XTAD(SH:600359)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 183,504,471.35, representing a decrease of 4.03% compared to the same period last year[5]. - Net profit attributable to shareholders of the listed company reached CNY 46,815,904.86, an increase of 104.61% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 45,358,625.69, reflecting a growth of 135.73% compared to the previous year[5]. - The net profit for Q1 2022 was CNY 48,024,094.01, a significant increase from CNY 22,461,162.88 in Q1 2021, representing a growth of approximately 113%[18]. - Operating profit for Q1 2022 reached CNY 48,103,838.02, compared to CNY 23,346,616.62 in the same period last year, indicating a year-over-year increase of about 106%[18]. - Total comprehensive income for Q1 2022 was CNY 47,670,075.40, compared to CNY 22,385,200.26 in Q1 2021, showing an increase of approximately 113%[19]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 123,087,745.10, showing a significant increase of 264.60% year-on-year[5]. - Cash flow from operating activities for Q1 2022 was CNY 123,087,745.10, a substantial rise from CNY 33,759,848.35 in Q1 2021, marking an increase of about 264%[23]. - The total cash and cash equivalents at the end of Q1 2022 amounted to CNY 165,034,564.69, up from CNY 86,035,393.35 at the end of Q1 2021, representing an increase of about 92%[23]. - The company reported a net cash outflow from financing activities of CNY 71,729,180.11 in Q1 2022, compared to a net outflow of CNY 33,672,798.84 in Q1 2021[23]. Earnings and Shareholder Returns - Basic earnings per share for the period was CNY 0.12, which is a 100% increase compared to the same period last year[6]. - Basic and diluted earnings per share for Q1 2022 were both CNY 0.12, doubling from CNY 0.06 in Q1 2021[19]. - The weighted average return on equity increased by 4.05 percentage points to 8.69%[6]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,818,986,879.90, a decrease of 1.30% from the end of the previous year[6]. - Total assets as of March 31, 2022, were CNY 1,818,986,879.90, a slight decrease from CNY 1,842,949,365.97 at the end of 2021[14]. - Total liabilities decreased to CNY 1,243,659,653.27 from CNY 1,315,341,214.74 at the end of 2021, reflecting a reduction of 5.4%[15]. - The company's equity attributable to shareholders increased to CNY 562,245,508.71 from CNY 515,783,622.46 at the end of 2021, an increase of 8.9%[15]. - Non-current assets totaled CNY 1,010,003,294.60, up from CNY 987,017,435.51 at the end of 2021, indicating a growth of 2.6%[14]. - Short-term borrowings decreased to CNY 535,497,597.23 from CNY 600,766,029.00, a decline of 10.8%[14]. Sales and Revenue - The increase in net profit was primarily due to the increase in sales volume and gross profit margin of cotton seeds from Tar River Seed Industry Company[8]. - The company continues to implement a "payment before delivery" sales policy, which has led to improved cash flow from operating activities[8]. - Sales revenue from goods and services received in cash for Q1 2022 was CNY 191,764,148.60, significantly higher than CNY 94,082,125.52 in Q1 2021, indicating an increase of approximately 103%[21]. Costs and Expenses - Total operating costs for Q1 2022 were CNY 135,849,728.69, down 21.0% from CNY 172,169,844.29 in Q1 2021[17]. - Research and development expenses increased to CNY 2,594,751.19 in Q1 2022 from CNY 1,976,876.38 in Q1 2021, reflecting a growth of approximately 31%[18]. - The company incurred tax expenses of CNY 916,842.29 in Q1 2022, compared to CNY 1,004,945.85 in Q1 2021, reflecting a decrease of about 9%[18]. Inventory and Receivables - Accounts receivable rose to CNY 15,950,005.83, up 23.0% from CNY 12,955,455.59 at the end of 2021[13]. - Inventory decreased to CNY 407,405,116.21, down 9.0% from CNY 447,968,263.16 at the end of 2021[13]. - Cash and cash equivalents increased to CNY 187,318,677.70 as of March 31, 2022, compared to CNY 161,297,176.83 at the end of 2021, representing a growth of 16.1%[13].