SCGS(SH:600678)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 81,558,480.69, representing an increase of 8.39% compared to the same period last year[5]. - The net profit attributable to shareholders decreased by 58.64% to CNY 8,470,419.11[5]. - The basic earnings per share for the period was CNY 0.0243, down by 58.60% year-on-year[6]. - The weighted average return on equity decreased by 8.47 percentage points to 3.44%[6]. - The company reported total operating revenue of CNY 81,558,480.69 for Q1 2022, an increase of 8.5% compared to CNY 75,245,222.66 in Q1 2021[25]. - Total operating costs for Q1 2022 were CNY 73,310,930.25, up 30.3% from CNY 56,246,361.48 in Q1 2021[25]. - The company's net loss for Q1 2022 was CNY 6,195.20, compared to a loss of CNY 26,004.54 in Q1 2021, indicating an improvement in investment performance[25]. - The net profit for Q1 2022 was CNY 8,256,615.27, a decrease of 60% compared to CNY 20,621,951.48 in Q1 2021[26]. - Operating profit for Q1 2022 was CNY 8,482,154.86, down from CNY 25,942,716.27 in the same period last year, reflecting a decline of approximately 67%[26]. - The total comprehensive income for Q1 2022 was CNY 8,256,615.27, a decrease of 60% compared to CNY 20,621,951.48 in Q1 2021[27]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 580,093,037.48, an increase of 1.88% from the end of the previous year[6]. - As of March 31, 2022, total assets amounted to CNY 580,093,037.48, a slight increase from CNY 569,415,236.75 at the end of 2021[24]. - The company’s total liabilities were CNY 325,915,835.50, slightly up from CNY 325,713,964.11 at the end of 2021[23]. - Non-current assets totaled CNY 511,929,879.26, an increase from CNY 502,638,791.11 at the end of 2021, indicating ongoing investment in long-term assets[22]. Cash Flow - Cash flow from operating activities decreased by 22.89% to CNY 10,968,872.78[5]. - Cash flow from operating activities for Q1 2022 was CNY 10,968,872.78, compared to CNY 14,225,254.19 in Q1 2021, indicating a decrease of about 23%[29]. - The net cash flow from investing activities for Q1 2022 was -CNY 10,029,240.56, compared to -CNY 5,110,781.45 in Q1 2021, indicating a worsening of investment cash flow[29]. - The net cash flow from financing activities for Q1 2022 was -CNY 830,500.02, an improvement from -CNY 4,332,500.00 in Q1 2021[29]. - Cash and cash equivalents at the end of Q1 2022 amounted to CNY 16,221,196.78, down from CNY 21,658,278.86 at the end of Q1 2021[29]. - The company's cash and cash equivalents stood at CNY 33,909,996.78, compared to CNY 33,455,213.26 at the end of 2021[21]. Operational Costs and Expenses - The company experienced a 33.84% increase in operating costs, primarily due to rising coal prices[10]. - Management expenses rose by 30.87%, mainly due to increased salaries and social security contributions[11]. - The company reported a significant decrease in investment income by 76.18%, attributed to reduced losses from associated companies[11]. - The company reported a decrease in tax expenses to CNY 14,185.35 in Q1 2022 from CNY 5,318,556.97 in Q1 2021, reflecting a significant reduction in tax liabilities[26]. Subsidiary and Guarantees - The company’s subsidiary, Sichuan Jinding Shun Mining Co., Ltd., has a loan principal balance of RMB 99,917,964.78 owed to Hailiang Metal Trading Group Co., Ltd., with Sichuan Jinding providing a guarantee for this loan[15]. - The company’s subsidiary has additional loans totaling RMB 40 million from Sichuan Emei Mountain Rural Commercial Bank and RMB 10 million from Leshan Sanjiang Rural Commercial Bank, with guarantees provided by Sichuan Jinding[16]. - As of the end of the reporting period, the total guarantee amount provided by Sichuan Jinding for the subsidiary's loans is RMB 156,002,909.30[16]. Shareholder and Legal Issues - The company’s major shareholder, Shenzhen Pusu Zhichun Investment Enterprise (Limited Partnership), has had its shares subject to judicial freezing[17]. - The company has received a final judgment from the Beijing High Court regarding a contract dispute involving its major shareholder, which dismissed all claims against the company[19]. - The company’s major shareholder has also faced additional judicial actions resulting in the freezing of shares, which were reported in various announcements[18]. - The company has disclosed its financial obligations and guarantees in multiple public announcements, ensuring transparency for investors[15][16]. - The company’s financial reports indicate a focus on managing debt and ensuring compliance with regulatory requirements related to shareholder actions[19]. - The company is actively monitoring its financial commitments and the implications of shareholder legal issues on its operations[19]. - The company emphasizes the importance of these financial disclosures for maintaining investor confidence and market integrity[15][19]. Inventory and Receivables - Accounts receivable decreased to CNY 2,982,750.98 from CNY 3,163,197.82 at the end of 2021, reflecting improved collection efforts[21]. - Inventory levels decreased significantly to CNY 5,795,009.01 from CNY 10,754,541.31, indicating better inventory management[22].