SHYNDEC(SH:600420)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥3,244,221,809.47, representing a decrease of 17.42% compared to the same period last year[4]. - Net profit attributable to shareholders was ¥77,630,695.05, down 64.83% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥66,126,346.76, a decline of 69.56% compared to the previous year[4]. - Basic earnings per share decreased by 64.82% to ¥0.0756, while diluted earnings per share fell by 63.14% to ¥0.0689[4]. - The net profit for Q1 2022 was ¥136,080,784.29, a decline of 53.3% from ¥290,590,309.58 in Q1 2021[27]. - The total comprehensive income for Q1 2022 was ¥136,478,028.78, down from ¥291,109,374.47 in Q1 2021[27]. - The net profit for Q1 2022 was ¥157,778,946.29, compared to ¥49,724,954.57 in Q1 2021, indicating an increase of about 217.5%[45]. - The total comprehensive income for Q1 2022 was ¥158,176,190.78, up from ¥50,244,019.46 in Q1 2021, reflecting a growth of approximately 214.5%[47]. Cash Flow - The net cash flow from operating activities increased by 296.93%, amounting to ¥416,829,177.52[4]. - The cash flow from operating activities for Q1 2022 was ¥416,829,177.52, significantly higher than ¥105,013,866.79 in Q1 2021[32]. - The net cash outflow from operating activities was ¥2,427,768,746.96 in Q1 2022, compared to ¥3,200,023,742.69 in Q1 2021, indicating improved cash management[32]. - The company's net cash flow from investing activities for Q1 2022 was -131,057,104.54 RMB, an improvement from -198,256,149.20 RMB in Q1 2021, indicating a reduction in cash outflow by approximately 34%[34]. - The company reported a net cash flow from operating activities of ¥165,216,144.86 in Q1 2022, a turnaround from a negative cash flow of -¥27,101,101.63 in Q1 2021[49]. - Cash inflow from investment activities in Q1 2022 was ¥623,405,400.08, compared to ¥43,589,502.31 in Q1 2021, showing a substantial increase[49]. Assets and Liabilities - Total assets at the end of the reporting period were ¥19,489,848,335.51, an increase of 2.20% from the end of the previous year[4]. - Current assets increased to ¥11,412,903,417.95 as of March 31, 2022, up from ¥10,886,446,261.52 at the end of 2021, representing a growth of 4.8%[17]. - Total liabilities increased to ¥8,986,618,580.62 as of March 31, 2022, compared to ¥8,700,102,902.92 at the end of 2021, marking a rise of 3.3%[20]. - The total liabilities of the company as of March 31, 2022, were 4,512,917,942.49 RMB, a decrease from 4,685,533,578.22 RMB at the end of 2021, reflecting a reduction of approximately 3.7%[42]. - The company's total assets as of March 31, 2022, were 12,054,370,710.72 RMB, a slight decrease from 12,068,740,756.17 RMB at the end of 2021, reflecting a reduction of about 0.1%[41]. Operational Challenges - The decline in net profit was attributed to logistics issues, supply shortages, and rising production costs due to raw material price increases[8]. - The company faced production disruptions and reduced sales of key products due to the impact of the pandemic on its facilities in Jilin, Shanghai, and Shenzhen[8]. Expenses - Research and development expenses for Q1 2022 were ¥116,995,102.84, a slight decrease from ¥126,219,062.88 in Q1 2021[24]. - The sales expenses for Q1 2022 were ¥824,286,318.36, down 22.4% from ¥1,062,622,750.84 in Q1 2021[24]. - The company's management expenses decreased to ¥10,369,937.95 in Q1 2022 from ¥21,041,627.09 in Q1 2021, a reduction of approximately 50.7%[45]. - R&D expenses were reduced to ¥18,962,920.22 in Q1 2022 from ¥29,577,910.73 in Q1 2021, representing a decrease of about 35.8%[45]. - The company reported a financial expense of ¥24,025,326.04 in Q1 2022, compared to ¥20,158,463.67 in Q1 2021, an increase of approximately 19.1%[45]. Financing Activities - The company raised ¥1,200,000,000.00 through borrowings in Q1 2022, significantly higher than the ¥200,000,000.00 raised in Q1 2021[50]. - The total cash outflow from financing activities in Q1 2022 was ¥1,489,092,924.94, compared to ¥219,972,453.30 in Q1 2021, indicating a substantial increase in financing activities[50].