2022-04-28 16:00Financial Performance - In Q1 2022, the company achieved revenue of CNY 60.25 billion, a 10.0% increase compared to CNY 54.77 billion in the same period last year[5] - The net profit attributable to shareholders was CNY 3.52 billion, reflecting a 15.1% growth from CNY 3.05 billion year-on-year[5] - The gross profit margin for Q1 2022 was 28.5%, up 0.05 percentage points from the same period in 2021[19] - The company reported a net profit margin of approximately 6.1% for Q1 2022, compared to 6.1% in Q1 2021[39] - The total profit before tax for Q1 2022 was CNY 4,316,900,839.41, an increase from CNY 3,663,314,737.35 in Q1 2021, representing a growth of 17.9%[40] - The total comprehensive income for Q1 2022 was CNY 3,090,657,101.47, a decrease from CNY 3,253,248,784.42 in Q1 2021, reflecting a decline of 5.0%[41] Cash Flow and Liquidity - The company's cash flow from operating activities decreased by 59.74%, amounting to CNY 1.15 billion compared to CNY 2.86 billion in the previous year[3] - The net cash flow from operating activities decreased by 59.74% due to reduced returns from bulk reserves and chip purchases, impacted by the pandemic and tight overseas logistics[28] - The company reported a net cash flow from operating activities of RMB 1.155 billion, a decrease of RMB 1.714 billion compared to the previous year[23] - Cash inflow from operating activities included CNY 849,953,359.92 from tax refunds, up from CNY 638,124,801.32 in Q1 2021, an increase of 33.1%[42] - The company's cash and cash equivalents amounted to RMB 46.24 billion as of March 31, 2022, slightly up from RMB 45.86 billion at the end of 2021[36] Assets and Liabilities - The total assets at the end of the reporting period were CNY 215.41 billion, a decrease of 0.94% from CNY 217.46 billion at the end of the previous year[3] - The asset-liability ratio at the end of Q1 2022 was 60.3%, down 2.4 percentage points from the end of 2021[26] - Total liabilities decreased to CNY 130.00 billion from CNY 136.38 billion, a reduction of 4.7%[38] - The company's equity attributable to shareholders increased by 5.35% to CNY 84.08 billion from CNY 79.81 billion at the end of the previous year[3] Market Performance - Revenue from the smart home and other businesses grew by 16.0% year-on-year, with the Casarte brand achieving a 32.3% increase[6] - The refrigerator segment maintained a leading market share with online and offline retail sales at 38.6% and 42.8%, respectively[7] - The kitchen appliance segment saw a significant revenue increase of 70.3%, with dishwashers growing by 96.7%[8] - The company’s washing machine market share was 40.3% online and 45.4% offline, with the dryer segment growing by 114%[9] - In Q1 2022, Haier's water heater business achieved online and offline retail market shares of 32.7% and 29.3% respectively[13] Investments and Expenditures - Capital expenditures in Q1 2022 totaled RMB 1.738 billion, with domestic expenditures at RMB 0.867 billion and overseas at RMB 0.871 billion[25] - The company approved a share repurchase plan with a total amount not exceeding RMB 3 billion and not less than RMB 1.5 billion, with a repurchase price not exceeding RMB 35 per share[33] - The company has a total of RMB 3.316 billion in entrusted wealth management, with RMB 190 million from temporarily idle raised funds and RMB 3.126 billion from other temporarily idle funds[32] Shareholder Information - The top ten shareholders hold a total of 1,698 million shares, with HKSCC NOMINEES LIMITED holding 23.71% of the shares[29] - The company’s major shareholders include Haier Kaos Co., Ltd. with 13.32% and Haier Group with 11.35% of the shares[29] - The company’s actual controller, Haier Group, plans to increase its stake in the company by investing between RMB 200 million and RMB 350 million, with a total of 15,712,200 shares acquired for approximately RMB 347.72 million[35] Research and Development - Research and development expenses increased to CNY 2,481,992,023.76, compared to CNY 2,067,952,212.64 in Q1 2021, marking a rise of 20.0%[40] - Research and development expenses in Q1 2022 were ¥5,929,371.96, down 67.7% from ¥18,340,350.35 in Q1 2021[46] Foreign Operations - Overseas business revenue increased by 4.2% compared to Q1 2021, with a slight improvement in operating profit margin by 0.1 percentage points[15] - In the U.S. market, high-end brands like Monogram and Café experienced growth exceeding 30%[16]