CORUN(SH:600478)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥541,106,326.98, representing an increase of 11.76% compared to the same period last year [6] - Net profit attributable to shareholders was ¥31,575,068.80, showing a significant increase of 169.93% year-on-year [6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥23,712,619.86, reflecting a substantial increase of 412.38% compared to the previous year [6] - The basic and diluted earnings per share were both ¥0.019, which is a 169.93% increase from the previous year [9] - Total operating revenue for Q1 2022 was CNY 541,106,326.98, an increase of 11.8% compared to CNY 484,148,470.82 in Q1 2021 [36] - Net profit for Q1 2022 was CNY 22,175,533.14, compared to CNY 1,545,721.38 in Q1 2021, indicating a significant increase [36] - Total comprehensive income attributable to the parent company reached CNY 18,623,124.23, a significant increase from CNY 1,029,832.86 in the previous year [38] Assets and Liabilities - The total assets at the end of the reporting period were ¥6,463,631,958.65, an increase of 2.14% from the end of the previous year [9] - The total liabilities increased to CNY 3,398,156,114.73 in Q1 2022 from CNY 3,269,701,351.56 in Q1 2021, representing a growth of 3.9% [32] - The total equity attributable to shareholders rose to CNY 2,626,384,796.93 in Q1 2022, compared to CNY 2,609,433,935.84 in Q1 2021, an increase of 0.6% [32] - The company's long-term equity investments rose to RMB 730,700,625.81 from RMB 684,977,915.81, marking an increase of approximately 6.7% [27] Cash Flow - The net cash flow from operating activities was ¥147,863,359.14, which is not applicable for comparison [6] - Net cash flow from operating activities was CNY 147,863,359.14, a turnaround from a negative cash flow of CNY -11,774,937.52 in the same period last year [42] - Cash and cash equivalents at the end of the period amounted to CNY 810,949,499.50, up from CNY 697,221,434.20 at the end of the previous year [43] - The net increase in cash and cash equivalents for the period was CNY 117,166,051.77, compared to CNY 56,365,041.01 in the same quarter last year [43] Operational Efficiency - The weighted average return on net assets increased to 1.23%, up by 0.77 percentage points from the previous year [9] - The company reported a decrease in accounts receivable from RMB 459,374,761.74 in 2021 to RMB 302,597,862.31 in Q1 2022, a reduction of approximately 34% [27] - Research and development expenses decreased to CNY 14,702,011.97 in Q1 2022 from CNY 17,979,510.73 in Q1 2021, a decline of 18.5% [36] - The company reported a decrease in sales expenses to CNY 3,497,530.76 in Q1 2022 from CNY 6,964,215.68 in Q1 2021, a reduction of 49.8% [36] Strategic Initiatives - The company is focusing on strategic adjustments to return to its core battery business, particularly in nickel-hydrogen and lithium battery technologies [19] - A joint venture was established with Guangdong Keli Yuan High-Tech Holdings to develop a new energy storage market, enhancing the company's competitive edge in hybrid energy storage systems [22] - The company has signed an investment agreement with strategic partners to expand its hybrid power system business, aiming to enhance operational quality and business scale [21] - The company is actively pursuing partnerships to optimize resource allocation and improve the quality of its battery operations [21] - The company has introduced new strategies to enhance its market presence in the energy storage and new energy vehicle sectors [19]