BAIDA GROUP(SH:600865)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 58,413,510.97, a decrease of 13.72% compared to the same period last year[3]. - The net profit attributable to shareholders was CNY 53,703,930.93, down 33.79% year-on-year[3]. - Basic and diluted earnings per share were both CNY 0.14, reflecting a decline of 36.36%[3]. - In Q1 2022, the company's net profit was CNY 53,642,448.79, a decrease of 33.9% compared to CNY 81,054,160.11 in Q1 2021[29]. - The total revenue from sales of goods and services in Q1 2022 was CNY 273,717,795.17, down from CNY 303,692,292.96 in Q1 2021, reflecting a decline of 9.8%[32]. - Operating profit for Q1 2022 was CNY 71,679,345.57, a decrease of 32.1% from CNY 105,557,552.20 in Q1 2021[29]. - The total cost of operations for the first quarter of 2022 was CNY 37,517,578.76, compared to CNY 38,271,101.21 in the same period last year[28]. - The financial expenses for Q1 2022 were CNY 1,296,201.11, slightly down from CNY 1,316,965.44 in Q1 2021[29]. Cash Flow and Assets - The net cash flow from operating activities decreased by 47.53% to CNY 4,077,752.51[7]. - The company reported a net cash flow from operating activities of CNY 4,077,752.51 in Q1 2022, down from CNY 7,771,418.24 in Q1 2021[33]. - Investment activities generated a net cash flow of CNY 41,065,836.62 in Q1 2022, compared to a negative cash flow of CNY -38,922,545.67 in Q1 2021[33]. - The cash and cash equivalents increased to CNY 183,265,571.39 from CNY 138,121,982.26 year-over-year, reflecting a growth of approximately 32.7%[25]. - The company's accounts receivable decreased to CNY 12,385,272.82 from CNY 22,439,406.52, indicating a reduction of about 44.7%[25]. - The company reported a significant increase in inventory by 137.18%, attributed to the rise in stock of department store goods[6]. - The company's total assets at the end of the reporting period were CNY 2,639,581,876.78, an increase of 0.61% from the end of the previous year[3]. - As of March 31, 2022, the company's total assets amounted to CNY 2,639,581,876.78, a slight increase from CNY 2,623,564,053.25 as of December 31, 2021[24]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 16,696[9]. - The largest shareholder, Xizi International Holdings Limited, holds 120,396,920 shares, representing 32.00% of total shares[9]. - The major shareholder, Xizi United Holdings, increased its stake to 12.7082% by acquiring an additional 18,812,110 shares[22]. Expenses and Liabilities - The company experienced a 55.12% increase in selling expenses, mainly due to promotional costs and parking rental fees[6]. - The company incurred sales expenses of CNY 9,219,953.03 in Q1 2022, which is an increase of 55.5% compared to CNY 5,943,803.50 in Q1 2021[29]. - The company's total liabilities decreased to CNY 315,204,982.08 from CNY 352,829,607.34 year-over-year[27]. Legal and Management Agreements - The company is involved in a lawsuit regarding the Huayangnian project, which may pose a risk of not recovering the principal amount[15]. - The company has authorized management to decide on execution and settlement plans for a pending lawsuit involving CNY 17,381,121.28 that remains unexecuted[20]. - The company has a management agreement with Zhejiang Intime Department Store Co., Ltd. that has been in effect since March 1, 2008, for a period of 20 years[11]. Investment Activities - The company has a total of 97,885.69 million RMB in cash asset management, with 51,813.00 million RMB from self-owned funds in wealth management and 46,072.69 million RMB from trust funds[14]. - The company has received a total of 1,137.10 million RMB in returns from entrusted wealth management during the reporting period[14]. - The company invested 8,000 million RMB in the Jiaxing City Key No. 3 Equity Investment Partnership, with a total investment of 62,000 million RMB in the project[16]. - The company has committed 4,000 million RMB to the Hangzhou Zhefeng Hongsheng Venture Capital Partnership, with 1,600 million RMB already paid[19]. Management Fees - The company has a total of 14,896,794.08 RMB in basic management fees at the beginning of the reporting period, with 14,797,595.47 RMB paid during the period[13]. - The company has a total of 3,018,276.99 RMB in unpaid management fees at the end of the reporting period[13].