% [45]. Shareholder Information - The registered capital of the company is CNY 106.10 million, with its main operations based in Weifang, Shandong Province [14]. - The total number of unrestricted shares is 29,512,000, accounting for 27.82% of the total share capital [25]. - The total number of restricted shares is 76,588,000, representing 72.18% of the total share capital [25]. - Major shareholders include Li Liang and Zhao Qingfu, each holding 35,740,000 shares, which is 33.69% of the total shares [26]. - The top ten shareholders collectively hold 82,198,580 shares, representing 77.48% of the total shares [28]. - The company has no preferred stock currently in existence [29]. Commitments and Compliance - The company has committed to fulfilling its obligations regarding the public offering, which started in June 2021 and is expected to end in June 2024 [32]. - The company is currently executing a shareholder return plan for 2020-2022, which includes dividend commitments [34]. - The company is in compliance with its previously disclosed commitments and has fulfilled them in a timely manner [32]. - The company has not engaged in any significant related party transactions during the reporting period [31]. - The company has not experienced any asset seizures, freezes, or pledges during the reporting period [31]. Risks and Future Outlook - The company is currently addressing risks related to bank loans and social security contributions [34]. - The company has committed to issuing up to 20 million shares to mitigate the risk of dilution on immediate returns following the public offering [36]. - The company will implement stock price stabilization measures if the stock price falls below the audited net asset value per share for 20 consecutive trading days [36]. - There are no significant events reported that could impact future performance [30]. - The company has not disclosed any new product or technology developments in this report [30].
智新电子(837212) - 2022 Q1 - 季度财报