WAZAM(SH:603186)2022-04-18 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥836,982,701.57, representing an increase of 8.76% compared to the same period last year[5]. - Net profit attributable to shareholders decreased by 51.35% to ¥30,823,035.32, primarily due to a decline in product gross margin as raw material prices fell less than finished product prices[10]. - Basic earnings per share decreased by 51.11% to ¥0.22, while diluted earnings per share fell by 55.56% to ¥0.20[6][11]. - Net profit for Q1 2022 was ¥31,719,906.07, a decrease of 50.2% from ¥63,636,692.91 in Q1 2021[23]. - Total operating revenue for Q1 2022 reached ¥836,982,701.57, an increase of 8.8% compared to ¥769,586,422.92 in Q1 2021[22]. - Total operating costs for Q1 2022 were ¥814,736,202.31, up 17.4% from ¥693,795,469.48 in Q1 2021[22]. - Basic earnings per share for Q1 2022 were ¥0.22, down from ¥0.45 in Q1 2021[24]. - The company reported a decrease in investment income to ¥1,472,685.00 in Q1 2022 from ¥2,447,857.75 in Q1 2021[22]. - The company experienced a foreign exchange loss of ¥160,747.61 in Q1 2022, compared to a loss of ¥1,982,801.36 in Q1 2021[22]. Cash Flow - The net cash flow from operating activities was negative at -¥66,715,792.89, a decrease of 178.14% compared to the previous year, mainly due to increased payments for materials[10]. - Cash flow from operating activities in Q1 2022 showed a net outflow of ¥66,715,792.89, compared to a net inflow of ¥85,378,402.72 in Q1 2021[26]. - Cash flow from investing activities in Q1 2022 resulted in a net outflow of ¥252,714,747.65, compared to a net outflow of ¥207,708,946.86 in Q1 2021[26]. - Cash flow from financing activities in Q1 2022 generated a net inflow of ¥588,045,443.34, compared to ¥164,325,669.03 in Q1 2021[26]. - The beginning cash and cash equivalents balance was $233,038,216.33, compared to $229,655,614.04 in the previous period[27]. - The ending cash and cash equivalents balance increased to $502,806,097.05 from $271,451,167.07, reflecting a significant growth[27]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,427,886,748.48, an increase of 6.48% from the end of the previous year[6]. - As of March 31, 2022, total assets amounted to 5,427,886,748.48 RMB, an increase from 5,097,521,057.77 RMB at the end of 2021[19]. - The total liabilities of the company were 3,674,573,374.61 RMB, up from 3,426,730,895.46 RMB in the previous year[20]. - The company's equity attributable to shareholders reached 1,740,955,695.73 RMB, compared to 1,659,329,354.92 RMB in December 2021[20]. - Non-current assets totaled 2,520,892,034.12 RMB, an increase from 2,382,760,640.92 RMB at the end of 2021[19]. - The company reported a total current asset of 2,906,994,714.36 RMB, up from 2,714,760,416.85 RMB year-over-year[18]. - The company's cash and cash equivalents increased to 676,603,030.74 RMB from 448,264,794.38 RMB year-over-year[18]. - Accounts receivable rose slightly to 1,369,207,533.10 RMB compared to 1,361,637,322.39 RMB in December 2021[18]. - The company’s inventory decreased to 365,273,497.09 RMB from 407,164,864.17 RMB in December 2021[18]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,318[12]. - The largest shareholder, Huali Group Co., Ltd., held 40.07% of the shares, totaling 56,902,768 shares[13]. Future Plans and Investments - The company plans to focus on improving product gross margins and managing raw material costs to enhance profitability in the future[10]. - The company approved a capital increase of 400 million RMB for its wholly-owned subsidiary to support project implementation[16]. - The company issued 5.7 million convertible bonds at a price of 100 RMB per bond, raising a total of 570 million RMB, with a net amount of 561,690,792.46 RMB after expenses[15]. Accounting Changes - The company has adopted new accounting standards starting in 2022, which may impact financial reporting[27]. - The weighted average return on net assets was 1.80%, a decrease of 2.46 percentage points compared to the previous year[6]. - Non-recurring gains and losses amounted to ¥5,849,492.23, with government subsidies closely related to normal business operations contributing ¥6,208,154.90[9]. - Research and development expenses for Q1 2022 were ¥42,201,090.06, an increase of 30% from ¥32,453,321.74 in Q1 2021[22].