MEI YAN(SH:600868)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 60,716,193.74, representing a year-on-year increase of 177.62%[5] - The net profit attributable to shareholders was CNY 2,928,285.22, with a significant increase in main business profits[5] - Total operating revenue for Q1 2022 reached ¥60,716,193.74, a significant increase of 177.5% compared to ¥21,870,151.56 in Q1 2021[20] - Net profit for Q1 2022 was ¥1,863,394.46, a turnaround from a net loss of ¥5,076,814.56 in Q1 2021[21] - The profit attributable to the parent company's shareholders in Q1 2022 was ¥2,928,285.22, compared to a loss of ¥4,807,477.34 in the same period last year[22] - Basic and diluted earnings per share for Q1 2022 were both ¥0.0015, recovering from a loss of ¥0.0019 per share in Q1 2021[22] Cash Flow - The net cash flow from operating activities was negative at CNY -1,987,411.34, a decrease of 181.16% compared to the same period last year[5] - Cash inflows from operating activities totaled ¥82,638,836.65 in Q1 2022, significantly higher than ¥18,345,561.35 in Q1 2021[23] - The net cash flow from operating activities was -$1,987,411.34, compared to $2,448,823.95 in the previous period, indicating a decline in operational cash generation[24] - Total cash outflow from operating activities amounted to $84,626,247.99, significantly higher than $15,896,737.40 in the prior period[24] - The cash flow from operating activities indicates a challenging financial environment, with a notable decrease in cash generation capabilities[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,755,263,468.66, a decrease of 1.00% from the end of the previous year[6] - As of March 31, 2022, total assets amounted to RMB 2,755,263,468.66, a decrease from RMB 2,783,007,765.76 at the end of 2021[16] - The company's current assets totaled RMB 686,337,897.33, down from RMB 700,153,894.94 at the end of 2021, indicating a decline of approximately 1.9%[17] - The company's total liabilities decreased to RMB 338,540,369.16 from RMB 368,148,060.72, a reduction of approximately 8%[18] - The total equity attributable to shareholders of the parent company was ¥2,353,623,001.80 as of the end of Q1 2022, slightly up from ¥2,350,694,716.58 at the end of Q1 2021[19] - Total liabilities and equity amounted to ¥2,755,263,468.66 at the end of Q1 2022, down from ¥2,783,007,765.76 at the end of Q1 2021[19] Expenses and Income - Sales expenses surged by 467.67%, primarily due to increased sales activities during the period[10] - Other income increased by 523.75%, reflecting additional government subsidies received[10] - The company experienced a 1,974.15% increase in credit impairment losses, indicating a rise in provisions for potential losses[10] - The company reported a decrease in credit impairment losses of ¥174,374.69 in Q1 2022, compared to a gain of ¥9,304.20 in Q1 2021[21] Investments and Financing - The company reported a significant increase in investment payments, totaling $37,500,000.00 compared to $229,500,000.00 in the previous period[24] - The company raised $137,700,000.00 through borrowing, contributing to a cash inflow from financing activities[24] - Cash outflow from financing activities was $9,305,681.18, leading to a net cash flow from financing activities of -$9,305,681.18[24] Legal and Regulatory - The company is actively involved in a legal dispute regarding a leasing contract, with the court ruling in favor of the company to continue the contract[15] - The company is adapting to new accounting standards starting in 2022, which may impact future financial reporting[25]