XINSAI CO.,LTD(SH:600540)2022-04-27 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥122,554,707.83, representing a decrease of 77.72% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥17,308,004.13, a decline of 403.39% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥15,504,917.59, down 436.65% from the previous year[5]. - The net cash flow from operating activities was ¥25,397,407.74, a decrease of 93.51% compared to the same period last year[5]. - Basic and diluted earnings per share were both -¥0.0298, reflecting a decline of 346.28% year-on-year[5]. - The company reported a net loss of CNY -825,501,840.43 for Q1 2022, compared to a loss of CNY -808,193,836.30 in Q1 2021[23]. - The net profit for Q1 2022 was a loss of CNY 18,311,917.75, compared to a profit of CNY 5,186,905.31 in Q1 2021[27]. - The company reported sales revenue of CNY 98,292,804.07 in Q1 2022, a decline from CNY 485,241,304.85 in Q1 2021[29]. Assets and Liabilities - Total assets increased by 17.13% to ¥2,904,512,242.56, primarily due to funds raised from a targeted stock issuance[10]. - Current assets increased to CNY 2,077,014,135.18 as of March 31, 2022, up from CNY 1,645,469,296.70 at the end of 2021, representing a growth of 26.25%[22]. - Total liabilities decreased to CNY 1,873,724,053.97 from CNY 1,984,820,862.89, a reduction of 5.61%[23]. - The company's total assets reached CNY 2,904,512,242.56, up from CNY 2,479,647,394.03, indicating an increase of 17.06%[23]. - The equity attributable to shareholders increased to CNY 1,048,688,019.00 from CNY 511,722,447.93, reflecting a growth of 105.91%[23]. - Inventory decreased to CNY 1,027,984,120.94 from CNY 1,125,678,904.69, a decline of 8.69%[22]. - Short-term borrowings decreased to CNY 1,534,170,000.00 from CNY 1,585,708,786.59, a decrease of 3.24%[22]. - Non-current liabilities decreased to CNY 36,722,472.66 from CNY 40,220,800.09, a decline of 8.93%[23]. Fundraising and Capital Structure - The company raised a total of RMB 560 million through a private placement of 110,453,647 shares at a price of RMB 5.07 per share[16]. - The net proceeds from the fundraising after deducting related expenses amounted to RMB 554 million[16]. - The company's total assets and net assets increased after the issuance, while the debt-to-asset ratio decreased, enhancing capital strength and optimizing capital structure[17]. - The company's share capital increased from 470,923,313 shares to 581,376,960 shares following the issuance[17]. - The funds raised are intended for the expansion of Hubei New Sai Agricultural Products Logistics Co., Ltd. and the dedicated line expansion project for Huo County Keli Coal Logistics Distribution Co., Ltd.[17]. Market Conditions and Strategic Response - The significant decline in revenue and profit was mainly due to weak market conditions for cotton, leading to a substantial decrease in sales volume compared to the previous year[9]. - The company reported a loss of ¥1,941,992.75 from futures trading in cotton, contributing to the overall financial downturn[8]. - The company is actively seeking new growth points due to slowing performance growth influenced by macroeconomic conditions and the COVID-19 pandemic[14]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 41,757[12]. - Xinjiang Aibi Lake Investment Co., Ltd. holds 198,602,959 shares, accounting for 34.16% of the total shares[13]. - The company's major shareholders and actual controllers remained unchanged after the issuance[17]. Management Changes - The independent director's term expired, and a new independent director was appointed on March 18, 2022[18].