JHEC(SH:600273)2022-04-25 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥2,896,536,988.10, representing a year-on-year increase of 74.04%[5] - The net profit attributable to shareholders was ¥583,881,036.16, up 71.88% compared to the same period last year[5] - The basic earnings per share (EPS) was ¥0.4165, reflecting a 75.66% increase year-on-year[5] - The net profit for the first quarter of 2022 was CNY 583,712,378.89, an increase from CNY 339,353,922.87 in the same period of 2021, representing a growth of approximately 72%[31] - Operating profit for the first quarter was CNY 687,301,667.50, up from CNY 400,346,858.89, reflecting a growth of approximately 72%[31] - Total revenue from sales of goods and services reached CNY 1,948,774,074.71, significantly higher than CNY 903,433,804.60 in the prior year, indicating an increase of around 116%[37] - The total comprehensive income for the first quarter was CNY 585,191,992.68, compared to CNY 339,353,920.39 in the previous year, reflecting a growth of about 72%[32] - The company reported investment income of CNY 8,390,908.82, significantly higher than CNY 2,861,266.82 from the previous year, indicating an increase of approximately 194%[31] Assets and Liabilities - The total assets at the end of the reporting period were ¥12,121,957,675.28, a slight increase of 0.74% from the end of the previous year[8] - The total current assets as of March 31, 2022, were CNY 4,223,056,899.58, up from CNY 4,106,734,298.10 at the end of 2021, indicating a growth of approximately 2.8%[22] - The total liabilities as of March 31, 2022, were CNY 2,503,654,337.16, down from CNY 3,008,083,466.11 in the previous year, showing a decrease of about 16.7%[27] - The total assets as of March 31, 2022, were CNY 12,121,957,675.28, slightly up from CNY 12,032,736,474.45 at the end of 2021, reflecting a growth of approximately 0.7%[27] - The cash and cash equivalents as of March 31, 2022, were CNY 1,299,873,967.32, down from CNY 1,614,532,956.66 at the end of 2021, indicating a decrease of about 19.4%[22] - The accounts receivable increased to CNY 879,101,992.98 in Q1 2022 from CNY 713,321,948.58 in Q1 2021, representing a growth of approximately 23.3%[22] - The inventory as of March 31, 2022, was CNY 1,102,339,338.50, slightly up from CNY 1,087,716,912.71 at the end of 2021, indicating an increase of about 1.4%[22] - The long-term equity investments increased to CNY 137,228,872.13 as of March 31, 2022, compared to CNY 119,999,347.52 in the previous year, reflecting a growth of approximately 14.3%[22] Operating Costs and Expenses - The total operating costs for Q1 2022 amounted to CNY 2,218,705,761.19, compared to CNY 1,267,889,698.32 in Q1 2021, reflecting an increase of about 74.8%[29] - The total operating expenses increased to CNY 2,022,357,176.60 from CNY 1,145,249,266.52, which is an increase of about 76%[37] - The company recorded a tax expense of CNY 104,307,102.25, compared to CNY 62,063,607.99 in the previous year, representing an increase of approximately 68%[31] - Research and development expenses rose to CNY 90,644,396.41, compared to CNY 56,356,737.62 in the previous year, marking an increase of about 61%[31] Cash Flow - The net cash flow from operating activities was negative at -¥63,082,304.91, indicating a non-applicable change[5] - The cash flow from operating activities showed a net outflow of CNY -63,082,304.91, an improvement from CNY -174,245,109.66 in the same quarter of the previous year[37] - Net cash flow from investing activities was -$60.25 million, an improvement from -$105.64 million year-over-year[38] - The net cash flow from financing activities was -$168.57 million, worsening from -$43.98 million year-over-year[38] - Cash inflow from financing activities totaled $82.84 million, down from $160 million in the previous period[38] - Cash outflow for debt repayment increased to $250.01 million, compared to $199 million last year[38] - The ending cash and cash equivalents balance was $1.29 billion, significantly up from $628.05 million in the previous year[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 53,164[13] - The company's first unlock period for the employee stock ownership plan allows for the unlocking of 3,500,000 shares, which is 35% of the total shares held under the plan, representing 0.25% of the company's total share capital[18] Revenue Drivers - The increase in revenue and profit was primarily driven by the production of ethylene dichloride and polyvinyl chloride (PVC) projects[10] - The company reported non-recurring gains of ¥5,635,217.41 for the period, after accounting for tax and minority interests[9] - The weighted average return on equity (ROE) was 6.27%, an increase of 1.99 percentage points compared to the previous year[5]