Fynex Textile(SH:600493)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 264,431,004.95, representing a 15.00% increase compared to the same period last year [5] - The net profit attributable to shareholders decreased by 3.66% to CNY 4,701,304.42, while the net profit after deducting non-recurring gains and losses dropped by 49.18% to CNY 3,452,712.78 [5] - The total revenue for the first quarter of 2022 was not explicitly stated, but the company reported significant changes in various financial metrics, indicating a focus on improving operational efficiency [24] - The net profit for Q1 2022 was ¥1,073,290.86, down 76.0% from ¥4,473,736.55 in Q1 2021 [35] - Basic and diluted earnings per share for Q1 2022 were both ¥0.0173, a decrease from ¥0.0179 in Q1 2021 [26] Cash Flow - The net cash flow from operating activities was negative at CNY -29,039,295.66, indicating cash outflow during the quarter [5] - In Q1 2022, the cash inflow from operating activities was CNY 393,148,500.22, a significant increase of 78% compared to CNY 220,839,862.91 in Q1 2021 [36] - The net cash flow from operating activities turned positive at CNY 71,342,629.79, compared to a negative CNY 58,030,253.03 in the same period last year [36] - Cash flow from operating activities showed a net outflow of ¥29,039,295.66 in Q1 2022, improving from a net outflow of ¥41,847,139.08 in Q1 2021 [29] - The cash inflow from financing activities was CNY 94,062,454.56, a substantial increase from CNY 29,500,000.00 in Q1 2021, representing a 218% growth [38] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,014,160,425.31, down 4.67% from the end of the previous year [6] - The company's current assets totaled CNY 947,870,795.55, down from CNY 1,084,184,819.26, indicating a decrease of about 12.56% [22] - The total liabilities decreased to CNY 1,173,447,313.58 from CNY 1,277,358,284.08, reflecting a decrease of approximately 8.14% [23] - The total assets decreased to ¥1,935,118,981.73 as of March 31, 2022, from ¥2,015,252,104.01 at the end of 2021 [33] - The company's cash and cash equivalents were ¥142,093,694.44 as of March 31, 2022, compared to ¥163,886,095.87 at the end of 2021 [31] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,413 [9] - The top three shareholders held a combined 28.96% of the company's shares, with the largest shareholder owning 10.72% [9] Investments and Projects - The total investment for the new factory project in Fujian Jinjiang Economic Development Zone is approximately RMB 850 million, increased from the original RMB 650 million [11] - The new factory has been completed and is now in the process of obtaining completion certificates, with the main dyeing production line officially in operation, stabilizing the original capacity from the old factory [12] - The Henan Anyang project has completed land reserve matters with a total of 424.08 acres acquired for the project [15] - The investment for the "Henan Fengzhu (Anyang) 30,000 tons dyeing project" is estimated to be around RMB 300 million, with the main structure of the dyeing workshop already capped [15] Operational Efficiency and Strategy - The company is focused on enhancing its market share and operational scale through the new factory's production capabilities [12] - The company is committed to environmental compliance and adapting to new regulations in the dyeing industry as part of its strategic initiatives [14] - The company has authorized management to handle the transfer of equity and land use rights to alleviate financial pressure and enhance liquidity [16] Research and Development - Research and development expenses increased to ¥7,811,664.99 in Q1 2022, up 54% from ¥5,058,996.72 in Q1 2021 [25] - Research and development expenses for Q1 2022 were ¥5,383,666.27, up from ¥3,074,328.74 in Q1 2021, indicating a focus on innovation [34]