HSPC(SH:603353)2022-04-27 16:00Financial Performance - The company's Q1 2022 revenue reached CNY 1,193,485,155.32, representing a year-on-year increase of 105.58% due to higher wholesale and retail sales volumes and prices[6] - Net profit attributable to shareholders was CNY 20,610,011.71, a decrease of 37.67% year-on-year, primarily due to reduced retail sales from pandemic impacts and decreased gross margins from rising crude oil prices[6] - The company achieved a revenue of 1,193.49 million RMB in Q1 2022, representing a year-on-year growth of 105.58%[16] - Net profit for Q1 2022 was ¥20,532,836.25, a decrease of 38.0% from ¥33,096,355.49 in Q1 2021[24] - Earnings per share for Q1 2022 was ¥0.12, down from ¥0.19 in Q1 2021[25] Operating Costs and Cash Flow - Operating costs increased to 1,107.45 million RMB, a year-on-year rise of 126.81% due to the significant increase in domestic refined oil prices[16] - Net cash flow from operating activities was negative CNY 62,545,232.11, reflecting increased crude oil prices and a rise in inventory and prepaid accounts[6] - Cash inflow from operating activities in Q1 2022 was ¥1,240,692,365.29, compared to ¥582,729,885.45 in Q1 2021, reflecting a growth of 112.4%[27] - Total cash outflow from operating activities amounted to $1.30 billion, up from $716.73 million year-over-year[28] Assets and Liabilities - As of March 31, 2022, total assets amounted to CNY 2,327,135,792.95, with a debt-to-asset ratio of 27.37%, indicating a solid asset position with no interest-bearing debt[7] - Total liabilities as of Q1 2022 amounted to ¥636,870,394.02, a decrease from ¥692,885,080.15 in the previous year[21] - The company recognized lease liabilities of CNY 327 million due to the adoption of new leasing standards[7] Inventory and Cash Management - Inventory levels increased to 248.91 million RMB, compared to 105.19 million RMB in the previous year[19] - The company's cash and cash equivalents were reported at 414.81 million RMB, a decrease from 632.30 million RMB year-on-year[18] - The ending balance of cash and cash equivalents was $404.87 million, slightly up from $390.78 million in the previous period[29] Government Support and Subsidies - The company received government subsidies amounting to CNY 2,350.51, contributing to non-recurring gains[9] Shareholder and Equity Information - The company reported a weighted average return on equity of 1.23%, a decrease of 0.77 percentage points year-on-year[6] - Total equity attributable to shareholders reached ¥1,685,531,534.44, an increase from ¥1,664,921,522.73 in Q1 2021[21] - The major shareholder relationships include connections among key stakeholders, indicating a closely-knit ownership structure[15] Future Outlook - The company is focusing on maintaining growth in retail and wholesale businesses despite challenges from international situations and local pandemic impacts[16] - The company plans to stabilize operations as international oil prices trend towards normalization[16]