Tsingtao Brewery(SH:600600)2022-04-28 16:00Financial Performance - The total revenue for Q1 2022 was RMB 9,208,137,288, representing a year-on-year increase of 3.14%[2] - The net profit attributable to shareholders was RMB 1,126,228,090, reflecting a growth of 10.20% compared to the same period last year[2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 1,021,784,840, an increase of 17.14% year-on-year[3] - Total operating revenue for Q1 2022 was 9,208,137,288, an increase of 3.14% compared to 8,927,731,306 in Q1 2021[12] - Net profit for Q1 2022 reached 1,152,465,765, compared to 1,054,731,323 in Q1 2021, representing a growth of 9.30%[13] - The company reported a comprehensive income total of 1,153,501,790 for Q1 2022, compared to 1,054,160,288 in Q1 2021, marking an increase of 9.47%[13] Sales and Production - The total product sales volume reached 2.129 million kiloliters, with the main brand Qingdao Beer achieving sales of 1.304 million kiloliters, a year-on-year growth of 5.1%[3] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 62.14% to RMB 933,619,727 due to increased revenue recognition from advance receipts[5] - Cash inflow from operating activities for Q1 2022 was approximately ¥8.24 billion, a decrease of 8% from ¥8.95 billion in Q1 2021[14] - Total cash outflow from operating activities increased to approximately ¥7.31 billion, compared to ¥6.49 billion in Q1 2021[14] - Cash received from sales of goods and services was approximately ¥8.07 billion, compared to ¥8.69 billion in the same period last year[14] - Cash and cash equivalents decreased to CNY 12,818,371,932 from CNY 14,597,590,313 year-over-year[8] - The company's cash and cash equivalents at the end of Q1 2022 stood at approximately ¥10.07 billion, down from ¥11.35 billion at the end of Q1 2021[15] Assets and Liabilities - The total assets at the end of the reporting period were RMB 46,988,567,972, a slight increase of 0.91% from the end of the previous year[3] - Total liabilities decreased to 22,012,833,646 from 22,769,313,149, a reduction of approximately 3.32%[10] - Total equity increased to 24,975,734,326 from 23,793,691,342, reflecting a growth of 4.97%[10] - The company's inventory decreased significantly to CNY 2,569,558,659 from CNY 3,492,997,857[9] - Total non-current assets increased to CNY 17,889,391,964 from CNY 17,604,385,081[9] - Short-term borrowings surged to CNY 743,828,661 from CNY 245,780,575[9] - Accounts payable increased to CNY 3,634,507,468 from CNY 3,127,872,424[9] - Contract liabilities decreased to CNY 5,993,637,031 from CNY 8,123,275,272[9] Research and Development - Research and development expenses increased by 49.33% due to higher investment in new product development[5] - Research and development expenses for Q1 2022 were 5,802,826, up 49.3% from 3,885,806 in Q1 2021[12] Government Support and Market Strategy - The company received government subsidies amounting to RMB 85,255,217 related to daily operations[4] - The company is actively expanding its market presence, particularly focusing on the Beijing 2022 Winter Olympics to enhance brand influence[3] Shareholder Information - The company reported a total of 68,983,919 shares held by its subsidiaries, representing approximately 5.06% of the total share capital[7] - The company did not participate in margin financing or securities lending during the reporting period[7]