Financial Performance - Total operating revenue for the three months ended March 31, 2022, was RMB 963,644,836.52, an increase of 28.2% compared to RMB 751,429,239.14 for the same period in 2021[8]. - Total operating costs for the same period were RMB 973,589,084.57, up from RMB 725,661,678.49, reflecting a 34.2% increase[8]. - Net profit for the three months ended March 31, 2022, was a loss of RMB 2,549,041.58, compared to a profit of RMB 29,972,638.72 in the same period of 2021[9]. - Operating profit for the three months ended March 31, 2022, was RMB 3,743,003.42, a decrease from RMB 39,634,004.76 in the same period of 2021[9]. - Total comprehensive income attributable to the parent company for the three months ended March 31, 2022, was RMB 5,241,505.40, compared to RMB 31,772,330.35 in the same period of 2021[10]. - The company reported a basic earnings per share of RMB 0.01 for the three months ended March 31, 2022, down from RMB 0.04 in the same period of 2021[10]. Assets and Liabilities - As of March 31, 2022, the company's total assets amounted to RMB 12,158,191,022.28, an increase from RMB 11,813,210,663.73 as of December 31, 2021, reflecting a growth of approximately 2.9%[6]. - The company's current assets totaled RMB 3,128,038,230.88 as of March 31, 2022, compared to RMB 2,977,328,966.77 at the end of 2021, indicating an increase of about 5.1%[3]. - The company's total liabilities reached RMB 6,713,174,963.02 as of March 31, 2022, compared to RMB 6,365,414,669.75 at the end of 2021, marking an increase of approximately 5.5%[5]. - The company's total equity stood at RMB 5,445,016,059.26 as of March 31, 2022, slightly down from RMB 5,447,795,993.98 at the end of 2021, indicating a decrease of about 0.1%[6]. Cash Flow - Cash flow from operating activities for the three months ended March 31, 2022, was RMB 1,053,352,260.70, compared to RMB 840,101,872.46 for the same period in 2021, indicating a 25.4% increase[11]. - The company reported a net increase in cash flow from operating activities, indicating improved liquidity despite the net loss reported[11]. - Cash and cash equivalents increased to RMB 653,529,307.07 from RMB 550,421,369.21, representing a growth of approximately 18.7%[2]. - Cash and cash equivalents increased by RMB 104.22 million, compared to a decrease of RMB 121.99 million in the previous period[13]. - The net cash flow from financing activities was RMB 318.04 million, up from RMB 100.57 million in the previous period[12]. - The cash outflow from operating activities totaled RMB 1.07 billion, with a net cash flow from operating activities of -RMB 11.65 million[12]. - The company reported a cash outflow from investment activities of RMB 202.16 million, compared to RMB 273.44 million in the previous period[12]. Expenses and Costs - Research and development expenses increased to RMB 41,901,428.68 from RMB 31,944,281.61, representing a 31.2% rise year-over-year[8]. - The total operating costs increased by about 40% year-on-year, primarily due to rising procurement costs of resource waste and increased costs from the new precious metal recovery business[14]. - The company experienced a significant increase in sales revenue from goods and services, reaching RMB 1,044,840,887.85 for the three months ended March 31, 2022, compared to RMB 827,435,292.53 in the previous year, a growth of 26.3%[11]. - Net profit decreased year-on-year, mainly due to intensified market competition and a decline in treatment prices, resulting in a gross margin drop of approximately 2.58%[14]. Strategic Initiatives - The company plans to enhance market expansion efforts to ensure record collection volumes for the year and to strengthen the precious metal recovery business[14]. - The company aims to implement strategies for cost reduction and efficiency improvement, alongside digital transformation initiatives[14]. Inventory and Receivables - The inventory increased to RMB 612,340,444.51 from RMB 550,901,693.78, reflecting a growth of approximately 11.1%[3]. - Accounts receivable rose to RMB 1,024,845,235.41 from RMB 1,022,764,012.55, showing a slight increase of about 0.2%[2]. Borrowings - Short-term borrowings decreased significantly from RMB 1,944,231,778.18 to RMB 1,207,486,236.73, a reduction of about 37.9%[5]. - The long-term borrowings increased from RMB 1,173,417,545.51 to RMB 1,790,657,401.58, representing a growth of approximately 52.5%[5]. - The company reported a decrease in employee compensation payable from RMB 55,140,121.59 to RMB 32,332,458.87, a decline of about 41.3%[5].
东江环保(00895) - 2022 Q1 - 季度财报