GZRS(SH:600367)2022-04-27 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 594,653,765.48, representing a year-on-year increase of 56.06%[5] - The net profit attributable to shareholders of the listed company reached CNY 83,432,004.30, a significant increase of 553.10% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 82,507,683.94, reflecting a year-on-year increase of 668.02%[5] - The basic earnings per share for the period was CNY 0.287, up 552.27% year-on-year[5] - Operating profit for Q1 2022 was ¥107,187,630.09, up from ¥18,445,382.47 in Q1 2021, reflecting a growth of 480.5%[27] - Net profit attributable to shareholders of the parent company for Q1 2022 was ¥83,432,004.30, compared to ¥12,774,787.40 in Q1 2021, marking an increase of 553.5%[28] - Basic and diluted earnings per share for Q1 2022 were both ¥0.287, compared to ¥0.044 in Q1 2021, reflecting a growth of 552.3%[29] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,414,766,472.02, an increase of 3.09% from the end of the previous year[5] - The total number of common shareholders at the end of the reporting period was 48,020[14] - The largest shareholder, Qingdao Hongxing Chemical Group Co., Ltd., holds 105,067,336 shares, accounting for 35.83% of total shares[15] - The company's cash and cash equivalents decreased to ¥403,590,476.77 from ¥427,201,428.68 at the end of 2021, a decline of approximately 5.5%[20] - Accounts receivable increased to ¥353,253,919.81 from ¥270,700,160.98, representing a growth of about 30.5% year-over-year[20] - Inventory rose to ¥459,690,298.32, up from ¥436,954,136.69, indicating an increase of approximately 5.2%[20] - Current liabilities decreased slightly to ¥557,830,687.07 from ¥584,811,385.58, a reduction of about 4.6%[22] - Total liabilities decreased to ¥584,270,296.68 in Q1 2022 from ¥611,677,267.63 in Q1 2021, a reduction of 4.8%[23] - The total equity attributable to shareholders of the parent company increased to ¥1,726,040,977.48 in Q1 2022 from ¥1,641,048,161.31 in Q1 2021, an increase of 5.2%[23] Cash Flow - The net cash flow from operating activities was negative at CNY -35,218,180.45, indicating a decrease compared to the previous year[5] - The company reported a net cash inflow from operating activities of ¥413,638,288.43 in Q1 2022, compared to ¥271,803,744.70 in Q1 2021, representing a growth of 52.1%[31] - The net cash flow from operating activities was -$35.22 million, compared to -$22.79 million in the previous year, indicating a decline in operational performance[32] - Total cash outflow from operating activities amounted to $448.86 million, up from $294.60 million year-over-year[32] - Cash inflow from financing activities was $36.20 million, a decrease from $40.00 million in the previous year[33] - The net cash flow from financing activities was $18.68 million, compared to -$1.65 million in the previous year, showing an improvement[33] - The company raised $6.20 million from minority shareholders during the quarter, which was not present in the previous year[33] - Cash and cash equivalents at the end of the period totaled $381.06 million, down from $404.67 million at the beginning of the period[33] - The cash flow from investment activities was negative at -$7.20 million, compared to -$15.50 million in the previous year, indicating reduced investment outflows[32] - The company paid $10.00 million in debt repayment, down from $40.00 million in the previous year, reflecting a decrease in debt servicing[33] - The company experienced a net decrease in cash and cash equivalents of $23.61 million, compared to a decrease of $39.84 million in the previous year[33] Operational Challenges and Strategies - The company experienced a significant increase in sales prices of key products such as barium carbonate and lithium carbonate, contributing to revenue growth[11] - The company faced challenges in sourcing barite for barium salt production due to reduced upstream mining activity, leading to increased procurement costs[17] - The company implemented measures to expand ore supply channels and adjust sales strategies to mitigate risks associated with increased production costs[17] Government Support - The company received government subsidies totaling CNY 1,581,077.12 during the reporting period, which included various project funds[8] Research and Development - Research and development expenses increased to ¥767,316.55 in Q1 2022 from ¥12,427.55 in Q1 2021, indicating a significant investment in innovation[26] Asset Quality - The company reported a credit impairment loss of ¥-7,072,185.48 in Q1 2022, compared to a gain of ¥1,838,228.39 in Q1 2021, indicating a shift in asset quality[27] - Deferred income tax liabilities decreased to ¥1,785,008.37 in Q1 2022 from ¥1,859,530.80 in Q1 2021, a decline of 4.0%[23]