xilinmen(SH:603008)2022-04-22 16:00Key Financial Highlights This section provides an overview of the company's core financial performance and key indicators for the reporting period Key Accounting Data and Financial Indicators In Q1 2022, the company's operating revenue grew by 12.35% year-on-year, but net profit attributable to parent company shareholders decreased by 36.18%, with net cash flow from operating activities at -551.38 million RMB, a significant outflow of 163.03% year-on-year, indicating pressure on profitability and cash flow Key Financial Indicators for Q1 2022 | Indicator | Current Period (RMB) | Year-on-Year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 1,404,607,863.54 | 12.35% | | Net Profit Attributable to Shareholders | 53,920,500.45 | -36.18% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 49,160,037.66 | 12.85% | | Net Cash Flow from Operating Activities | -551,378,112.42 | -163.03% | | Basic Earnings Per Share (RMB/share) | 0.14 | -36.36% | | Weighted Average Return on Net Assets | 1.67% | Decreased by 1.16 percentage points | | Total Assets (Period-end) | 8,073,607,286.59 | -2.86% (vs. end of prior year) | | Total Owner's Equity Attributable to Shareholders (Period-end) | 3,247,573,423.88 | 1.50% (vs. end of prior year) | Analysis of Non-Recurring Gains and Losses Total non-recurring gains and losses amounted to 4.76 million RMB in this reporting period, primarily from government subsidies, which had a positive impact on current net profit Non-Recurring Gains and Losses for Q1 2022 | Item | Amount (RMB) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 39,997.36 | | Government Subsidies Recognized in Current Profit/Loss | 9,973,715.31 | | Other Non-operating Income and Expenses | -3,704,448.45 | | Less: Income Tax Impact | 563,984.47 | | Less: Impact on Minority Interests (After Tax) | 984,816.96 | | Total | 4,760,462.79 | Analysis of Changes in Key Financial Indicators Multiple financial indicators showed significant changes during the reporting period, with administrative and financial expenses increasing by 43.65% and 74.11% respectively due to higher salaries, amortization, and increased borrowing, while net cash flow from operating activities sharply declined by 163.03% mainly due to increased payments for purchases and salaries Changes in Key Financial Indicators and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Administrative Expenses | 43.65 | Due to increased salaries, training, and amortization expenses in the current period | | Financial Expenses | 74.11 | Due to increased borrowing and interest expenses in the current period | | Investment Income | -101.96 | Due to recognition of gain from disposal of Shengxi Huashi equity in the prior period | | Net Cash Flow from Operating Activities | -163.03 | Due to increased payments for purchases and salaries in the current period | | Net Cash Flow from Investing Activities | -173.33 | Due to recovery of equity instrument investments in the prior period | | Net Cash Flow from Financing Activities | 178.17 | Due to increased borrowing in the current period | Shareholder Information This section details the company's shareholder structure and significant shareholdings as of the reporting period end Shareholding Status of Shareholders As of the end of the reporting period, the company had 9,938 common shareholders, with Zhejiang Huayi Intelligent Manufacturing Co., Ltd. and Shaoxing Yuecheng Huahan Equity Investment Partnership (Limited Partnership) being the top two shareholders, holding 21.89% and 9.50% respectively, and forming a concerted action with shareholder Chen Ayun - As of the end of the reporting period, the company had 9,938 common shareholders13 Top Ten Shareholders' Shareholding Status | Shareholder Name | Shareholding Percentage (%) | Number of Shares Held | | :--- | :--- | :--- | | Zhejiang Huayi Intelligent Manufacturing Co., Ltd. | 21.89 | 84,799,659 | | Shaoxing Yuecheng Huahan Equity Investment Partnership (Limited Partnership) | 9.50 | 36,807,950 | | Hong Kong Securities Clearing Company Limited | 6.47 | 25,053,352 | | Zhou Weicheng | 3.43 | 13,300,705 | | Shen Dongliang | 1.30 | 5,025,000 | | Chen Ayun | 1.09 | 4,228,125 | | New China Life Insurance Co., Ltd. - Dividend - Individual Dividend - 018L - FH002 Shanghai | 1.06 | 4,110,390 | | China Merchants Bank Co., Ltd. - ICBC Credit Suisse New Financial Stock Investment Fund | 1.03 | 3,999,984 | | Hangzhou Jintou Qianjing Investment Management Co., Ltd. - Qianjing Bole No. 1 Private Securities Investment Fund | 0.98 | 3,790,000 | | National Social Security Fund Council 413 Portfolio | 0.94 | 3,656,552 | - Shareholders Zhejiang Huayi Intelligent Manufacturing Co., Ltd., Shaoxing Yuecheng Huahan Equity Investment Partnership (Limited Partnership), and Chen Ayun are parties acting in concert16 Quarterly Financial Statements This section presents the company's consolidated financial statements for the quarter, including the balance sheet, income statement, and cash flow statement Consolidated Balance Sheet As of March 31, 2022, total assets were 8.07 billion RMB, a 2.86% decrease from the end of the previous year, reflecting reduced cash, increased inventories and receivables financing, and on the liability side, a significant decrease in accounts payable alongside increases in short-term borrowings and notes payable, indicating changes in the company's working capital structure Key Balance Sheet Items (Unit: RMB) | Item | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | Total Assets | 8,073,607,286.59 | 8,311,140,896.28 | | Cash and Cash Equivalents | 1,365,341,914.51 | 1,731,676,742.51 | | Inventories | 1,224,211,517.02 | 1,101,623,121.75 | | Total Liabilities | 4,633,147,993.55 | 4,925,629,916.23 | | Short-term Borrowings | 1,406,886,696.70 | 1,243,340,335.06 | | Accounts Payable | 1,147,176,469.85 | 1,664,686,903.63 | | Total Owner's Equity | 3,440,459,293.04 | 3,385,510,980.05 | Consolidated Income Statement In Q1 2022, total operating revenue reached 1.40 billion RMB, a 12.35% year-on-year increase, but rising operating costs, administrative expenses, and financial expenses led to a year-on-year decline in operating profit, resulting in a net profit attributable to parent company shareholders of 53.92 million RMB, a significant 36.18% year-on-year decrease Key Income Statement Items (Unit: RMB) | Item | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Total Operating Revenue | 1,404,607,863.54 | 1,250,177,982.02 | | Total Operating Costs | 1,356,632,913.36 | 1,201,800,553.79 | | Of which: Operating Costs | 923,376,778.48 | 819,295,003.84 | | Administrative Expenses | 89,964,671.08 | 62,628,346.33 | | Financial Expenses | 18,740,904.59 | 10,763,841.52 | | Operating Profit | 69,137,822.64 | 106,853,464.72 | | Total Profit | 65,433,374.19 | 106,922,994.67 | | Net Profit | 60,862,006.51 | 97,372,921.12 | | Net Profit Attributable to Parent Company Shareholders | 53,920,500.45 | 84,486,876.81 | Consolidated Cash Flow Statement During the reporting period, net cash flow from operating activities was -551.38 million RMB, a significant outflow of 163.03% year-on-year, primarily due to increased cash outflows for purchases, payroll, and various taxes, while net cash flow from financing activities turned positive due to increased borrowings Key Cash Flow Statement Items (Unit: RMB) | Item | Q1 2022 | Q1 2021 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -551,378,112.42 | -209,626,688.83 | | Net Cash Flow from Investing Activities | -93,087,391.68 | 126,936,916.52 | | Net Cash Flow from Financing Activities | 196,361,899.33 | -251,199,724.12 | | Net Increase in Cash and Cash Equivalents | -448,103,604.77 | -333,889,496.43 |