Financial Performance - The group reported a net profit attributable to shareholders of RMB 175.8 million for Q1 2022, an increase of 9.8% compared to the same period last year[7]. - Total revenue for Q1 2022 reached RMB 1.784 billion, reflecting a growth of 10.1% year-on-year, driven by increased service concession operation maintenance income and accelerated construction project progress[7]. - Gross profit rose by 4.5% to RMB 578.2 million, primarily due to higher financial income related to service concessions and faster project completion[7]. - The pre-tax profit for the quarter was RMB 338.4 million, up 6.6% from RMB 317.6 million in the same quarter last year[10]. - Basic and diluted earnings per share for the period were both RMB 6.83, representing a 10.8% increase from RMB 6.16[10]. - The total comprehensive income for the period amounted to RMB 278.4 million, a 19.5% increase compared to RMB 232.9 million in the previous year[10]. - The group's profit for the period was RMB 175,821 thousand for the three months ended March 31, 2022, compared to RMB 80,022 thousand for the same period in 2021, indicating a substantial increase of 119.9%[16]. - The income tax expense for the three months ended March 31, 2022, was RMB 82,606,000, compared to RMB 77,052,000 for the same period in 2021, representing an increase of approximately 6.5%[32]. Assets and Liabilities - As of March 31, 2022, total current assets amounted to RMB 8,504,773 thousand, an increase of 13.5% from RMB 7,491,647 thousand as of December 31, 2021[11]. - Total non-current assets decreased to RMB 29,691,763 thousand from RMB 30,022,318 thousand, reflecting a decline of 1.1%[12]. - Total assets reached RMB 38,196,536 thousand, up from RMB 37,513,965 thousand, indicating a growth of 1.8%[12]. - Total current liabilities were RMB 9,288,486 thousand, a slight decrease from RMB 9,434,216 thousand, down by 1.5%[12]. - Total non-current liabilities increased to RMB 14,509,414 thousand from RMB 14,043,548 thousand, representing an increase of 3.3%[12]. - Total equity rose to RMB 14,398,636 thousand from RMB 14,036,201 thousand, marking an increase of 2.6%[12]. - Trade and other receivables increased to RMB 3,589,514 thousand from RMB 3,403,809 thousand, reflecting a growth of 5.5%[11]. - The total trade payables as of March 31, 2022, were RMB 2,130,118,000, down from RMB 2,639,871,000 at the end of 2021, reflecting a decrease of about 19.3%[39]. Cash Flow - The net cash used in operating activities for the three months ended March 31, 2022, was RMB (478,039) thousand, a significant increase from RMB (324,576) thousand in the same period of 2021, indicating a decline in cash flow[14]. - The net cash used in investing activities for the three months ended March 31, 2022, was RMB (194,118) thousand, compared to RMB (123,939) thousand in the same period of 2021, indicating increased investment outflows[14]. - The net cash generated from financing activities for the three months ended March 31, 2022, was RMB 561,908 thousand, a decrease from RMB 1,491,493 thousand in the same period of 2021, showing reduced financing inflows[14]. - The group reported a net cash outflow of RMB 478 million from operating activities in Q1 2022, mainly used for service concession projects[75]. - Financing activities generated a net cash inflow of RMB 561.9 million in Q1 2022, primarily from bank and other borrowings[75]. Operational Highlights - The revenue from water and sludge treatment was RMB 961,706 thousand, while the revenue from water supply was RMB 219,187 thousand, and solid waste power generation was RMB 544,051 thousand for the three months ended March 31, 2022[27]. - The construction revenue for the three months ended March 31, 2022, was RMB 611,229 thousand, compared to RMB 570,905 thousand for the same period in 2021, indicating an increase of approximately 7.5%[31]. - Service concession operation and maintenance revenue for Q1 2022 totaled RMB 1.0744 billion, up from RMB 981.5 million in Q1 2021, driven by increased sewage treatment volume and higher average service prices[61]. - The financial income from service concession arrangements was RMB 307,202 thousand for the three months ended March 31, 2022, up from RMB 270,391 thousand in the same period of 2021[31]. - The company is actively managing the construction of the Baoshan project, with overall progress under control despite potential delays due to material shortages[76]. Governance and Compliance - The group has complied with all provisions of the Corporate Governance Code as set out in the Hong Kong Stock Exchange Listing Rules during the reporting period[8]. - The board confirms no significant fraudulent or misleading matters affecting the financial statements as of March 31, 2022[81]. - The company has obtained confirmations from all directors and executives regarding compliance with listing rules[82]. Future Outlook and Strategy - The company is exploring investment opportunities in the waste-to-energy sector, aligning with national green development trends[77]. - The company has not disclosed any forecasts or outlook statements to shareholders[76]. - The company plans to sell its subsidiaries, Xinxian and Dazhou, with expected proceeds exceeding the net book value of the related assets and liabilities[45].
上海实业环境(00807) - 2022 Q1 - 季度财报