Nisco(SH:600282)2022-04-28 16:00Financial Performance - The company reported a revenue of CNY 17.05 billion for Q1 2022, representing a year-on-year increase of 0.62%[4] - Net profit attributable to shareholders decreased by 26.90% to CNY 716.20 million compared to the same period last year[4] - Total operating revenue for Q1 2022 was CNY 17,047,013,633.77, an increase of 0.62% compared to CNY 16,941,647,777.13 in Q1 2021[21] - Net profit for Q1 2022 was CNY 704,860,143.50, a decrease of 28.0% from CNY 978,353,406.78 in Q1 2021[23] - The company reported a total comprehensive income of CNY 816,828,986.66 for Q1 2022, compared to CNY 869,575,229.28 in Q1 2021[24] - Earnings per share for Q1 2022 were CNY 0.1165, down from CNY 0.1599 in Q1 2021[24] Cash Flow - The net cash flow from operating activities was CNY 446,194,038.96, down 17.8% from CNY 542,468,306.56 in the same period last year[26] - In Q1 2022, the cash inflow from operating activities was CNY 18,957,028,520.45, an increase of 6.9% compared to CNY 16,809,951,598.02 in Q1 2021[26] - The cash outflow from investing activities totaled CNY 4,155,565,010.12, an increase of 29.5% compared to CNY 3,207,625,263.05 in Q1 2021[26] - The net cash flow from investing activities was -CNY 3,209,783,682.56, worsening from -CNY 1,462,673,264.00 year-over-year[26] - The cash inflow from financing activities was CNY 8,007,378,027.38, up 5.1% from CNY 7,620,011,792.59 in Q1 2021[27] - The net cash flow from financing activities was CNY 2,461,491,963.88, an increase of 85.7% compared to CNY 1,325,219,176.71 in the previous year[27] - The total cash and cash equivalents at the end of Q1 2022 were CNY 2,698,007,292.96, down from CNY 3,880,475,582.63 at the end of Q1 2021[27] - The company experienced a negative impact of CNY 4,013,297.60 from exchange rate fluctuations on cash and cash equivalents[27] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 60.57 billion, an increase of 4.97% from the end of the previous year[4] - The company’s asset-liability ratio stood at 53.65%[7] - The total liabilities increased to CNY 32,495,284,437.36 in Q1 2022 from CNY 30,556,171,398.65 in Q1 2021, representing an increase of 6.36%[21] - The total liabilities increased to RMB 28,718,204,446.26 from RMB 27,281,421,882.11, indicating a growth of about 5.3%[20] - The company’s non-current assets totaled RMB 35,110,446,129.80, up from RMB 32,436,847,564.57, reflecting an increase of approximately 8.2%[20] - The company's short-term borrowings rose to RMB 7,912,581,746.54 from RMB 6,536,954,129.50, reflecting an increase of approximately 21%[20] Production and Sales - Steel production for the period was 2.54 million tons, a decrease of 3.88% year-on-year, while steel sales volume was 2.49 million tons, down 3.17%[7] - The average selling price of steel was CNY 4,999.20 per ton, reflecting an increase of 11.68% year-on-year[8] Research and Development - The company focused on enhancing R&D investment in advanced steel materials, leading to a profit contribution increase of CNY 1.04 billion from product structure optimization[7] - Research and development expenses increased significantly to CNY 457,371,132.22 in Q1 2022, compared to CNY 184,567,025.57 in Q1 2021, marking a growth of 147.0%[23] Shareholder Actions - The company completed the acquisition of Zhejiang Wansheng Co., Ltd., holding 174,305,939 shares, which accounts for 29.56% of the company, thus becoming its controlling shareholder[17] - The company issued 3,378,000 new unrestricted shares due to the stock option incentive plan, increasing the total share capital from 6,158,916,011 shares to 6,162,294,011 shares[16] - The company plans to increase its stake in the market through a share buyback plan, with a total investment of no less than RMB 100 million and not exceeding RMB 200 million within 12 months[13] Cost Management - The company implemented cost reduction measures, achieving a decrease in process costs by CNY 33.2 million year-on-year[7]