光明乳业(600597) - 2022 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2022 was CNY 7,246,234,781, representing a 3.68% increase compared to CNY 6,985,625,527 in the same period last year[5]. - Net profit attributable to shareholders was CNY 165,818,384, a significant increase of 65.93% from CNY 99,207,726 in the previous year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 139,560,960, reflecting a 104.97% increase compared to CNY 68,089,512 last year[5]. - Basic earnings per share increased by 50.00% to CNY 0.12 from CNY 0.08 in the previous year[7]. - The total operating revenue for Q1 2022 was RMB 7,246,234,781, an increase from RMB 6,989,074,161 in Q1 2021, representing a growth of approximately 3.7%[31]. - The net profit for Q1 2022 was RMB 186,995,976, significantly higher than RMB 86,558,389 in Q1 2021, reflecting an increase of approximately 116.5%[31]. - The total comprehensive income attributable to the parent company for the first quarter of 2022 was 160,493,509 RMB, up from 11,794,651 RMB in the first quarter of 2021[33]. - Basic and diluted earnings per share for the first quarter of 2022 were both 0.12 RMB, compared to 0.08 RMB in the first quarter of 2021, reflecting a 50% increase[33]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 111,850,305, a recovery from a negative cash flow of CNY -182,119,665 in the same period last year[5]. - The net cash flow from operating activities for the first quarter of 2022 was 111,850,305 RMB, compared to a negative cash flow of -185,317,974 RMB in the same period last year[33]. - The cash and cash equivalents decreased to RMB 2,816,849,506 from RMB 3,206,113,341, a decline of about 12.1%[25]. - The cash and cash equivalents at the end of the first quarter of 2022 were 2,816,849,506 RMB, a decrease from 2,032,174,906 RMB at the end of the first quarter of 2021[35]. - The net cash flow from investing activities for the first quarter of 2022 was -420,711,597 RMB, compared to -306,673,312 RMB in the same period last year[35]. - The cash flow from financing activities for the first quarter of 2022 resulted in a net outflow of -77,419,163 RMB, an improvement from -434,212,034 RMB in the first quarter of 2021[35]. - The company reported a total cash inflow from operating activities of 8,791,576,988 RMB, while cash outflow was 8,679,726,683 RMB, leading to a positive net cash flow[33]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 24,029,979,520, up 2.47% from CNY 23,450,401,026 at the end of the previous year[9]. - The company's total assets as of March 31, 2022, amounted to RMB 24,029,979,520, up from RMB 23,450,401,026 at the end of 2021, showing a growth of about 2.5%[27]. - The total liabilities increased to RMB 13,431,486,392 in Q1 2022 from RMB 13,098,498,836 in Q4 2021, representing an increase of approximately 2.5%[27]. - The total equity attributable to shareholders of the parent company was RMB 8,024,130,263 as of March 31, 2022, compared to RMB 7,860,659,338 at the end of 2021, reflecting an increase of about 2.1%[27]. Operational Metrics - The total operating costs for Q1 2022 were RMB 7,041,109,713, compared to RMB 6,871,601,185 in Q1 2021, indicating an increase of about 2.5%[31]. - The company experienced an increase in gross margin, contributing to the rise in net profit and earnings per share[13]. - Research and development expenses for Q1 2022 were RMB 16,760,085, down from RMB 21,610,674 in Q1 2021, reflecting a decrease of about 22.5%[31]. - The company reported a significant increase in sales expenses, which rose to RMB 964,769,907 in Q1 2022 from RMB 876,105,828 in Q1 2021, an increase of approximately 10.0%[31]. - The inventory as of March 31, 2022, was RMB 3,445,751,503, an increase from RMB 3,114,510,306 at the end of 2021, indicating a growth of approximately 10.6%[25]. Shareholder Information - The top shareholder, Bright Food (Group) Co., Ltd., holds 51.63% of the shares, totaling 711,860,596 shares[14]. - The company completed the acquisition of 100% equity in Shanghai Dingying Agricultural Co., Ltd. and Dafeng Dingsheng Agricultural Co., Ltd. in April 2021, which has been consolidated into the financial statements[9]. Foreign Currency Impact - The company experienced a foreign currency translation loss of -30,170,364 RMB in the first quarter of 2022, compared to -46,571,054 RMB in the same period last year[33].