HHI(SH:601226)2022-04-21 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,327,958,361.50, representing a year-on-year increase of 2.67%[6] - The net profit attributable to shareholders of the listed company was a loss of CNY 109,019,440.22, a decrease of 676.10% compared to the same period last year[6] - The basic earnings per share for the period was -CNY 0.0944, down 686.67% from the previous year[6] - In Q1 2022, the company achieved revenue of CNY 1.328 billion, a year-on-year increase of 2.67%, while the net profit attributable to shareholders was CNY -1.09 billion, a year-on-year decrease of 676.10%[18] - Net profit for Q1 2022 was a loss of RMB 110,004,123.01, compared to a loss of RMB 14,162,934.01 in Q1 2021, indicating a significant decline[29] - The company experienced a total comprehensive loss of RMB 110,004,123.01 in Q1 2022, compared to a loss of RMB 14,162,934.01 in Q1 2021[29] Cash Flow and Assets - The net cash flow from operating activities was a negative CNY 735,645,450.00, reflecting a decline of 6.93% year-on-year[6] - The company's cash and cash equivalents decreased from CNY 2.172 billion at the end of 2021 to CNY 1.456 billion, a decline of about 33%[22] - Total current assets as of March 31, 2022, amounted to CNY 7.705 billion, down from CNY 8.275 billion at the end of 2021, reflecting a decrease of approximately 6.9%[22] - Cash flow from operating activities in Q1 2022 was a net outflow of RMB 735,645,450.00, compared to a net outflow of RMB 687,943,739.22 in Q1 2021[32] - Cash and cash equivalents at the end of Q1 2022 were RMB 1,348,644,278.87, an increase from RMB 1,223,073,047.89 at the end of Q1 2021[32] - The company reported a total cash outflow from investing activities of RMB 1,027,081,559.14 in Q1 2022, compared to RMB 501,482,288.40 in Q1 2021[32] - The company achieved cash inflow from investment activities of RMB 1,004,897,479.44 in Q1 2022, significantly higher than RMB 502,628,914.13 in Q1 2021[32] Assets and Liabilities - Total assets at the end of the reporting period were CNY 10,036,058,737.64, a decrease of 5.90% from the end of the previous year[9] - The total liabilities as of March 31, 2022, were CNY 6.125 billion, down from CNY 6.645 billion at the end of 2021, representing a decrease of approximately 7.8%[25] - The company's total assets as of March 31, 2022, were CNY 10.036 billion, down from CNY 10.665 billion at the end of 2021, indicating a reduction of about 5.9%[25] - The equity attributable to shareholders of the listed company was CNY 3,865,939,007.55, down 2.73% from the end of the previous year[9] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 44,574[14] - The largest shareholder, China Huadian Science and Technology Group Co., Ltd., held 62.48% of the shares[14] Contracts and Market Activity - The company signed new sales contracts worth CNY 1.384 billion in Q1 2022, a year-on-year decrease of 9.31%, with an additional CNY 1.524 billion in contracts that have been bid but not yet signed[18] - Guangdong province offers a subsidy of CNY 1,500 per kilowatt for offshore wind projects connected to the grid in 2022, decreasing to CNY 1,000 in 2023, which supports the company's market expansion efforts[18] Research and Development - Research and development expenses increased to RMB 54,814,916.43 in Q1 2022, up 77.4% from RMB 30,888,391.33 in Q1 2021[29] - The company is actively involved in hydrogen energy projects, having established the China Huadian Hydrogen Energy Technology Research Center, indicating a strategic focus on renewable energy development[21] - The company plans to gradually implement competitive pricing for offshore wind power projects from 2022 to 2025, with annual installed capacity limits set for each year, indicating a strategic approach to market positioning[21] Operating Costs - Total operating costs in Q1 2022 were RMB 1,439,867,137.94, up 9.9% from RMB 1,309,722,099.82 in Q1 2021[29]