OGI(SH:600811)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥2,955,000,605.43, representing a decrease of 4.06% compared to the same period last year [5] - Net profit attributable to shareholders was ¥11,691,987.16, down 93.68% year-on-year [5] - Basic and diluted earnings per share were both ¥0.0032, reflecting a decrease of 93.68% year-on-year [5] - Total operating revenue for Q1 2022 was CNY 2,956,718,200.54, a decrease of 4.05% compared to CNY 3,081,688,361.09 in Q1 2021 [31] - Net profit for Q1 2022 was a loss of CNY 20,445,200.24, compared to a net profit of CNY 194,655,849.34 in Q1 2021 [34] - The company reported a total comprehensive income of CNY -66,682,348.28 for Q1 2022, compared to CNY 220,386,446.24 in Q1 2021 [34] - Basic and diluted earnings per share for Q1 2022 were CNY 0.0032, down from CNY 0.0506 in Q1 2021 [34] Cash Flow and Assets - The net cash flow from operating activities was ¥100,975,930.51, a decline of 53.30% compared to the previous year [5] - Cash inflow from operating activities for Q1 2022 was approximately $3.62 billion, an increase of 14.3% compared to $3.17 billion in Q1 2021 [36] - Net cash flow from operating activities decreased to approximately $101 million in Q1 2022, down 53% from $216 million in Q1 2021 [36] - Cash inflow from investment activities in Q1 2022 was approximately $3.60 billion, a significant decrease of 75.5% compared to $14.70 billion in Q1 2021 [36] - Net cash flow from investment activities for Q1 2022 was approximately $209 million, down 66.5% from $624 million in Q1 2021 [36] - Cash inflow from financing activities in Q1 2022 was approximately $4.30 billion, an increase of 38.8% compared to $3.10 billion in Q1 2021 [38] - The total cash and cash equivalents at the end of Q1 2022 was approximately $3.13 billion, down from $3.85 billion at the end of Q1 2021 [38] - The company's total assets at the end of the reporting period were ¥43,683,729,265.53, a decrease of 1.39% from the end of the previous year [5] - The company's current assets totaled RMB 18,825,854,366.19, down from RMB 19,786,164,604.09 at the end of 2021, reflecting a decline of approximately 4.86% [27] - The company's total liabilities were RMB 24,202,744,479.19, compared to RMB 24,751,529,259.66 at the end of 2021, indicating a decrease of approximately 2.21% [29] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 111,660 [13] - The top ten shareholders hold a total of 485,680,385 shares, with the largest shareholder, Tibet Dongfang Runlan Investment Co., Ltd., owning 608,854,587 shares, representing 16.39% of total shares [15] - Tibet Dongfang Runlan Investment Co., Ltd. is the controlling shareholder of the company, with Oriental Group Limited as its parent company [17] - The total number of shares held by the top ten unrestricted shareholders is 485,680,385 shares, indicating a concentrated ownership structure [17] Operational Changes and Expenses - The company experienced a significant decrease in sales expenses by 57.63%, attributed to a shift from traditional retail to community group buying [12] - The company reported a 44.89% increase in financial expenses, mainly due to rising financing costs in the real estate sector [12] - Research and development expenses increased to CNY 1,514,297.41 in Q1 2022 from CNY 376,045.68 in Q1 2021, reflecting a growth of 302.5% [31] - The company reported a decrease in minority shareholders' equity from CNY 135,048,071.37 in Q1 2021 to CNY 100,015,083.76 in Q1 2022 [31] Acquisition and Restructuring - The company plans to issue shares and pay cash to acquire 92% of the equity of Hui Lan Company from its controlling shareholder, Oriental Group Limited [18] - The company’s stock was suspended from trading on June 30, 2021, due to the planned acquisition, with an expected suspension period of no more than 10 trading days [18] - As of the announcement date, due diligence, auditing, and valuation work related to the overseas target assets for the transaction have not been completed [20] - The company will continue to advance the due diligence, auditing, and evaluation work for the transaction and will disclose any new developments in a timely manner [20] - The company has received inquiries from the Shanghai Stock Exchange regarding the information disclosure of the restructuring plan [19] - The company has disclosed multiple progress announcements regarding the acquisition from August 2021 to April 2022 [20] Other Financial Information - Non-recurring losses totaled ¥26,688,197.23, primarily due to losses from financial assets and other operating expenses [9] - The company has not disclosed any other significant operational information for the reporting period [18] - The company has agreed to return RMB 10 billion to Shandong Tianshang and pay interest totaling RMB 1,433,053,158.97, with a comprehensive interest rate of 11.92% [22] - The company is actively working to lift the judicial freeze on its assets, including shares in Minsheng Bank and Jinzhou Port [22] - The company’s inventory stood at RMB 7,939,968,394.77, slightly down from RMB 7,952,525,536.55 at the end of 2021 [27] - The company’s long-term equity investments increased to RMB 17,114,495,150.57 from RMB 16,737,589,607.45, reflecting a growth of approximately 2.25% [27]