AVICOPTER(SH:600038)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥1,625,262,424.14, representing a decrease of 49.21% compared to the same period last year[4]. - The net profit attributable to shareholders was ¥11,265,510.99, down 93.13% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,761,244.85, a decrease of 97.03% compared to the previous year[4]. - Net profit for Q1 2022 was ¥5,385,223.10, down from ¥158,477,261.38 in Q1 2021, representing a decline of 96.6%[16]. - Total revenue for Q1 2022 was not explicitly stated, but the net profit was reported as -2,493,941.77 RMB, compared to -1,387,109.24 RMB in Q1 2021, indicating a decline in profitability[21]. - Operating profit for Q1 2022 was -2,493,941.77 RMB, a decrease from -1,386,995.38 RMB in the same period last year, reflecting a worsening operational performance[21]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥1,538,026,891.07, indicating a significant cash outflow due to reduced customer payments[4][8]. - Cash flow from operating activities in Q1 2022 was negative at -¥1,538,026,891.07, compared to -¥232,553,762.09 in Q1 2021[17]. - The company's cash and cash equivalents decreased to RMB 1,889,924,141.07 from RMB 3,520,286,127.87, representing a decline of about 46.3% year-over-year[12]. - Total cash and cash equivalents at the end of Q1 2022 were ¥1,672,513,066.97, down from ¥2,300,459,132.44 at the end of Q1 2021[18]. - The company reported a decrease in cash and cash equivalents at the end of Q1 2022 to 34,304,209.78 RMB from 35,400,243.69 RMB at the beginning of the period[23]. Assets and Liabilities - Total assets at the end of the reporting period were ¥27,546,414,217.90, an increase of 1.92% from the end of the previous year[4]. - As of March 31, 2022, the total assets of the company amounted to RMB 27,546,414,217.90, an increase from RMB 27,027,256,861.71 at the end of 2021, reflecting a growth of approximately 1.9%[12]. - Accounts receivable increased significantly to RMB 4,757,155,358.42, up from RMB 3,304,498,264.17, indicating a growth of approximately 43.9%[12]. - Inventory rose to RMB 14,954,060,261.68, compared to RMB 13,004,826,408.43, marking an increase of about 15%[12]. - Total liabilities reached RMB 17,599,174,785.70, up from RMB 17,099,577,691.66, which is an increase of approximately 2.9%[13]. - The company's total liabilities as of March 31, 2022, were ¥1,915,078.12, slightly down from ¥1,920,367.88 at the end of 2021[19]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 38,261[9]. - The largest shareholder, Harbin Aircraft Industry (Group) Co., Ltd., held 26.71% of the shares[9]. Research and Development - The company's R&D expenses decreased by 84.21% due to fewer self-funded research projects in the current period[7]. - Research and development expenses in Q1 2022 were ¥13,392,380.28, significantly reduced from ¥84,834,228.08 in Q1 2021, a decrease of 84.2%[15]. Operational Costs - Operating costs for Q1 2022 were ¥1,626,002,599.17, a decrease of 45.7% from ¥3,010,212,131.34 in Q1 2021[15]. - Management expenses increased significantly to 2,871,170.45 RMB in Q1 2022 from 1,417,922.26 RMB in Q1 2021, reflecting higher operational costs[21]. Other Financial Metrics - The weighted average return on net assets was 0.1198%, a decrease of 1.7108 percentage points compared to the previous year[4]. - The company incurred financial expenses of -¥10,997,645.12 in Q1 2022, compared to -¥2,224,270.71 in Q1 2021[15]. - The company incurred credit impairment losses of 54,798.32 RMB in Q1 2022, indicating potential challenges in receivables management[21]. - Other income rose sharply to 287,874.23 RMB in Q1 2022 from 11,238.68 RMB in Q1 2021, indicating improved revenue from non-core activities[21]. Product Development - The company has not reported any new product developments or market expansions in the current quarter[21].