YA BANG(SH:603188)2022-04-26 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 307,770,306.65, representing a year-on-year increase of 304.10%[5] - The net profit attributable to shareholders was a loss of CNY 48,128,587.16, an increase in loss of 48.82% compared to the same period last year[5] - Basic earnings per share were reported at -0.0844, with a year-on-year increase in loss of 48.82%[6] - The company reported a net loss for Q1 2022 due to production disruptions caused by COVID-19 and high unit production costs, with three production facilities still not operational[14][15] - In Q1 2022, the company reported a net loss of ¥53,242,422.24, compared to a net loss of ¥104,453,934.49 in Q1 2021, indicating a 48% improvement year-over-year[23] - Operating profit for Q1 2022 was -¥62,220,929.30, an improvement from -¥132,110,650.06 in the same period last year[23] - The total comprehensive loss for Q1 2022 was -¥53,242,422.24, compared to -¥104,453,934.49 in Q1 2021, reflecting a 49% reduction in losses[24] Cash Flow and Liquidity - The net cash flow from operating activities was a negative CNY 143,500,702.49, reflecting a decrease of 104.17% year-on-year[5] - Cash and cash equivalents as of March 31, 2022, amounted to RMB 336,844,634.72, up from RMB 101,573,906.31 at the end of 2021, reflecting a growth of approximately 231.5%[18] - Cash and cash equivalents at the end of Q1 2022 stood at ¥43,554,978.56, compared to ¥122,828,022.55 at the end of Q1 2021, showing a decrease of 64%[27] - The company raised ¥65,383,800.00 in borrowings during Q1 2022, compared to ¥22,000,000.00 in Q1 2021, indicating a 197% increase in financing activities[27] - The total cash inflow from investment activities was ¥25,544,590.94, down from ¥87,132,172.58 in the previous year[26] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,695,383,458.21, an increase of 7.29% from the end of the previous year[6] - Total assets as of March 31, 2022, were RMB 3,695,383,458.21, compared to RMB 3,444,438,766.32 at the end of 2021, indicating a growth of about 7.3%[19] - Total liabilities increased to RMB 1,615,132,901.31 from RMB 1,311,815,828.41, reflecting an increase of approximately 23.2%[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,027[12] - The largest shareholder, Yabong Investment Holding Group Co., Ltd., held 29.13% of the shares, totaling 166,112,000 shares[12] Operational Insights - The increase in operating revenue was primarily due to the resumption of production by major subsidiaries[10] - The company aims to achieve a turnaround in performance for the full year, contingent on the resumption of production and market conditions[15] - The company has undergone safety and environmental upgrades, which have impacted production capacity and costs, contributing to the losses reported in Q1 2022[14] - The company incurred R&D expenses of ¥12,427,707.77, up from ¥8,037,160.57 in Q1 2021, reflecting a 55% increase[23] Revenue and Costs - Total operating revenue for Q1 2022 reached RMB 307,770,306.65, a significant increase from RMB 76,161,570.59 in Q1 2021, representing a growth of approximately 304.5%[22] - Total operating costs for Q1 2022 were RMB 370,856,748.13, compared to RMB 207,653,106.12 in Q1 2021, indicating an increase of about 78.5%[22] - Total revenue from sales and services received cash of ¥289,447,520.21, a significant increase from ¥78,903,523.92 in Q1 2021[25] Other Financial Metrics - The weighted average return on net assets was -2.21%, an increase of 1.88 percentage points compared to the previous year[6] - The company reported non-recurring gains and losses totaling CNY 3,126,647.61 for the period[9] - Accounts receivable increased to RMB 130,001,283.38 from RMB 123,668,083.07, showing a slight rise of about 5.4%[18] - Inventory levels rose to RMB 422,038,416.39, compared to RMB 406,000,210.14 at the end of 2021, marking an increase of approximately 3.9%[18]