VITI(SH:603023)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 11,981,796.01, representing a year-on-year increase of 3.69%[4] - The net profit attributable to shareholders was CNY 696,829.80, reflecting an increase of 11.71% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 538,155.98, showing a decrease of 8.33% year-on-year[4] - The basic and diluted earnings per share were both CNY 0.0012, which is an increase of 9.09%[4] - Total operating revenue for Q1 2022 was CNY 11,981,796.01, an increase of 3.68% compared to CNY 11,555,821.06 in Q1 2021[24] - Net profit for Q1 2022 was CNY 660,727.47, representing an increase of 5.93% from CNY 623,789.90 in Q1 2021[25] - The company reported a total profit of CNY 1,236,763.66 for Q1 2022, compared to CNY 786,022.61 in Q1 2021[25] Cash Flow and Liquidity - The net cash flow from operating activities was CNY -2,640,566.18, indicating a decrease due to reduced bank acceptance bills[7] - Cash flow from operating activities showed a net outflow of CNY -2,640,566.18, a significant decrease from a net inflow of CNY 5,582,907.89 in Q1 2021[27] - The net cash flow from investing activities was -466,137.05 RMB, indicating a significant outflow compared to the previous quarter's outflow of -1,424,129.50 RMB[28] - The total cash and cash equivalents at the end of the period were 476,835,567.54 RMB, slightly down from 479,942,270.77 RMB at the beginning of the period[28] - The company reported a decrease in cash and cash equivalents by 3,106,703.23 RMB during the quarter[28] - The company maintains a healthy liquidity position with cash and cash equivalents representing a substantial portion of total assets[33] Assets and Liabilities - Total assets at the end of the reporting period were CNY 786,907,851.87, a decrease of 0.15% from the end of the previous year[4] - As of March 31, 2022, the company's total assets amounted to CNY 786.91 million, a slight decrease from CNY 788.07 million on December 31, 2021[20] - The total current assets amounted to 651,086,307.40 RMB, with inventory valued at 99,930,745.79 RMB[31] - The total liabilities decreased to CNY 23,142,462.51 from CNY 24,963,430.20 year-over-year[22] - The total liabilities were 24,963,430.20 RMB, with current liabilities comprising 22,958,785.25 RMB[32] - The owner's equity totaled 763,104,661.89 RMB, indicating a solid equity position for the company[33] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,834[9] - The top shareholder, Chen Zhenhua, holds 29.24% of the shares, totaling 164,364,155 shares[9] Investments and Acquisitions - The company established a joint venture, Zhejiang Hangwei Automotive Control System Co., Ltd., with a registered capital of CNY 55 million, where the company contributed CNY 30.25 million, accounting for 55% of the capital[11] - The company plans to acquire 100% equity of Shanghai Feier Automotive Parts Co., Ltd. through a combination of issuing shares, convertible bonds, and cash payments, while also raising matching funds through a private placement[11] Regulatory and Compliance - The company received inquiries from the Shanghai Stock Exchange regarding its major asset restructuring, indicating regulatory scrutiny[12] - The company has been actively responding to inquiries and updating its disclosures related to the asset restructuring process[16] Research and Development - Research and development expenses for Q1 2022 were CNY 3,152,222.52, compared to CNY 3,060,127.80 in Q1 2021[24] Accounting Standards - The company has implemented new accounting standards starting from 2022, which may affect financial reporting[28]