QCEC(SH:600218)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,721,108,752.05, representing a year-on-year increase of 29.44%[5] - The net profit attributable to shareholders decreased by 38.27% to CNY 36,147,332.96, while the net profit excluding non-recurring gains and losses dropped by 63.00% to CNY 18,105,687.97[5] - Net profit for Q1 2022 was ¥33,686,549.35, a decrease of 41.3% from ¥57,503,015.58 in Q1 2021[18] - Basic and diluted earnings per share for Q1 2022 were both ¥0.08, down from ¥0.16 in Q1 2021[18] Cash Flow - The net cash flow from operating activities was negative at CNY -436,290,019.71, a decline of 119.83% compared to the previous year[5] - Cash flow from operating activities for Q1 2022 was negative at -¥436,290,019.71, compared to -¥198,469,602.75 in Q1 2021[20] - Cash inflow from operating activities totaled ¥686,131,167.80 in Q1 2022, down from ¥895,426,036.62 in Q1 2021[20] - Cash outflow from operating activities was ¥1,122,421,187.51 in Q1 2022, compared to ¥1,093,895,639.37 in Q1 2021[20] - The company experienced a net decrease in cash and cash equivalents of $573.3 million, compared to a decrease of $157.3 million in the previous year[21] Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,345,327,142.76, an increase of 4.86% from the end of the previous year[6] - The company's current assets totaled CNY 5,076,457,242.51, compared to CNY 4,784,537,466.38 at the end of 2021, indicating an increase of about 6.13%[13] - The total liabilities of the company were CNY 3,205,885,715.79, up from CNY 2,947,164,680.02, reflecting an increase of around 8.74%[15] - The company's cash and cash equivalents decreased to CNY 452,121,052.02 from CNY 1,028,288,734.81, a decline of approximately 56.1%[13] Investments and Income - The company reported a significant increase in investment income by 74.84%, attributed to matured financial products[7] - Investment cash inflow for Q1 2022 was ¥325,000,000.00, an increase from ¥225,000,000.00 in Q1 2021[20] - The company invested $440 million in cash for investments, up from $180 million in the same period last year[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 64,391[9] - The total equity attributable to shareholders increased to CNY 3,079,407,394.37 from CNY 3,041,387,922.00, representing a growth of approximately 1.25%[15] Costs and Expenses - The company's gross profit margin decreased due to rising costs of raw materials such as pig iron and steel, impacting overall profitability[7] - Total operating costs for Q1 2022 were ¥1,661,412,863.49, up from ¥1,244,064,364.08 in Q1 2021, reflecting a 33.5% increase[17] - Research and development expenses for Q1 2022 were ¥38,968,305.81, slightly up from ¥37,114,593.79 in Q1 2021[17] - The company reported a financial expense of -¥4,030,655.75 in Q1 2022, compared to -¥1,850,237.43 in Q1 2021[17] Government Support - The company received government subsidies amounting to CNY 7,601,472.32 during the reporting period, which was higher than the previous year[7] Other Financial Metrics - The weighted average return on equity decreased by 1.18 percentage points to 1.47%[6] - Accounts receivable increased by 225.68%, primarily due to increased sales revenue and the utilization of customer turnover funds[6] - The accounts receivable increased significantly to CNY 1,458,102,298.40 from CNY 447,708,089.54, marking a substantial rise of approximately 226.5%[13] - The company reported a significant increase in accounts payable, which rose to CNY 2,029,889,636.66 from CNY 1,856,049,269.05, an increase of about 9.34%[14] Capital Management - The company has maintained a stable capital reserve of CNY 1,716,969,879.43, unchanged from the previous year, indicating consistent financial management[15] - The company's short-term borrowings and other current liabilities were not specified, indicating a focus on managing current liabilities effectively[14] Accounting Standards - The report indicates that the company is not applying the new accounting standards for the current year[21]