Zhejiang Furun(SH:600070)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥262,231,996.93, representing a decrease of 51.57% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of ¥4,376,667.53, down 104.94% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥41,625,698.18, a decline of 353.15% compared to the previous year[4] - Basic and diluted earnings per share were both -¥0.01, reflecting a decrease of 105.88% year-on-year[4] - The weighted average return on equity decreased by 4.01 percentage points to -0.25%[4] - The company's net profit for Q1 2022 was not explicitly stated, but the decrease in revenue and increase in costs suggest potential challenges ahead[19] - In Q1 2022, the company reported a net profit of -6,733,317.28 RMB, compared to a net profit of 87,095,640.69 RMB in Q1 2021, indicating a significant decline[20] - The total comprehensive income for Q1 2022 was -6,733,317.28 RMB, compared to 87,095,640.69 RMB in Q1 2021, showing a drastic reduction[21] Cash Flow and Liquidity - The net cash flow from operating activities was a negative ¥39,945,145.98, indicating a significant cash outflow[4] - The cash flow from operating activities showed a net outflow of -39,945,145.98 RMB in Q1 2022, compared to -108,684,191.19 RMB in Q1 2021, indicating an improvement in cash flow performance[24] - The company's cash and cash equivalents decreased to RMB 95,582,489.72 as of March 31, 2022, from RMB 183,939,965.41 at the end of 2021, representing a decline of 48.0%[14] - The company’s cash and cash equivalents at the end of Q1 2022 were 45,582,489.72 RMB, down from 218,009,650.83 RMB at the end of Q1 2021[25] - The company reported investment cash inflows of 5,147,110.33 RMB in Q1 2022, significantly lower than 83,780,082.42 RMB in Q1 2021[24] - The financing cash flow showed a net outflow of -3,502,440.04 RMB in Q1 2022, compared to a net inflow of 22,660,825.43 RMB in Q1 2021[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,690,867,537.69, a decrease of 0.97% from the end of the previous year[5] - Total liabilities decreased to RMB 918,000,277.09 in Q1 2022, down 2.0% from RMB 938,511,840.64 at the end of 2021[16] - The total assets as of March 31, 2022, were RMB 2,690,867,537.69, a decrease of 1.0% from RMB 2,717,112,418.52 at the end of 2021[17] - The total equity attributable to shareholders decreased to RMB 1,775,406,478.57 as of March 31, 2022, from RMB 1,778,783,146.10 at the end of 2021, reflecting a slight decline of 0.2%[17] Revenue and Costs - The decline in revenue and profit was primarily attributed to a downturn in the internet business[9] - Total operating revenue for Q1 2022 was RMB 262,231,996.93, a decrease of 51.5% compared to RMB 541,465,423.54 in Q1 2021[19] - Total operating costs for Q1 2022 were RMB 283,819,364.10, down 45.1% from RMB 517,306,517.57 in Q1 2021[19] - Accounts receivable increased to RMB 1,187,351,458.02 in Q1 2022, up 23.7% from RMB 959,257,472.88 in Q1 2021[15] - The company reported a decline in inventory to RMB 7,549,386.94 in Q1 2022 from RMB 7,068,119.32 in Q1 2021, indicating a potential shift in inventory management[15] - Research and development expenses for Q1 2022 were RMB 11,421,820.54, a decrease of 15.5% compared to RMB 13,509,577.90 in Q1 2021[19] Financial Expenses - The company incurred financial expenses of 2,427,627.83 RMB in Q1 2022, a decrease from 11,344,336.77 RMB in Q1 2021[20] - The company’s interest expenses were 3,503,877.30 RMB in Q1 2022, down from 10,424,160.51 RMB in Q1 2021, indicating a reduction in borrowing costs[20]