GSMG(SH:600543)2022-04-27 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥27,904,489.29, representing a decrease of 14.88% compared to the same period last year[5] - The net profit attributable to shareholders was -¥9,502,270.42, a decrease of ¥3,668,300 compared to the previous year, primarily due to a sluggish wine consumption market and rising raw material costs[7] - The net profit for Q1 2022 was -10,680,606.57 RMB, compared to -6,896,524.27 RMB in Q1 2021, representing an increase in net loss of approximately 55.5% year-over-year[19] - The company reported a net loss for Q1 2022, with a significant increase in operating costs impacting profitability[18] - Total comprehensive income for Q1 2022 was -10,680,606.57 RMB, compared to -6,896,524.27 RMB in Q1 2021, indicating a worsening financial position[20] Cash Flow and Liquidity - The cash flow from operating activities was -¥45,562,108.55, with a significant decline in cash received from sales by 28.68% and an increase in cash paid for raw materials by 134.83%[10] - The company's cash and cash equivalents decreased to CNY 191,598,661.15 as of March 31, 2022, down from CNY 240,064,083.57 at the end of 2021, representing a decline of 20.1%[15] - Operating cash flow for Q1 2022 was -45,562,108.55 RMB, a significant decline from 1,354,451.85 RMB in Q1 2021[22] - The company reported a net cash outflow from investing activities of -2,903,313.87 RMB in Q1 2022, compared to -197,911,252.32 RMB in Q1 2021[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,184,402,713.52, down 1.38% from the end of the previous year[7] - Total assets decreased to CNY 1,184,402,713.52 from CNY 1,200,995,636.74, a decline of 1.4%[16] - Total liabilities decreased to CNY 143,910,223.95 from CNY 149,822,540.60, a reduction of 4%[17] - The company's equity attributable to shareholders decreased to CNY 1,064,137,024.71 from CNY 1,073,639,295.13, a decrease of 0.7%[17] Sales and Revenue Breakdown - The sales revenue from the wine business was ¥15,510,800, down 7.64% year-on-year, while the pharmaceutical segment saw a 33.84% increase in sales revenue to ¥3,148,800[7] - Total revenue from sales and services received in Q1 2022 was 30,940,945.50 RMB, down 28.6% from 43,381,398.60 RMB in Q1 2021[21] - The company's sales expenses for Q1 2022 were 14,217,616.58 RMB, a decrease of 15.8% from 16,886,117.93 RMB in Q1 2021[19] Research and Development - The company's R&D expenses increased by 36.98%, indicating a focus on enhancing product development[10] - Research and development expenses increased to 148,219.50 RMB in Q1 2022 from 108,203.86 RMB in Q1 2021, reflecting a growth of 37%[19] Operational Challenges - The weighted average return on equity was -0.89%, reflecting ongoing operational challenges[5] - The company is focusing on improving operational efficiency and exploring new market opportunities to enhance future growth[18] - The company incurred total operating expenses of 86,688,139.91 RMB in Q1 2022, which is a 93.1% increase compared to 44,891,624.94 RMB in Q1 2021[21] - The net profit margin was not applicable due to the negative net profit reported[5]