Hainan Mining(SH:601969)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,110,582.60 thousand, representing a year-on-year increase of 43.20%[6] - The net profit attributable to shareholders was CNY 193,516.87 thousand, showing a slight decrease of 1.68% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 166,841.79 thousand, which increased by 41.48% year-on-year[6] - Total operating revenue for Q1 2022 reached CNY 1,110,582.60 thousand, a 43.2% increase from CNY 775,529.81 thousand in Q1 2021[41] - Net profit for Q1 2022 was CNY 248,354.75 thousand, compared to CNY 204,373.68 thousand in Q1 2021, reflecting a 21.5% increase[41] - Operating profit for Q1 2022 was CNY 300,889.60 thousand, an increase from CNY 271,856.65 thousand in Q1 2021[41] Assets and Liabilities - The total assets at the end of the reporting period were CNY 11,320,304.54 thousand, an increase of 3.87% from the end of the previous year[9] - The company's total liabilities increased to CNY 4,495,381.77 thousand in Q1 2022 from CNY 4,295,460.37 thousand in Q1 2021[41] - The company's current assets totaled 6,048,228.99 CNY as of March 31, 2022, compared to 5,474,372.99 CNY at the end of 2021[35] - The company's total current liabilities reached 3,031,700.01 CNY as of March 31, 2022, compared to 2,860,360.27 CNY at the end of 2021[36] Cash Flow - The net cash flow from operating activities was CNY 403,534.68 thousand, with no applicable year-on-year comparison[6] - Cash inflow from operating activities for Q1 2022 was CNY 1,361,955.74 thousand, up from CNY 889,137.75 thousand in Q1 2021, representing a growth of 53.2%[47] - Cash outflow for investing activities totaled CNY 367,046.48 thousand, compared to CNY 212,206.08 thousand in Q1 2021, indicating an increase of 73.0%[49] - Cash inflow from financing activities amounted to CNY 648,957.13 thousand, an increase from CNY 542,013.40 thousand in the previous year, reflecting a growth of 19.7%[49] - The ending balance of cash and cash equivalents was CNY 3,674,591.24 thousand, up from CNY 1,724,722.55 thousand at the end of Q1 2021, marking a growth of 113.3%[49] Shareholder Equity - The equity attributable to shareholders at the end of the reporting period was CNY 5,776,557.59 thousand, reflecting a year-on-year increase of 3.22%[9] - Total equity attributable to shareholders of the parent company rose to CNY 5,776,557.59 thousand in Q1 2022, up from CNY 5,596,207.69 thousand in Q1 2021[41] - The company aims for a net profit growth rate of no less than 10% in 2022, 20% in 2023, and 30% in 2024 as part of its equity incentive plan[29] Operational Highlights - The company reported a significant increase of 467.02% in prepayments, primarily due to rising prepayments for bulk commodity trade[13] - The company experienced a 30.45% increase in trading financial assets, mainly due to the purchase of wealth management products during the period[13] - Operating costs increased to 74.47 million, attributed to higher sales volumes in the oil and gas sector and increased trading volumes in bulk commodities[16] - Research and development expenses rose to 31.23 million, mainly due to increased labor costs and related expenses[16] Market and Production - The average price index for 62% iron ore was 141.60 USD/ton, a 15.15% decrease year-on-year[24] - Brent crude oil average price was 101.85 USD/barrel, reflecting a 66.6% year-on-year increase[24] - Oil and gas production reached 145.62 million barrels of oil equivalent, a 95.33% increase year-on-year[24] - The company completed 918 meters of mining engineering construction in the Shilu iron ore project, achieving 31% of the annual plan[25] - The Wenzhou 12-8 oilfield East project officially commenced production on April 8, 2022, with an expected average daily crude oil production of approximately 4,700 barrels in 2022, peaking at about 10,000 barrels[27] Other Income and Expenses - Other income increased to 150.71 million, primarily due to higher tax refunds and government subsidies[16] - The company reported a decrease in other comprehensive income attributable to shareholders of the parent company, with a net amount of CNY -14,148.67 thousand in Q1 2022 compared to CNY 7,730.89 thousand in Q1 2021[43] - Research and development expenses for Q1 2022 were CNY 14,851.01 thousand, an increase from CNY 11,316.66 thousand in Q1 2021[41]