Jinko Power(SH:601778)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥573,185,557.71, representing a decrease of 18.81% compared to the same period last year[6]. - The net profit attributable to shareholders was -¥59,848,068.61, with a basic earnings per share of -¥0.02[6]. - Total revenue for Q1 2022 was 573,185,557.71 RMB, down from 705,978,867.52 RMB in Q1 2021, representing a decrease of approximately 18.7%[33]. - The company's net profit attributable to shareholders decreased to 2,847,411,961.99 RMB in Q1 2022 from 2,907,260,030.60 RMB in Q1 2021, a decline of about 2.2%[35]. - The net profit for the first quarter of 2022 was -55,747,594.07 RMB, compared to -108,698,080.29 RMB in the same period of 2021, showing an improvement of approximately 48.7%[38]. - The total comprehensive income for the first quarter was -40,993,641.37 RMB, compared to -106,117,444.10 RMB in the same quarter of the previous year, reflecting an improvement of about 61.4%[40]. - Basic earnings per share for the first quarter were -0.02 RMB, an improvement from -0.04 RMB in the same quarter of 2021[40]. Assets and Liabilities - The total assets at the end of the reporting period were ¥30,634,583,863.98, an increase of 3.90% from the end of the previous year[9]. - Total assets rose to 30,634,583,863.98 RMB in Q1 2022, up from 29,484,082,545.91 RMB in Q1 2021, an increase of about 3.9%[35]. - Total liabilities increased to 18,334,931,252.01 RMB in Q1 2022, compared to 17,078,245,572.15 RMB in Q1 2021, reflecting a growth of approximately 7.3%[35]. - The total equity attributable to shareholders decreased by 0.90% to ¥12,196,847,188.78[9]. Cash Flow - The cash flow from operating activities was -¥66,402,598.55, indicating a decline in cash generation capabilities[6]. - The company reported a net cash outflow from operating activities of -66,402,598.55 RMB, worsening from -25,597,724.79 RMB in the previous year[43]. - Cash and cash equivalents at the end of the period increased to 4,345,104,120.76 RMB, up from 1,820,297,864.41 RMB, indicating a significant increase of approximately 139.5%[45]. - Cash inflows from financing activities amounted to 2,695,275,553.90 RMB, compared to 1,619,931,727.99 RMB in the previous year, marking an increase of approximately 66.3%[45]. - The company incurred total financing cash outflows of 1,695,813,203.58 RMB, up from 1,320,008,412.53 RMB in the same period last year[45]. - The company reported a significant increase in cash received from borrowings, totaling 1,783,566,286.02 RMB, compared to 1,159,592,000.00 RMB in the previous year, reflecting a growth of approximately 53.7%[45]. Research and Development - Research and development expenses increased by 88.39%, reflecting the company's commitment to innovation[12]. - Research and development expenses for Q1 2022 were 1,946,339.04 RMB, up from 1,033,162.02 RMB in Q1 2021, indicating an increase of about 88.4%[33]. Market and Strategic Initiatives - The company plans to expand its market presence and enhance its product offerings in the renewable energy sector[12]. - The company has successfully secured a contract for a 300MW photovoltaic power generation project in Saudi Arabia, with a total investment of approximately USD 209 million[24]. - The company is actively seeking partnerships for investment in the Saudi project, which is part of the country's third round of renewable energy initiatives[24]. - The company’s financial performance indicates a robust growth trajectory, supported by strategic investments and market expansion efforts[22]. Shareholder Information - The top ten shareholders include major investment firms, with the largest being Bihua Venture Capital Co., Ltd., holding 241,592,600 shares[21]. - The company has a share buyback account holding 15,082,300 shares, representing 0.52% of the total share capital[21]. Management Changes - The company is undergoing management changes, with the resignation of key executives, but operations are expected to continue smoothly[24].