红豆股份(600400) - 2022 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2022 was ¥643,596,789.32, representing a year-on-year increase of 10.92% [6] - The net profit attributable to shareholders of the listed company was ¥29,887,996.86, a decrease of 41.03% compared to the same period last year [6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥24,048,825.44, down 48.98% year-on-year [6] - Basic and diluted earnings per share were both ¥0.01, reflecting a decline of 50.00% year-on-year [6] - The company's operating profit decreased to 38.45 million from 64.59 million, representing a decline of approximately 40.5% year-over-year [37] - Net profit attributable to shareholders decreased to 29.89 million from 50.68 million, a drop of about 41.0% compared to the previous year [37] - The total comprehensive income for the period was 9.45 million, contrasting with a loss of 9.68 million in the same quarter last year [37] - The company reported a net profit margin improvement, with net profit for Q1 2022 reflecting a positive trend compared to the previous year [34] - The company reported a tax expense of 6.52 million, down from 14.08 million, indicating a reduction of approximately 53.8% [37] Cash Flow and Assets - The net cash flow from operating activities was -¥123,841,908.29, a decrease of 6.75% compared to the previous year [6] - Cash flow from operating activities showed a net outflow of 123.84 million, compared to an outflow of 116.01 million in the previous year [39] - Cash flow from investing activities generated a net inflow of 103.16 million, significantly up from 33.93 million year-over-year [41] - Cash and cash equivalents at the end of the period stood at 839.03 million, an increase from 713.75 million at the end of the previous year [41] - The company's cash and cash equivalents decreased to 912,896,921.02 from 997,285,494.46, a decline of 8.5% [26] - Total assets at the end of the reporting period were ¥4,731,368,152.02, down 3.29% from the end of the previous year [9] - Current assets totaled 1,852,109,466.60 as of March 31, 2022, slightly up from 1,830,731,858.93 at the end of 2021 [29] - Total liabilities decreased to 1,506,286,796.92 as of March 31, 2022, from 1,639,630,709.40 at the end of 2021 [32] - The equity attributable to shareholders increased to 3,156,055,046.67 from 3,135,007,564.23, reflecting a growth of 0.7% [32] Revenue Breakdown - The total revenue for HOdo men's clothing reached RMB 39,655.37 million, with a gross margin of 53.48%, reflecting a year-over-year decrease of 4.54% in revenue [19] - The total revenue from OEM clothing was RMB 21,803.06 million, with a gross margin of 8.00%, showing a significant year-over-year increase of 103.83% in revenue [19] - The overall revenue for the company was RMB 61,458.43 million, with a gross margin of 37.35%, representing a year-over-year increase of 17.65% in revenue [19] - Online sales contributed RMB 15,112.61 million, accounting for 24.59% of total revenue, with a gross margin of 46.37% [20] - Offline sales generated RMB 46,345.82 million, making up 75.41% of total revenue, with a gross margin of 34.40% [20] Operational Changes - The company opened 3 new direct-operated stores and 4 franchise stores, while closing 10 direct-operated stores and 24 franchise stores, resulting in a total of 974 physical stores by the end of the reporting period [21] - The company’s subsidiary, Jiaxing Hodo, reduced its shareholding in Shenzhen Lihe Kechuang Co., Ltd. by 14,602,600 shares, generating a net profit of RMB 32.21 million [22] - The company approved a capital reduction for its subsidiary Jiaxing Hodo from RMB 220 million to RMB 100 million, aligning the registered capital with actual business scale [22] - The company granted 11.65 million restricted stock options to 36 eligible participants as part of its incentive plan, with the registration capital changing to RMB 2,303,021,852 [25] - The company established a wholly-owned subsidiary, Wuxi Hodo Red E-commerce Co., Ltd., with an investment of RMB 1 million, which has completed its business registration [25] Cost and Expenses - Total operating costs for Q1 2022 were 624,838,779.46, up 18.9% from 525,166,536.15 in Q1 2021 [34] - Research and development expenses increased to 5,976,672.84 in Q1 2022, compared to 2,614,707.40 in Q1 2021, reflecting a growth of 128.5% [34] - The decline in net profit was attributed to the impact of COVID-19 in multiple regions, leading to increased consulting and advertising expenses [10]