Sinotec(SH:603121)2022-04-26 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 213,879,415.51, representing a year-on-year decrease of 7.25%[5] - The net profit attributable to shareholders of the listed company was CNY 4,007,438.16, down 84.46% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 93.12%[6] - The basic and diluted earnings per share were both CNY 0.02, reflecting an 80% decrease compared to the previous year[6] - Net profit for Q1 2022 was ¥3,989,543.48, a significant decline of 84.5% from ¥25,753,847.84 in Q1 2021[22] Cash Flow - The net cash flow from operating activities was negative CNY 2,044,478.91, a decline of 132.85% year-on-year[6] - The net cash flow from operating activities was negative at -¥2,044,478.91, compared to a positive cash flow of ¥6,223,986.62 in Q1 2021[24] - Cash inflows from operating activities totaled ¥214,688,947.94, slightly down from ¥215,425,329.89 in the same quarter last year[24] - The net increase in cash and cash equivalents was 14,759,508.33, recovering from a decrease of -25,400,004.17[25] - The ending balance of cash and cash equivalents was 114,583,864.30, down from 217,501,095.77 in the previous period[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,577,060,066.36, a slight decrease of 0.11% from the end of the previous year[6] - As of March 31, 2022, the company's total assets amounted to approximately CNY 1.577 billion, a slight decrease from CNY 1.578 billion at the end of 2021[16] - The total current liabilities increased to CNY 383.84 million from CNY 354.41 million, representing an increase of approximately 8%[17] - The total liabilities amounted to ¥414,971,360.93, a slight decrease from ¥423,857,528.28 in the previous year[21] - The total equity attributable to shareholders was ¥1,162,176,184.55, an increase from ¥1,154,942,603.80 year-over-year[21] Operational Costs - Overall, the company experienced increased operational costs due to rising energy prices and higher period expenses related to stock incentives and foreign exchange losses[10] - Total operating costs increased to ¥209,856,077.24, up from ¥200,512,615.91 in the same period last year, representing a rise of 4.1%[21] Investments - The company's long-term equity investments significantly increased to CNY 30.72 million from CNY 1.37 million, showing a substantial growth of over 2000%[17] - The company reported a significant increase in investment cash inflows, totaling ¥345,792,297.35 compared to ¥190,000,000.00 in Q1 2021[24] - Net cash inflow from investment activities was 349,311,115.14, compared to 191,538,257.88 in the previous period[25] - Cash outflow from investment activities totaled 351,999,233.62, up from 232,674,638.74 in the prior period[25] Production Challenges - The significant decline in profit was attributed to rising raw material costs, particularly nickel, which increased from approximately CNY 150,000 per ton to CNY 290,000 per ton[10] - The company faced production capacity constraints due to local power restrictions, leading to increased outsourcing costs[10] Research and Development - Research and development expenses increased to ¥13,395,948.10, up 41.4% from ¥9,492,651.04 in the previous year[21] Other Financial Metrics - The weighted average return on net assets was 0.35%, down 1.93 percentage points from the previous year[6] - The company's cash and cash equivalents increased to CNY 116.24 million from CNY 103.00 million, reflecting a growth of approximately 12%[16] - Accounts receivable rose to CNY 229.01 million, up from CNY 219.65 million, indicating an increase of about 4%[16] - The inventory level remained stable at CNY 206.35 million, slightly up from CNY 205.51 million[16] - The company reported a total of 839.13 million in current assets, a decrease from 868.01 million, reflecting a decline of about 3%[16] - The total non-current assets increased to CNY 737.93 million from CNY 710.72 million, indicating a growth of approximately 4%[17] - The company's short-term borrowings rose to CNY 93.32 million from CNY 75.23 million, an increase of about 24%[17] - The company has no significant related party transactions disclosed in the report[13]